Masters loan question

[PensionPuzzle]

Just a quick query for those that have had or know about the Masters loan- if I were to do an OU Masters which has fees in the region of £7k, am I still able to apply for (and more importantly get) the full amount of Masters funding? I know it's not a cheap way to borrow etc etc but I'm order to weigh up the cost/benefit of the whole thing I just wanted to check my understanding of that aspect.

So, irrespective of the specific fees incurred, if you're eligible for a Masters loan, you get the stated amount?

Yes you can still get the full amount. I did this recently and spent the £3k surplus.

Thanks, that's good to know. I have a little sideline that I'd have to mothball in order to free up study time and having access to that extra bit of money would mitigate that (and achieving the qual might even eliminate the need to revive the sideline at all, bonus!)

By the way, did you know you'll get the £11K loan in instalments, over the duration of your course?

@southeastdweller

By the way, did you know you'll get the £11K loan in instalments, over the duration of your course?

Yes be careful of this - I had to borrow the money and then pay them back with the instalments I got from student finance.

Yes I'd spotted that although would have been a nasty shock otherwise! I'm working on the assumption it's a term behind (ish) so at least only one module if doing OU. Don't think I'd be able to stump up for a traditional course all in one go!

I recently did an Msc, I got the loan 11k, in instalments and paid the fees termly. Unis expect that, they know how student loans work. Yes, you put the difference between loan and fees towards living costs.

Yes I am the same as you. I took the max loan and used the rest to top up my part time salary while I completed the post grad.