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Finance for Master's- how is this supposed to work?!

Hi all,
I'm in a bit of a dilemma here.

I'm wanting to apply for my master's for next academic year (20/21), however, I'm confused as to how I'm supposed to afford living minus course costs. All of the courses I'm wanting to do are about £7000-8000.

Does anyone know of any additional funding from research councils etc. that I could potentially tap into? Any help would be useful!

Many thanks!
Original post by ryancsh
Hi all,
I'm in a bit of a dilemma here.

I'm wanting to apply for my master's for next academic year (20/21), however, I'm confused as to how I'm supposed to afford living minus course costs. All of the courses I'm wanting to do are about £7000-8000.

Does anyone know of any additional funding from research councils etc. that I could potentially tap into? Any help would be useful!

Many thanks!


Until 2 years ago there was no masters loan and postgraduate students had to fund living costs and tuition fees from their own pockets. The postgraduate loan has made a big difference to the amount of people who can afford postgraduate study but it wasn’t designed to cover all costs. Most people work and save for a few years before studying a masters and/or study part time alongside work to fund their studies.
Original post by PQ
Until 2 years ago there was no masters loan and postgraduate students had to fund living costs and tuition fees from their own pockets. The postgraduate loan has made a big difference to the amount of people who can afford postgraduate study but it wasn’t designed to cover all costs. Most people work and save for a few years before studying a masters and/or study part time alongside work to fund their studies.


I thought the loan covers only the tuition fees, at the amount required by specific university, and the student never even sees a penny of it?
Original post by PTMalewski
I thought the loan covers only the tuition fees, at the amount required by specific university, and the student never even sees a penny of it?

I think you're thinking of the undergraduate tuition fee loan. The postgraduate loan is paid directly to the student, and they can use it to pay their fees or living costs.
Original post by ryancsh
Hi all,
I'm in a bit of a dilemma here.

I'm wanting to apply for my master's for next academic year (20/21), however, I'm confused as to how I'm supposed to afford living minus course costs. All of the courses I'm wanting to do are about £7000-8000.

Does anyone know of any additional funding from research councils etc. that I could potentially tap into? Any help would be useful!

Many thanks!

The loan is only designed to supplement existing funds (i.e. savings, income, parental contributions etc.), so most people work and save up for a few years before they go to study a master's. If you're interested in doing a PhD after your master's, some research councils offer a 1+3 studentship (where fees and a stipend are paid for you for 1 year of master's and 3 years of PhD study), but these are pretty competitive.
Original post by PTMalewski
I thought the loan covers only the tuition fees, at the amount required by specific university, and the student never even sees a penny of it?

No. The PGL is paid to the student to spend as they like. They can use it towards fees if they want or spend it all on freddos
Hi there @ryancsh

As @PQ and @PhoenixFortune have said, as post graduates, the loan is paid directly to you to live off or pay your course fees. I used it for both. I paid for my MRes and had a little left to live on, but I had 2 jobs throughout my Masters to ensure I had enough to live off. There are charities etc you can research and see if you can apply for grants to assist you.

Fi :horse:
Original post by ryancsh
Hi all,
I'm in a bit of a dilemma here.

I'm wanting to apply for my master's for next academic year (20/21), however, I'm confused as to how I'm supposed to afford living minus course costs. All of the courses I'm wanting to do are about £7000-8000.

Does anyone know of any additional funding from research councils etc. that I could potentially tap into? Any help would be useful!

Many thanks!

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