Masters Degree Loan When Already Have a Masters Degree

Julia9CA
Julia9CA Posts: 15 Forumite
Seventh Anniversary 10 Posts
edited 26 July 2024 at 4:47PM in Student MoneySaving
Hello, I've searched the forum for this topic.  I know I cannot get a government postgraduate loan as I already have a master's degree. Has anyone had this situation and found a good solution?

I am thinking about obtaining another master's degree that is closely related to my first master's degree (first degree was in Library and Information.  Degree I am looking at is Archives and Record Management). 

I am currently working in a job using my first master's degree, but realise that it would greatly aid my future job progression if I obtain the second degree in the related field.  The job at my current employer I wanted to apply for I could not, as it required the second degree.  My employer is unable to fund my education, and my current wage (in libraries) is not enough to pay for the second master's degree outright.

Has anyone been in this situation of already having a master's degree and found a solution?  Any help would be greatly appreciated.

Comments

  • powerspowers
    powerspowers Posts: 1,287 Forumite
    1,000 Posts Fourth Anniversary Name Dropper
    If they are closely related are there any single modules that you can do to help in your chosen career field rather than completing another Masters?  
    I work in local authority, first masters was in social policy. Applied for a job in public health which required a masters in public health, I applied anyway and got the job. I’ve just completed a pgCert in public health after applying for funding, but that wasn’t a condition of getting the job. 
    MFW 2021 #76 £5,145
    MFW 2022 #27 £5,300 
    MFW 2023 #27 £2,000
    MFW 2024 #27 £6,055
    MFW 2025 #27 £1050/£5000


  • Emmia
    Emmia Posts: 5,038 Forumite
    Fifth Anniversary 1,000 Posts Photogenic Name Dropper
    edited 26 July 2024 at 6:24PM
    Would the OU have something that you could pay for on a module by module basis? Or does the Uni you want to study at have a interest free monthly payment option? I studied at one that did at masters level.

    The OU (if they do something suitable) may let you credit transfer, so you'd do fewer modules (and pay less) for your further masters.
  • Jemma01
    Jemma01 Posts: 384 Forumite
    Fourth Anniversary 100 Posts Name Dropper
    This is odd. Since when was progressing in your career required more degrees (and yet more masters degrees)? People learn on the job, and they should be given a training opportunity. It's awful your employer thinks like this.

    I hope you'd be able to challenge this and request training on the job. You're already in a very niche field, it's not like you're moving from teaching history to performing surgeries.

    Sorry I couldn't answer your question, your employer sounds awful.
    Note:
    I'm FTB, not an expert, all my comments are from personal experience and not a professional advice.
    Mortgage debt start date = 25/10/2024 = 175k (5.44% interest rate, 20 year term)
    Q4/2024 = 139.3k (5.19% interest rate)
    Q1/2025 = 125.3k (interest rate dropped from 5.19% - 4.69%)
    Q2/2025 = 119.9K
  • Emmia
    Emmia Posts: 5,038 Forumite
    Fifth Anniversary 1,000 Posts Photogenic Name Dropper
    Jemma01 said:
    This is odd. Since when was progressing in your career required more degrees (and yet more masters degrees)? People learn on the job, and they should be given a training opportunity. It's awful your employer thinks like this.

    I hope you'd be able to challenge this and request training on the job. You're already in a very niche field, it's not like you're moving from teaching history to performing surgeries.

    Sorry I couldn't answer your question, your employer sounds awful.
    Some jobs require certain/specific qualifications often for regulatory purposes (would you knowingly use a doctor, accountant or lawyer who wasn't qualified?). If the OP needs a specific qualification to progress, then that's the deal. They need it.
  • Jemma01
    Jemma01 Posts: 384 Forumite
    Fourth Anniversary 100 Posts Name Dropper
    Emmia said:
    Jemma01 said:
    This is odd. Since when was progressing in your career required more degrees (and yet more masters degrees)? People learn on the job, and they should be given a training opportunity. It's awful your employer thinks like this.

    I hope you'd be able to challenge this and request training on the job. You're already in a very niche field, it's not like you're moving from teaching history to performing surgeries.

