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Funding Medical School: A WPMN Guide to Navigating the Costs

By Freya Baxter

5th -year medical student



Medical school is exciting, challenging and full of moments you will remember forever, but honestly, it’s also full of financial surprises. Most people are aware Medicine is a long degree but, few realise how many extra costs pop up along the way. When I started, I genuinely didn’t know how much I’d spend travelling to placements, paying for electives, or even attending events like balls and conferences.

If you’re feeling unsure about what funding you’re entitled to or how to plan ahead, this guide is for you.


Student Finance: Years 1 – 4

In your early years, most of your funding comes from Student Finance. If you’re an undergraduate, your tuition loan covers your course fees for the first four years. Postgraduates get a reduced tuition loan, which doesn’t fully cover the cost, something that sometimes catches graduate-entry medics off guard.

Student finance can also assist with living costs in the form of maintenance loan. Here is the part that most students actually want to know:


Undergraduate Maintenance Loan

Everyone can opt to receive a basic non-income assessed minimum amount of £4,013 (Student Finance England, 2026). If your household income is lower, you may be entitled to more:

  • Up to £10,830 if Living away from your parents, outside London

  • Up to £14,135 if Living away from your parents, in London


These are the standard Student Finance England (SFE) maximums for undergraduate medical students. It is important to note that Wales, Northern Ireland and Scotland use different systems so, the amounts may vary slightly.

You can use the Student Finance Calculator to work out how much you may be entitled to: https://www.gov.uk/student-finance-calculator

Repayment only starts once you are earning above the threshold and for FY1 doctors that is likely to be within the first year of working. For standard undergraduates, repayments usually begin the April following graduation. For students that have intercalated or completed Medicine as a second degree, repayment often begins sooner.

For doctors, loan repayment works more like a graduate tax as opposed to a traditional loan. Many doctors never end up paying off the full amount and remember: it is written off, at the latest, 40 years after the April you were first due to repay it.


A Quick Summary of Graduate Entry Medicine (GEM) Funding


Graduate Entry Medicine funding works slightly differently and can sometimes feel quite confusing. This is a brief summary:


  • Student Finance pays 2 thirds of your tuition fee each year.

    • Year 1: You pay the remaining third yourself.

    • Years 2 – 4: The NHS Bursary covers the remaining third.

  • In terms of living costs:

    • Year 1: You can receive a partially means-tested maintenance loan from Student Finance.

    • Years 2 – 3: Your maintenance loan from Student Finance drops quite

      significantly however, you receive a £1000 NHS Bursary plus potential

      additional means-tested support.

    • Similar to Years 2 – 3 but, the maintenance loan further reduces.

That is GEM funding explained in its simplest form. It may differ slightly for students completing the standard five-year Medicine course as a second degree. More information can be found here:


Four Year Funding Limit (Yikes)

Here is the part that many medical students are blissfully unaware of: Student Finance only funds four years of your degree. Medicine is 5 or 6 years long so, at some point your funding will switch over to the NHS Bursary. I know from personal experience the transition can feel a little confusing however once you understand how it works, it can become a lot more manageable.


NHS Bursary

From Year 5 (undergraduate) onwards, you will be eligible for the NHS Bursary. This includes:

  • Non-repayable tuition fees grant

  • A reduced-rate maintenance loan

  • Placement travel and accommodation expenses reimbursement


At this point, if you weren’t already keeping receipts for placement-related train tickets and parking, you should really consider it. The NHS bursary have a travel and dual accommodation expenses form which allows you to claim for costs associated with attending placement. The mileage rate is usually quite generous so, make a note of your travel days.


Top Tip: Elective accommodation costs can be claimed if you are simultaneously paying for university accommodation at the same time. This can be extremely helpful when planning an elective, especially if you’re worried about the financial side — these costs can be claimed retrospectively.


Intercalation: Funding an Extra Degree

Intercalation is an amazing opportunity, but it does come with additional financial implications. If you intercalate before your NHS Bursary years, you’ll be covered by standard Student Finance. It’s still possible to intercalate during your bursary years, but it may be slightly more complicated.

You should remember that intercalation adds an extra year of studying without a fulltime income. However, with the NHS Bursary covering tuition and contributing towards living costs, it shouldn’t put you off intercalating as it is a great opportunity and sometimes a much needed year out of the Medicine course.


Other Sources of Support

Alongside your main funding, there are several other ways to get help and increase your income your funds.

Most universities offer bursaries for wideningparticipation students, carers, and those from low income backgrounds. Hardship funds are also available if you experience unexpected financial difficulty, and they’re often easier to access than people think. If you think you might be eligible, check your university’s website or speak to a tutor.

Part-time work can be a great way to earn money during medical school. Although the schedule can be busy (especially in clinical years), retail and hospitality roles often become flexible once they understand your situation. Working in healthcare is another great option. Hospitals often use bank systems and may favour medical students for clinical support worker or healthcare assistant roles.


Tutoring GCSE, ALevel, or UCAT students is also popular because it’s flexible and pays extremely well. Lots of medical students use it to top up their income and it is something I wish I had done during medical school.


Scholarships and Grants

Here is a list of widening participation friendly scholarships and grants you may be eligible for if you are facing financial hardship:


Many universities offer their own hardship funds so, make sure to contact your university if you’re facing difficulty.

Some universities widening participation networks e.g., the University of Leeds has the Plus Programme. These networks sometimes offer funding for professional opportunities, such as conferences or training events. It’s worth checking whether your university has something similar.


A Few Tips

  • Keep every receipt during your NHS Bursary years – it pays off.

  • Plan ahead for electives as they can be quite expensive, especially if you’re considering travelling abroad.

  • Speak to older students as they understand the reals costs and can offer advice.

  • Check your university’s website for WP support – there’s often more help available than you think.

  • Don’t be afraid to apply for hardship funds. They exist for a reason!


Final Thoughts

Funding medical school is a lot — especially when you’re trying to navigate higher education without much guidance. The good news is that there’s genuinely more support available than most students realise. Once you know where to look, things start to feel much more manageable.


If you need help navigating it all, WPMN can be a helpful place to turn.


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