Postgraduate Funding

Thinking of starting postgraduate study ?

Undertaking postgraduate study is a big financial commitment, it is essential to secure enough funding to cover both your tuition fees and living costs for the length of your course but with careful planning many students are able to find ways of affording to study at postgraduate level. 

We have some useful budgeting guidance and resources on our website, which you can use to help you plan your finances for your course. First calculate your living costs and check your tuition fee amount so you will know how much money you need to find. Then you can start looking for sources of funding. Our Postgraduate Funding Guide is a good place to start.

Applications for SFE Postgraduate Master’s and Doctoral Loans for 2020/21 are now open. These Loans can help you with your course or living costs while you study.

Eligible students, starting Master’s courses in 2020/21, can borrow up to £11,222 and it’s not income assessed.  £11,222 is the maximum for the whole duration of the course.  If your Master’s course is longer than one year, the total loan amount will be split across the number of years of the course. 

Eligible students, starting doctoral courses in 2020/21, can borrow up to £26,445 and again it’s not income assessed. Similarly, £26,445 is the maximum for the whole duration of the course so the total loan amount will be split across the number of years of the course. 

SFE Postgraduate Loans are paid directly to you in three instalments throughout the academic year. They are intended as a contribution towards the cost of postgraduate study so they may not cover your full costs. Unlike undergraduate funding there are no additional loans or grants available to pay course tuition fees, support children and pay childcare costs or to support other dependents so it is really important to calculate your living costs and check your fee amount so you know how much money you will need to find according to your own circumstances.

Queen Mary also offers a significant package of competitive scholarships in a range of subject areas, as well as external sources of funding. Please see the Funding a Masters and Funding a PhD webpages for more information and to search the database of scholarships.

Many students work part-time during their studies to boost their income and gain valuable skills and experience. You may be worried about finding work due to the COVID-19 situation. Queen Mary Careers and Enterprise are continuing to support students throughout the COVID-19 outbreak and lots of employers are still recruiting during this time. Once you are enrolled at Queen Mary, you’ll have access to QMJobsOnline to browse open vacancies. You can follow the Careers and Enterprise blog to keep up to date with the latest employment market information and insight from employers. Please also see our Part-time and Vacation Work Guide.

If you have any questions or concerns about funding postgraduate study at Queen Mary, once you have read our guidance, please contact us.

Graduate Money Tips

Congratulations on coming to the end of your degree! We hope these tips will help you to organise your finances and to understand what you are entitled to so you can plan ahead.

We have some useful budgeting guidance on our website, which you could use to help you plan for the next few months. If you are working, budgeting will be a little more straightforward than when you were studying because where your maintenance loan income was paid termly, wages are usually paid monthly, which is how most bills are charged.

If you have deferred exams until August or are resitting, if you are in financial hardship and will need additional financial support, you can apply to the Queen Mary Financial Assistance Fund (FAF).  The deadline to apply is 10 July 2020 and you apply via Mysis. If you have not made a FAF application already this academic year you will need to complete a full FAF application online via Mysis. The application process is explained here.   If you have already made a FAF application this academic year then, to be considered for summer support, you need to email and ask them to re-open your application.

Save the Student has useful guidance about choosing a graduate bank account, including their review of the best graduate accounts this year.

If you have credit cards, overdrafts or personal loans, temporary rules have been put in place due to the current situation about freezing repayments, and offering interest free overdrafts. For more information see the FCA website.

You are not liable to start repaying student loans until at least April 2021, and then only if you are earning a minimum amount of money. There is more information on the website.

If you are not working and you are concerned about finding a job, once your course has officially ended you can usually claim Universal Credit (UC) online from 1st June 2020. This is to help with your living costs. You can claim whether or not you are liable for rent, but if you are paying rent then you can usually claim a higher amount of UC. Universal Credit is paid monthly in arrears and can take at least 5 weeks to process. You will need to satisfy any work related requirements that apply to you but these are taking into account the current job situation. There is more information including how to apply on the website. The Turn2Us website has a welfare benefits calculator