Thankyou all so much for your advice. It really does help to get an insight from people who are currently doing a PhD.
I'm definately decided to study one now, and am feeling more convinced that staying at my current university is not only a convienience due to my commitments in the area, but also a great benefit to me whilst studying.
Thanks again =)

Thankyou all so much for your advice. Its really helped giving me an idea of what life is like when doing a PhD. I understand what you mean, about having a real interest in the research area rather than just doing it for the Dr title/career prospects etc, and I am indeed very interested, however a part of me was still worried about how I would survive financially for the three years, and whether I could manage comfortably not going straight into full time work. However, from what you've said the funding seems very similar to what I currently earn on placement, and being tax free I'm sure I'll cope fine :)
One other thing...is it common practice to do your PhD at another university rather than the one where you studied as an undergraduate?
I am tempted to move somewhere completely different, and get as much out of the experience as I possibly can, however I have commitments in my current area, and so it feels right for me to stay put. Any advice?

Hi, I'm currently on my industrial year and due to return to university in September to finish my Medical Sciences degree. Upon completion of this, I'm very interested in doing a PhD in cancer biology.
The thing is...I have no real idea of what life is like when doing a PhD? I mean is it very similar to doing a degree or more like full time work? Also...what is the funding like? ie how much is it on average and is it enough to live comfortably for three years? If anyone out there is currently in the process of doing a PhD, i'd really appreciate a little insight into what life is like!
I know many graduates insist on going straight into full time work, however I think i'd benefit more in the long term to further my education in a more specific field? Is this true?
Please help!!