MSc versus MPhys

Hi all, I wanted to ask some questions about doing an MSc in Physics.
Right now I am signed up to do an MPhys in Physics with Philosophy at Lincoln; I am currently halfway through 3rd year and probably gonna get a first.
However, I had the impression that maybe graduating with a BSc in Physics with Philosophy and then doing an MSc in Physics could look better than just a single MPhys in Physics with Philosophy. Do you think this makes sense, or would they both be regarded equally?
I also understand that there are more modules in the Physics MSc than there are in the MPhys, as each year of an MPhys is 120 credits, whereas the MSc is 180 credits, so I thought the course might be harder; is this true?
In regards to funding, I heard that for an MSc you just get something like 12k total to go to tuition and maintenance. Is this true? Does parental income get factored into this at all? Because of an alumni discount, my tuition fees would be £8160 for the year, so I think that would leave me with £4k in student loans, which is about £700 less than I currently get, altho I could probably afford this if I got a job haha
Thanks for answering my questions :-)

What do you want to do with your degree afterwards? If you want to do something physics related, then the standalone MSc is probably pretty important. If you want to do something that isn't subject specific, like the Civil Service, then why do a Masters year at all?

Haha would you say then that either way then an MSc is better? I am really not sure what I want to do with my degree afterwards. Academia really attracts me but the prospect of being poor for a thousand years does not. I suppose finance or something that utilises my maths abilities or writing abilities is also attractive? I'm really not sure.

Well then focussing in what you want to do in the future is the most important thing. There's no point in adding another £20k of debt when you don't know if that debt will be useful. it's a very expensive way to dither!
In general, the funding for a Masters done as a 4th year undergrad is less specialist and potentially less valuable than a standalone postgraduate Masters, but the funding regime is better because it fits under undergrad SFE.
A standalone PG Masters is generally more specialist, and you can move uni and begin the academic route by going somewhere that specialises in your area. However, the PG funding is slightly less advantageous (though there are more scholarships).

You're right; I should try to clarify my life goals more. Any advice on how to work this out? I have tried a few times and I really can't think of anything that appeals to me (or that I could see myself being good at) that a physics degree would qualify me for. I just wanna be a student forever haha.
My logic before regarding student loans was sort of that I'm already in about 55k debt that I will likely never be able to pay off anyway, so there's not much additional harm in adding another 14k, especially if I get a much better qualification as a result. Also, I just love being a student here.
The main difference I'm seeing between an MSc and an MPhys is that an MSc is 180 credits and an MPhys is 120. I also noticed that the MPhys course my university offers is IoP accredited, whereas the MSc is not; do you think this would make a meaningful difference to my career prospects (if I did want to go into physics)?
Either way, I want to stay at my current university since they offer a great physics with philosophy course. Technically, I wouldn't be doing physics with philosophy if I did the MSc, since it's just a physics master's, but I was told that, since it's not IoP accredited, I can essentially choose to do a research project in philosophy of physics, so it wouldn't be much different in the end.

Go camp out in your Uni careers service and work out why you are getting into so much debt for something you've no clue how to use. Sure, you might not ever pay the sum back, but you will still pay 9% as a tax on any level of successful future salary.

That's great advice! I'm assuming when you did this, probably a long time ago now, they advised you to become a student room moderator and post 35,000 posts over a 20-year time span.
Physics and philosophy are an end in and of themselves for me; I am deeply interested in both, and I know whatever I do, I will be very successful in.
For instance, I can use my deep knowledge of mathematics to inform you that 9% as a tax level "of successful future salary" means I will be paying back the same amount on a monthly basis if I was in £10k debt as I would be in £500k of debt. If I'm never going to pay it back anyway, please inform me why it makes a difference to add more money on top.
Also, why does it say "Careers Forum Helper" on your title when you are not able to offer career help in the careers forum? I've asked the same quite basic question several times now: 'How do an MSc and an MPhys contrast in how they are preferred by employers in physics-related jobs?' And I've still not gotten an answer.