Seconded, you need a PhD to get funding. Actually the chief purpose of PhD(or any other type of degree) now (in my views, anyway) is just to put you on the map. So you can prove to people that you can do what you already did. Gone are the days when people actually did a PhD or degree courses to learn something new. Most of the times, specially in undergraduate studies, people could as well study on there own and just pay the fees to enjoy the university culture.
