Hello everybody !
I am in a desperate need of clarification/help/information at this very stressful period of time.
I got accepted to University of St. Andrews for MSc in Finance this year. I already applied to SAAS for funding and successfully received it. My tuition fee for the year will be £9,870. SAAS are going to cover £5,500 and I will make a pre-entrance fee of £500, which will be deducted from the leftover tuition fee. This leaves me with £3,870 to be paid from my own pocket.
Now, I could easily ask my parents to cover that, but firstly I do not want to do that and, secondly, they do not even have a lump sum of around £4000 to cover.
I am thinking of working at least part-time during the first semester, so I could cover my living costs with that for at least half a year, but as I read carefully, people do not suggest working in a more important second semester, so I would need say around £2,500 for the living costs, as I have my own £1,000 of savings.
All in all, £3870 + 2500 = £6370, that I would need to get covered, but in the worst case scenario, at least £3,870 to pay the tuition fees fully, and with the rest of the amount I could think of smth with my parents.
How would you go about this situation? I am a Lithuanian, i.e. EU citizen, living for the last nearly 6 years, 4 years in Scotland and ~2 years in England. Apparently, I am not eligible for the maintenance loan. I was looking for private loan companies, such as Future Finance, they somehow rejected me straight away, only one of those, i.e., RateSetter could offer me loan, but the conditions are quite harsh.
Anyways, what other way of financing this rather "small" financial difficulty you could think of from your knowledge or personal experience.
I would more than thankful for any kind of information and help you could provide.
I was absolutely flattered and happy to see the offer from such university and I would not like to miss such an amazing opportunity this year even if that would mean the most difficult year in my life.
I look forward to hearing from you all.
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You should check to see what bursaries and scholarships they have.
UK students have access to a career development loan, but I think as a non UK citizen that would not be open to you.
I can only think if it were me I would defer, get a job, save the money and then do it. You run the risk of doing poorly because you are too busy trying to earn money.