Financing an MSc in Speech Therapy

pollylop

I want to do a Master's in Speech Therapy but have no idea how I'm going to pay for it! I graduated last June and applied to start the course this September but didn't get in, so the earliest I could start would be September 09. The NHS will pay my fees and give me a bursary but apparently that's not enough to live on - finding it hard to work out exactly how much so if anyone has one and could give me an idea that'd be great! I can't get a graduate loan as you need to have a job, and I've been advised that the course is too intensive to get a part-time job at the same time. I've looked into Career Development Loans but apparently you're not eligible if you get an NHS bursary and anyway the maximum you can get is £8000, which isn't a lot to live on for 2 years! I'll save as much as I can, but I've got £3350 of debt to pay off before I can start, and I'm only bringing home about £800 a month.

Sorry for such a long post, any help would be very much appreciated!

Lokolo

pollylop wrote: »

I want to do a Master's in Speech Therapy but have no idea how I'm going to pay for it! I graduated last June and applied to start the course this September but didn't get in, so the earliest I could start would be September 09. The NHS will pay my fees and give me a bursary but apparently that's not enough to live on - finding it hard to work out exactly how much so if anyone has one and could give me an idea that'd be great! I can't get a graduate loan as you need to have a job, and I've been advised that the course is too intensive to get a part-time job at the same time. I've looked into Career Development Loans but apparently you're not eligible if you get an NHS bursary and anyway the maximum you can get is £8000, which isn't a lot to live on for 2 years! I'll save as much as I can, but I've got £3350 of debt to pay off before I can start, and I'm only bringing home about £800 a month.

Sorry for such a long post, any help would be very much appreciated!

If you can't start until 09, what are you going to do this year? And for the next? (maybe get a job and save save save?)

Oldernotwiser

You should be able to live off the NHS bursary (just) but you'll have difficulties if you're servicing this amount of debt. It's time to clear the debts for the next year or two and remember you'll pay no tax/NI/CT on the bursary and it doesn't have to last for the full 52 weeks.
Good luck.

deanlr55

It is highly likely that the UNI you will going to will have roles for Graduate Assistants or similar. With these you have specific experience relating to your course, have to work roughly 18 hours a week, get paid about 600 a month and looks very good on your CV. Have a look into now as you have the time. They would also have some sort of accomodation package

welf_man

Have you talked to the University's Graduate Office and/or Money Adviser to see what they advise? (They may be called something else, but virtually every university will have them).

Mel.

Oldernotwiser

deanlr55 wrote: »

It is highly likely that the UNI you will going to will have roles for Graduate Assistants or similar. With these you have specific experience relating to your course, have to work roughly 18 hours a week, get paid about 600 a month and looks very good on your CV. Have a look into now as you have the time. They would also have some sort of accomodation package

An MSC in Speech Therapy is a vocational course with built in work placements. It's totally different from doing an academic Master's degree. That's why the NHS funds it with a bursary.

deanlr55

Ok, im just doing a MSc but appreciate it's not all the same!

pollylop

Thanks for the replies. I have a job at the moment, my contract only lasts till June though and I'm not sure what's happening after that, will hopefully be working somewhere! I'm planning to get the debts paid off as soon as possible, hopefully by the end of the year, and save after that, was just worried that wouldn't be enough. It's good to know I should be able to live off the bursary though, the tutors I spoke to at the university didn't seem to think I would be able to. I'll get on to the money advisers, do they not mind you contacting them if you don't actually go to the uni yet?

welf_man

pollylop wrote:

I'll get on to the money advisers, do they not mind you contacting them if you don't actually go to the uni yet?

No, they'd far rather students arrived with proper funding in place than take up lots of their time later if problems arise!

Mel.