SLC launches part-time and postgraduate service in Wales
The Student Loans Company (SLC) has launched its application service for postgraduate and part-time study for the 22/23 academic year.
The Student Loans Company (SLC) has launched its application service for postgraduate and part-time study for the 22/23 academic year.
And the message to students is to get their applications in early to ensure they have their finance in place at term start.
Part-time undergraduate and postgraduate Master’s students in Wales can apply for a combination of loans and grants to help with their course and living costs. Postgraduate Doctoral students can apply for a loan to help them with their course and living costs. They can apply online now, even if they don’t have a confirmed place on a course.
Chris Larmer, SLC Executive Director, Operations said:
“SLC exists to support people to invest in their futures through further and higher education by providing trusted, transparent, flexible and accessible student finance services. It’s an important milestone in our organisation as we launch the service for part time undergraduate and postgraduate students. We know many students will have been waiting for this to happen and we want to encourage students to get their applications early so they can start the new academic year with funding in place.”
The easiest way for part-time and postgraduate students to apply is online at: https://www.studentfinancewales.co.uk/discover-student-finance/ Applications can take six to eight weeks to process and students will be contacted if any additional information is needed.
Chris added:
“We know that the next few months will be an exciting but busy time for students, as they prepare for the Autumn term. Whether they are planning to study part-time, or are embarking on a postgraduate course, applying for student finance now will give them a head start as they begin to get organised for the year ahead. It’s quick and easy to do and once they’ve submitted their application they can relax - we will contact them if there is anything else we need.”
To help part-time and postgraduate students with their applications for funding, SLC has produced the following key facts:
Key facts about Part time Student Finance
- Part-time undergraduate students can apply for a combination of loans and grants to help with their course and living costs. 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 the ratio of how much Maintenance Loan and how much grant 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.
- Watch our short film for more information on part time funding.
Watch our short film for more information on part time funding.
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. 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.
Watch our short film to find out more about Postgraduate Master’s funding.
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.
Watch our short film to find out more about Postgraduate Doctoral Finance.
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.