Studying in the UK can be one of the most rewarding things you will ever do. However, studying abroad can be an expensive affair for students. This is why an efficient budget plan can help you manage your living expenses more effectively. In this article, we will help you understand what you should consider before applying to a UK university.
What is the cost of getting a UK degree?
University Fees for UK courses vary, depending on your study level and where in the UK you are studying. Apart from the tuition fee, there are other factors to consider when moving to England, like living costs, accommodation, and if applicable, student visas.
So how much does going to university actually cost? The short answer is "it depends." But what exactly does that mean? Keep reading to find out.
The cost for Home Students
By 'home student', we mean someone who is British, has pre-settled or settled status and is a UK resident that is currently living in the UK.
In 2021, tuition fees for a Bachelor's degree are £9,250 per year. If you are planning to study in a college you should be prepared to pay £6,000 per year. Prices are reviewed every year so you expect this figure to change.
Living costs depend on the city you choose to study in. London is highly desired but also the most expensive, averaging about £12,000 per year. In other cities, like Birmingham and Manchester, it's closer to around £9,000 per year.
If your course duration is 3 years, you may need at least £60,000 for your study and living costs. So how can "everyone afford to study" as they say?
Student Finance England
Fortunately for Home Students, this is where the government fund Student Finance England comes in. There are two types of loans available: one which pays for the course (Tuition Fee Loan) and another which pays for your living expenses (Maintenance Loan). You can apply for one or both, although each has its own criteria to meet. This is why you should check if you are eligible for these funds.
You only start paying back a student loan once you earn above a certain amount. In 2021, this is around £27,000 per year. It should be noted that the average salary is less than that. The debt also ends after 30 years, regardless of whether it was paid back or not.
UK student finance is not available for international students. This means you will have to find another way to finance your education. Many seek scholarships but this requires a sponsor and an outstanding education history.
The cost for international students
Tuition fees for a Bachelor`s degree may vary between £12,000 and £18,000. An MBA at Oxford could easily soar close to £50,000.
If your English is not good enough to start immediately your course, you'll be offered pre-sessional English, which is between £1,000 and £6,000 depending on the number of weeks you need to do.
Living costs are the same as home students, which is about £12,000 per year in London or £9,000 per year outside of London.
Accommodation in the UK could be quite pricey, especially if you are looking for high standards. Students can choose from different types of housing while studying. They can live on their university campus or in a private student residence, homestay, or shared flats. The fees can vary from £77.25 to £415 per week.
And lastly, international students must obtain a student visa. In 2021, this is £348 if you are applying from outside of the UK, or £478 if you are extending/switching an existing visa from within the UK.
Navigating all of this can be hard, so it helps to have an agency to support you. Some education consultants can charge outrageous prices. UNI Britannica keeps costs reasonable because we know you're already spending a lot. Learn more about our fees.
Interested in studying in the UK?
UNI Britannica Ltd is a registered British education agent with an incorporated number: 11538246. We are accredited by a number of UK universities to represent their programmes around the world and we have to offer over 200 undergraduate and postgraduate courses to choose from. Book a free consultation or browse our catalogue and learn more about us and our services for Home and International students.