Funding for Postgrad course

huwthomas

Hi forums,

I'm currently in my third year of uni and I'm thinking about staying on for an extra year. However, the I've run into the nasty problem of funding.

the way I see it, from the research I've done, there are a few options

1. get a career development loan. this is about 8000, of which just over half would have to cover the course. leaving me 3500 to live on for a year. pretty difficult.
2. get a graduate loan. this is alot more money, but i'll have to start paying it back straight away. which i guess i could do if i put a bit aside and then payed it out of that.
3. not bother. get a job and return to normal society.

now, seeing as I'd actually reallly like to stick around another year, I'm leaning towards option 2, but I know it'll end up getting me into alot more debt.

I could (probably would have to) get a part time job at uni, to supplement whatever money i make during the holidays, which would help me pay for options one or two.

So I'm in a bit of a confusing situation and was wondering whether anyone had anyone had any advice or suggestions, anything welcome.

thanks alot

Voyager2002

The answer depends on the course you are doing now, and on what you would be doing during your extra year. Have you considered signing on for JSA?

huwthomas

I'm studying English at Exeter, thinking of doing a masters in either English or Creative Writing (not the most profitable courses, but the ones that I actually want to do).

I'm not on JSA because a) I've got a part time job when I'm at home and b) I've heard (though admittedly through word of mouth) that its taken out of my student loan, of which I've not received the final payment. I think I also read that you're not allowed jsa with a cdl, but I'm not sure.

Oldernotwiser

You can't sign on for JSA if you're a full time student.

HT, do you have any career plans for doing an MA or is it for love of the subject?

Idiophreak

I funded my MSc through a career development loan of around 8k (iirc) - admittedly, I was studying in swansea, so rent was cheap as chips and I did work the hols, but I bought a £1k+ computer out of that, a couple of big kites and drank a lot of beer - so I think it's easy to manage on that money (my sister did the same in southampton, too).

Other things to think about, though are:

What kind of course will you do?

Depending on the course, you have different options for funding:

Taught Masters - you can look at getting bursaries (which I had too, to be fair - cut fees from 3k to 1k),

Research based masters - obviously, not too easy in English, but many departments will provide funding for these courses.

PhDs (as above)

PGCE (teaching qualification) - can get a student loan through SLC and can also get a grant from the government (£6kish?)

Your best bet is to get down to the uni postgrad office and discuss your options - most unis will have "postgrad information days" or something at some point, too - get down to that and don't be afraid to ask plenty of questions.

Voyager2002

Exeter university is fairly generous with studentships, so if you are any good you should get funding from them. (Unless you are outstandingly talented, there is little point in doing an MA in the subjects you are considering.) Otherwise, if you are considering the Creative Writing option:
i. I suggest you seriously consider the University of East Anglia, where standards are a good deal higher than at Exeter;
ii. unless you are a mature student, you are likely to get more out of the course if you take some time out of education first.