It is no secret that university and studying are not cheap options! This is especially true for postgraduate students, who may well have put their career on hold for one or two years in order to study further. Alas, there is no need to panic just yet or to rip up that postgraduate application! There are a number of ways in which you can get financial assistance to make it all possible: there are studentships, bursaries, grants, loans and even sponsorship from your employer.
Studentships
A studentship is a position at an institution that has funding attached to it to help you with fees, living costs or sometimes both. This could be for a whole range of postgraduate courses, including both Masters and PhDs. There is a lot of information available out there on vacancies at different universities for studentships so keep an eye for one that suits where you want your postgraduate study to go.
Charities and Trusts
It is worth approaching charities and trusts as many of them provide grants for students, usually from lower socioeconomic backgrounds who have excelled academically.
Specific Course Bursaries and Scholarships
Another option for some postgraduate courses are bursaries and scholarships. For example, if you are considering teacher training, social work or some medical and healthcare courses there are bursaries available to help you. In addition, if you are applying as a graduate to study Medicine, Student Finance offer some support with your tuition fees.
Employer Sponsorship
It may be that your employer offers some financial assistance towards course costs for postgraduate study, if it relevant to your job. It is always worth discussing this option with your employers who may be keen to help if they can clearly see how the course will help you to develop in their workplace.
Part-time Employment
Many postgraduate students continue to work whilst studying. The demands of postgraduate courses vary considerably so make you thoroughly research your course before applying to check whether this will be a viable option for you.
Beyond these options there are some more unusual and innovative ways to gain funding for your postgraduate study. One student who went on to study a Masters in Drama decided to write letters to politicians, actors and comedians asking for their financial backing. Maybe a bit of an audacious move but it was one that paid off (literally!) and she eventually raised £16,000 to cover her course costs. Maybe you could come up with an equally inventive yet effective way to raise funds for your study! And don’t forget, funding applications normally have to be submitted in the spring before the Autumn in which you start so begin your research early to increase your chances of being successful!
