If you are studying for a Masters or PhD, how are you funding it?

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£30k for a Masters at Warwick. And that's with an alumni discount 😭.

Student loans don't cover higher degrees and personal loans for that amount is not possible, not to mention repayment would start straight away.

How do people afford it? Is there are specific bank loan/ personal development loan that I've missed?

Also it's totally normal to have to relocate after graduation. My graduate job involved moving every three months for a year.
If he has saved up £10k for a masters then he could use some of that to help move.
Staying in rural area is a really bad move, you have to go where the work is when you graduate.

ds is starting his masters in september and the sfe covers the fees but there is no maintenance loan so he will be living at home and commuting to London.

Has he looked at scholarship hub website? They have a list of places that offer funding for masters. See here

The thing is, he should not be so dismissive about getting a year or two of work experience in finance/business if that's what he wants to go into, even on a low wage. Even academic studentships these days are more likely to go to student who not only have academic prowess but also can demonstrate a longer term interest in pursuing a career in that area, by way of work experience, internships, working in the field. It's not uncommon to have students with both. So, if he has no finance related experience to date, then that should be what he's acquiring, otherwise as WayHay says, the suspicion is that he's not really into this he just doesn't know what to do and doesn't want to do engineering. Some relevant work/work placements would help here, even to get a Masters scholarship (I have just looked up a couple of scholarships and that's what they are wanting, not just a 2:1 or whatever).

Thank you for your pointers and suggestions, this is really useful info for me to use a basis for my chat with nephew and identify how to move forward.

@Summerswallow he had a couple of offers for unpaid summer internship and got to the final stages of securing a paid graduate job with an investment bank but it unexpectedly reduced the intake of graduates for this year and so he missed out.

I think he does need to take the time to focus and identify where exactly he wants to go career wise and seriously consider graduate schemes rather than half heartedly apply for them whilst holding out for doing a masters.

I'm seeing him tomorrow so I can update on what he's actually doing.

Thanks all for your input!

Also, getting a bit of work experience is a good idea as he'll have missed the boat for most grad schemes starting in Sept. His application may also look better in a year's time anyway so this isn't a disaster at all.

Warwick is just out to get international business students and milk them - your nephew needs to think harder about where to do his Masters and what in.

Plus he is being offered jobs - they may not be what he wants but in Management Consulting, he is getting offers and the idea is that you work your way up. My DH started as a management consultant for one of the smaller firms straight out of Oxbridge and by his own account, he was useless to start with - salary reflects this.

Finally what exactly does he think his living expenses will be in London? He needs to be thinking about a flatshare, no car, etc - which is how most young professionals are living there at the start. Is he instead thinking he'll be renting alone, driving back to Bath, eating out a lot... - because that isn't how anyone really lives there.

Never do a PhD without full funding (covering tuition) and a stipend from the university.

Self funded all of my ones. And yes £30k is really high

With no experience in finance ams a non financial degree any type of experience would be beneficial