Government masters/MBA loans in Wales

How much can I borrow? 

MBA students in Wales can get up to £18,430 of funding in 2022/23 to contribute towards tuition fees and living costs. This is a mixture of a loan and a grant, and the amount you get depends on the household income.

Does the value of the MBA loan depend on course fees?

For those who have a household income above £59,200 or do not wish to be assessed then the grant is £1,000 and the loan is up to £17,430. Student households that fall between these two income limits will be able to apply for a grant or loan somewhere in between. Household income includes your parents’ income if you live with them, or any partner’s income.

Just like England and Scotland, the amount you receive is not linked to the cost of the course. Unlike England and Scotland however, in Wales there is a means-tested grant that is available to students whose household income falls below a certain level. For students whose household income is below £18,370 then they can access a grant of up to £6,885 and a loan of up to £11,545.

This table, from Student Finance Wales, illustrates examples of the breakdown of the loan and grant depending on the applicant’s salary.

Household incomeLoanGrant
£18,370£11,545£6,995
£25,000£12,500£5,930
£35,000£14,942£4,488
£45,000£15,383£3,047
£59,200£18,430£1,000


Which students are eligible?

The eligibility requirements for MBA loans are the same as in England, so you must not have a masters-level qualification and need to be under 60 years old on the first day of your course. You must also be normally resident in Wales studying a course in a UK-based university. If you are not a UK national then you must have lived in the UK, Channel Islands or the Isle of Man for the past three years. 

Who should you apply to?

To apply for an MBA loan in Wales you should apply to Student Finance Wales online. Contact them directly if you have difficulty applying online for alternative arrangements.

What are the application deadlines?

Applicants should apply in plenty of time for the MBA loan, as students who apply late may only receive the minimum loan and grants available. The deadline in Wales is nine months after the start of your MBA course and you are advised to apply as early as possible.

What about the repayments?

The debt is cancelled if you are disabled or ill and rendered unable to work. Otherwise, repayment terms are the same as England. The loan is paid at 6% of any income earned over £21,000, and repayments usually start on the April after graduation for most MBA students.

Amount

If you’re beginning a Masters in the 2023-24 academic year, Student Finance Wales could provide up to £19,770 in postgraduate funding towards your tuition fees and living costs. The amount for courses starting in 2024-25 will be announced in late spring.

The funding combines a non-means-tested loan and a means-tested grant. The size of the grant you get depends on your household income – the remainder of the £18,370 will consist of a postgraduate loan.

Here are two examples from opposite ends of the spectrum:

  • If your household income is £59,200 or more, you’ll get the minimum grant of £1,000 and a loan of up to £17,770
  • If your household income is £18,770 or less, you’ll get the maximum grant of £6,885 and a loan of up to £11,885

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