Regardless of what level you are at in your academic journey, there’s no denying that the cost of living as an individual at university is high – especially when you’re based in London. Whether you’re at the beginning of your postgraduate research, or if you’re well under the way, this article intends to highlight the ways in which you can prepare, protect yourself or get support on the cost of living.
Regardless of what level you are at in your academic journey, there’s no denying that the cost of living as an individual at university is high – especially when you’re based in London. Whether you’re at the beginning of your postgraduate research, or if you’re well under the way, this article intends to highlight the ways in which you can prepare, protect yourself or get support on the cost of living.
How can I fund my postgraduate research?
Funding a postgraduate degree is different to undergraduate, as at undergraduate level, UK residents receive a maintenance loan, and their tuition fees are covered separately. However, for postgraduate research it is common for researchers to have their tuition fees covered by an external company or the university and then receive a living wage stipend.
Studentships. Studentships are postgraduate positions to cover fees and/or living expenses. For the majority, these are funded by UK Research and Innovation. In addition to funding, these studentships also offer access to training, networking and development opportunities for your research career. The stipend that you receive, in addition to the tuition fee support, is non-taxable and does not need to be paid back. You may choose to visit search engines, like www.postgraduatestudentships.co.uk or www.findaphd.com to discover what universities and organisations currently have studentships for prospective researchers to apply for.
Postgraduate doctoral loans. If you are a UK resident and start your postgraduate research course after 1 August 2024, you are entitled to up to £29,390. This is a loan to help with your course and living costs and must be repaid as with any governmental loan. It is not based on your income or your family’s income and the whole amount is paid directly to you. You can apply for this via Student Finance England and can apply in any year of your course but may not get the maximum amount if you apply after your first year. While this assists with covering your tuition fees, please note that you will most likely need to have an additional outcome to cover living costs on top of the tuition fees – whether this is from savings or a part time job. You may also choose to go from full time to part time study to focus on saving some money, and most programmes will allow you to switch between the two relatively easily, as and when necessary.
Part time jobs. As this article has highlighted, it is unfortunately common for postgraduate researchers to feel overwhelmed with the cost of living. Sometimes you may choose to pick up a part-time job to lighten some of the financial strain that you are feeling. Not only will this help with having an additional route of income, but it will give you more industry work experience and it’s a great way to meet new people. Here at the Students’ Union, we have student staff job vacancies in our QMSU outlets – these roles can vary from receptionist to barista, sales assistant to fitness trainer. We even have intern roles, where you can work with full-time staff on a project or specific department of the Students’ Union to really develop skills for your CV. Of course, there are also lots of part time jobs that you may wish to apply for outside of QMSU and QMUL – plus it could be worth mentioning your interest in additional work to your supervisor(s) who may know of some external paid work on offer.
What expenses do you need to account for in your budget?
When you’re a PGR, like other students, you have to consider where your outgoing funds are actually going so that you can keep track of it. Especially when you’re first planning your finances at the start of your programme, or even doing some financial check-ins throughout the year. Here are some things you might want to consider when budgeting for the year ahead.
Food and drink. If you plan to do a lot of research away from home, food and drink can become a big expense in your personal budget. Never underestimate the power of a meal plan and taking your own packed lunch! Plus, we understand the appeal of meeting your friends for a nice dinner out and maybe a couple drinks after a hard day in the library – but why not swap that out for hosting a cheap and cheerful dinner party with your nearest and dearest? You and your friends can take turns to host, and ultimately a grocery shop will be cheaper than going out for a meal. If you find yourself gravitating towards studying on campus, our Students’ Union outlets have great student deals. For example, try going to Drapers for a hearty burger and chips, or Ground Cafe for your mid-afternoon pick-me-up with a matcha and sweet baked treat.
Accommodation. When thinking about where you want to live in London, it will be important to consider where you will most likely be on a day-to-day basis. Will you do much of your research in the library on our Mile End campus? Is there a specific archive that you’re focusing on? Do you have a favourite study spot off-campus that you go to multiple times a week? As a postgraduate researcher, you don’t have the same contact hours as students on taught programmes, therefore you don’t have to necessarily be a walk away from campus. Plus, a commute can be a great opportunity to get some reading done and/or have some distance from your home and where you study.
Personal expenses. Often when budgeting, it’s easy to either forget to account for personal expenses – for example: clothes, toiletries, subscriptions, and personal travel – or to limit the amount of money being set aside for this. However, it’s important to be realistic about how much money you will need to put into this category. Transport can absolutely be a frustrating outgoing cost, but you’re in London, so you might as well take the time and money to fully explore it! It’s important to maintain a positive, but separate, personal life outside of your research world, and allowing yourself to spend some money on personal expenses will really help to separate your personal and academic lives.
Social activities. Again, with less contact hours, PGRs may feel more isolated than students at other levels of studying. With a smaller likelihood of being on campus at the same time as your cohort meaning less free social activities on campus, it may be that you have to account more money in your budget for social activities outside of events on campus! There are tons of cheap and free things to do in London, like visiting museums, galleries and green spaces. But it’s important to not hold back on social activities as a PGR, it will be vital in building your research community. Plus, we host lots of free events for our postgraduate community – find out more about these events on our Postgraduate Hub!
Research costs. In addition to your tuition fees, which you may or may not be covering yourself depending on your funding source, there may be hidden research costs. Hopefully a lot of your sources will be available through archives and libraries that you will get access to through Queen Mary, but on occasion you may choose to purchase a text so that you can have your own personal copy. Moreover, visiting archives may incur travel costs, especially if they’re outside of London! You may choose to contact your supervisor, or an administrator in your department, to see if there’s any additional funding for travel or materials related to your research. Find your administrator’s details here.
If you require further support with budgeting, the University’s Advice and Counselling Service can provide personalised money and welfare advice. To book in a meeting to discuss this, please visit their webpage here.
How can I save money as a postgraduate researcher?
It’s easy to forget that postgraduate researchers have the same access to student discounts as all other students. We recommend setting up a free account with UNiDAYS and/or StudentBeans, which are the most popular ways of proving your student status from the comfort of your own phone. There’s also a phone app called Too Good To Go – our outlets, and many more, list unsold food at the end of the working day, so you can get discounted food while also saving it from going to waste!
All full-time students, regardless of their age or level of study, are eligible to purchase a 16-25 Railcard. The Railcard itself costs £30 a year but gives you 1/3 off rail travel. Furthermore, you can head to a tube station and ask for your Railcard to be linked with your Oyster card for discounted tube fares. Even more saving on travel!
While PGRs do feel separate from the general student body, you are still entitled to take full advantage of the student offers that are typically associated with undergraduate students! Keep an eye on our Students’ Union deals and offers section and external resources links on our cost of living webpage.
Where else can I turn to get financial support?
In case you need further support than what has been covered in this article, please give the links below a read: