You can apply for a Postgraduate Loan to help you pay for your Master’s course. To get a Postgraduate Loan, you must: be studying a taught or research Master’s course, be under 60 at the start of your course, and normally live in England. If you’re an EU national and have lived in the EEA or Switzerland for at least three years before the start of your course, you’ll also be able to get a Postgraduate Loan for a Master’s course in England. You can apply for a loan of up to £10,000 as a contribution towards your course and living costs. If your course is longer than one year you can get up to £5,000 in your first year and the rest in your second year. If you’re studying part time for up to four years you can only get payments in the first two years of your course. The loan will be paid into your bank account in three instalments each academic year. If you have a disability, including a mental-health condition or specific learning difficulty, such as dyslexia or dyspraxia, you might be able to get Disabled Students’ Allowances. These don’t have to be paid back. You can apply for a Postgraduate Loan as soon as the application service opens in late June. You’ll only have to apply once, even if your course is longer than one year. Yes, interest is charged from the day the first payment is made until the loan is repaid in full. Interest will be charged at the Retail Price Index plus three percent. You have to repay any loan you borrow, but not until you’ve finished or left your course and your income is over £21,000 a year. Repayments will be based on your income, not what you borrow. If you’re studying full time you’ll start making repayments the April after you finish or leave your course. If you’re studying part time you’ll start making repayments the April two years after the start of your course or the April after you finish or leave your course, whichever comes first. However, no repayments will be taken before April 2019 and you’ll only start making repayments once your income is over the current threshold of £404 a week, £1,750 a month or £21,000 a year. If you’ve had any other loans from the Student Loans Company for your undergraduate course, you’ll also repay these loans. For example if you took a loan for your undergraduate course that started after 1 September 2012, you’ll repay 9% of your income over £21,000 towards that loan and 6% of your income over £21,000 towards your Postgraduate Loan. So you’ll repay 15% of your income over the threshold in total.