Can I apply for a loan for a Masters from 2024-2025 right now (Oct 2023)

I am currently in the process of building up an application for a Masters degree that runs from 2024-2025. I checked on the gov.uk website to look at options for taking out a loan, but it seems to me like they've only just opened loan options for 2023-2024 (unless I'm incorrect)...

Is it possible for me to apply for a loan for 2024-2025 in October 2023 (i.e now?) Or am I trying too early? From people who are doing Masters degrees right now, I've heard that proving that you have funding is a key part of securing your place on a course!

On a separate note, I'm still trying to work out where to find out about and apply for alternative sources of funding (e.g bursaries, scholarships, grants, etc...) If anyone knows of any good places to look, I'd appreciate any leads!!

Thank you :smile:

)

Original post by laun44

I am currently in the process of building up an application for a Masters degree that runs from 2024-2025. I checked on the gov.uk website to look at options for taking out a loan, but it seems to me like they've only just opened loan options for 2023-2024 (unless I'm incorrect)...

Is it possible for me to apply for a loan for 2024-2025 in October 2023 (i.e now?) Or am I trying too early? From people who are doing Masters degrees right now, I've heard that proving that you have funding is a key part of securing your place on a course!

On a separate note, I'm still trying to work out where to find out about and apply for alternative sources of funding (e.g bursaries, scholarships, grants, etc...) If anyone knows of any good places to look, I'd appreciate any leads!!

Thank you :smile:

)

Masters degrees will make you an offer, then it's up to you to find funding. You have to demonstrate you have funding in order to start the course, but you get offers without any consideration of funding.

Original post by laun44

I am currently in the process of building up an application for a Masters degree that runs from 2024-2025. I checked on the gov.uk website to look at options for taking out a loan, but it seems to me like they've only just opened loan options for 2023-2024 (unless I'm incorrect)...

Is it possible for me to apply for a loan for 2024-2025 in October 2023 (i.e now?) Or am I trying too early? From people who are doing Masters degrees right now, I've heard that proving that you have funding is a key part of securing your place on a course!

On a separate note, I'm still trying to work out where to find out about and apply for alternative sources of funding (e.g bursaries, scholarships, grants, etc...) If anyone knows of any good places to look, I'd appreciate any leads!!

Thank you :smile:

)

Hi,

The applications open the summer before the course starts (so will most likely open around June/July 2024 for September 2024 entry)!

Also, I'm pretty sure that whilst they will ask how you are planning to pay for the course, it isn't a key factor in whether they offer you a place or not (or wasn't in my case for my master's in 2021). If you were to apply now, you would probably just get a conditional offer regarding both you meeting their entry requirements and you being able to pay for the course.

But I wouldn't worry, as most people won't even be applying till Summer next year so you are still very early (that's why the finance applications aren't open yet)!! :smile:

The 2023 entry finance will still be open until around June anyway, as they stay open for 9 months from course start dates (which are generally in September) as some people don't apply until they've started.

Best of luck with everything!

Natalie
University of Kent Student Rep (PhD Psychology)

Can I apply for a loan for a Masters from 2024-2025 right now (Oct 2023)

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