Studying in the UK is good value for money – average costs here are lower than in both the USA and Australia. Additionally, UK graduates are amongst the most employable in the world (according to the QS annual employer survey). This means your investment is likely to result in a successful career.
Still, investing a considerable sum in your education can be a difficult decision. Here are some details on the type of budget you are going to need to study in the UK.
Fees for UK courses vary depending on your study level and where in the UK you are studying.
International students can expect to pay between £8,000 and £53,000 annually, and typically an undergraduate degree course will last for three years. Medical degrees may cost more, and many UK master’s degrees can be completed in one year, meaning lower living costs and faster entry into employment.
Check the cost of course fees with the University or college you are applying to. Most often, this information will be listed on their website or check with one of the Nirvana counsellors who should be able to help you.
You should start planning your finances from the day you decide to study abroad (UK or any other country). Below is what you need to be ready with at different stages of your application process. Your Nirvana counsellor will guide you throughout the process.
1) Conditional offer letter – Most of the students receive a Conditional offer within 2-4 weeks of submitting application to the chosen university. One of the common conditions that U.K universities request student to satisfy is to make part payment of the tuition fee. Typically, this will be between £3000 - £5000.
Beware: Never pay tuition fee to any of the agencies or through someone else’s credit card. Always pay tuition fee directly to the university bank account (usually highlighted in the conditional offer letter or university portal).
2) Unconditional offer letter – Once all conditions are satisfied, university issues an Unconditional offer letter with 1-2 weeks. At this stage you are expected to prove that you have funding available in one of the below forms to cover your outstanding tuition fee AND living expenses.
a. Funds through Bank Loan – Loan letter
b. Funds in Savings or Current Accounts – Latest bank statement showing that funds are in the account for the last 30 days as a minimum
c. Fixed deposit – FD letter highlighting that it is atleast 30 days old
3) Confirmation of Acceptance of Studies (CAS) letter – Once university is satisfied that you have sufficient funds to cover your tuition fee and living expenses, CAS is issued within 1-2 weeks. This is the key document that will enable you to apply for your student visa.
4) Visa application Fees for your UK visa application ranges from £348 - £475 depending on where you are applying from (outside UK or inside UK to switch). Students are also expected to pay immigration health surcharge (IHS) of £470 per year for the duration of their visa.
5) Pre-departure – You will have a number of expenses to consider before you depart for UK. The main ones you need to plan your finances for are:
a. Book accommodation – Your Nirvana counsellor can help you with university accommodation booking. If you are going private, please ensure that you have done your due diligence before you make any deposit payments. Advance or deposit payment usually ranges between £350 – £1000 depending on location and type of accommodation you are going for.
b. Flight booking – Depending on time of the year you are flying, a one-way ticket could range from £250 - £600.
c. Shopping – Well, it’s understandable to be very excited at this stage, however, remember that the UK is a multi-culture nation and you will get almost everything you might get in your home country. So, it’s completely down to you on how much you want to splash on at this stage!!
The National Union of Students card and the International Student Identity Card offer great student discounts in many shops, restaurants and businesses. Have a look to see if you could save money with one of these cards.
Check out VisitBritain for lots more UK student discounts.
Use the Which? student budget calculator to help you plan your budget
You can expect to pay £500 – £1,300 a month, to cover accommodation, bills, food and other living costs.
For example:
• around £20-£30 for the weekly shop
• from £30 a month for travel
• from £10 a month for a mobile phone contract
• around £2.44 for a cup of coffee, from a high street café
• around £40 a month for a gym membership
Costs differ depending on where you live in the UK and how much you want to spend. London and other major cities are more expensive.
If you have a scholarship or financial support, make sure you know what is and isn’t covered.
Which? University has a student budget calculator to help estimate the cost of living in different areas of the UK. Select your university or prospective place to study to get an idea of all costs, from accommodation and bills to clothing, interests and hobbies.