Everyone wants a degree from a reputable university. While the US is popular with students around the world, in terms of expenses, studying in the UK is actually more affordable than in the US. The programs are shorter, the returns are great and living expenses are manageable too.
We take a look at what it costs to get an undergraduate or graduate degree from the UK. Typically, the tuition fee for these degrees ranges from £12,000 to £19,000. Your living expenses are going to be somewhere between £900 to £1,200 per month. This is subject to the area you are staying in, whether it’s in or out of London. But here are some benefits specific to studying in the UK.
More for Your Money
This is crucial when it comes to any purchase but especially education. Unless you are from the UK, this is a great way to gain international exposure and travel across Europe. You will also meet people from across the world. Those interactions cannot be bought. Now, many students are worried about student loans.
Accommodation
If you apply well within the deadline, there is a higher chance of getting on-campus accommodation. This typically costs from £60 to £170 per week. Some universities also provide internet, gym membership, separate bathrooms and even a cleaning service. So, you don’t have to worry about any of that. But you need to double-check the services that may require extra payment.
The price and quality of city housing depend on the location. If you choose to do this, remember that rent does not cover any of the benefits mentioned above. Landlords are also likely to ask for 3 to 12 months of rent upfront as a security deposit.
Other Expenses
Take into consideration the cost of learning materials and equipment. Whether stationery, books, or a laptop. Also, keep in mind any travel costs you will incur and the cost of entertainment in your free time and recreational activities such as sports or the gym.
Working as a Student
We understand that affordable is a relative term. It depends on where you come from and how much you can afford to spend. So, it is natural that some students may want to get a job while studying to help with expenses.
There are a lot of scholarships for international students applying for undergraduate and graduate programs. These range from £1,800 to £8,000. While that might not cover the entire tuition fee, it makes education affordable. In fact, for British universities, you need an offer letter to even apply for a scholarship. So, here’s what you can do.
Student Loans
Loans take some planning and are very much a long-term solution when you are done with your studies. We cannot help you with this one in terms of specifics because it depends on your country of residence. But we can tell you that you must check out all loans, personal financing, and scholarship options before you land in the UK.
Find a Job
Not only will a job provide you with an income, but it also helps keep your CV bright and shining once you are ready for the world of full-time employment.
International students are allowed to work for 20 hours every week. Typically, that will earn you £7.50 to £9.00 an hour. Every university has a careers center that can help you out with part-time jobs or you can look for jobs yourself locally.
Bottom Line
Financial planning for studying in the UK is actually quite easy. But you must do enough homework about your expenses and the things you are willing to do to save and maybe even get a job to help pave your way. Hopefully, the above advice will come in handy.