How to manage your money – Tips for international students in the UK

international students in the UK

Introduction

The United Kingdom is home to some of the top universities in the world, such as Oxford, Cambridge, Bath, Plymouth Marjon, Northumbria and many more. Every year, lakhs of students across the globe apply to study in the UK, hoping to enrol in a top university for their studies.

But before any student plans their education, it is important to understand the cost of studying in the United Kingdom. From applying to a chosen university to finding a comfortable place to stay and more, there are many costs associated with studying in the UK that one must factor in when considering an education there.

What are the costs like?

The cost of education in the UK can be broken down into two main categories, the cost of studying and the cost of living.

Admission fees for international undergraduate students vary between GBP 11,400 to GBP 38,000 per year, with an average of around GBP 22,200 per year. Typically, undergraduate courses  in the UK are three years long.

The next cost to factor in is the cost of living as a student in the UK. If you choose to live  independently, you can expect to pay around GBP 1,300 to GBP 1,400 per month for rent in a city like London. The rent is slightly lower in the rest of the UK, but good accommodation still costs between GBP 900  and GBP 1,300, and this covers your rent, bills, groceries and a wider range of your expenses.

Another cost to consider when applying as an international student to a course in the UK is your visa fees. The cost of a visa application is GBP 363 for students applying from outside the United Kingdom.

How to save on these expenses?

As a student, one needs to make savings where possible, especially in a country that is so far from home. The key for most students is spending smart and having a monthly budget in mind. Writing down your expenses, keeping track of them and ensuring you have enough money to get by is critical when living overseas.

The following are some ways in which you can make savings during your education in the UK:

  1. Buy from stores that offer off-season discounts.
  2. Get a part-time job that allows you to work 20 hours a week.
  3. Borrow books from the university library when possible.
  4. Eat at home as often as possible, saving on the costs of meals out of the home.
  5. Use public transport as often as possible, it is quick and efficient, and students get special concessions on passes.
  6. Find roommates to share your living space with. This drastically reduces the cost of living and frees up your budget.

In addition to all of these, Indian students can also benefit by applying to TheWorldGrad’s UK Year 1 Program to save on time, cost of living and education. This program allows students to complete up to 1 year of their undergraduate degree in just 6 months from home. Upon completion of the program, students earn credits and an OTHM Level-4 Diploma, both recognized by multiple top-tier universities in the United Kingdom.

How do I save with TheWorldGrad?

With the UK Year 1 Program, Indian students can massively reduce the overall cost of their education. This is possible as students have no living expenses until they progress overseas for the remainder of their degree. Moreover, they save time and incur just 1/3rd of their Year 1 tuition fees. Students can choose  from a wide range of Business undergraduate degrees and get started with the program directly with their 12th score, without  an IELTS score or a visa. This program also has the advantage of an intake every 2 to 3 months, giving students the maximum chances and flexibility of commencing the program. During the program, students can plan their visa application and financial expenses and complete other formalities as well.

Conclusion

Studying in the United Kingdom is a goal for  many Indian students, but one that can seem out of reach due to the associated costs. However, with the right planning, students can make savings while still having a world-class education. With the help of TheWorldGrad, students can even study from the comfort of home, adding further savings to the cost of their education while still offering equal opportunities when  progressing to the UK to complete their studies.