How to Fund a MSc Course?

Hi,

I'm currently an Undergraduate Student studying Computer Science (BSc), and I am thinking about doing a MSc in Advanced Computing after my BSc, but I am unsure on how the funding works for Postgraduate Courses. The Postgraduate Loan only covers £12,471 but the course I want to do is £22,250. I can't really pay for it out of my own pocket so is there no way for me to apply for this course?

For reference, the course I'm looking at is Advanced Computing MSc @ Imperial College London.

Reply 1

Baleroc

Original post by 04Samir

Hi,
I'm currently an Undergraduate Student studying Computer Science (BSc), and I am thinking about doing a MSc in Advanced Computing after my BSc, but I am unsure on how the funding works for Postgraduate Courses. The Postgraduate Loan only covers £12,471 but the course I want to do is £22,250. I can't really pay for it out of my own pocket so is there no way for me to apply for this course?
For reference, the course I'm looking at is Advanced Computing MSc @ Imperial College London.

Other than applying for a job and getting the money that way or getting a scholarship, I doubt the course is for you.

The £22,250 is not the entire cost of the course. The entire cost of the course is likely £42,250+. You didn't include living costs in London, which for a year these days, is probably about £20,000. So I think you are much better applying for a course out of London, possibly in your home town if possible.

My recommendation for you:

Transfer to an integrated master's degree for Computer Science for your current degree. Student Finance will pay for the master's AND give you money for living costs as well. It is the only feasible option for students these days. Student Finance will only do this for integrated master's. A standalone master's, like an MSc is very likely too expensive for the vast majority of students.

Applying for a MSc at Imperial you need a LOT of money and financial stability to begin, or have a scholarship, which is generally not for you.

I'll be quite honest, the Master's degree loan is not fit for purpose anymore. With the cost of living and increased university fees, it really is not enough and it should be raised. These days, it should be at least £25,000, to pay for the course and living costs. But that is very unlikely to happen given universities are still capped at £9250 a year for undergraduate degrees, and are at breaking point. So, the government has universities and students at the bottom of their priority list right now, so it's unlikely the loan will change.

For future students:

If you want a master's at a top university, like Imperial, UCL, Oxford or Cambridge, it is only realistic to obtain one by doing an integrated master's degree at that university. Integrated master's get the entire course paid for, and you are also paid money for living costs. A standalone master's degree at a top university is almost certainly not affordable for 99% of students for universities like UCL, Oxford, Cambridge, Edinburgh, unless a scholarship or lots of savings is obtained.