The Bench Report

UK Master's Funding Explained

• The Bench Report UK • Season 2 • Episode 6

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Hey there, future master's student!

Thinking about postgraduate studies in the UK but worried about the cost? You're not alone! Navigating the world of funding can seem daunting, but there are actually many potential avenues to explore. We want to give you a clear picture of the possibilities.

Today on The Bench Report, Amy and Ivan break down the key ways you might be able to pay for your postgraduate studies in the UK. From government support to university funding and beyond, we'll give you the essential information to start planning.

We break down the main avenues for funding, starting with government support. Discover specific funding for pre-registration healthcare courses like nursing and midwifery, which often differs from other master's degrees. Find out about the Disabled Students’ Allowance (DSA), which helps cover extra costs due to disability. For international students, we touch on national scholarship schemes like Chevening, Commonwealth, and GREAT Scholarships.

Next, we look at university support, including academic scholarships for excellent students, widening participation scholarships for under-represented groups, and alumni discounts for returning graduates. We also examine research council funding available for research-focused master's degrees that may lead to a PhD. Don't overlook educational charities and trusts that offer smaller grants, which can be combined. Finally, we consider employer support and degree apprenticeships as potential funding routes.

We hope this episode has provided you with a solid starting point to explore the many ways you might be able to finance your postgraduate studies in the UK!

Source: Finding funding for a master’s degree
Constituency casework - 29 January, 2025

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Contains Parliamentary information repurposed under the Open Parliament Licence v3.0.

Ivan:

Hello and welcome to The Bench Report. You're with Amy and Ivan.

Amy:

Hello.

Ivan:

So let's look at how you might pay for your postgraduate studies here in the UK. We want to give everyone a clear idea of what's possible.

Amy:

Absolutely. And government support is probably the key place to start for most UK students.

Ivan:

Okay. What form does that take mainly?

Amy:

The main thing is postgraduate loans. But, you know, it's crucial to remember that funding rules for education are different depending on where you live in the UK.

Ivan:

Ah, devolved funding. So let's break that down. For England, what are we looking at for, say, 2024-25? For the

Amy:

2024-25 academic year, Student Finance England offers up to $12,471 plus. And

Ivan:

that's a single loan. For everything?

Amy:

Yes. That amount is intended to help with both your tuition fees and your living costs.

Ivan:

What about Scotland, then?

Amy:

Scotland has its own system. The Student Awards Agency Scotland, say Shaw, can provide up to £7,000 specifically for your fees.

Ivan:

Just for fees?

Amy:

For fees, yes. And then you can also apply for a separate loan of up to £6,900 to help with living costs.

Ivan:

Hmm. Okay. Two parts there, Northern Ireland.

Amy:

Student Finance Northern Ireland offers up to £6,500, but that one is specifically targeted towards tuition fees.

Ivan:

So no living cost loan from them directly?

Amy:

Not in the same way as the tuition fee loan, no. It's primarily fee support.

Ivan:

And Wales? You mentioned things differ.

Amy:

Yes. Student Finance Wales provides, well, quite a bit more actually, up to 18,950 pounds.

Ivan:

Wow, that's a significant difference.

Amy:

It is. And that covers both tuition fees and living costs, similar to the English model but with a higher maximum amount. It does make Wales seem quite attractive from a funding perspective.

Ivan:

And how do students get this money, the living costs part specifically?

Amy:

These loans for living costs go directly to you into your bank account.

Ivan:

Not to the university.

Amy:

No, not the living cost part. You usually receive it in three installments spread across the academic year.

Ivan:

And repayments. When do you have to start paying it back?

Amy:

That's the important bit. You only start repayments once your salary reaches a certain level. There's a threshold.

Ivan:

So it's income contingent.

Amy:

Exactly. If you're not earning above that threshold, you don't repay.

Ivan:

What about specific courses? I'm thinking health care. Like nursing or midwifery. Is that funding the same?

Amy:

Good question. Often it works differently for healthcare master's degrees.

Ivan:

How so?

Amy:

You really need to check the specifics with your chosen university and the relevant student finance body. In England, for example, you might find that undergraduate-style support applies loans and grants.

