How does this new student funding work?

craptakular

craptakular

craptakular

Soldato
Joined
7 Jan 2007
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Sussex, UK
OK, firstly before I begin I don't want to hear if you think this new structure is a brilliant idea or you hate it with a passion.


So... I graduated in 2004 from my undergrade, got plenty of work experience since then, but want to specialise in a different field, but gthe same subject area.

I am giving serious consideration to a Masters course, with a start in Sept 2012.

Do I need to take a loan like before to pay fees and my accommodation? or is this new system like a tab where I get charged from the government as soon as I earn £21,000 per annum, so I wouldn't need a loan from the Student Loans Company?

Basically casn someone who actually knows what they are taking about help me :p

I'm on a fixed-term contract at an employer atm and am saving all my money for whatever I decide to do when this finishes. I should be able to pay for the fees and accommodation out of my own pocket without the need for a loan at all, but if it's still a cheap rate would it be more sensible to bank my cash for a nice house deposit/ rainy day fund and still get a loan to pay off over my career?
 
Is this a one/two year post-graduate masters or a four-year undergraduate masters?

Also, did you have a loan first time around?
 
I'm not sure if you're eligible to take out another loan with the SLC.

Contact them and ask yourself.

If you're not, you'll need to look into Career Development Loans and/or funding through bursaries and scholarships, etc.
 
hhmm this student loans company seems to be geared towards 18 year old with parential support.

What about single blokes who support themselves whilst rapidly approaching 30? :)

Think I'm going to have to email them.
 
SLC don't fund postgraduate degrees. Rightly so.

For Masters funding, you have to look at university support or research council support. Attractive loans are also available.
 
There should be some funding you can apply for, either through the university or a research council, but if it is a taught course I think you will be very lucky to get anything. I did a 1 year research masters which was funded by my department but my sister has been looking for funding for a taught course and hasn't had any luck, she will need to apply for a commercial loan to cover fees (about 10K) and living costs, but i think these loans do give allowances (no repayments until after you have finished your course etc.)

Don't know if this is of any use


http://www.direct.gov.uk/en/Educati...Education/ChoicesAfterYouGraduate/DG_10012463
 
hhmm seems like I am going to have to use my own cash. I can save up £15,000 for next year if I don't do any socialising at all between now and then :p

Looks like I got to do a lot thinking about all this properly.
 
Masters taken as a postgraduate are not funded by SLC/SFE.

Some teaching/medical post graduates are funded but it does not sound like you are studying in that field.
 
Oxy said:
hhmm this student loans company seems to be geared towards 18 year old with parential support.

What about single blokes who support themselves whilst rapidly approaching 30? :)

Think I'm going to have to email them.
Click to expand...

You are not eligible for a student loan to do an MSc - you need to self fund it. Perhaps a career development loan from a bank or something?

You cant get a student loan though.
 
I work for the SLC/SFE and I can tell you that you won't get any funding for a postgrad from them, I'm afraid.
 
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