Apr 20, 2023
Numerous students discover that embarking on a journey to the UK for their higher education is an incredibly rewarding and transformative experience, both personally and professionally. The rich academic atmosphere, coupled with diverse cultural exposure, can provide an unparalleled platform for growth and development.
Although the total sum of tuition, living costs, and other related expenditures may initially seem like an obstacle, with careful planning and resourcefulness, these financial aspects can be managed effectively. As an international student aspiring to study in the UK, it is essential to have a comprehensive understanding of the associated costs, which can empower you to seek out opportunities for financial assistance, scholarships, and part-time work.
Embracing this challenge can lead to a newfound sense of independence and adaptability, allowing you to make the most of your UK academic adventure. With a proactive approach and an open mind, you will be able to harness the potential of the UK's esteemed educational institutions and truly reap the benefits of this life-changing experience.
In this article, we will cover all aspects of the financial planning required to pursue higher education in the United Kingdom. The topic of the UK's cost of living and how to manage the cost will also be addressed.
So, let's begin.
Table of Content
The cost of study in UK mostly depends on the tuition fees which vary depending on the level of study and the institution. In general, undergraduate courses are more expensive than postgraduate courses as the duration of study is longer. The average tuition fees for international students in the UK are as follows:
| Level of Study | Average Annual Tuition Fees |
|---|---|
| Undergraduate | £11,500 - £35,000 |
| Postgraduate | £11,500 - £40,000 |
| MBA | £11,800 - £60,000 |
It is important to note that these are just average figures, and some courses may be more expensive. For example, medical courses can cost up to £52,000 per year.
One of the aspects that is the most beneficial if you choose to study in the UK is many Postgraduate degree programs can be finished in one year of full-time study. The cost connected with a one-year master's program is typically lower compared to a conventional two-year master's degree. It provides the opportunity for quicker entry or re-entry into employment.
In addition to the cost of study international students also need to consider their living expenses. The cost of living in the UK can vary depending on the location and the lifestyle of the student. As a general guide, the following table shows the average monthly living expenses for an international student in the UK:
| Expense | Average Monthly Cost |
|---|---|
| Accommodation | £500 - £1,500 |
| Food | £200 - £300 |
| Transportation | £100 - £200 |
| Miscellaneous | £200 - £300 |
Accommodation is one of the biggest expenses for students in the UK. The price of accommodation differs based on the place and the kind of accommodation. On-campus accommodation can be more expensive than off-campus accommodation.
Food and transportation expenses can also add up. Public transportation is generally cheaper than owning a car in the UK.
There are extra expenses to think about if you plan on staying in the UK for longer than six months to complete your studies.
Having understood the cost of study, living and other expenses, let us now come to the good part, as to how the cost to study in UK can be better managed to fulfil your study abroad goals.
Scholarships are a great way for international students to reduce their financial burden while studying in the UK. Further, we will see the types of scholarships available for international students.
Most universities in the UK offer scholarships for international students. These scholarships are based on academic merit, and some may also consider financial needs. The amount of the scholarship can vary, but it can cover up to 100% of tuition fees as well.
Some government scholarships are for international students who choose to study in the UK. These scholarships mostly cover tuition fees, living and other expenses. Scholarships such as the Chevening and Commonwealth cover the entire cost of living and studying in the UK.
Note: Students should apply early and research all available scholarship options as it is essential to fall into the eligibility criteria. There is no doubt cutthroat competition for all these scholarships to study in UK, be it government-funded or university-based scholarships.
Another route to lessening the financial burden can be working part-time. International students are allowed to work up to 20 hours a week, and this is not limited to on-campus jobs only.
The compensation for part-time jobs in the UK for students varies depending on the number of hours worked and the specific role.
Let’s check the breakdown of Average Pay Rates. Since students often have limited availability, they may opt for weekend positions or roles that allow for shift work. Night shifts typically offer a pay rate that is 1.5 times higher than day shifts.
Part-time job earnings for students in the UK are typically deposited directly into their bank accounts on a weekly, bi-weekly, or monthly basis. It is crucial to establish a clear understanding with your employer regarding the payment schedule prior to signing any agreements.
Let's explore the average hourly rate in the UK, which varies based on age, as this will significantly influence the earnings of international students working part-time jobs.
*Rates are as per April 2024
| Age Range | Average Hourly Pay |
|---|---|
| 21 and over | £11.44 |
| 18-20 | £8.60 |
| Under 18 | £6.40 |
Note that the rates change every 1st April of the year.
Additionally, here are a few pieces of advice for International Students studying in the UK on how to save money.
You can save money as a student in the UK by doing a variety of things, such as thrift store shopping, purchasing split-fare railway tickets, taking advantage of student discounts, and receiving free or inexpensive grocery giveaways.
Here are our best recommendations for minimizing living expenses while you are a student so you can still take advantage of everything the UK has to offer and create lifelong memories.
There are a few options based on your age, but regardless of your age, if you are enrolled in a full-time school in the UK, you are eligible for the 16-25 (student) railcard.
So, you see, by planning ahead, researching scholarship options, and managing expenses, international students can make the most of their time in the UK and achieve their academic and personal goals.
For any further queries related to cost or anything related to studying in the UK, approach KC’s UK Experts and get all the answers you need.
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Ans: The costs associated with studying in the UK can include tuition fees, accommodation costs, and living expenses such as food, transportation, and personal expenses.
Ans: Tuition fees vary depending on the university and the course of study. The average tuition fees for international students are around £11,500 to £35,000 per year for undergraduate courses and £11,500 to £40,000 per year for postgraduate courses. MBA & Medical courses can be more expensive.
Ans: Yes, there are scholarships available for international students studying in the UK. These scholarships can be offered by universities and governments. Students should research the different options available to them and apply for scholarships that they are eligible for.
Ans: International students can save money by living in shared accommodation, cooking meals at home, using public transportation instead of taxis, and taking advantage of student discounts. They can also look for part-time work opportunities to supplement their income.
Ans: Yes, international students should be aware of additional costs such as visa application fees, health insurance, and travel expenses. They should also be prepared for unexpected expenses such as medical emergencies or flight cancellations. It is important to have a contingency plan and emergency fund in place.