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Posted Nov. 26, 2025

Funding options for online masters courses: loans, bursaries and scholarships in the UK

The debate surrounding online vs. on-campus masters courses has never been so heated. While once seen as a degree type that could hinder rather than aid your career prospects, the growing acceptance of online masters courses and the increasing number of online syllabuses available from reputable UK universities is changing the narrative.

An online masters degree can offer a postgraduate experience that is engaging, interactive and supportive. With these courses academically equivalent to on-campus degrees yet able to be studied around your schedule, there really is a lot to gain from studying a masters degree online.

Like a traditional masters degree, online courses come with hefty price tags. Studying a masters online is however generally cheaper than studying on-campus as this blog on Snatika details:

“The fee for online UK Masters Degree programs is comparatively lower than that of the on-campus programs. For online learning, there is no need for physical structures like classrooms, libraries, eateries, and accommodation facilities. Universities will save money on maintenance costs like electricity, plumbing, and cleaning. They also save a large amount of manual labour that comes with staffing, training, and living expenses.”

There are funding and financial support options available for all postgraduate students, including those looking to fulfil their dreams through distance learning. Here are just a few of them…

Get a government loan

The UK government offers a fantastic opportunity to fund your postgraduate studies if you are a home student. While it can’t be used to finance a postgraduate certificate or diploma, their Postgraduate Master’s Loan can fund full-time and part-time masters qualifications that are being studied via distance learning.

To be eligible, you’ll need to be living in England on the first day of the first academic year of your masters course, and remain in England for the whole course if you’re an EU national. If you’re not an EU national, you’ll have the option to reside anywhere in the UK for the duration of your course.

Go private for finance

There are several lenders that specialise in the funding of postgraduate education. This includes Prodigy Finance, Lendwise and MPOWER Financing. When taking out a private loan to fund your online masters degree, pay attention to the interest rates, fees and repayment terms of the loan. It could save you a lot of money and hassle post-graduation. Always make sure you can afford the repayment terms before taking out a private loan.

Explore discounts and scholarships

Online learners are eligible for bursaries, discounts and scholarships too. In fact, there are countless UK universities that provide such support for their distance learners.

Some sources of funding are needs-based or merit-based, so read the criteria carefully before applying. Your eligibility may be based on your location, with several regional scholarships accessible to those looking to strengthen their knowledge with an online postgraduate qualification. Financial discounts are also available for alumni in most circumstances.

It’s not just your university that could help with bursaries, discounts and scholarships. Such support is available through UK charities, trusts and foundations, with the British Federation of Women Graduates (BFWG), Leverhulme Trade Charities Trust and Savoy Educational Trust just some of the organisations offering grants for online postgraduate study.

Visit our Scholarships Zone to discover more about the student finance and funding options available to those looking to study postgraduate online and on campus.

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