UK-Managing Finance

Course and Living Expenses
Fees for UK college and university programmes are generally lower than in the US and Australia. UK degree programmes last three rather than four years, so you save a whole year’s worth of fees and living costs. Postgraduate Master’s courses are also shorter, lasting only one year compared with two in the USA and Australia. But of course you will want to be clear what scale of investment is needed before you commit yourself.

The fees you pay to attend independent school include your course fees, accommodation and may include some or all extracurricular activities, but it's to check exactly what is included with the school. You may be asked to pay extra for language tuition. Fees vary from school to school and are at the discretion of the institution; there are no national standards. You should expect to pay a minimum of £4,000 per year and fees can be as high as £25,000 for an MBA program.

There is very little financial aid in the UK for international students. Some universities may give students with good or exceptional backgrounds, a part tuition fee waiver. Some universities give discounts of 1000 - 1500 Pounds to students with good academic backgrounds. Financial assistance and scholarships are available and it is worth finding out early on in the process what you will be able to receive.
There are a some scholarships especially for postgraduate and research studies. Information about these scholarships is available on respective university websites.. For a list of the available scholarships you can refer to the following link: http://www.britishcouncil.org/india-scholarships.htm

Cost Calculation
Do remember that you won’t be entitled to the main UK state benefits if you have financial difficulties, so you must be absolutely sure that you can support yourself financially.

If you are from a European Union (EU) country, you may qualify for ‘home’ fees (the fees charged to UK students – from 2006, up to £3,000 a year for a degree). The following are examples of average tuition fees for international students who do not qualify for reduced ‘home’ fees:
 

Average cost of Courses
English language: £150–£300 per week
Vocational (pre-degree level): £3,300–£4,150 per year

Undergraduate level
Arts, business, social science courses: £7,000–£7,900 per year
Science (lab based): £7,000–£10,400 per year
Clinical
: £17,400–£18,710 per year

Postgraduate level
Arts, business, social science courses: £5,000–£12,000 per year
Science: £6,500–£10,000 per year

Living Costs
London and the southeast of England are going to be the most expensive areas to live in with some of the larger northern cities, like Edinburgh, Manchester and Leeds, coming close behind.You should allow about £7,750 to £10,000 a year for your living expenses.

Here are some of the things that you should budget for and their average prices.

According to a survey by the UK’s National Union of Students (July 2005), the average expenses are:
• Student accommodation: average outside of London is £57 per week; inside London £80. There are different types of accommodation you can choose from: self-catering halls of residence £180 to £360, catered halls of residence £320 to £400, private-sector room in shared house/flat £200 to £380.
• Bills (except in halls of residence where they are included in the rent): average is £21 per week.
• Food/household shopping: Apart from in catered halls, is about £100 to £120 a month. Try to make savings by buying in bulk with any other students you live with. Supermarkets are convenient but may not actually that much cheaper than many smaller shops or markets.
• Clothing: average is £12 per week.
• Household goods (including laundry): average is £8–12 per week. Many shops offer UK students a whole range of discounts on items such as clothes, books, drinks and events.
• Course costs (books, stationery, any specialist equipment, photocopying of course materials): average is £14 per week in London, £8 per week outside London.
• Travel (this will vary a lot depending on where you are living and how much you travel around the UK): average outside London is £15 per week; inside London £18. special student fares are often available on buses and trains.
• Social activities: average is £38.Theatres, cinemas, museums and galleries offer special reductions for students.

 

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