How to Fund Your Further Study
It is often much easier to obtain the offer of a place to undertake a postgraduate course than it is to get the money to finance it. Details of fees for a particular course will usually be found in the postgraduate prospectus from an institution.
There may be decisions you want to make - for example, whether to study full or part-time where you will need to weigh up considerations over issues such as Council Tax liability, that may vary according to your status. In such cases you should check with on our Money Matters pages for the most up-to-date information.
With the exception of teacher training there are no mandatory awards from the Local Education Authorities (LEAs). The Student Loans Company doesn't cater for postgraduates and so many students are entirely self-funded. The majority of postgraduate students get money from a range of sources, for example, money from bursaries, part-time jobs, charitable trusts, private savings and loans.
Sources of information on funding
UK Government Postgraduate Loans Scheme: Loans available for taught and research masters. Loan scheme starts 2016/17
Find a Masters Funding Guides: Website packed with information regarding funding in different countries including UK
- FindAMasters.com offer an annual £5,000 Masters scholarship plus a number of smaller awards in any subject.
- FindAPhD.com offer an annual £5,000 PhD scholarship plus a number of smaller awards in any subject.
The Graduate Prospects Website provides a useful summary of all the main sources of potential funding for further study and allows you to search for sources of funding. Graduate Prospects now also produce a vidcast with key advice for students on funding postgraduate study.
The Grants Register, published by Palgrave. A copy is usually available for reference in most public libraries and there is a copy in the University of Salford Library.
Scholarship Search UK - This searchable database lets you search for university departments that are currently offering scholarships, bursaries and awards.
Turn2us is another free online searchable facility of funding sources.
Prospects Postgraduate Study Guide: includes information on funding FREE copies available in the Careers library.
PostgraduateStudentships provides students with listings of the latest general and charity funding available for Masters and PhD Study:
Public Funding: Research Councils
The most important sources of funding for postgraduate students in the UK are the Research Councils. These bodies are government-funded agencies engaged in the support of research in different disciplines. The Research Councils do not generally make studentship awards directly to students, but usually allocate them to departments in universities.
Arts and Humanities Research Council (AHRC) - The Arts and Humanities Research Council supports research ranging from traditional humanities subjects, such as history, modern languages and English literature, to the creative and performing arts
Biotechnology and Biological Sciences Research Council (BBSRC) - Covers academic research and training in the non-medical life sciences
Economic and Social Research Council (ESRC) - Economic and Social Research Council (ESRC) is the UK's leading research funding and training agency addressing economic and social concerns
Engineering and Physical Sciences Research Council (EPSRC) - The funding agency for research and training in engineering and the physical sciences
Medical Research Council (MRC) - Promotes research into all areas of medical and related science with the aims of improving the health and quality of life of the UK public and contributing to the wealth of the nation
Natural Environment Research Council (NERC) - Covers research in earth observation, earth sciences, freshwater sciences, marine, atmospheric and terrestrial sciences
Science and Technology Facilities Council (STFC) - Covers particle physics, astronomy, particle astrophysics, solar and planetary science.
Institutional Scholarships and Awards
Most universities operate their own scholarship and award schemes. These vary considerably from full-fee studentships to smaller bursaries to help financial hardship:
Sometimes departments offer Graduate Teaching and Research Assistantships where fees are paid in return for undertaking teaching or research duties. Such opportunities are often advertised in newspapers such as The Guardian (on a Tuesday) and The Times Higher Education Supplement.
Sometimes companies sponsor postgraduate students through the institution. Such opportunities are often advertised in newspapers such as The Guardian (on a Tuesday) and The Times Higher Education Supplement but they may also be run on an ongoing basis with a particular institution. Sometimes departments offer Graduate Teaching and Research Assistantships where fees are paid in return for undertaking teaching or research duties. The University of Salford advertises vacancies for Graduate Teaching Assistantships. Information about bursaries at Salford generally can be found on our Money Matters pages.
MastersCompare - Masters Scholarship worth £5,000 for the academic year 2017/18. The scholarship is open to UK, EU and international students. More information can be found at: www.masterscompare.co.uk/PGscholarship
Charities, Foundations and Trusts
Some trusts, charities and foundations award partial funding for postgraduate study. The types of scheme available include studentships, scholarships, grants, bursaries, competitions and prizes.
The Alternative Guide to Postgraduate Funding
The Alternative Guide to Postgraduate Funding Online is all about alternative sources of funding - especially charities - which can make awards (fees, maintenance, research costs) to any student regardless of subject or nationality.
A reference copy of the Alternative Guide to Postgraduate Funding in our Careers library.
Professional and Career Development Loan (PCDL)
We are a Professional and Career Development Loans registered Learning Provider, registration number . A Professional and Career Development Loan is a commercial bank loan that you can use to help pay for work-related learning. For further information on financial assistance to support your learning, please visit the GOV.UK website or contact the National Careers Service on 0800 100 900.
Many postgraduates study part-time, which means that they have the opportunity to hold down a part-time or even a full-time job at the same time. Our Careers & Employability vacancy service promotes work opportunities to students & graduates in the form of part-time work, weekend work and vacation work. You can check vacancies offered by the Jobshop in the online by registering to receive information on vacancies by email via our website.
Professional Loan Schemes
If you’re training for a professional qualification in, for example, law, dentistry or medicine, most banks offer some sort of professional studies loan scheme.
For example, NatWest offers the Professional Trainee Loan Scheme, Barclays currently offers a Professional Studies Loan and the Royal Bank of Scotland also run loan schemes specifically for law students and students studying medicine, dentistry, veterinary, chiropractic and osteopathy on a full-time basis.
There are also a variety of other loans for specific courses:
Association of MBAs Loan Scheme -Students on MBA (Masters in Business Administration) programmes accredited by The Association of MBAs (AMBA) are eligible for The Association of MBAs Loan Scheme, which is designed to help students paying their own fees or part-fees
The College of Law Loan Scheme - This loan is available to students who are studying at one of the College of Law’s colleges (London, Chester, Manchester, Guildford or York) for one of the following qualifications: Common Professional Examination (CPE), Legal Practice Course (LPC) or Bar Vocational Course (BVC). Application for a loan can be made from the beginning of your course, whether you are studying full-time or part-time. NatWest offers this scheme. Ask at your bank for information on any similar schemes
Teacher Training - For information on funding for Teacher Training, look at the Training and Development Agency for Schools website
Page Updated: 13th March 2017(HB)