When embarking on further study, one thing to bear in mind is that it does not come cheap. Many students work part-time, but in some cases a loan is necessary to cope but there is also a number of opportunities for funding.
Ways of funding can depend on the discipline, whether you choose to study full-time or part-time, whether it be taught or research. For those going into full-time study, career development loans (CDLs) have proved a popular way to cover costs. Many part-time postgraduate students work a full-time job to fund their studies – though this can be extremely demanding.
You may also want to consider working full-time until you have enough money saved to cover the cost of fees and living costs. Some employers may even offer to pay for a postgraduate course if they feel it is appropriate to your role and future career path with the company.
Research Councils are the best port of call when looking to fund your further study. This involves applying directly to the department in which you want to study. The department then selects the best candidates. University institutions also have some money for funding postgraduate courses, check out the university funding information pages for more details.
For a MBAs, help for funding can come from the Association of MBAs. To find out more and if you are eligible for the MBA Loan Scheme, visit www.mbaworld.com for more information.
For some other courses, bursaries may be available to pay for fees. These are only usually available for courses such as teaching, social work and healthcare. However, there a number of charities, foundations and trusts which also offer grants.
The main point to take out of funding a postgraduate is that it needs careful planning and research. There are plenty of options out there, but make sure you get in early.
- Hot courses – www.scholarship-search.org.uk
- Arts and Humanities Research Council – www.ahrc.ac.uk
- Biotechnology and Biological Sciences Research Council – www.bbsrc.ac.uk
- Economic and Social Research Council – www.esrc.ac.uk
- Engineering and Physical Sciences Research Council – www.epsrc.ac.uk
- Medical Research Council – www.mrc.ac.uk
- Natural Environment Research Council – www.nerc.ac.uk
- Science and Technology Facilities Council – www.scitech.ac.uk
- Postgraduate Studentships – www.postgraduatestudentships.co.uk