Case studies: Bank loan: Dimitrina Kaneva

Dimitrina Kaneva is doing a PhD at The University of Manchester. She is funding the three year research course with a Professional and Career Development Loan (PCDL)

I chose postgraduate study because I am interested in research and a career in academia. I knew right from the beginning that this pathway and course were right for me so I never really considered any other career options.

My PhD is about the experiences of children, who are new to the English language, moving from primary to secondary school. It is a research area based around school improvement and making schools more welcoming to diverse student populations.

I knew about the PCDL from friends who had applied in previous years. I did extensive research about the conditions of the loan and all of the procedures involved before deciding which bank to apply to first. I chose The Co-operative Bank because I was told that it is very efficient and none of my friends had any negative experiences with it. I asked for £4,000 to cover my tuition fees and books in the first year of my PhD because I wanted to have the security that I would not have to worry about the fees.

Once I had sent off all the required documents (application form, course confirmation letter, certified copies of my passport and residence documentation), the process was extremely easy and hassle free. The bank dealt with everything and sent me the final forms to complete and sign. The tuition fees were transferred directly to the university in two instalments. Everything was dealt with within deadlines and in a professional manner. I found the process very easy which enabled me to focus on preparing for my course rather than being stressed about the loan.

I thought about using my personal savings to cover the tuition fees so that I didn't have to take a loan but this would have been a stretch. My family offered financial help as well, but I really wanted to be independent and pay for my studies myself which made me lean towards applying for the PCDL.

Postgraduate study is an important step in my career development so I would have looked for other funding opportunities, if I hadn't successfully secured the loan. As a matter of fact, I have only used the loan to cover my expenses in the first year of my course. This gave me the time and energy to focus on my studies.

I have loved every day of my course and I am convinced that this is the right place to be in terms of career progression. One of the advantages of postgraduate study is that it develops organisation and management skills because postgraduate students have to manage their own timetables and be disciplined about their time. On the other hand, there is flexibility in terms of working hours. Even though postgraduate study is demanding and hard work, it could also be a lot of fun especially when meeting new people and exchanging ideas.
 
There are funding options out there and, in my opinion, nobody should give up postgraduate study because there is always a way to go about it. I am enjoying it very much and just the feeling that you are moving in the right direction gives you more energy and inspiration to get on with university work.