Are you considering postgraduate study, but financial worries holding you back? Many students are surprised to learn that a Masters can be more affordable and flexible than they expected.
Here’s the truth behind some of the most common myths.
Myth 1: Postgraduate student finance is means tested
Unlike undergraduate student finance, postgraduate funding isn’t means tested. That means your household income doesn’t affect what you’re entitled to receive.
Whether you live at home, independently or have a higher household income, you can still access postgraduate funding to help support your studies.
Myth 2: I’ve already used four years of undergraduate funding, so I won’t get any more
Postgraduate funding is separate from undergraduate funding. Even if you’ve used four years of undergraduate student finance, you can still apply for postgraduate funding for an eligible Masters degree.
Myth 3: I’ll be worse off because there’s no maintenance loan
Postgraduate funding works differently. Instead of receiving separate tuition fee and maintenance loans, you’ll receive a postgraduate loan which can be used towards both your tuition fees and living costs.
If your tuition fees are lower than the amount you can borrow, you can use the remaining funding towards rent, bills, travel and other day-to-day expenses.
As a current Edge Hill student, you could benefit from our Progress to Postgraduate Award which gives you a 20% tuition fee reduction when progressing onto an eligible postgraduate course in the 2026/27 academic year. That means more of your postgraduate funding can be used to support your living costs.
In fact, if you’re currently receiving the minimum undergraduate maintenance loan, you could be financially better off under the postgraduate funding model.
Myth 4: A Masters means I won’t have time to earn money
Many Masters courses are designed with flexibility in mind. Students often combine postgraduate study with part-time work, allowing them to continue earning while developing specialist knowledge and boosting their career prospects.
Full time Masters taught sessions often take place across 2-3 days per week, leaving plenty of time for individual study or part time work. There is also the option to study a Masters part time, giving you even more flexibility outside of lectures.
A Masters can fit around your life. Not the other way around.
Studying a PGCE? You could benefit from a tax-free bursary or scholarship to support you while you’re training to teach. Bursaries are automatic if you’re eligible and worth up to £29,000 (for 2026 entry, depending on your subject area). Scholarships should be applied for directly through the scholarship provider, they’re worth up to £31,000 (for 2026 entry, depending on your subject area). You can only receive either a bursary or a scholarship, and you don’t need to pay them back.
Myth 5: I have to choose between a Masters and a PGCE
You don’t have to pick one forever. You can complete a Masters and then go on to study a PGCE, or complete a PGCE first and return to postgraduate study later.
Why? Because Masters degrees and PGCEs are funded differently. As they’re separate funding routes, many students can access funding for both during their academic journey.
Both routes can open new opportunities, strengthen your CV and help you achieve your future career goals.
Your future could cost less than you think
With postgraduate funding available, a 20% tuition fee reduction for eligible EHU graduates, PGCE bursaries and scholarships, as well as flexible study options that can fit around work, continuing your education may be more achievable than you realise.
Got questions about postgraduate finance?
Our team of experts are here to help. The Money Advice Team are available to give you advice and answer questions you may have about progressing to postgraduate study. And if you want specific tailored advice, they can act on your behalf (through consent to share) to gather information about what funding you will receive. That way you know exactly what your finances will look like as you continue your studies.
Ready to take the next step?
The information included on this page applies to most of our postgraduate courses, but there are some exceptions. For course-specific information, please be sure to check the finance section of the course you are interested in before applying.
Explore your postgraduate options and discover where it could take you.
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July 20, 2026
