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Funding & Loans / Debt - MPhil

Hi everyone,

I've been offered a place to study translational neuroscience (MPhil), which I'm very happy about, but am more stressed about the fact that I likely won't be able to attend Cambridge without enough funding as I am an overseas student.

I've already applied to a bunch of scholarships, including Gates / Cambridge Trust / a few from my home country, but I know these programs are very very competitive and I have to be realistic. I also am aware that MPhils are significantly less likely to be funded than PhDs.

My last resort would be to take out loans to fund everything, which would put me and my family in immense debt (£35k tuition + living costs).

I'm guessing quite a lot of people are / have been in a similar situation before, but can anyone provide an opinion on whether they think having to go into debt to do a 1-year Master's course is worth it?

Reply 1

Anonymous #2

Similar situation here tbh. If I don't get funded I probably won't go, especially since my government decided to ignore my request for funding. The internal fund of Cambridge is my last hope. Have you heard anything from them btw?

Reply 2

Anonymous #1

Original post by Anonymous #2

That's fair, I'm honestly not sure what I'll decide - but we won't know funding outcomes until a bit later, so I guess we just have to wait and see!

I haven't heard anything back yet unfortunately.

Reply 3

Anonymous #3

Same boat folks. I'm also an MPhil applicant who recieved the offer in February. But there has been no communication about the Trust or Gates scholarships. I'm wondering if interviews are also a part of the process. For the conditional offer holders, have you submitted the Financial Undertaking Forms even though funding is not out yet?

Reply 4

threeportdrift

Careers Forum Helper

Original post by Anonymous #1

Hi everyone,
I've been offered a place to study translational neuroscience (MPhil), which I'm very happy about, but am more stressed about the fact that I likely won't be able to attend Cambridge without enough funding as I am an overseas student.
I've already applied to a bunch of scholarships, including Gates / Cambridge Trust / a few from my home country, but I know these programs are very very competitive and I have to be realistic. I also am aware that MPhils are significantly less likely to be funded than PhDs.
My last resort would be to take out loans to fund everything, which would put me and my family in immense debt (£35k tuition + living costs).
I'm guessing quite a lot of people are / have been in a similar situation before, but can anyone provide an opinion on whether they think having to go into debt to do a 1-year Master's course is worth it?

It's probably not worth the debt. I don't know much about translational neuroscience, but you have to ask yourself whether the debt will be recouped by the advantages having that Cambridge degree will have on your future earning income.

Given the presumption that you have to be very good at your work to advance in any career, and if you are very good at your work then your degree is pretty irrelevant after the first 5 years of your career, that boils down - Will Cambridge benefit you to the tune of debt/5 in salary increase from the start of your career? About 55k of debt for the Cam degree, so will it get you 11k a year more in salary because you have a degree from Cam rather than anywhere else?

I've discounted a career in academia because you will never pay the debt back that way.

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