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Posted April 25, 2013

Should the Government Do More to Help With Postgrad Funding?

There has been a large amount of media coverage surrounding the increasing prices of undergraduate course costs and the negative effects that this is having on student numbers and the future of the workforce, however the same financial problems are being faced by postgraduates looking to continue their studies yet this issue is rarely discussed. Many students are already in a position of debt following their undergraduate studies, and although they wish to continue on to complete a postgraduate degree, the finances simply won’t allow for it, and according to many the government should be doing more to help.

Equal Chances

The government’s higher education department issued a statement in December 2012 saying that “anyone with the ability who wants to go to university should have the chance to do so, whatever their economic or social background", but is this sentiment actually being backed up with financial support? In 2012 there were 50,000 more students accepted onto undergraduate courses than five years previously, and you may expect that a large percentage of these people would want to continue on to postgraduate courses; however the figures reflect a different story, where less and less people are in a position to afford the rising costs.
 

Currently there is next to no help available for postgraduate study, with the career development loan being the most common form of funding. The government pays the interest on this during the course, but once graduated, this is handed back to the student, leaving them with a £10,000 loan to repay at rates very similar to an ordinary bank loan. This means that many postgraduates will only take out this loan as a last resort once they have exhausted all other funding avenues such as charity donations, scholarships, bursaries, and part time employment.
 

Funding Issues

Most of the funding that is available through bursaries and sponsorships is directed towards research-based courses as those providing the funding have a vested interest in the students work. The real struggle for postgraduate funding comes for courses that are not research based. Funding may be available for those looking to conduct medical research or industry specific projects, but is not readily available for those looking to enrol in a master’s in the arts or languages. Many of the top universities including Exeter are actually sidelining most of the ‘taught’ postgraduate degrees and concentrating mainly on research intensive courses.
 

If the government is to stick to its ‘higher education for all’ mantra, it is important that they take steps to help with the widespread funding issues that are deterring many graduates from furthering their education. There is no natural incentive for businesses and industry bodies to sponsor certain academic subjects at this level, so it falls to the government to step in.
 

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