Heh, some time ago a Cambridge guy told me they start in March. Guess he just wanted me to buzz off. Thanks for the more authoritative version! I'll calm myself.
As an aside, doesn't it bug you that most every college-based studentship requires that you have named that college as your first choice of colleges? As an American who isn't particularly hip to the differences between the colleges, the only decision-making basis I have is which one would offer me the most financial aid, and apparently I guessed the wrong one.