New focus on postgraduate funding options

Postgraduate funding has always been limited compared to the support available to undergraduate students. For many, the desire to continue their education beyond undergraduate level is put on hold due to the financial implications. However, that may all be about to change...

Changes to postgraduate funding could see an increase in applications.

 

Have you heard of the National Scholarship Programme? It was introduced in 2011 by the government to financially support undergraduate students with the dramatic rise in tuition fees. However, it has been decided that this funding will be redirected to ‘disadvantaged’ postgraduate students who do not have the same access to financial support that undergraduate students do. 

This recent development in educational funding has been deemed somewhat controversial. Who is classed as a ‘disadvantaged’ postgraduate student? What affect will this have on current undergraduate students? It has been suggested that those who received a maintenance grant as an undergraduate student (parental income is less than £25,000) can receive a form of extra financial support as a postgraduate student. However, this has raised the issue of the likelihood of a postgraduate student’s financial status being significantly different to how it was at the age of 18. 

Another suggestion is to stop the maintenance loan support to undergraduate students who are from higher income families and redirect the money to the disadvantaged postgraduates. Again, this has raised a cause for concern. How do you measure a ‘high income’ family? Who is to say that those families can cover the costs incurred by the lack of government funding? 

This is a very complex issue, with so many plus and minuses that it will take a long time for a concrete decision to be made. However, this extra support could provide a little encouragement to those considering a postgraduate career. Many employers seek potential candidates with postgraduate qualifications, favouring qualities that these bring, including; further, specified knowledge of their chosen field, research skills and dedication to their career. 

Hopefully, the benefits of studying at postgraduate level outweigh the negatives attached to the financial implications. Taking your studies to the next level could cause an increase in your earnings as well as allowing you to progress in your career faster than those without a postgraduate degree. As a postgraduate, you are likely to leave the world of education with an impressive collection of skills, including; communication, critical thinking, data analysis, organisation, problem solving, project management, research and time management. With those on your CV, your chances to successfully progress in your chosen field could well be increased. 

If for you, the benefits trump the negatives, you’ll be glad to know that here at LSBU we have a programme in place to give our postgraduate students the support they need. The Graduate Loyalty Scheme enables students to receive up to 25% off their fees, with no selection process applications must just simply state that you intend to progress onto full or part-time postgraduate study after finishing your undergraduate course since 2007. The scheme is open to all Home, EU and International students, regardless of whether you are self-funding or receiving support from an employer. If you are thinking about postgraduate study, why not take a look at what courses are on offer and read more about financing your studies. 

To request further information or have your questions answered, get in touch today.