The Welsh government has confirmed a new loan scheme for all students enrolled in a Master’s degree programme at any university in the UK., for the academic year 2018/2019 (available to students beginning courses on or after 1 August 2017 only).
However, students coming from the EU can apply for this loan only if they plan to enrol at a university from Wales, provided they also have an available residence permit in Wales.
Check out other favourable options for EU/EEA students to finance their studies in the UK.
Wales decided to support these funding opportunities in order to align with other regions in the UK that have confirmed finance support for EU/EEA nationals.
This is certainly another piece of good news for current and future EU/EEA students in the UK, so get all the details and make the arrangements to apply for the student loan you need.
How the Wales student loan works
The student loan covers an amount of up to 10,280 GBP (for one academic year) and can be used for funding Master courses, both full-time or part-time. Based on a partnership between the Student Loans Company and the Welsh government, payments and application will be managed by Student Finance Wales.
If the tuition for your Master’s programme exceeds the 10,280 GBP amount, you won’t be able to cover it with the Welsh postgraduate loan. Instead, you can supplement your funding by applying to different student loan providers available in the UK.
Applications for a student loan will be taken into consideration if candidates meet the following requirements:
- Are UK nationals or come from an EU/EEA member country
- Have been living in the UK for at least three years
- Have a home address in Wales (before they begin their Master’s programme)
International students welcomed to enhance quality of Welsh universities
Taking note of the important role international students have in creating a diverse and competitive environment in Wales universities, the Welsh government aims to increase opportunities and quality standards in higher education. Welsh university officials consider that a diverse student body is a key step in creating a thriving economic sector in the region. Apprenticeship regulations have been put in place to enforce policies of student loans.
Wales is also considering similar grants and loans scheme for future PhD students. If the decision will be approved, the PhD loan scheme will start from 2018.
With these funding opportunities, the idea of studying abroad in the UK (particularly in Wales area) is becoming less of a financial burden for foreigners living in the UK. You should take advantage and apply to any funding or financing programs for your studies. They are all meant to make your overall study experience in the UK more enjoyable.