Masters Degree - Living Allowance?

Jlawson118

Is there a living allowance upon working towards a Masters Degree?

Currently in my third year and I've been under the impression that I'll be working when I've finished, remaining in the job I'm currently working part time in as at least it's something, and the opportunities to climb the ladder are there and being offered to me left, right and centre. So I wasn't very interested in doing a Masters Degree as I do enjoy working. But I was looking at a course last year, and university emailed me yesterday with a list of 'Guaranteed to be accepted courses' and this particular course was there. Which is a Business & Management Course that when thinking about it further, would probably help me progress even more in my current job.

For my current degree, I don't get very much of a living allowance from Student Finance (hence why I'm working alongside) but the little bits I do get certainly help. And I'm wondering if it is the same for Postgraduate schemes? I know the way we pay tuition fees is different, but I have next to no knowledge whatsoever on how financing works.

Starrystarrynight1

If you're resident in England, have a read of the info on this link:

https://www.gov.uk/funding-for-postgraduate-study

Jlawson118

Starrystarrynight1 wrote: »

If you're resident in England, have a read of the info on this link:

https://www.gov.uk/funding-for-postgraduate-study

I stumbled across this page before posting the thread but it didn't quite give me the information I needed.

ceb1995

Jlawson118 wrote: »

I stumbled across this page before posting the thread but it didn't quite give me the information I needed.

you'll only get the postgraduate loan, there's no separate funding for living costs.

JayRitchie

Why not work full time for a couple of years and see if the masters would be helpful? With some experience and a better idea of career paths you may chose a different course. I don't think business masters degrees are hugely valuable without some real world experience.

Jlawson118

JayRitchie wrote: »

Why not work full time for a couple of years and see if the masters would be helpful? With some experience and a better idea of career paths you may chose a different course. I don't think business masters degrees are hugely valuable without some real world experience.

This was an idea I've had as I would rather work and earn myself some money. But one thing I fear is kind of getting out of the habit of education and forgetting completely how it all works.

In terms of living finances, I'm not too worried. I do earn a wage quite significantly above the minimum. But I was just curious as the little bit of student finance I get now is quite helpful to keep in my savings for large expenditures such as car insurance

But I'm going to do my research about it all, because a year out might do me some good, but at the same time I would like to get education out of the way asap

WibblyGirly

You'll only get the post grad loan which is just over £10k. It's also paid in 3 instalments, not all upfront. So I get just over £3k each time and pay £2k out in fees as I pay for my Masters by instalments too.

If your Masters doesn't lead on to a certain career or your not 100% sure then I'd work for at least a year. I was very sure about mine as I need it to get the job I want but its not easy. It's more work than undergrad was. I had a part time job throughout undergrad but I chose to save hard over summer and not work whilst doing my Masters.

If your wanting to do something more general like the business Masters, could you look for graduate schemes instead? Or employers who may pay for the Masters for you?

Jlawson118

WibblyGirly wrote: »

You'll only get the post grad loan which is just over £10k. It's also paid in 3 instalments, not all upfront. So I get just over £3k each time and pay £2k out in fees as I pay for my Masters by instalments too.

If your Masters doesn't lead on to a certain career or your not 100% sure then I'd work for at least a year. I was very sure about mine as I need it to get the job I want but its not easy. It's more work than undergrad was. I had a part time job throughout undergrad but I chose to save hard over summer and not work whilst doing my Masters.

If your wanting to do something more general like the business Masters, could you look for graduate schemes instead? Or employers who may pay for the Masters for you?

My current employers do offer a graduate scheme which I was looking to get onto but they want me to gain some more confidence in talking to people first before getting onto it, which I feel is fair of them, and therefore they're in the process of still promoting me, but to one of the lower level supervisors who trains up current staff when new things are introduced, as well as training new starters up. And this is quite a big, well known company so for them to have the confidence in me to offer me this sort of role then it does make me feel quite confident in myself to move up the ladder.

But I was enquiring about it last week when I was debating this masters, and it is still going to be part time. And I'm thinking that I'm only going to end up with a degree in Media Production which isn't really 'Business Management' and I feel like a masters in it would benefit me and come next year I could perhaps go anywhere, not even stay where I am. I'll see where time takes me, and still have a good think about things

MoneysavingmadGem

Im looking to go back and study for a masters from sept.

Funding wise all I can find is masters loan £10k and been told to look a career development loans again up to £10k but have to start to pay back after first month finishing course.