The UK is one of the most preferred study-abroad destinations for students and is known for its distinguished universities offering a wide range of masters courses. The universities provide top-notch education and facilities to the students. But, all these wonderful things burn a hole in the pockets of international students because of the high to very high tuition fees and exorbitant living expenses.

The tuition fee for masters courses is capped between £10,000 to £33,500 a year (approximately INR 10 - 32 lakhs) for international students. It involves great efforts for a student to secure such substantial amounts. And, not to forget the high-end living cost in the UK which amounts to around £11,000 per year (approximately INR 10 lakhs).

Providing much-needed relief to international students, there is a wide range of postgraduate funding options available for studying in the UK. These may include scholarships, grants, bursaries, fellowships, financial awards and loans.

Below is the detailed overview of the different postgraduate funding options available for international students wanting to study in the UK

University Funding

The tuition fee for international students is three times higher than that of the UK/EU based students. So, several universities in the UK provide funds in the form of scholarships to international students. These funds may cover the following depending upon individual university policy:-

• Partial/full tuition fee
• Partial living expenses including accommodation
• Other study-related expenses like stationery etc.

The criterion for these scholarships varies from university to university. It is important to check the complete requirements and deadlines before you apply for any kind of funding. You should always make sure that you don’t rely on a single option because the criteria for selection is stringent and the chances of being selected are little. Some of the most famous scholarships provided by different universities in the UK include - Gates Cambridge Scholarship (University of Cambridge), Rhodes Scholarship (University of Oxford), A.S Hornby Scholarship (University of Warwick) etc.

Public / Private Scholarships

These Scholarships are the funds provided by different public and private organizations to students who wish to pursue their post-graduation abroad. There are several different global, university-specific and country-specific scholarships which provide partial/full funds to prospective postgraduate students.

These scholarships may cover:-

• Visa processing fee
• Tuition fee
• Living expenses including travelling, stationery, accommodation and other bills
• Flight tickets (to and from the home country)

Different scholarships have their own requirements and may vary from course to course. Basically, you need a graduation degree with a minimum of 60% marks before you apply for such scholarships. You may also need Letters of Recommendation (LORs), Statement of Purpose (SOP), English Language Test scores (IELTS, PTE, TOEFL, GMAT), Acceptance Letter by the university etc. depending upon different specifications provided by the funding organization. You can always contact us for assistance.

Famous Global Scholarships include:-

• Chevening Scholarships
• Commonwealth Scholarships
• Saltire Scholarships

Famous Country Specific Scholarships include:-

• Inlaks Scholarships
• The Oxford and Cambridge Society of India Scholarships
• Felix Scholarships

Also, there are hundreds of university scholarships available for international students.

Don’t forget to check the convenient options as per your choice of the course and the university. When in doubt, talk to our student support team.

Bursaries

Bursaries are the monetary awards or annual stipends provided to a student with financial needs. They usually supplement other sources of funds that you can avail. You need a bachelor’s degree with decent grades and a few references to apply for the bursaries. Several universities, public and private organizations support students in the form of bursaries. It is advisable to check the financial aid and funding options of different universities before you apply for the bursaries. You can always contact our student support team for any kind of assistance.

Private Grants and Charities

There are several private non-profit organizations which provide financial aid to the students who wish to pursue study in the UK. Some well-off individuals also work for the welfare of students from an underprivileged background, girl child and differently-abled students. These may cover partial/full tuition fee and/or living expenses depending upon the fund provided.

Loans

Despite the availability of 1000+ scholarships and other funding options, it is not plain sailing for a student to secure funds to cover living expenses in the UK. Moreover, like many other countries, a student needs to show proof of funds to get admission into a UK university and to get a Tier-4 student visa. All this can be supported by an education loan. Some non-banking financial corporations provide loans at lower interest rates.

Unlike scholarships, you need to pay back the loan once you start earning. Kindly note:-

• Based on your personal circumstances, course and the university, an amount of up to INR 2.00 Crores can be secured through a loan.
• Different banks provide education loans and have their own eligibility criteria. Make sure you check the official websites of different banks for the precise details about the eligibility, loan amount and interest details.
• Keep all the documents including your academic records, an acceptance letter by the university along with the application for Tier-4 student visa ready before you reach out to a bank.
• You may also need to show your collateral assets (to ensure the ability of repayment of the loan).
• Loan disbursement procedure starts only after you get your visa.
• Generally, the loan repayment starts after the completion of your study (two years) but since these policies are different for different banks, you are better placed to check out these details from the banks’ websites beforehand.
• Special privileges are given to female students and differently-abled students, which can vary in the form of concession on interest and/or repayment time.

Taking a loan is easy yet a responsible decision and you can always talk to us for easement of the application process.

Part-time work

This is another possible way of securing funds to be financially and professionally stable. The permission to work in the UK is solely dependent on the kind of visa you get. You can work part-time for 20 hours in the normal weeks while studying, and full-time during vacations as well as before and after your terms. But, your major focus should be on studies and not on part-time work as this may affect your academic performance. The part-time work can help you in fulfilling extra requirements like travel and recreational activities. Please make sure that there is no gap between the study year due to part-time work. You can prepare a resume mentioning your skillset and the past experience if any and can reach out to different stores and offices for part-time work.

Crowdfunding

You can opt for crowdfunding as well, by taking the help of certain non-governmental organizations (NGOs) or through digital media and social media platforms. It involves funding from several different individuals on a common platform (usually websites) to raise the required fund. You may need to prove the benefits of your study to wider society. The funding can be in the form of charity or from peer-to-peer lending which can then be returned after a certain period of time.

Employer Sponsorship

If you are a working professional and postgraduate study can help you learn advanced skills and train you in a way that is beneficial for the Organisation, your employer can also sponsor your study. You need to make the value of your study clear to your employer so that they can provide the required funds. The value and feasibility completely depend on the employer and the organization.

Family and Friends

Last but not least, you can ask your family to fund your education abroad. You can reach out to your relatives and friends staying in the UK for helping pay your monthly mobile phone bills, food bills and travel charges. This is an informal resort and does not necessarily require any prior preparation.

To sum up, these postgraduate funding options for studying in the UK help students achieve their dream of studying abroad. The above mentioned are the most feasible means of funding and you need to consider the terms and conditions associated with each of them before applying. Our student support team is always at your service if you stumble anywhere in the process.