Best way to finance a second degree

sam189

Due to finish a BSc hons this summer, our son has gained a place on a 5 year medical degree course. I don't believe that he is eligible for student loans this time round and our joint income will probably preclude grants and bursaries. What will be the best way to fund this second degree? Any thoughts?

MrsManda

sam189 wrote: »

Due to finish a BSc hons this summer, our son has gained a place on a 5 year medical degree course. I don't believe that he is eligible for student loans this time round and our joint income will probably preclude grants and bursaries. What will be the best way to fund this second degree? Any thoughts?

Is the course a graduate entry or another UG degree?
He should have got details of how much it'll cost and what funding is available from his university so it's probably a good idea for him to contact his careers/support departments at his current university and his new one.
Also may be worth looking at Funding for Medical Students for options

southoftheriver

It will be an undergraduate degree if it is a 5 year one.

Many medical students work to supplement their incomes, especially on the five year course. Is that an option for your son? There are also some charitable grants for mature students doing medicine, hard to find and either harder to get but nothing ventured!

Taiko

He can still get the maintenance loan for the duration of the course, it's the fees he'll need to fund himself.

student_advisor

Funding options from the NHS careers website:

"2) Funding for graduate students on standard five-year courses
Graduates gaining admission to the standard five-year courses will be eligible to apply for student loans for their maintenance. If they have previously taken a publicly funded higher education course lasting two years or more, they will not be entitled to receive funding from their local authorities for tuition fees and universities may charge them the full cost of their tuition. (Fees payable to medical schools by graduate students vary widely and details are available from the schools themselves). From year five onwards, tuition fees will be paid by the Department of Health and they will be eligible to apply for a means-tested NHS bursary, and reduced maintenance loan from the Student Loans Company (equivalent to approximately half the full rate).

3) Funding for graduate students on accelerated courses
Graduates on accelerated (four year) courses are eligible to apply for means-tested NHS bursaries from the Department of Health in the second, third and fourth years of the course. Tuition fees are also paid during that period of the course. In their first year, graduate students on accelerated courses will be eligible to apply for student loans from the Student Loans Company for their maintenance."

The bit in bold means that universities can charge whatever they like for the first 4 years (up to £10k per year).

A place on the accelerated degree seems like a much better idea!

southoftheriver

They're also much more competitive to get onto in the first place due to the extra funding they attract!

MrsManda

southoftheriver wrote: »

They're also much more competitive to get onto in the first place due to the extra funding they attract!

Plus there are a lot fewer places - I know a lot of people who've applied for grad-med and despite having a 1st in a relevant subject from a good university (not being snobby or at least not trying to be but sometimes it makes a difference whether your degree is from a long established uni or a newer one, especially in science), with good references, passing the additional admissions tests & spending every holiday during their degree doing work experience in hospitals, very few of them have managed to get a place.