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Finding funding for an MSc

10 replies

SlugsyMalone · 15/08/2018 16:57

Hi, hoping for some finance advice, I’m looking at an online distance masters starting next sept and spread over 3 years, it costs around £14.5K. Approx £10 000 I can cover with a student loan, any suggestions of ways i can cover the rest? The co-op bank are stopping their scheme in January unfortunately which would have been great to cover the shortfall.
Also are student loans taken into account when remortgaging?
Thanks so much in advance.

OP posts:

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titchy · 15/08/2018 17:58

If it's over three years it's part time - can't you do it the old fashioned way and work to pay the fees?

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SlugsyMalone · 15/08/2018 19:53

I work and I have 3 DC, there is no spare cash to pay for something like this, would be lovely if I could! I’d have to find an extra £1.6k a year to cover the shortfall.

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southeastdweller · 15/08/2018 22:34

That's expensive for a Masters!

Who not just take out some zero or low interest credit cards?

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KnitFastDieWarm · 15/08/2018 22:36

I’m assuming for that kind of money it’s an MBA? In which case be very careful to ensure it’s accredited/respected before handing over that kind of cash - I’m sure you’ve already checked this but I’ve known people be caught out before.

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KnitFastDieWarm · 15/08/2018 22:38

Sorry I didn’t register that you said it was an MSc - that’s insanely expensive for a non-MBA course especially for distance learning! Is it some kind of accreditation/professional course? I’m trying to work out how they can justify those fees!

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AlexaShutUp · 15/08/2018 22:41

I think most respected MBAs cost at least £25k these days, don't they? I know mine was around £22k and that was a few years ago. Fortunately, my employer paid!

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wizzywig · 15/08/2018 22:42

Isnt the government funding for masters now?

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southeastdweller · 15/08/2018 22:44

Yes but only up to £10.9K.

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AlexaShutUp · 15/08/2018 22:46

The government funding is the £10k mentioned by the OP. It isn't enough to cover her fees.

A lot of Master's courses come in under £10k, but depending on the subject and the institution, they can be a lot more too. I don't think £14.5k is that unusual, but you definitely need to check accreditation and find out what you will get for that money. Especially for an online course, which could be brilliant or could offer very little.

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SlugsyMalone · 16/08/2018 09:07

Sorry I went to bed and missed your replies!
It’s an MSc rather than an MBA, I thought it was a lot too, but it’s a really niche course that will help me with my career, I haven’t found another that compares in terms of the subjects that would be most helpful/interesting to my job. It’s run by highly regarded uni, I’m guessing it’s that cost as it’s over 3 years rather than 2? I may have to go along the zero interest card route. Thanks for your replies :)