SLC invites part-time and postgraduate students in Wales to apply for student finance

The Student Loans Company (SLC) is asking part-time and postgraduate students in Wales to apply now for student finance.

Part-time students can apply for funding to pay their tuition fees and some students may also be able to apply for a Maintenance Loan to help with their living costs. They can also apply for a Welsh Government Learning Grant (WGLG) which they don’t have to pay back.

Postgraduate students can apply for either Postgraduate Master’s funding or a Postgraduate Doctoral Loan to help them with their tuition fees and living costs.

Chris Larmer, SLC Executive Director, Operations said: “I’m delighted to announce that the application services for part-time and postgraduate students are now open. As always, our advice is to apply early to ensure funding is in place before the start of term.”

The easiest way to apply for part-time or postgraduate funding is online at www.studentfinancewales.co.uk and students can do so now even if they don’t have a confirmed place on their course. Applications can take six to eight weeks to process. Students do not need to contact SLC during this time to check on the status of their application. They will be contacted if any additional information is needed.

To help part-time and postgraduate students with their application for funding, SLC has produced the following key facts:

Key facts about Part time Student Finance

• You can apply for a Tuition Fee Loan to pay for tuition fees and a Maintenance Loan to help with living costs. You can also get a WGLG which you don’t have to pay back.
• Part-time distance learning students are not eligible for Maintenance Loans unless they cannot attend their course in person because of a disability.
• Your student finance entitlement is based on your study intensity – not your household income. Your household income will only be used to work out how much Maintenance Loan and how much WGLG make up your entitlement.
• You need to reapply for funding for each year of your course.
• You start repaying your loan the April after you finish or leave your course or the April four years after the start of your course (even if you are still studying), whichever comes first. You repay 9% of what you earn over the repayment threshold which is currently £27,295 per annum.
• Watch our short film for more information on part time funding.

https://www.youtube.com/watch?v=rjK2dG8Lfnw

Key facts about Post Graduate Master’s funding

• Postgraduate Master’s funding is a mixture of loans and grants. The amount of grant and loan you get is determined by your household income.
• All eligible students are entitled to a grant of at least £1000 which doesn’t have to be paid back.
• You only need to apply for postgraduate master’s funding once, even if your course is longer than a year. Your funding will be divided equally over each year of study.
• You start repaying your Postgraduate Master’s finance the April after you finish your course but only if your income is over the repayment threshold. You repay 6% of what you earn over the repayment threshold which is currently £21,000 per annum. If you have other student loans you repay these at the same time.
• Extra help may be available if you have a disability.
• Watch our short film to find out more about Postgraduate Master’s funding.

https://www.youtube.com/watch?v=5M81hca9Pn8

Key facts about the Post Graduate Doctoral Loan

• You can get funding to help with course fees and living costs.
• Postgraduate Doctoral Loans are not based on your household income.
• You only need to apply for a Postgraduate Doctoral Loan once, even if your course is longer than a year. Your funding will be divided equally over each year of study.
• You start repaying your Postgraduate Doctoral Loan the April after you finish but only if your income is over the repayment threshold. You repay 6% of what you earn over the repayment threshold which is currently £21,000 per annum. If you have other student loans you repay these at the same time.
• Extra help may be available if you have a disability.
• Watch our short film to find out more about Postgraduate Doctoral Finance.

https://www.youtube.com/watch?v=xs18MKjLOLY

Postgraduate and part-time students can also stay up to date with all the latest information by following Student Finance Wales on Facebook and Twitter.