Online master’s: does the loan still apply?

Yes, if you live in England on the first day of the course and stay in the UK. The rule, and which online courses count.

Key facts

Distance learning
Loan available if living in England on day one
Stay in
The UK for the course; England if an EU national
Amount
£13,206, same as campus study
Course rules
Full standalone master’s, 1 to 2 years full-time or 2 to 4 part-time

Yes. GOV.UK says you can get the Master’s Loan for distance learning if you are living in England on the first day of the first academic year of the course. You must then stay in the UK for the course (in England if you are an EU national), with exceptions for the armed forces and their families. The amount and the course rules are the same as for campus study.

Courses for this guide

Online courses in the finder

Master’s, accelerators and bootcamps taught online. Enter your details once to see the loan position and the ways to pay for each.

You are seeing example figures, not yours

We have filled in figures for a typical applicant so you can see how the finder works. Change them to yours and every result updates.

Courses with a StepEx loan

StepEx Lender Ltd offers loans for these courses. Approval is not guaranteed.

LSE · with FourthRev

StepEx loanSee the representative example
Digital Marketing, Strategy & Analytics Career Accelerator LSE

Short course · Part time · 6 months · Online

StepEx loan: 24 months · 0.8% APR representative

Fee
£6,300

Fee for Current offer

No SLC loan
Affordability
Outcomes
University employment rate: not available

King's College London · with FourthRev

StepEx loanSee the representative example
KCL Product Management Career Accelerator

Short course · Part time · 6 months · Online

StepEx loan: 24 months · 0.7% APR representative

Fee
£6,400

Fee for Current offer

No SLC loan
Affordability
Outcomes
University employment rate: not available

LSE · with FourthRev

StepEx loanSee the representative example
LSE AI Leadership Accelerator

Short course · Part time · 6 months · Online

StepEx loan: 24 months · 0.6% APR representative

Fee
£7,995

Fee for Current offer

No SLC loan
Affordability
Outcomes
University employment rate: not available

Our ranking is impartial: whether a course has a StepEx loan is not a factor. All courses are ranked by affordability, then graduate pay at 5 years. Courses with a StepEx loan are also shown in a separate section above.

More about how we rank

Top 5 of 102 courses

99 likely affordable · affordable first, then highest graduate pay at 5 years

Sort

Bath

MSc Business Analytics (online)

MSc · Part time · 27 months · Online

Fee
£14,994

Fee for 2027 · whole course, over 3 years

£1,788 more than the SLC master's loan covers
Affordability
Outcomes
University employment rate: 90%

Portsmouth

Forensic Accounting MSc

MSc · Part time · 2 years · Online

Fee
£11,500

Fee for September 2027 start · whole course, over 2 years

The SLC master's loan covers the fee
Affordability
Outcomes
University employment rate: 60%

SOAS

MSc Banking and Finance (Online)

MSc · Part time · 2 years · Online

Fee
£12,000

Fee for 2026/27 · whole course, over 2 years

The SLC master's loan covers the fee
Affordability
Outcomes
University employment rate: 76%

The University of Law

MSc Corporate Financial Management Online

MSc · Part time · 2 years · Online

Fee
£12,450

Fee for 2027/28 · whole course, over 2 years

The SLC master's loan covers the fee
Affordability
Outcomes
University employment rate: 63%

The University of Law

MSc Corporate Financial Management Online Full-time

MSc · Full time · 1 year · Online

Fee
£12,450

Fee for 2027/28

The SLC master's loan covers the fee
Affordability
Outcomes
University employment rate: 63%

Open Affordability or Outcomes on any course for the detail. Courses with a StepEx loan are marked and get no preference in the order. How we work it out

Paying the university directly assumes three instalments: at the start, after 4 months and after 7 months. Estimates based on the figures shown, not advice. A StepEx loan is subject to identity, affordability and credit checks; approval is not guaranteed.

What counts

The course must still be a full standalone master’s at a UK provider. Online postgraduate diplomas and certificates, bootcamps and career accelerators are excluded for the same reason as on campus. The University of Law’s online MA Law (SQE1) is a master’s and qualifies; its online PGDL is a diploma and does not; the Imperial and Manchester bootcamps and the FourthRev accelerators are online but not degrees.

Living costs

Studying online can mean no move and lower living costs, so more of the loan can go to the fee. The loan is still paid to you in three instalments, and you pay the provider on its own dates.

Ways to pay

  • Student loan. Where the course qualifies, the Master’s Loan of £13,206 (England; other UK nations differ, see the nations guide).
  • Pay the university. Ask about paying in instalments across the year; the university’s own page sets the dates.
  • Employer. Some employers pay all or part of a fee, usually with a condition that you stay for a period afterwards.
  • Scholarships and discounts. University scholarships and alumni discounts, see the scholarships guide.
  • StepEx loan. On the courses listed on the finance availability page, credit from StepEx Lender Ltd lets you pay the fee in monthly repayments after a deposit. Approval is not guaranteed. The representative example for each course is on the provider’s page.

A StepEx loan is credit from StepEx Lender Ltd, available on the courses listed on the finance availability page. Approval is not guaranteed. The representative example for each course is on the provider’s page.

Ways to pay

  • SLC

    The government SLC master's loan. The amount depends on where you live.

    How the SLC master's loan works
  • Pay the university directly

    Usually in three instalments: at the start, after 4 months and after 7 months.

  • StepEx loan

    Available on some courses here. See the representative example on the provider page.

    Check finance availability

Questions people ask

Apply to your own nation’s funding body; the funding follows where you normally live, not where the university is. See the nations guide.

Not with the loan. You must be in England on the first day and stay in the UK for the course.

Related guides

Sources and dates

Estimates, not advice.

Questions about these guides? Contact us.