1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

Funding with a mortgage?

Discussion in 'Access to Medicine' started by Tom_Takami, Nov 19, 2012.

  1. Tom_Takami

    Tom_Takami New Member

    Joined:
    Nov 19, 2012
    Messages:
    3
    Likes Received:
    0
    Hi,

    I'm wanting to apply to a postgraduate medicine course. However, I currently have a mortgage, and from the information provided on the NHS website re: funding, it would be completely untenable for me to even consider this at present. For clinical psychology, there is graduate equivalent funding (approx £25,000 a year), and I was wondering whether there is any way of securing similar funding for a postgraduate medical degree? I know this is a long-shot, but I want to be certain before I abandon all ideas of becoming a physician.

    Thank you for your help,

    Tom
     
  2. snakefisch

    snakefisch New Member

    Joined:
    Feb 23, 2011
    Messages:
    853
    Likes Received:
    0
    A postgraduate medicine degree as in a 4 yr graduate entry medicine course e.g. MBBS?
    There is no such equivalent funding, but there is some tuition fee loans available and an NHS bursary but no where near £25K per year unfortunately.
     
  3. Tom_Takami

    Tom_Takami New Member

    Joined:
    Nov 19, 2012
    Messages:
    3
    Likes Received:
    0
    Thanks for your reply. Yes, I'd be considering one of the 4 year GEM courses. I'd be interested to learn how people fund such courses if they have mortgages/significant financial commitments - is it a case of saving a lot of money beforehand, or do people manage to work whilst training? I've also looked into scholarships, but they seem to be non-existent for GEM courses...
     
  4. snakefisch

    snakefisch New Member

    Joined:
    Feb 23, 2011
    Messages:
    853
    Likes Received:
    0
    Yes funding is indeed very limited.
    Personally, I am selling my flat to pay for the course! I have estimated in the region of at least £40K living costs to get me through the 4 years, after they give all the loans etc (so on top of that I'll have over £20K tuition fee loans to pay back).
    I have also been saving up so come next Sept I'll have been saving for 2 years and should have a bit extra to help me out, but the main bulk will come from selling my flat.
    Have thought about working during the course, but to be honest I think it'll be too much for me, but I have heard of people who do. Obviously there is some holiday time where you could, but that's significantly reduced c/w 5yr especially in the latter years.
     
  5. Martigan

    Martigan Super Moderator

    Joined:
    Mar 24, 2009
    Messages:
    2,534
    Likes Received:
    28
    I rented out my house and got a cheaper one. The rent covered the mortgage and gives me a small income to live off.
     
  6. Tom_Takami

    Tom_Takami New Member

    Joined:
    Nov 19, 2012
    Messages:
    3
    Likes Received:
    0
    Thank you very much for sharing your strategies re: finance. I think that if I were to 'take the plunge' by renting/selling my house and moving back in with my parents, I would be able to fund a 4-year GEM course. However, I've just purchased my first house with my partner, and I know that they wouldn't be happy about me choosing this option. Obviously the problem lies in my inflexibility, and I probably can't expect to study medicine unless I make these sacrifices (or win the lottery). I will however explore the scholarship option further - does anyone know if scholarships for GEM courses exist in England?

    Many thanks,

    Tom
     

Share This Page