Do you want to become an international student in the UK?
If so, you'll need to budget your finances!
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Lesson
Summary: |
One of the most important aspects of an international education involves finances. In our crazy economic times, students looking to study abroad need to be smart about how they spend their money. Luckily for you, the costs of studying in the UK are less expensive than most other places, including the USA, even for international students!
Your Costs:
Your major costs while studying abroad will include tuition, other education fees, and living expenses.
Sample Course Fees:
Undergraduate:| Foundation courses | £4,000 to £12,000 per year |
| Arts courses | £7,000 to £9,000 per year |
| Science courses | £7,500 to £12,000 per year |
| Clinical courses | £10,000 to £21,000 per year |
| Arts and humanities courses | £7,000-£9,000 per year |
| Science courses | £7,500-£12,000 per year |
| Clinical courses | £10,000-£21,000 per year |
| MBA | £4,000 to more than £30,000 |
Related expenses:
Costs of studies often include more
than just tuition. You'll have to pay fees such as an
"international student fee" and "student resource fees". These
normally won't add up to anything over £300, but it's a good
idea to check before you agree to come to a school. As well,
textbooks and course material (including a laptop or personal
computer, which is necessary in some courses, as well as special
equipment for medical, engineering, and similar courses) can be
expensive. These costs depend primarily on the school and course,
and can range from £500 to £2,500 and more.
Costs of Living:
The other major factor in your budget is the
cost of living in the UK. Costs vary considerably by location.
Around the London area, which is considered fairly expensive, you
may end up paying between £8,100 and £14,800 in total for a
9-month academic year. This includes accommodation, local
transport, food, entertainment, and other miscellaneous
costs.
If you're looking for less expensive alternatives, attending
universities outside of London and major UK cities will allow you
to live in a relatively inexpensive location. Costs can range
from £6,600 to £12,600.
Financial Advantages!
Less fees
Tuition fees and similar costs in the UK are
lower than in other countries. For example, US
course fees for an undergraduate arts program range from $10,000
to $20,000, or £7,000 - £14,000, while UK ones tend to range at
only £7,000 to £9,000 per year.
Another highly important advantage is course
duration. UK undergraduate (bachelor's-level) courses
are typically 3 years in length, compared to 4-5 years in Canada
or the US. Postgraduate programs are a year long in the UK,
instead of 2 years in the UK. This means you an save a full
year's tuition or even more by studying in the UK!
Keep in mind though that fees vary by institute, location, and
several other factors.
More scholarships
The British Council also offers
many
scholarships that can help you finance your
education. If you are not eligible for these scholarships, you
may be eligible for a student loan from the UK government. The
Student Loan Company, a part of the UK government, provides loans
to students at the local inflation rate, and serves over one
million students every year. You can find out about the company
here. There are also private
loan companies and banks that can assist you with student
loans.
You can find out more about UK scholarships
here.
And don't forget about LearnHub's Dream
Scholarship!
More information.
And other benefits
too
The UK offers additional benefits to
international students, as education and global involvement is
highly valued over there. A few examples include:
Healthcare is free! Full time international
students in programs longer than 6 months are eligible to take
advantage of the National Health Service in the UK. This is
extremely important, since in other countries like the US health
insurance can be quite costly.
Subject to certain visa requirements, you can
work up to 20 hours a week during term time and
full-time during holidays and breaks. This will help you fund
your studies as well as gain industry experience.
Other important details:
Proof of
funds
In order to obtain a UK student visa, you will
be required to prove the fact that you can pay for your stay and
your course of studies in the UK. Bank statements or payslips can
be used as proof. The amount of funds you'll need to show will
depend on your program, location, and other variables, and should
be outlined by your school. Therefore, it is important to gain
access to sufficient funds well in advance of school and visa
application deadlines.
Access to money
If you decide to study in the UK, you should
open a UK bank account, which may be done from home over the
internet or by phone, although you may need proof that you've
been accepted to study in the UK. You should pay your tuition by
bank transfer, since it's the easiest and safest method of doing
so.
It's also advisable to bring enough cash with you through
traveler's cheques when you arrive at the UK, to make sure you
have access to quick money should you need any. You should have
enough money on you to at least cover rent, food and supplies for
a while (week or month depending on your personal expectations of
problems). You can never be too safe.
For international education, money is an important matter!
Good luck on your quest towards
studying in the
UK
Sources: Education UK: Course Fees , British Council: Fees, accommodation, and expenses.
