The Student Loans Company (SLC) has launched its student finance application service for post graduate students in Wales.
Eligible postgraduate master’s students can apply for a combination of loans and grants to help with course fees and living costs. While postgraduate doctoral students can apply for a Postgraduate Doctoral Loan.
Derek Ross, SLC Executive Director of Operations said: “I’m pleased to announce that applications are open for postgraduate students in Wales. Students should apply online. Applying as quickly and correctly as possible is the best way of making sure funding is in place before the new term starts.”
Key facts about Postgraduate Master’s funding
- Postgraduate Master’s funding is a mixture of loans and grants. The amount of grant and loan you get is determined by your household income.
- All eligible students are entitled to a grant of at least £1000 which doesn’t have to be paid back.
- You only need to apply for postgraduate master’s finance once, even if your course is longer than a year.
- You start repaying your Postgraduate Master’s finance the April after you finish your course but only if your income is over the repayment threshold. You repay 6% of what you earn over the repayment threshold which is currently £21,000 per annum. If you have other student loans you repay these at the same time.
- Extra help is available if you have a disability or have children or adults who are financially dependent on you.
To find out more watch our short film on Postgraduate Master’s finance
Key facts about the Postgraduate Doctoral Loan
- You can get up to £26,445 to help with course fees and living costs.
- The loan is paid directly to you. It will be spread out over the academic years of your course.
- Postgraduate Doctoral Loans are not based on your household income.
- You can apply in any year of your course but you may not get the maximum amount if you apply after the first year.
- You start repaying your Postgraduate Doctoral Loan the April after you finish but only if your income is over the repayment threshold. You repay 6% of what you earn over the repayment threshold which is currently £21,000 per annum. If you have other student loans you repay these at the same time.
To find out more watch our film on Postgraduate Doctoral Finance and follow Student Finance Wales on Twitter and [Facebook] (www.facebook.com/SFWales).
Read the original advice at Foreign Travel Advice (UK)