Finance

For UK and EU students the maximum fee chargeable by a UK university is £9,000 in 2013-14. Studying medicine means at least five years of study and it is important that you understand the magnitude of debt that you will be taking on.

Tutition Fee and Maintenance Loans
Tuition fee loans are paid directly to the university while maintenance loans are paid into your bank account at the start of each term to cover living costs and rent.
The amount and how you apply for tuition fee and maintenance loans differs depending on whether you live in England, Northern Ireland, Scotland or Wales.

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The deadline for applying for a student loan is April-time each year. Remember to submit your loan application in good time to ensure the money is available when you start your course.
Further Info:
England
Northern Ireland
Scotland
Wales



Sources of Funding as a Student
With mounting debt life as a student can be tough and it is important that you are aware of other sources of funding:

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NHS Bursary The NHS will fund the tuition fees for the final year of your medical course.
Supplementary Grants Student finance offer means-tested loans and grants for students from low-income families.
Scholarships Some universities offer academic and sports scholarships and it is worth checking their websites.
Part-Time Work Bar work or other part-time work can help to supplement your income.

For a more detailed look at how to manage your finances be sure to check out our book.

Salary of a Doctor
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The average salary of a doctor 2 years after graduation (foundation year 2) is £28,000 per year. This equates to around £2150 after tax each month.

Consultants earn around £80,000 per year from NHS duties and can also supplement this with private work or administrative duties such as being a clinical director at a hospital.