The Browne Review which led to undergraduate fees going up to £9,000 p.a. said nothing about how graduate education should be funded.  In line with other areas of government expenditure the existing funding for graduate masters and doctorates has been cut over the last few years.  Today undergraduates leaving with a huge debt from their first degree  can't consider staying in university for a masters or doctorate because there is so little funding available.  That means that few without independent means can study for higher degrees, and so academic recruitment will be increasingly restricted when what the UK really needs to be doing is investing in talent. 

In the long term Hertford wants to do something about this by creating its own graduate school of fully-funded graduate places.  In the short term we desperately need to raise funds for graduate scholarships.  £1,000 might not sound like a lot given the debt undergraduates labour under, and the cost of graduate tuition and living expenses.  However, Hertford's ability to award such scholarships might show just enough confidence in a talented student that they'll be persuaded to stay on and so start on the path to becoming the researchers and lecturers of the future.