Back to advice

Planning the costs of your masters degree

By Talk Postgrad

Friday 17 April 2015 Funding

When thinking about your masters course, fees are the most obvious cost that comes to mind, starting from £5,000 a year upwards or £8,000 for international students. But there are also some other costs that you have to keep in mind and plan for, which Talk Postgrad have laid out for you.

This may seem daunting, but if you plan how you are going to finance your studies ahead of time, you can minimise how much you worry about money and can concentrate on your course.

Accommodation

Living at home will generally cost less but if you do have to find accommodation check with the university which may have postgraduate-specific accommodation, or may help you find other postgraduates you may be able to share with.

Travel

Factor in how often you will need to travel to and from university and how much it will cost you, whether it's by public transport or by car. If you are travelling by car, you might be able to park for free at the university so it is wise to check.

Course expenses

If there are particular parts of the course that can cost extra, the university should tell you this up front - this could be for particular equipment or for field trips. If this is difficult for you, the university may be able to help you with these extras - it is always worth asking.

Clubs and Societies

Many universities have specific clubs and societies for postgraduate students - some social and others related to a course or subject. They are a great way of making friends, getting support, helping you with networking and development and sharing experiences with other postgraduates. Some will be free of charge, while others will charge a fee which you will need to take into account.

Have a look what postgraduate clubs and societies have to offer here.

Discounts

As a student you'll be eligible for student discounts from cards like TOTUM. Check with the students' union what local offers are available to students.

The cost of a masters course can seem daunting but the benefits, both whilst you are studying and in the future, can be really important. Have a look at Talk Postgrad's articles for more helpful information.