Postgraduate loans in Scotland

In 2023/24, Scottish postgraduate loans are worth £11,500 in total, split into two pots of money to help with your tuition fees and living costs

How much can I borrow?

Funded by the Student Awards Agency for Scotland (SAAS), Scottish postgraduate loans are split into two categories. In 2023/24, there's a tuition fee loan worth up to £7,000 and a separate living costs loan of up to £4,500.

Neither of the loans are means-tested, so the amount you can borrow isn't affected by your financial background.

If the tuition fee loan isn't sufficient to pay your fees, you'll have to find other sources of funding to cover the difference.

Am I eligible for a Scottish postgraduate loan?

You must:

• have lived in the UK, Channel Islands or the Isle of Man for the last three years
• be ordinarily resident in Scotland at the start of your course.

There are no age restrictions on the tuition fee loan, but to get a living cost loan you need to be under 60 on the first day of the first academic year of your course. Part-time students can't get the living cost loan.

Meanwhile, you can't get the tuition fee loan if you've previously received SAAS Masters funding, but you may be able to access the living cost loan.

If you're a European Union (EU) national, you're eligible for a loan if you:

• have been ordinarily resident in the UK, Channel Islands or Isle of Man for the three years before your course starts
• have settled status through the EU Settlement Scheme (EUSS)
• study at a Scottish university and are planning on graduating in Scotland.

However, EU nationals can only apply for the tuition fee loan, not the living cost loan.

For more details, see SAAS - Postgraduate funding.

Is my course eligible?

Taught Masters degrees and postgraduate diplomas (PGDip) are covered by Scottish postgraduate loans, but PhDs aren't eligible for SAAS funding.

If you're studying full time, diplomas must be no longer than one-year and Masters degrees no longer than two years.

Part-time students can get the tuition fee loan, as long their course is no more than twice the length of its full-time equivalent - up to four years for a Masters degree and two years for a PGDip. Don't forget, part-time students can't get the living cost loan.

You'll need to study at a Scottish university. However, if no institutions in Scotland offer your course you can study elsewhere in the UK. The exception is that EU students must study in Scotland to be eligible.

Although previously ineligible, you can now receive SAAS Masters funding if you're studying by distance learning. Check with SAAS to ensure that your course meets the minimum amount of teaching or contact time between students and teaching staff.

How do I apply?

Apply online via SAAS - Register. The closing date for applications in 2023/24 is 1 December 2023 (in other words, you can still apply even after your course has started) for courses starting between 1 August 2023 and 31 December 2023.

In general, you should apply before 30 June for your funding to be ready for the beginning of a course starting in August/September.

You'll need your National Insurance number, course details and evidence of how you meet the residency requirements.

Applications for tuition fee loans are only valid for one academic year. If your course lasts more than one year, you must apply separately in each year of the course.

How will I receive my loan?

The tuition fee loan is paid to the university on your behalf, while the living cost loan is paid directly into your bank account in instalments.

When do I start repaying my loan?

From the April after your course ends, you'll repay 9% of any income you earn over £25,375 per year (£2,114 a month).

If you had a Scottish undergraduate student loan, this will be combined with your postgraduate loan and you'll make a single monthly payment of 9% towards both debts.

If you're employed and earning over the income threshold, repayments will be taken automatically out of your salary. If you're self-employed, your repayments will be part of your self-assessment tax return.

Interest will be charged on your loan from the time the first instalment is paid to you or your university. The rate of interest is linked to the retail price index (RPI) or the Bank of England base rate plus 1%, whichever is lower. The current rate of interest is 5%.

Find out more

• Search for postgraduate courses in Scotland.
• Learn more about Masters degrees.