In what will come as welcome news for a number of Sussex undergraduates, a new system of postgraduate loans for Masters degrees in the UK will be introduced this year for those applying to study in 2016-17.
For the first time ever the government will provide finance to enable students to undertake taught postgraduate study, ensuring that talented students aren’t priced out of continuing their education.
The announcement is recognition of the substantial benefits arising from postgraduate taught education and will see loans of up to £10,000 available for students eligible for Masters courses from September 2016.
However, the loans aren’t merely for the young, with eligibility conditions stating that students need to be under 60 years of age to apply. Despite this, loans won’t be means tested, i.e. applicants' income will not affect the amount that they receive.
The news coincides with the launch of generous scholarship schemes at Sussex including the Sussex Graduate Scholarships, which provide awards of up to £5,000 for current Sussex students undertaking full-time Masters study in 2016.
Terence O’Donnell, Senior Postgraduate Liaison Officer, said: “The introduction of the new £10,000 postgrad student loans is recognition of the substantial benefits arising from postgraduate study and the need for support to ensure that talented students are not priced out of Masters study.
“Alongside our generous scholarship schemes, the loans will make Masters study at Sussex more affordable and more accessible than ever before.”
Applications for these new loans are expected to open at the end of June, with eligibility given to all taught Masters courses.