Ivan:

Like the NHS bursary system?

Amy:

Potentially things like the NHS Learning Support Fund. That can include things like a £5,000 training grant, which is non-repayable. But again, check the specific course and nation.

Ivan:

OK. And what if a student has a disability? Or maybe a long-term health condition or a learning difficulty like dyslexia. Is there extra help?

Amy:

Yes, absolutely. There's the Disabled Students Allowance or DSA.

Ivan:

Elyse, what can that cover?

Amy:

It's designed to help with extra costs you might face because of your condition. So things like specialist software, maybe a non-medical helper like a note taker, specific study materials, or even travel costs if they're related to your disability.

Ivan:

That sounds really helpful. How much is it?

Amy:

The amount you get isn't fixed. It depends entirely on your individual needs and, again, which part of the UK you're applying from.

Ivan:

And how do you apply for DSA?

Amy:

You apply through your student finance body, the same one you'd use for loans. You'll likely need to provide some evidence of your disability or learning difference.

Ivan:

And maybe an assessment.

Amy:

Yes. Often there's a needs assessment to work out exactly what support would be most beneficial for your studies.

Ivan:

Okay. That covers UK students. But what about students coming from outside the UK, international students?

Amy:

Well, the standard UK government student finance we've been discussing generally isn't available for international students.

Ivan:

So no government loans for them.

Amy:

Not the standard ones, no. However, there are specific national scholarship schemes they might be eligible for.

Ivan:

Such as?

Amy:

Shivening scholarships are a major one. They're funded by the UK government's Foreign, Commonwealth, and Development Office.

Ivan:

What do shivening scholarships cover?

Amy:

They're quite comprehensive. They usually cover tuition fees, living costs, travel to and from the UK, pretty much everything for a one-year master's course. Highly competitive, though. I

Ivan:

can imagine. Any others?

Amy:

Yes. Commonwealth Scholarship Commission offers various awards for citizens of Commonwealth countries. These include master's scholarships, some distance learning options, and shared scholarships, partly funded by universities.

Ivan:

And I think I saw great scholarships mentioned.

Amy:

That's right. Great scholarships are another option, specifically offering 10,000 pounds towards tuition fees. But these are targeted at students from certain countries. I think it's 18 specific countries currently.

Ivan:

Okay, so international students need to look into those specific schemes. Now, beyond government funding, what about the universities themselves? Do they offer financial help?

Amy:

Oh, definitely. Universities are another significant source of funding. They often have their own scholarships and bursaries. Well, many offer academic scholarships for students with really strong grades or potential. These might be university-wide or sometimes they're specific to a certain department or faculty.

Ivan:

And what do they base those decisions on? Just grades?

Amy:

Primarily your academic record, yes. But they'll also look at your reasons for wanting to study that particular course, maybe your personal statement. For some research-focused masters, you might even need to submit a research proposal as part of the application.

Ivan:

I've also heard about support aimed at widening participation. What's that about?

Amy:

Yes. Those are scholarships and bursaries designed to help students from backgrounds that are typically underrepresented in higher education.

Ivan:

So students perhaps from lower-income families or maybe the first in their family to go to university.

Amy:

Exactly. care leavers, mature students, students with disabilities, sometimes specific ethnic groups. There are also organizations like the Star Network and Displaced Student Opportunities UK, which list specific funding for refugees and asylum seekers.

Ivan:

You mentioned scholarships and bursaries there. Is there a difference?

Amy:

Generally, yes. Scholarships tend to be more competitive and are often awarded based on merit, academic or otherwise. Bursaries are often awarded based on meeting specific eligibility criteria like financial need or belonging to a certain group, they might be available to anyone who fits the bill rather than just the top few applicants.

Ivan:

That's a useful distinction. So bursaries might be worth exploring even if you don't think you'll get a top academic scholarship.

Amy:

Precisely. Always check the criteria.

Ivan:

What if you did your undergraduate degree at a particular university and want to stay on or come back for a master's?

Amy:

Ah, the alumni discount. Many universities offer this.

Ivan:

How does that work?

