I received an offer from Nottingham for a phd in law but did not get the scholarship. I have also applied to other universities who are not as good and they are also interested. I don't know which one is more important: funding or the prestige of the university.
I've said elsewhere that I would caution against doing a full time PhD unfunded as the employment opportunities at the other end are slim, so it can be a dubious investment of personal resources.
However, it depends on whether your post PhD plans are academia or something else. That will affect the decision you need to make.
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