The Cambridge Bursary Scheme at Magdalene

The cost of a Cambridge education continues to rise, and the University and the Colleges have increased efforts to provide funding for all qualified students in need of financial assistance so that anyone able to study here can do so. Collegiate Cambridge has always been committed to ‘needs-blind’ admission, thereby admitting the most qualified students regardless of their financial status.

Here at Magdalene, we have been very fortunate in that we have been able to raise sufficient funds for the past four years from Members equally committed to the idea that no one should be deterred from coming to Magdalene because of financial reasons. The first cohort of undergraduates supported by the generosity of Members via our Bursary scheme graduated in June this year and we are delighted that almost all graduated with a First or 2.i. Indeed, many of them credited their bursaries as being one of the vital elements of their academic success as they were able to focus on their studies unfettered by financial concerns.

The maximum maintenance grant available to students from families with an assessed income of £25,000 or less is £3,387 this year and every one of our qualifying students (on the basis of the national guidelines regarding family income) is awarded an enhanced named Cambridge Bursary worth £4,500 per year. The living costs for the academic year (30 weeks) are estimated to be in the region of £7,500 – £8,000 per annum and include charges for accommodation, kitchen facility charges, College meals, transport costs, study materials and personal expenses. The University actively discourages its students from working during term-time as the work load during the 8 week terms is heavy and students are expected to participate in the wide range of extra-curricular activities on offer in their Colleges and the University.

Our scheme allows the recipients to cover their living costs for the full academic year without having to take on the additional burden of maintenance loans on top of tuition fee loans which will result in new graduates starting their working lives with debts in the region of £27,000. Without the bursaries Magdalene is able to offer, that debt would spiral to over £50,000 in total, the possibility of which we believe to be a very real deterrent for those who come to us from modest backgrounds, who are perhaps the first in their family or the first in their school to attend University or indeed Cambridge.

We are delighted that our scheme, introduced in 2012 in response to the changing nature of HE funding, has not only resonated with Members in such a way as to enable the College to offer full funding for every eligible student, thanks to their generosity, but has also allowed us to attract the very brightest from so-called non-traditional backgrounds to come to Magdalene.

We offer a range of bursaries of which the most generous, worth £4,500 per annum, are awarded to students for the duration of their undergraduate studies. These bursaries are often named by the donors, and individual Members who choose to support one student in this way receive an annual report from ‘their’ student. These reports make great reading and clearly illustrate the need for our bursary scheme:

...the cost of living has risen whilst Government support remains the same. I cannot see how I would have been able to afford living in Cambridge without your support.

I am certain that... I would not have been able to dedicate so much time and effort to my work if I did not have the financial security that you allowed, so I thank you again and hope that one day I might be in the position to give such support to others.

...the course [editor’s note: medicine] is pressured and can be difficult and due to your support the issue of finance never arose to hinder my progress.

I feel incredibly grateful not only to be studying something I am really passionate about in Cambridge, but also to be financially supported through my 3-year degree thanks to the generosity of the bursary scheme and those who support it. Coming from a single-parent family, one of my main concerns before starting University was the cost of living away from home...

The bursary I was generously granted has helped this year both directly (buying academic books etc.) and indirectly, because it has meant I haven’t had to get stressed over money matters, thus allowing me to focus completely on my studies and other interests. I cannot stress enough the gratitude I feel to the donors who made this possible, without whom my experience at Cambridge would have been very different indeed.

Being the first in my family to ever attend university, I wasn’t sure what to expect when I arrived at Magdalene College... receiving a bursary... I have been able to purchase a bike and a new laptop I otherwise would not have been able to afford... the bursary helped remove any stress associated with money and allowed me to concentrate on my exams.

I am without a doubt that my attainment of a First Class degree overall would have been much more challenging, if not impossible, without the financial relief the... Bursary has given me.

Our Tripos results this year speak for themselves and we are certain that the generosity of our Members in funding this scheme has played a part in our academic success. Thank you.

Please contact the Director of Development, Corinne Lloyd, if you are interested in learning more about our named bursary scheme. director.development@magd.cam.ac.uk

www.magd.cam.ac.uk