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Report Thread starter 4 years ago
Does anyone know how the student finance system works for those medical undergraduates who are on a 5 year degree? I have done seem research and the results are varied and not conclusive. My current understanding, is that you can get a 4 year student finance loan (identical to those who will be doing a 3 year standard degree), however, for the 5th year you will have to apply to a NHS bursary scheme. Does this mean that many students in the 5th year will have to fund there own degrees or at least partly fund there tuition fees?
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Report 4 years ago
You are pretty much correct. The NHS funds the 5th (and 6th) year - this covers all tuition fees (as a bursary) which you are guaranteed to be accepted onto, and there is a means-tested loan for living costs too. This loan is smaller than the SFE loan, and by this stage you may be incurring significant transport costs for commuting to various hospitals (depending on med school), plus you generally can't work even a part time job, so money gets very tight here yes. You generally need savings, parents' help or private sector borrowing to get through it. It is highly recommend that you plan ahead for these years.

You will generally be looking at £55,000-£60,000 or more student debt when you graduate even if you get the minimum loan, which is sufficient that many doctors will never pay it back, depending on circumstance and interest rate.

This is all, of course, subject to change. Nurses recently had their NHS bursaries removed, so you may in fact be looking at even higher debt levels by the time you graduate.

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