So, you’ve decided to do a PhD! Yay! That’s a huge step. The next step after the excitement wears off is usually, “How on earth am I going to fund it?” The world of PhD funding can be confusing, it’s not always straightforward, and sometimes it feels like you need a PhD to understand how to fund a PhD! But don’t worry, there are multiple routes to making it work! Here’s your extended guide to scholarships, stipends, and side hustles!

1. Scholarships and Fellowships
2. Research Assistantships and Teaching Assistantships.
3. Institutional and Charity Funding
4. Self-Funding (and Why It’s Tricky)
5. Side Hustles to Support your PhD
6. Budgeting and Money Management

1) Scholarships and Fellowships

Scholarships and fellowships are among the most common and coveted ways to fund your PhD. While PhDs can be self-funded (see below), it is highly recommended to receive a scholarship or fellowship to have a steady income during your PhD. These awards are usually competitive and offered to students with strong academic records, clear research potential, or projects that align with funding priorities (such as neuroscience, cancer research, global health, etc.)

• National Funding Bodies: In the UK, key players include UKRI, MRC, and Cancer Research UK. In the US, big names are NSF, NIH , and other national research councils. These bodies usually provide generous stipends and fee coverage
• University Fellowships: Many universities offer their own funding schemes with ties to specific faculties or open to all postgraduate applicants. Make sure to check out the university website!
• International scholarships: Don’t forget about global opportunities like Fulbright, Rhodes, Commonwealth, or Erasmus+. These programmes not only provide funding but also open doors to international networks!

Tip: Start applications early. Deadlines can be almost a year before the start date. Remember, it’s not only the stipend you should consider, but whether they also cover bench fees (science is EXPENSIVE!)

Also, don’t ignore smaller, niche awards; they may not cover everything, but they add up and sometimes are less competitive.

2) Research Assistantships and Teaching Assistantships.

Another major route to funding is through assistantships. These pay you to work alongside your PhD.

• Research Assistantships (RAs): You’re paid to work on a funded project, often connected to your supervisor’s grant. The upside is that this research usually overlaps with your PhD topic, so you’re getting paid to do what you already know!
• Teach Assistantships (TAs): You’ll support undergraduate teaching by running tutorials, marking assessments, or sometimes even giving a lecture. TAs earn extra money alongside their PhD stipend, and teaching experience looks great on your CV!

Tip: TA work can eat up time! Learn to balance; teaching one or two classes per term is manageable, but overloading yourself may slow your research progress.

3) Institutional and Charity Funding

Charities, NGOs, and professional associations are often overlooked, but they are an excellent source of PhD funding.

• Medical and Scientific Charities: Think Alzheimer’s Society, Parkinson’s UK, or the British Heart Foundation. They fund PhDs annually.
• Professional Bodies: Organisations like the Royal Society of Chemistry or the Institute of Physics frequently offer PhD grants, travel bursaries, and conference funds
• Sector-Specific Foundations: For social sciences or humanities, think of the Leverhulme Trust, the British Academy, or the Mellon Foundation.

These opportunities are more than just money, they provide access to professional networks, conferences, training and career support

4) Self-Funding (and Why It’s Tricky)

Some students do opt to self-fund their PhD. But let’s be real, it’s not easy. Not only do you have to pay tuition fees, when you add living costs, it’s a significant financial burden. Unless you have some SERIOUS savings, family support, or a reliable stream of income, this route can become stressful, fast.

Tip: If you do decide to go down the self-funding route, consider part-time enrollment to spread out costs, or apply for fee waivers and partial stipends.

5) Side Hustles to Support your PhD

Even with funding, many PhD students turn to side hustles to supplement their PhD stipend! The key is to find a balance so your side hustles don’t drain all your energy!

• Content creation and UGC: Yes, you can actually earn money by sharing your academic journey online! Instagram, TikTok, YouTube, and blogging can generate income through partnerships, affiliate links, or sponsored posts!
• Tutoring: Online tutoring in your spare time can be lucrative and surprisingly flexible! Bonus: it keeps your subject knowledge sharp!
• Freelance Work: If you’ve got a skill, writing, editing, data analysis, graphic design, freelancing can bring in extra cash. Websites like Fiverr can make it easier to get started!
• Campus Jobs: Think library work, student support roles, or mentoring schemes. They’re usually part-time, flexible, and very understanding of your academic commitments.

Tip: Be realistic. A side hustle should help you financially and mentally. If it drains you, it’s not worth it. Boundaries are your best friend here.

6) Budgeting and Money Management

Regardless of your source of income, finances during a PhD may be tight. Learning how to budget smartly can make your life a lot less stressful.

• Track your spending: Use apps like Notion, YNAB, or even Excel to see where your money goes! Awareness is the first step!
• Make use of Student Discounts: As a student, you’ll get a discount on basically everything! Software, travel, food, and even gym memberships! Take advantage of all of them.
• Save where you can: House sharing can reduce rent, and meal prepping can be a lifesaver for your wallet and your energy.
• Emergency Fund: If possible, build a small buffer. Even £200-£500 can make a huge difference when unexpected costs arise!

Tip: Treat budgeting like another experiment, you’ll need to adjust and troubleshoot!

Final Thoughts

Funding a PhD is rarely simple, but it’s far from impossible. Between scholarships, stipends, assistantships, and creative side hustles, there are more ways to make it work than you think! The most important thing is flexibility; sometimes you’ll need to combine different streams of income or switch strategies halfway through. And that’s okay! With planning, persistence, and resourcefulness, you can spend less time worrying about money and more time focusing on research!