[[IMMERSIVE]] PhD in doubt

"Dear Roderick,

Thank you for applying for the postgraduate studentship in the Department of Theatre Film and Television at the University of Wales, Aberystwyth.

Unfortunately you have not been awarded a scholarship, but you have been placed on our reserve list (3rd reserve). In the event of one of the scholarships becoming available before the end of August we will contact you again.

Although you have not been awarded a scholarship in this round, we would encourage you to establish contact with the department, with a view to developing your project for applications to the next round of grant awards offered by the university, the Department and the AHRB. If you wish to do this, please ring..."

I learnt yesterday that my bid for funding for my PhD has been unsucessful. The implications of this is that it is unlikely that I will be able to embark on it because it is not possible to fund myself. It is too early as yet to predict a definite outcome, as to what this means - something may come up to change matters - but the news has obviously put somewhat of a crimp in my plans. I am not going to get too depressed about this, (when one door closes another one opens and all that) and I think I will continue to read Being and Time and offer my comments here, if only because I like the intellectual stimulation of the challenge.
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Update...
Ok after getting a bit depressed about this and pondering my options, I came to the conclusion that there was nothing I would rather do than a PhD. Thanks to the support of my wife Rachel, some unexpected work and some compensation due for being in a car crash a few years ago, I can now continue with the PhD.