UK Postgraduate student loans for 2016-2017 intake The UK government announced that from 2016-2017 student loans for masters degree will be available up to a value of £10000. 

I will complete a masters degree in August this year and I intend to do another masters degree starting in October this year. 

Will I be eligible for these new student loans? 

Or will only people who are doing their first masters be eligible?
The UK rules on student loans are described here.
Basically, it says that those doing their second masters are not eligible.