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Madeleine

May 5th, 2022

How I financed my master’s degree

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Estimated reading time: 3 minutes

Madeleine

May 5th, 2022

How I financed my master’s degree

0 comments

Estimated reading time: 3 minutes

There are multiple things to consider when undertaking a master’s. For many, the cost of a master’s can be the biggest factor in deciding where to study. After meticulously writing out what the tuition and cost of living in London would amount to, I then was able to visualize how I would afford my studies through grants, concurrent part-time work, and savings.

Scholarships and Grants

LSE Centre Building

There are so many scholarships and grants that are applicable to such a wide berth of circumstances! The classic sources can include those directly from LSE, from your previous academic institution, or from government sources. For instance, the Commonwealth Scholarship is a popular one that certain international students can apply for. However, there are also grants available from other private sources and charities that not as many people are aware of! The key to these types of grants is leaving enough time to scour the internet for one’s relevant to you.

Starting to investigate scholarships and grants as early as possible is crucial as application deadlines are strict! I created a spreadsheet to keep track of grants I qualified for, when their applications were due, and when I had completed them.

Part-time Work

View from a high floor
View from my job during my undergraduate co-op programme

Working during a master’s can be daunting, especially with the number of hours needed for studying and leaving time for enjoying the LSE experience. Nevertheless, with the right focus, time management, and support, it is possible! I work as a sports coach on some evenings and weekends. I’m lucky that it’s a job that I deeply enjoy, and that presents a nice mental and physical break from studying at my desk. Similar to applying for grants, looking into jobs as early as you can is great!

Not sure where to start? LSE Careers is a great resource for student jobs, and even looking ahead to jobs for after graduation, in London.

Savings

Savings, as with the categories above, are very dependent on personal circumstance. For me, I was able to take part in a co-operative education programme during my undergraduate, which meant I had the opportunity to work full-time and part-time on-and-off throughout my degree. I also had a second job as a sports coach and was able to live at home throughout my degree, so the vast majority of my income went directly to my savings with the goal of affording my master’s degree. The process of saving for so many years and finally being able to achieve and pay for your goal is extremely fulfilling.

Overall, taking time to plan, and to explore the multitude of financing options is a crucial step to take at the beginning of your master’s journey. Good luck!

Learn more about scholarships and financial support available for graduate study at LSE

About the author

Madeleine

I’m a Master’s student here at LSE studying International Relations. This year I’m balancing my academic pursuits with exploring and enjoying everything London has to offer!

Posted In: Money

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