Phoenixfeather99
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How do people fund themselves through a masters degree?
The postgraduate loan at its current rate would only leave me with just over £2000 for living expenses which wouldn’t even cover accommodation.
Do people take gap years and work to save? Do you work during undergraduate and postgraduate to fund the living expenses of the postgraduate?
I’m going into second year of undergraduate so I still have a bit of time to prepare but I am starting to really worry about finances.
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Noodlzzz
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1) save money from gap year
2) part-time job
3) live at home

You could look at an integrated masters? Or 1+3 PhD?
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Phoenixfeather99
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(Original post by Noodlzzz)
1) save money from gap year
2) part-time job
3) live at home

You could look at an integrated masters? Or 1+3 PhD?
Hi.
I don’t particularly want to take a gap year as I will have to take a “gap year” or 2 or 3+ after the masters in order to get onto the PhD I want to do so taking another year out feels rather frustrating.
I have a part-time job currently so I’m planning on heavily saving what I currently earn to help fund my way through masters.
Staying at home isn’t really an option. My local uni isn’t great and the next nearest unis are 1+ hour away and they don’t offer the degree I want to do (it’s quite specific).
I’m just wondering if there are other funding options other than the postgraduate loan that I’m not aware of that I could look into. Surely there is something due to how many people go straight on to do masters, unless everyone is amazing at saving or has rich generous parents
I just need to magically find at least £6000 or so over the next 2 years.
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Noodlzzz
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(Original post by Phoenixfeather99)
Hi.
I don’t particularly want to take a gap year as I will have to take a “gap year” or 2 or 3+ after the masters in order to get onto the PhD I want to do so taking another year out feels rather frustrating.
I have a part-time job currently so I’m planning on heavily saving what I currently earn to help fund my way through masters.
Staying at home isn’t really an option. My local uni isn’t great and the next nearest unis are 1+ hour away and they don’t offer the degree I want to do (it’s quite specific).
I’m just wondering if there are other funding options other than the postgraduate loan that I’m not aware of that I could look into. Surely there is something due to how many people go straight on to do masters, unless everyone is amazing at saving or has rich generous parents
I just need to magically find at least £6000 or so over the next 2 years.
There are some scholarships I'm sure. I know UCL were offering free tuition fees if you got a 1st at undergrad a few years back fro psych.
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kitkatkate281
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Some Universities offer scholarships if you get a 1st in your undergraduate, and most offer a discount if you’re taking a masters at the same place you done your undergraduate (but if you’re taking a specific masters, I’m guessing this isn’t the case). I got a scholarship but it still wasn’t enough, so I’ve used some of my savings, and I worked during the summer and the first semester. It’s hard, and it’s really annoying that the loan doesn’t cover much, but it’s definitely possible, even without the scholarship It’s recommended that postgrads work no more than 20 hours a week, which I would agree with, but I know others who worked more. But I think the best thing to do is save up by working in the summer/during your undergrad, just because it takes the pressure off a bit during your masters. Good luck!
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Ki Yung Na
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(Original post by Phoenixfeather99)
How do people fund themselves through a masters degree?
The postgraduate loan at its current rate would only leave me with just over £2000 for living expenses which wouldn’t even cover accommodation.
Do people take gap years and work to save? Do you work during undergraduate and postgraduate to fund the living expenses of the postgraduate?
I’m going into second year of undergraduate so I still have a bit of time to prepare but I am starting to really worry about finances.
I'm thinking of doing the same. I've been working throughout first year and intend to work throughout the next two years. I'm commuting to uni to save money, and that saving adds to the earnings and that all together should give me enough to either move out into the north or commute to a more prestigious London programme.

The difference between needing extra years to find between you and me, is being made by the savings I'm making by commuting.

I commute by bus so it's quite cheap.

Don't fret. You'll get there, you'll need a little extra time. But if you're '98 born, that's fine bc you won't be far behind. I'll be 27 when I start a master's
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PhoenixFortune
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(Original post by Phoenixfeather99)
How do people fund themselves through a masters degree?
The postgraduate loan at its current rate would only leave me with just over £2000 for living expenses which wouldn’t even cover accommodation.
Do people take gap years and work to save? Do you work during undergraduate and postgraduate to fund the living expenses of the postgraduate?
I’m going into second year of undergraduate so I still have a bit of time to prepare but I am starting to really worry about finances.
Apart from saving, universities sometimes offer discounts if you get a 1st, or if you are an alumnus of the university. Scholarships offered by the university are also an option (but you'll probably have to meet a certain set of criteria).
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