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Postgrads - how did you fund your course?
Former Member
Posts: 1,876,323 The Mix Honorary Guru
I really want to do a MSc this year but obviously it's not as simple as getting all your loans from student loans company any more. I was just wondering how anyone here that has done postgrad who self funded went about it? And how was repaying it afterwards? I am aware of the career development loan you can get from the bank but if I remember rightly you have to start repaying it 3 months after you graduate, which worries me if I don't manage to get a decent job that quickly.
Post edited by JustV on
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They do, but the problem is they're usually only up to £10k, so with most fees now being at least £5k that only leaves another £5k for rent and living for a year. Also you have to start paying them back straight away, which is worrying in the current job climate. So I'll probably have no choice but to go back to my local uni and commute, even though the course I prefer is in Manchester. I did want to go to Plymouth, but they put the fees up by over £4k in a year, so with rent and living on top of that it's completely out of the question My bank don't even do them any more so I don't know if the others are going to follow suit.
Also, is there a way you can get a company/government sector thingy to sponsor your further education?
I do know of a couple of people who worked and did it that way though, so its possible, just probably not as easy.
When you hit PhD level there are a lot more funding options depending on your area of interest.
I didn't know it was possible to stick it on the end of your student loan. I'll be getting my trust fund next year but not until March, which is split between me and my brother. However I have NO idea how much it is but I was hoping it would be enough to use to pay off at least a chunk of my loan as soon as I finish.
Nope, it's endangered species reintroduction/conservation - no one is willing to sponsor anything to do with animals unless it's production animals (that's where all the money/research goes into). And I don't work for any kind of conservation organisation
Normally you have to apply for funding at the same time as you apply for your undergrad course. So a lot of people will do a 4 year undergrad and end up with an MSc, but because it's one 'course' they get funding to cover the whole thing. If you finish your first course completely though, you can't get extra after that. It doesn't seem completely fair to me...
Maybe this could help:
http://www.direct.gov.uk/en/EducationAndLearning/UniversityAndHigherEducation/ChoicesAfterYouGraduate/DG_10012463
I see what you mean. I do think it's unfair that they basically get a sneaky MSc funded while the rest of us have to either scrounge around or get a loan. Well it looks like I might have to go down the loan route - I just hope the trust fund that I'm getting in March (it matures when my brother turns 21 and then we're splitting it - apparently it worked out that we'd get more that way) so I think I'll put that to one side and use it to pay off a chunk when I've finished, or just use it for repayments and hope it lasts until I can get a job to start paying back myself. I've got £2k saved up too but I'd rather not have to touch that.