I can confirm that I am laying regulations today, which are subject to parliamentary scrutiny, to launch a new postgraduate master’s loan.
Students will be able to apply for a loan of up to £10,000 as a contribution towards the cost of an eligible postgraduate master’s qualification. The loan will be available to eligible students under the age of 60 undertaking certain full or part-time master’s courses in any subject from academic year 2016-17 onwards. Repayment will be on an income contingent basis to ensure the loan is affordable.
By delivering on this manifesto commitment we will be helping to remove the financial barrier faced by many wishing to study at this level and providing students with the means to invest in their futures.