How likely is it to get funding for a current student?

You can apply for student finance up to 9 months after you have started the course.

Thanks a lot! I didn't know that. Is that a general rule that applies to all universities?

I should start my studies this September and I have missed all the funding deadlines. Is it common for students to apply for funding AFTER they have been admitted into the university? Do private institutions or universities ever make exceptions for students with academic merit and who are in financial need?

If you are talking about student finance for undergraduates then the deadline they give is only a rough one which you need to apply by to guarantee your money comes in time. After that they can't be sure when they will get the money to you/the uni. Student finance has nothing to do with universities, they only deal with the access to learning fund for students which is for those in hardship but you have to have already been a student for a little while to qualify (not sure how long).

I'm a postgraduate student.

Which course are you studying? SF isn't available for the majority of postgraduate courses.

I'm a postgraduate student.

MA Linguistics. I contacted Queen Mary and asked them if they would offer funding for current students and their answer was no.

Student Finance definitely wouldn't fund this course, sorry.

There's no State funding for the majority of Masters courses in the UK. Your best bet at this late stage is a Professional & Career Development Loan offered by Barclays or the Co-Op Bank. However these have significant drawbacks:

1) They are a maximum of £10,000, which is very unlikely to cover fees + living expenses for an entire year, especially in London.

2) Unlike Student Finance a PCDL is a commercial style loan and is credit checked, so you're not guaranteed to get anything if the bank considers you a repayment risk.

3) For the same reason, you may get less than you've applied for.

4) There are set repayment terms, which means that - unlike Student Finance - you have to start repaying it on a set date after you graduate, whether you can afford to or not.

A lack of funding for Masters courses is an acknowledged prblem in the UK. Many people find themselves having to work and save up before they can afford it, or turning to family/friends for loans.