I was admitted to the MPhil masters program in "Advanced Computer Science" at Cambridge, UK, but unfortunately I wasn't offered a scholarship. I browsed the internet a bit, but as I'm not from England (though from the EU) I couldn't find any possibility of loans or studentships, that would cover the whopping 20000£ needed to cover fees and living costs for the 9 months the program takes.
Does anyone here have any experience what possibility for funding exist ? Cambridge, as it seems, of at most grant me a bursary which does not nearly cover theses costs.
Would it be a good idea at all to take a loan (supposing that that's possible) ?
Getting funding is usually the most difficult part.
There is some funding available available for MPhil programs (but not much - and they are very competitive). Most of it you would have needed to apply for with your course application (or before).
But check here and see if you qualify for anything.
Also check if your home country offers scholarships to study overseas.
I would strongly recommend not taking out a loan for it. It's not worth taking on the debt.