On reserve list for taught postgraduate scholarship at Sheffield

I was just informed this afternoon that I've been placed on the reserve list for the University of Sheffield's postgraduate scholarship. I'm in recipient of a conditional offer to complete a taught MA in Journalism, but am likely to defer this or even refrain from postgraduate study altogether if I cannot secure external funding.
Does anyone know roughly how likely it is for applicants on the reserve list to later receive an offer, and how prompt Sheffield is in letting people know if they do? Additionally, is anybody aware of any potential other opportunities for postgraduate funding I could take advantage of?