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Student Support & Wellbeing
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How to prepare financially for a Master’s degree programme

 

Funding for a Master’s degree programme differs from undergraduate funding. It is important to fully understand how this works and consider your options before starting your studies.

Sources of income:

  • Master’s Loan: Information can be found here:

SLC Masters Loans - Durham University

Please note that this is paid directly to the student, with no separate/additional tuition fee loan. The loan is usually paid with three instalments and can be used towards tuition fees. You would therefore need to consider how to cover your living expenses.

  • Scholarships: Details of Durham University scholarships can be found here, as well as a link to our external funding database:

Scholarships - Durham University

  • Further information on funding options (including for overseas students) can be found here:

Funding your studies - Durham University

  • Part time work: Many students work part-time during their studies, although please note that the University recommends no more than 15 hours per week. If you plan to rely on this income, try to secure a job before your course begins. Part-time work is also a great way of gaining work experience and building employability skills? Our Student Employment Service offers Durham-exclusive work experience opportunities, as well as working with local employers to help promote suitable opportunities for our students.
  • Savings: Students often use personal savings to fund their postgraduate studies. Therefore, you could consider working for a year or two to build up savings before returning to further study.

 

Consider your outgoings:

When working out if your income will be sufficient, consider the following outgoings:

  • Tuition fees: Use the ‘course search’ function to find your course, which will show details of tuition fees:

Study - Durham University

  • Accommodation/rent: Information on College accommodation fees can be found here:

Postgraduate Residence Charges - Durham University

Charges are usually inclusive of water rates, gas/electricity and broadband internet. Some colleges are fully catered, meaning that meals are also included with your residence charge.

Another option would be to rent privately. Costs vary based on location. You can use the University’s Housing Hub to find advice on looking for accommodation:

Housing Hub - Durham University

  • Travel: Should you choose to live away from the centre of town, the bus company Arriva offers a £1.50-£2.50 ‘day ticket’ on certain routes – meaning you can travel for only £1.50-£2.50 per day. See the following for details:

Public Transport - Durham University

  • Other living costs: Utility bills (if not included with rent); food leisure; costs associated with your studies, including books and other materials.

 

Draft a budget:

You can use the following to create a budget to help you plan your finances:

Budget for PG students