At InterActive, we understand that investing in your education is a long-term commitment. That’s why we recommend a number of funding and finance solutions to help you make the best investment in your future.
If you are planning to study a postgraduate programme from one of our UK-based academic partners, please read on to learn more about your funding options.
We also recommend that you research the range of funding options available which are offered by non-governmental organisations, charities, and commercial entities, as well as those offered by InterActive. This will help you make the right decision when it comes to financing your studies.
Online students residing in the UK and studying UK master’s programmes with InterActive are now able to access a tuition fee loan from Student Finance England (SFE).
What is an SFE loan?
An SFE loan provides you with funding to study UK postgraduate degrees. The loans are available for full-time or part-time online learning courses delivered by accredited UK institutions.
How much can I borrow?
You can borrow up to £10,000, spread across three instalments per year.
Who can apply?
SFE loans are available to UK nationals who are permanently residing in England, as well as EU, EEA or Swiss nationals resident in the EU, EEA, or Switzerland.
When can I start?
You can apply for funding for master’s programmes which commence on or after August 01, 2016.
How will I pay repay the loan?
You will pay 6% of any income you earn over £21,000 per annum, starting from April 2019. Interest is charged at RPI+3%.
Are there any restrictions?
You must be under the age of 60 to apply, and you must not hold any current qualifications at postgraduate level or higher.
When can I apply?
Online Applications for SFE loans open at the end of June 2016. Keep checking this page for new updates about the application procedure.
We recommend that you apply early for SFE support to ensure that your funding is in place at the start of your programme of study.
For more information about eligibility or to apply for SFE funding, please contact Student Finance on 0300 100 0607.
Once your loan has been confirmed, SFE will send you a Financial Notification letter showing that you have been approved for a tuition fee loan for your programme of choice.
The Student Loans Company are launching a new form of support that will be available to postgraduate students from September 2016 onwards. You will need to meet the personal and course eligibility criteria to qualify for this support.
- Loan of up to £10,000 for full-time study (£5000 per annum for a PT course up to a maximum of two years).
- Not means tested so the loan amount awarded is not dependant on current earnings.
- Once in a lifetime loan that will only be awarded once to an Individual person.
- The loan is a contribution towards overall costs (not earmarked for fees or living costs).
- Loan funds are paid directly to the student in 3 instalments per academic year (payments begin at start of academic year then usually at the end of January and April).
- Repayment only required once the student starts earning over £21,000 per annum.
- Interest rate is RPI plus 3 - currently 3.9%.
Eligibility for the loan programme
- Students must be under 60 years of age.
- Students cannot be in default of previous SLC loans or deemed unfit to receive the loan.
- Students must be attending an eligible course at an eligible institution. Masters courses must be at least a year in length.
- If the student is attending a part time or distance learning course; these courses are eligible for support as long as the student studies at least 50% of the full time content in the first year.
- The student must be a UK national that is resident in England or an EU national resident in England to attend a PG course. UK nationals resident in Scotland, Wales, or Northern Ireland are not eligible for this loan.
- The candidate must not already have an equivalent or higher qualification, (this includes Ma/LLM, MSc, or doctorate).
Students can apply for this loan online from early summer 2016. As more details are released about this programme we will update our information. You can also visit the slc.co.uk postgraduate funding page for additional information.
Are you looking to study AAT Level 3 or Level 4, but need help with funding?