Hi guys,

I recently got awarded funding, somewhat unexpectedly but delightfully. I also understand that the government has a new scheme which allows PhD students to take out a Doctoral loan
of up to 25k. (https://www.gov.uk/doctoral-loan/what-you-get). I think my stipend should be plenty and I have enough student debt already so I am erring towards not taking out this loan but I was just curious to have if anybody was thinking about taking it.

Not sure how, but I didn't know this loan existed! I don't think I'll take it - I have managed to avoid debt so far (grants and scholarships etc), I don't think I want to start now.

From what I understand of your position from your other posts, you are not eligible for the government PhD loan, as anyone receiving RC funding in any shape or form is not eligible.

I am not quite sure, but it seems likely from the SFC website that those on university scholarships (as opposed to RC funding) or other financial support from a 'non-public' source are eligible. I am waiting on the decisions of my university scholarship applications, and I have also applied for the PhD loan, intending to take both if my scholarship applications are successful.

Chaotic is correct - you're not eligible if you already have RC funding, not sure about other funding. But if you're fully funded you wouldn't need it anyway, so not sure why you would want to take it?

Hi folks,

Just to double confirm (from a funding geek) that you're still eligible for the doctoral loan if you have funding from a source that isn't derived directly from public funds (main examples being full or partial Research Council awards or NHS funding). Charitable grants, university scholarships, etc, all fine.

Details in our guide (which is currently being updated) and more info / advice to follow on the FindAPhD blog over the next few weeks.

https://www.findaphd.com/funding/guides/uk-phd-loans-scheme.aspx



Cheers

Mark

Having been in business for over 20 years, I guess I am just used to having those little luxuries in life...so why not take the money if it's on offer?

I dunno, cuz it's a loan not a gift and you gotta pay it back with interest at some point?

Well, that really depends, doesn't it? If the PhD proves useful to my future career, then it'd be a pleasure to pay it back, with interest. If, however, it does little to help my gaining useful employment in academia (what else is a PhD in the social sciences good for?), which is the far more likely scenario according to people wiser than I, then it's unlikely I would have to pay back any of the loan at my age. Therefore, the loan is essential a 'free gift' for all intents and purposes.

This may beg the further question as to why I would want to 'waste' 3-4 years studying for a PhD if it is unlikely to help me in a late change of career direction, the answer is really quite simple. It is a quest for knowledge in an attempt to satisfy intellectual curiosity. After all, isn't that what education in general, and research in particular, are suppose to be about?

In that case, sounds like a good option!