In an ideal world, funding wouldn’t affect how much time a PhD student can dedicate to their research and thesis. Unfortunately, for many full-time, part-time, and distance-learning PhD students, funding is a primary factor in the duration of their studying.
Typically, funding and studentships will only cover PhD students for three and a half years for full-time students, while part-time students can expect funding for seven years at a rate of half the stipend. However, this depends on the program you have applied for, and who is providing the PhD funding.
For example, if you are a physical sciences or engineering student and your funding is being paid by the EPSRC, you will need to follow the timescale which is indicated on their length of PhD Studentship guidelines. Due to this timeframe, most students funded by the Engineering and Physical Sciences Research Council aim to complete their PhD within 3.5 years. Failing to complete the PhD within the 3.5-year timeframe could incur additional fees, which need to be independently covered.
Furthermore, several funded PhD positions and programs have additional components attached to the eligibility requirements that require PhD students to undertake duties such as undergraduate teaching, laboratory session hosting or attendance at conferences and presentations. Even though these additional conditions shouldn’t prolong the duration of your PhD to an excessive degree, they can marginally add to the time it takes to complete a PhD program. For PhD candidates with these kinds of studentships and funding agreements, it is vital to have exceptional time management skills.
Finally, self-funded PhD students can also feel constricted by their financial situations and feel the pressure to complete a PhD quicker than students who enjoy the security of attached funding. In addition to annual tuition fees, there are other associated costs and living expenses to account for. However, this isn’t always the case; some self-funded PhD students feel free to take their time to ensure their research is as valuable as possible.