Amy:

It's usually a percentage off your tuition fees. maybe 10% or 20%, or sometimes a fixed amount. Some universities might tie it to the grade you got in your undergraduate degree, but often it's available to most returning alumni.

Ivan:

Worth checking with your old uni then. Where's the best place to find all this university funding info?

Amy:

The university websites themselves are the primary source, usually in a funding or scholarships section. But there are also dedicated postgraduate funding websites like Find a Master's, Scholarship Hub, and Postgraduate Search that compile listings.

Ivan:

Okay, so government loans, university funds.

Amy:

Yeah.

Ivan:

What else is out there? You mentioned research briefly.

Amy:

Yes, there's funding distributed via UK Research and Innovation, or UCARI. It's the umbrella body for the seven UK research councils. Think science, arts, humanities, social sciences. They cover all areas.

Ivan:

And they fund master's degrees. I thought they mainly funded PhDs.

Amy:

Their main focus is PhDs, that's true. But some funding is available for master's degrees, particularly those that are strongly linked to doctoral research.

Ivan:

So, like a research master's? The master's MRs or maybe the master's year of an integrated PhD program.

Amy:

Exactly. Those kinds of things. A standalone MRs or maybe a one plus three program where the first year is a master's leading into a three year PhD.

Ivan:

How do you find those opportunities?

Amy:

They're usually advertised by the universities themselves, often as part of specific funded projects or doctoral training partnerships. They're typically awarded based on academic merit and crucially, the strength of your research potential, often judged via a research proposal.

Ivan:

And what does that funding cover?

Amy:

It can be quite comprehensive, often covering full tuition fees and providing a stipend for living costs, similar to Ph.D. funding.

Ivan:

Are there any other perhaps smaller Sources of funding?

Amy:

Yes. Don't overlook educational charities and trusts.

Ivan:

What do they offer?

Amy:

They sometimes provide smaller grants to postgraduate students. Eligibility can vary widely. Some look for academic excellence. Others support students from specific geographical areas or those studying particular subjects, or perhaps students facing financial hardship.

Ivan:

So not huge amounts maybe, but still helpful.

Amy:

Exactly. You probably wouldn't fund your whole degree this way, but you can often combine several smaller awards. Every little helps, as they say.

Ivan:

How do you find these charities and trusts? They sound a bit hidden.

Amy:

You usually apply directly to the organizations. Finding them can take a bit of digging. There are guidebooks, often available in libraries, like the Guide to Educational Grants, the Grants Register, or the Directory of Grant-Making Trusts.

Ivan:

Any online resources?

Amy:

Yes, online database Like turn to use and funds online can be useful to some universities like LSE and St. George's Medical School also compile lists on their websites, which can be helpful starting points, even if you're not studying there.

Ivan:

One last area then, what about getting your employer involved?

Amy:

That's definitely something to consider, especially if the master's degree is relevant to your current job or career path.

Ivan:

You mean asking your employer for sponsorship?

Amy:

Yes, either full or partial financial support. It's worth having a conversation about it. Websites like Prospects, and I think the University of Essex has a guide too, offer advice on how to build a case and approach your employer, focusing on the benefits for them as well as you.

Ivan:

And related to employment, what about apprenticeships? Are there master's level ones?

Amy:

Yes, there are. Degree apprenticeships now exist at level seven, which is master's level.

Ivan:

How does that work?

Amy:

You'd be employed full-time earning a salary, but a portion of your time, at least 20%, is dedicated to off-the-job study towards the master's qualification.

Ivan:

And the funding?

Amy:

The key benefit is that your employer and the government cover the tuition fees. So you get the qualification, the work experience, and earn a salary without paying the fees yourself.

Ivan:

Where can people find those?

Amy:

In England, you search via the government's Find an Apprenticeship service. In Wales, Careers Wales is the place to look. Scotland calls them graduate apprenticeships. And Northern Ireland offers higher level apprenticeships, which can include master's level qualifications.

Ivan:

So it seems there are actually quite a few different avenues to explore when you're thinking about funding a master's degree.

Amy:

There really are. From government loans and grants, through university scholarships and bursaries, research council funding, charities, employer support, and even apprenticeships.

Ivan:

We hope this has given you a clearer starting point for your research into financing your studies.

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