If you’re considering a postgraduate degree, understanding your financial options and plans is key. There are multiple initiatives in place to provide support. For example, your funding options include loans (government or private), scholarships, bursaries, employer support and research grants. This guide will provide an overview of those funding options, as well as some other examples.
You can find detailed information about course fees on individual course pages and on further details on our fees and funding page.
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Can you borrow money for Masters?
Loans are often the first funding option students explore. Loans enable you to defer the payment of your fees. For UK national students, the Government postgraduate loans are a popular option.
Postgraduate Masters UK Government loan
A Postgraduate Masters Loan from the UK Government, can support course fees and living costs while you study. It is recommended to apply before you start your degree, where possible. Check the Government website for application deadlines and further information on this option.
Government postgraduate loans follow a similar structure to the undergraduate student finance. For full eligibility criteria, see the Government postgraduate eligibility webpage.
Postgraduate loans are not means tested, meaning household income doesn’t affect eligibility. Postgraduate loans are paid directly to you and you’re able to choose how you spend this money, whether that’s on fees or expenses. For details on payment schedules visit the Government's loan page.
Postgraduate student finance is provided as one loan for both tuition and living costs, unlike the loan structure for undergraduate which often has two separate options.
What about Doctoral study or a PhD?
Postgraduate Doctoral Loans support course fees and living costs while you study a postgraduate doctoral course, such as a PhD. These loans are offered by the UK Government and are subject to specific eligibility criteria.
Private Loans
If government funding doesn’t meet your needs, private loans can offer an alternative or additional source of finance:
Who provides private postgraduate student loans?
National banks will offer loans on general terms that can be used to cover your postgraduate expenses. There are also private loan companies that specialise in offering loans for postgraduate study.
The below providers are examples and are not endorsed by Northumbria University. Always compare terms before applying.
Eligibility differs depending on the provider. Some offer loans to international students with UK addresses, while others focus on UK residents. Check with the individual lender for specific requirements.
Private loan amounts vary by provider. Some lenders will assess how much you are eligible for based on course fees and projected earnings. Check current amounts with individual providers. Remember to only borrow what you need.
Considerations when deciding how much to lend can be:
- The cost of your fees
- The cost of your living expenses including accommodation, food, travel etc.
- The time it will take you to find employment after you graduate
- Your own earning potential
- How much you can afford to repay
Scholarships, Incentives & Bursaries
Can I get a scholarship for a UK Masters?
Scholarships are competitive awards that don’t need to be repaid. At Northumbria we offer a range of scholarships to support your studies, with varying eligibility for both UK and International students..
Alumni Incentives
At Northumbria we offer a 20% alumni discount for students who have completed their undergraduate degree with us and intend to return or continue their studies on one of our full-time or part-time masters courses.
Charity Scholarships
Charitable trusts can sometimes offer grants based on diverse criteria including subject area, financial circumstances, location, or background. Finding relevant opportunities takes time and research but can be worthwhile for you.
Studentships for certain subjects
Certain subjects receive additional grants and studentships to encourage people to study in these fields. In certain cases, studentships are available for particular areas of government investment. Check your academic department about scholarship funding.
Teacher training bursaries may be available depending on your subject and degree classification.
Social Work Bursaries are offered by the National Health Service Business Services Authority. This bursary is available to people who live in England and you must be applying to study on a course approved by either Social Work England (SWE), the Scottish Social Services Council (SSSC), Social Care Wales or the Northern Ireland Social Care Council (NISCC).
Bursaries are also offered by the NHS, eligibility is based on the household income of the applicant. It’s important that you take time to review all the information about NHS Bursaries including who can apply and how much you could receive.
Research Council Funding
Doctoral research funding is available through UKRI and its research councils. These competitive studentships typically cover tuition fees and provide a living stipend. Applicant information and requirements can be explored on their website. To explore research funding consult your department and supervisor, they may be able to offer support with the application process. Research Council Funding is very competitive. Applications are often judged on whether research is meaningful, interesting, and nationally or globally impactful.
Usually, Research Council Funding covers PhD programmes only, though some (often called 1+3 options) include either a Masters degree or MPhil qualification
Other ways to pay for your Masters
If a loan isn’t an option for you, and you aren’t able to source a studentship or bursary then there are alternative options to make paying for your postgraduate education more manageable.
Working whilst you study
Postgraduate degrees offer flexible study options including part time, online and distance learning options. This flexibility may allow you to work alongside your studies.
Your employer
If you’re already in work then you may wish to approach your employer about your postgraduate studies. Many employers have Continued Professional Development schemes.
If your chosen postgraduate degree relates to your development and performance in your job, then your employer may offer financial support or flexible working arrangements.
Funding your masters involves exploring different options and eligibility criteria, to see which is a best fit for you. It is important to consider all options and understand terms and conditions before deciding on how to fund postgraduate education. Many Universities, like Northumbria, strive to support their students in any way possible, thus offer a range of options and financial support services. It’s worth checking fees and funding pages and getting in touch with the subject department or admissions team to explore and understand your options.
Information accurate at point of latest update: Oct 2025.