    Sorry I couldn't answer your question, your employer sounds awful.
    Some jobs require certain/specific qualifications often for regulatory purposes (would you knowingly use a doctor, accountant or lawyer who wasn't qualified?). If the OP needs a specific qualification to progress, then that's the deal. They need it.

    Did you even read what I wrote? Where did i say a degree wasn't needed? I said "more degrees" and that she's already in the field with a degree and not switching careers.
    Note:
    I'm FTB, not an expert, all my comments are from personal experience and not a professional advice.
    Mortgage debt start date = 25/10/2024 = 175k (5.44% interest rate, 20 year term)
    Q4/2024 = 139.3k (5.19% interest rate)
    Q1/2025 = 125.3k (interest rate dropped from 5.19% - 4.69%)
    Q2/2025 = 119.9K
  • Emmia
    Emmia Posts: 5,038 Forumite
    Fifth Anniversary 1,000 Posts Photogenic Name Dropper
    edited 26 July 2024 at 10:10PM
    Jemma01 said:
    Emmia said:
    Jemma01 said:
    This is odd. Since when was progressing in your career required more degrees (and yet more masters degrees)? People learn on the job, and they should be given a training opportunity. It's awful your employer thinks like this.

    I hope you'd be able to challenge this and request training on the job. You're already in a very niche field, it's not like you're moving from teaching history to performing surgeries.

    Sorry I couldn't answer your question, your employer sounds awful.
    Some jobs require certain/specific qualifications often for regulatory purposes (would you knowingly use a doctor, accountant or lawyer who wasn't qualified?). If the OP needs a specific qualification to progress, then that's the deal. They need it.

    Did you even read what I wrote? Where did i say a degree wasn't needed? I said "more degrees" and that she's already in the field with a degree and not switching careers.
    But the OP clearly needs a further qualification for their chosen next step. Saying "it's not necessary" or "shouldn't be needed" isn't helpful. It's irrelevant.

    The bit of the OPs post you clearly overlooked 

    "but realise that it would greatly aid my future job progression if I obtain the second degree in the related field"

    Sometimes a further qualification will get you where you want to be, and often there are no shortcuts.
  • Julia9CA
    Julia9CA Posts: 15 Forumite
    Seventh Anniversary 10 Posts
    Emmia said:
    Jemma01 said:
    This is odd. Since when was progressing in your career required more degrees (and yet more masters degrees)? People learn on the job, and they should be given a training opportunity. It's awful your employer thinks like this.

    I hope you'd be able to challenge this and request training on the job. You're already in a very niche field, it's not like you're moving from teaching history to performing surgeries.

    Sorry I couldn't answer your question, your employer sounds awful.
    Some jobs require certain/specific qualifications often for regulatory purposes (would you knowingly use a doctor, accountant or lawyer who wasn't qualified?). If the OP needs a specific qualification to progress, then that's the deal. They need it.
    Yes, this is correct.  The archive service has accreditation, and in order to maintain this accreditation, they need their specialised staff to have an archives degree.  
  • Julia9CA
    Julia9CA Posts: 15 Forumite
    Seventh Anniversary 10 Posts
    Jemma01 said:
    This is odd. Since when was progressing in your career required more degrees (and yet more masters degrees)? People learn on the job, and they should be given a training opportunity. It's awful your employer thinks like this.

    I hope you'd be able to challenge this and request training on the job. You're already in a very niche field, it's not like you're moving from teaching history to performing surgeries.

    Sorry I couldn't answer your question, your employer sounds awful.
    Yes, I agree, it is a very odd situation.  My employer needs it for their specialised job positions to maintain their accreditation.  I was hoping to get sponsorship by my employer to achieve the second degree whilst I worked for them, but libraries seem to be currently in bad financial predicaments.
  • silvercar
    silvercar Posts: 49,125 Ambassador
    Part of the Furniture 10,000 Posts Academoney Grad Name Dropper
    Would you be entitled to funding if you went for a PHD in the subject? You could then opt to stop along the way and gain a masters potentially? (just guessing here, if courses exist).
    I'm a Forum Ambassador on the housing, mortgages, student & coronavirus Boards, money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.
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