5 Things To Consider Before Starting A Master's Degree

So, you have decided to do a masters? That’s amazing, but there are a few things that you need to consider before handing over that £6,000+ . In this article I highlight the most important things to consider before you sign up.

How will you Study?

For some people this is simple, you have just finished your bachelor’s, and you are going to carry on and do your master’s full time, no real upheaval — life carries on. However, if you are not currently a full time Undergrad or recent graduate when reading this, you may have more things to consider. Are you currently working? Do you have a family to consider? Do you have other commitments that need to come into the equation? Chances are you do.

Realistically you have three choices:

Full Time Study — Full time master’s courses are usually done on campus, although you do have a lot of flexibility in your schedule and the actual teaching hours are scandalously low for the price you pay (but that’s another topic for another day). If you don’t have a lot of other commitments and have the financial capacity, then studying full time is probably a good option. You will be able to finish your master’s a lot quicker and you will have less distractions, and conflicting priorities.

Part Time Study on campus — If full time study is not an option for you for financial or logistical reasons, then on campus Part-Time Study may be a great alternative. This allows you to have the on-site experience of being a student and going to lectures, as well as the benefits of being able to socialise with other post-grad students, without the rigidity of full-time study. You will also have the flexibility and breathing space to work part time if required or fit your course around childcare or other family commitments. In a lot of cases this is a great happy medium, allowing those with more on their plate to still achieve their master’s.

Online Study — Online master’s can usually be done full or part time but most people who study online do so part time (because why would you do it on-line if you were going to do it full time?) so I am going to focus on online-part time, this gives the greatest level of flexibility. Many Brick-and-Mortar Universities now offer fully online master’s degrees and they usually come with pre-recorded lectures and learning materials that you can work through at your own pace (within reason, there will be a deadline). The Open University also specialises in online learning (there are other purely online companies as well) and have the option to commit to one module at a time. This option is probably the most flexible that I know of.

Where will you study?

This is linked to the above as the mode of study chosen will narrow how many options you have.

Looking at findamaster.com there are 18,346 options to study a masters available in the UK *Mind Blown*the breakdown is as follows:

· Full Time on Campus — 13,902

· Part Time on Campus — 9,708

· Part Time Online — 2,042

· Full Time Online — 1,024

As predicted full time online is the least available option, and yes, I know those numbers don’t add up to 18,346 but you can blame findamaster.com for that, this was only for illustrative purposes, to show there are loads of options available.

If you are studying online, it is a matter of finding the course you want to do first, and then finding the right place to study, if you are studying on campus you may have to narrow down locations before getting your heart set on a subject matter. There is no point looking at degrees in Edinburgh university if your children go to school in Plymouth and you plan to keep it that way.

So, what do you need to consider?

· Do you meet the entry requirements?

· What are the fees in comparison to other options?

· Can you afford to live in the area (if you plan to move)

· What is its student satisfaction rate?

· Where is it in the league tables

· If online — are they accredited? (big one to check)

· Are there any additional costs?

· What support is given to online students?

· Will the course give you the accreditation / qualification required for your desired career (if relevant)

This is by no means and exhaustive list but it’s a good start, you should know the answer to all of these questions and be comfortable with the answers before you apply.

How will you pay for it?

If you can pay for your master’s upfront then you are in a good place, but for the most part this won’t be the case. There are three main ways that you would likely be paying for your master’s degree.

Self-Pay — This doesn’t have to mean you have all the money up front, many universities’ especially online ones will let you pay in instalments, payment plans or module by module. Make sure you research all the options before making the plunge either way. You may have saved £8,000 but if you are still working, it may be worth paying in instalments instead of emptying you bank in one go, this way you will still have something tucked away for emergencies in between payments.

Sponsorship — It is a rarity but they do exist, this could be a sponsorship from the university or from an employer or charity. If your employer is sponsoring you to do your degree, then you’re probably not reading this as it will all be arranged by them, but for those who aren’t being sponsored it is still worth looking around to see what sponsorships are available form your chosen university or for your chosen field. There are many databases and websites out there that claim to be able to help you find a scholarship, but I have never tried one so I cannot endorse them. Some of them are free for a basic membership so it’s worth a try.

Student Loans — Most people (including myself) will pay for their masters using a student loan. In the UK you can claim up to £18,500 in student loans to pay your tuition and living costs while studying, you will begin to pay this back once you have finished your course (or left university if you don’t complete it), and you start earning £25,000. You will pay back 15% of anything you earn above £25,000 per annum. So, if you earn £26,000 you will pay 15% of £1000 = £150 over a year, so £12.50 per month. If you earn £40,000 a year you will pay 15% of £15,000 = £2,250 over a year, so £187.50 per month. This will be on top of any student loan repayments you are making from your Undergrad, each loan is a separate contract. The current interest rate on UK Student loans is 6%. I will do a full article on Student Loans in the next few days.

Are you doing it for the right reasons?

If you have read my last article, you will hopefully have gotten to the bottom of why you are considering doing a masters. If you didn’t, check it out here:

https://medium.com/@shellyfreeman_60761/3-reasons-to-study-a-masters-and-3-reason-s-why-you-shouldn-t-7f5ebfd9830a

There are of course many good reasons to do a masters, and many really bad ones, if you use the 5 why’s method detailed in the above article you should get a good idea of your true motivations. You need to be comfortable with your reasons, because if your reasons are weak your motivation will be weaker. Make sure you are doing it for the right reasons before making any big commitment.

Are you studying the right subject?

Now, this depends largely on your motivation to do a master’s in the first place but if you have a specific career or accreditation in mind, make sure you have thoroughly researched what is needed and that your course provides the right qualification. Education for example, you need a PGCE to be a teacher but what sort of teaching you want to do will dictate the type of PGCE you get, there is no point getting a secondary education PGCE if you want to teach primary school. Many medical professions need certain post grad qualifications as do a lot of roles in the social sciences. For example, if you want to be a Clinical Psychologist you will need ensure you masters is accredited by the British Psychological Society.

If you are doing your masters for the soft skills, the academic prowess or for your own love of education, the specifics of the course won’t be as important, it is still worth doing your research into the individual modules to be reasonably sure you will enjoy it. Remember if you enjoy it you will be more motivated and likely achieve a better grade.

Hopefully this article has given you a few good tips on what to consider before signing up to your master’s, if you have clarified all these points, you should be in a much clearer position and have a better idea of the road ahead.

Good Luck!!