How to fund a postgraduate degree
Published on 30 January 13
Are you interested in continuing your postgraduate studies but unsure about how to fund it? Here are some of your options.
For many students, the biggest hurdle stopping them from progressing onto postgraduate study is financial. There is limited University funding available, but on the whole the postgraduate funding experience is as varied as their research.
Alternative funding sources
If you've missed the deadlines for the main Research Council funding streams, or are unsuccessful with your application, don't despair! Most Masters and PhD candidates are self-supported, or supported by alternative funding.
The Alternative guide to Postgraduate Funding is a guide that was written by two PhD students who between them have secured over £45,000 from 52 different charity awards. The guide gives you links to different funding opportunities from the voluntary sector.
Prospects, the graduate careers website, is also a great resource for finding alternative funding sources, including a funding and bursaries search engine, case studies of alterntively-funded students, and in-depth advice on writing proposals.
Part time study
Many students choose to study part time which gives them a chance to earn more money whilst they study, and they also pay their fees over two years, which can make the cost much more manageable.
"I'm funding it myself. I had to do it part time so I could work part time to fund it too." Emma, MA Classics and Ancient History
Studying part time doesn't have to mean that you spend more time away from your department. PhD students who study part time might find that they actually more time to give to teaching and conferences - extra experience that can prove very useful if you're planning an academic career.
It's not just you...
We asked a couple of postgraduate students how they are funding their Masters degree.
Marijn, MA English and American Studies
"I am currently studying for the MA English and American Studies, and paying the £5000 fees can be quite difficult. I personally get a small bursary from the Dutch government, and have topped that up with a student loan. My parents help me out as well, and those incomes together pay for my fees and accommodation. I try to get short jobs here and there to help me earn some more money to do fun things, go to the cinema or go for drinks once in a while. The University Careerslink is really quite useful for these kinds of jobs. I would suggest you earn some money over the summer to get you started, and apply for a position as a Halls Tutor to save on your accommodation costs. Some of my friends preferred to do a part-time Masters, so they can fund themselves through it, so this might be a good option if you don't have others to depend on."
Jack, MA Art Gallery and Museum studies
"I, along with most other PG students I know, cobbled together the money for my masters from quite a random array of sources. I always had a feeling that I’d do a masters at some point so made a conscious effort to put away chunks of my wages from the various jobs I had throughout my UG career. On top of that I got a loan from the bank, extended my overdraft as much as I could and, when I was in a slightly sticky financial situation towards the end of the year, borrowed a little from my parents. I would advise anyone looking to move into PG study to take the time to research the various scholarships, grants and bursaries available from different funding bodies and charitable trusts – there are far more on offer than people realise. Prospects, the UK graduate careers website, has a particularly good set of articles on funding postgraduate study listing all of the current bursaries on the market."
University funding
There are some University studentships, scholarships and bursaries available, normally as part of the main national Research Council streams. These are often very competitive and they may not be suitable for everyone. Find out more about University funding here. Each school also has some funding options, click on the school you’re interested in below to see what they have to offer: