A Simple Introduction to PhD Funding

PhD funding is primarily provided by government bodies like UKRI, student finance and universities. Funding from charities, business/industry and graduate teaching assistantships may also be available. PhDs can be fully funded (including living costs), typically through highly competitive studentships. PhDs can also be completed without direct funding (self-funded), but this should be considered cautiously.

Sometimes PhD funding is simple, like eating a ham sandwich someone gave you. Sometimes PhD funding is complicated, like merging three different meals together to get a ham sandwich. Sometimes you don’t have a sandwich to start with and have to rummage through cupboards as you go, hoping to find some ham. Occasionally the cupboards may send you refusal emails, which is where the comparison breaks down somewhat.

Still, I’ve got some good news: to reduce rummaging time, I’ve prepared a nice handbook detailing your PhD funding options. I’ll go over the typical and atypical funding sources, an action plan on securing funding, and my list of hot tips. If you want a list of specific funding sources, you can check out our funding section—this guide is to get you started on what to look at.

Sandwiches aren’t required to read this article, but you’re welcome to go grab a bite if you like. Just don’t ask me what counts as a sandwich (we’ll be here a while).

Who funds PhDs?

There’s a rainbow of sources for PhD funding, so let’s strip it down to some broad groups:

• Government bodies such as research councils. They can provide considerable funding to support national research objectives, so it’s a competitive space. In the UK, the biggest provider is UKRI. For similar organisations abroad, see our study abroad guides.
• Student finance, though this doesn’t usually cover the full cost of the PhD. The UK PhD loan is £31,122, and other loans may be available from banks and private lenders.
• Universities can offer full studentships, small fee discounts (often alumni) and limited grants for living costs and the like.
• Graduate teaching assistantships provide funding in return for teaching, research assistantships or other work.
• Independent charities and trusts can fund PhDs that support their goals (medical research, heritage preservation, etc.). This isn’t usually full funding, but it can be.
• Business and industry will occasionally support PhD students whose work may benefit their commercial objectives. Sometimes this funding will be offered to current (or prospective) employees.

One last source to mention would be funding via working alongside your PhD. It’s essentially a form of self-funding, and isn’t recommended to be your source of full funding. Still, if all you need is a top-up along with one of the options above, it’s worth keeping mind.

The different funding scenarios

Before we continue, let’s consider the (general) funding scenarios:

• Fully-funded. This means a full studentship covering fees, living costs and expenses.
• Partially-funded. You might have a partial scholarship or studentship which covers fees or living costs (but not both). Topping up with grants and/or savings is the likely route for the rest.
• Self-funded. You’re paying for the PhD with a combination of loans (which must be repaid), savings and earnings.

Which scenario you fall into depends on various factors, and you’re not locked in. You might start as a self-funded student but win partial (or even full) funding later on. Your PhD subject can also affect things—STEM (Science, Technology, Engineering and Maths) PhDs are more likely to be fully funded.

Consider the following steps as a general route for your funding journey. You might already be further along than #1, so feel free to skip to your point in the journey. Time is money, after all, and you’ve got a PhD to fund.

#1 Speak to your supervisor (if you can)

I don’t recommend contacting a potential supervisor just to ask about funding. Still, if you’re already in conversation, they may have some advice on what to focus on for your field.

#2 Start by searching for funded projects

Lots of PhD projects are actually advertised with funding attached. They're much more common in STEM, but that doesn't mean there aren't any in subjects like English, Philosophy or Sociology.

#3 Look for separate studentships and PhD bursaries

If you’re proposing your own PhD topic or applying for an advertised project without relevant funding, you’ll want to find a studentship or scholarship to ‘attach’ to your PhD. Your university will be your best bet most likely, whether that’s their own awards, those provided by the government, or charitable grants and bursaries.

#4 Explore opportunities with business, industry or external funders

In some fields this should really be step #1, but you'll know if so (or your supervisor will tell you). Otherwise, this option is worth a try if you've got this far without finding full funding.

As for which companies might take an interest in your research, common sense can guide you here. Car manufacturers, for instance, probably aren’t going to sponsor your PhD in eighteenth-century lyric poetry. If you somehow manage this unlikely situation, consider writing for our blog and/or buying a lottery ticket.

#5 Try to build a funding portfolio

If full funding is off the table for now, it’s time to put lots of partial funding together (like that Frankstein sandwich from earlier). Fee discounts or partial scholarships from universities are worth looking at, as well as smaller charities and trusts.

#6 (Carefully) consider self-funding

If you’re in a field with flexible working and lower research expenses (like Arts and Humanities), it’s possible to self-fund your PhD. PhD loans and part-time work can fill the void, but it’s still not ideal. If you’re considering this, talk it through with your prospective PhD supervisor. They’ll have a good idea on how much time you’ll have for work, as well as how realistic finding more complete funding might be later on.

Tips from the author

You’re now armed with the general shape of your funding journey, but I’m not going to leave it there. Like the stories of old, I’m also arming you with a magic sword in the form of some hot tips. Unlike a magic sword, you won’t get arrested for using these in public. On the negative side, you can’t sell these tips on eBay to pay for your PhD tuition. Oh well.

• Funding situations and statuses change. Many funders will consider applications from existing students, so keep an eye out for ways to top up your funding.
• PhDs are long. If you start off self-funding, you need to be sure you can keep self-funding if you need to. That includes all the way to the finish line.
• Living costs and expenses are usually the biggest challenge. Fee waivers and other funding might help with your fees, but getting funding to pay living costs is harder. Eating nothing but plain pasta isn’t a solution (scurvy tends to be bad for your PhD research, believe it or not).
• Part-time study makes things more manageable, not cheaper. Your fees are halved, but you’re studying (and existing) longer. That’s not favourable maths.
• (Most) funding can be combined. You can typically combine everything that isn’t a full studentship, but make sure to check the terms and conditions. No one wants out of date ham.
• Funding changes. New studentships and other funding opportunities can come up out of the blue, so stay updated to get the first scoop. Kind of like looking at the clearance section of the supermarket.

And with that, I reckon that's all for general funding info. If you'd like details on specific funding sources, check out our other funding guides for more specific funding sources. We also have funding steps for proposing your own project if you’re ready to start throwing bricks through funding providers’ windows. Just don’t literally do that, it won't get you funding (and it’s illegal, apparently).

Finally, for news, advice and funding success stories, check out our funding blogs. 9/10 dentists agree that you'll find great stuff in there (I'll get that last dentist one day).

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