More than 400,000 international students travel overseas every year to study in the UK.
Thanks to its top examination procedures, globally recognized degrees, top-notch universities, and a wide range of study programs to choose from at Bachelor’s, Master’s, and Ph.D. levels, it has been the favored decision for studying abroad for Indian students
Studying in UK offers countless career opportunities to the Indian students that they might not have by staying in their home country.
Also, UK degrees ask for less effort and time from the students as the duration for UK universities‘ courses is significantly lesser compared with other nations.
That also means that your educational expenses will be lower.
Studying in Uk offers you multiple funding options as well. Around 20,000 international students get financial help from the UK every year.
Now, if you have made up your mind about studying in the UK, you might be concerned about your spending plan in the UK.
So here is a guide for you comprise of all of the relative expenses you will incur during your stay in the UK.
Cost of studying in the UK
No doubt that studying abroad is indeed expensive be it in any country. But with a proper strategy and budget management, anyone can achieve it.
The overall cost of studying in the Uk covers educational and accommodation expenses. Also include utility bills, food expenses, traveling expenses, taxes, visa costs, insurance plans, etc.
Following are the estimates of each of the expenses mentioned above:
Educational expenses are a significant part of the overall cost of studying in the UK for Indian students.
The educational expenses per student vary depending on the university or the city you study in and the course you apply for.
The average educational expenses for undergraduate courses for Indian students can undoubtedly go from ₹7,00,000 – ₹27,00,000 per year.
However, the educational expenses for postgraduate courses and professional degrees will be costlier, like MBA, engineering, and clinical degrees. On the other hand, courses like humanities, arts, and instruction courses are less expensive.
At the postgraduate level, the average educational expenses for Indian students will range between around ₹10,00,000 – ₹30,00,000 per year.
Also, as stated above, the overall educational expenses at UK universities will be quite affordable and lower than other top study-abroad destinations because of the shorter duration of courses.
Accommodation expenses are another essential expense that you can’t ignore if you want to study abroad.
Following are the two types of accommodation you will have to choose from to stay in the UK:
- College Accommodation: Many Uk universities offer on-campus residences or hostels for international students. Here you will have the catering services along with the accommodation, and you will be free from the burden of other accommodation expenses like electricity, water, internet, etc.
- Private Accommodation: Another option is to rent a private apartment somewhere near your college area. You will have to cook your food, and you will also have to bear other expenses like the water bills, electricity bills, internet, etc.
The accommodation expenses vary from one city to another. For the most part, the average accommodation expenses range between ₹31000 – ₹49000 each month. These expenses can increase in various urban areas in the UK like London.
Also, the campus residencies are more affordable than private accommodation, which is why most students prefer staying at college hostels for their 1st and second-year to lower their burden.
Now comes the living expenses, which incorporate your food expenses, travel expenses, stationery, books, entertainment, and other utilities. Living expenses depend on the way of your lifestyle and the city you are staying in.
In traveling, metros are the least expensive approach to go in and around the UK.
For Short Distances, you can consider traveling in tubes, local trains, and buses, etc. These are the most affordable options if you get a month-to-month pass to travel in trains and buses, etc.
On the other hand, for Long Distances, like from one city to another, it is ideal to benefit from the railways, airplanes, an intercity bus, etc.
The expenses on food will cost you around ₹7,000 – ₹9,000 each month if you cook at home and about ₹20,000 months in case you order from outside or eat at restaurants, etc
Now, you will incur many other essential expenses during your stay in the UK like electricity, water, gas, internet, and so forth or other fundamental utilities like books, stationery, clothes, etc. All together will cost you around ₹6,000 – ₹11,000 each month.
Now it is very obvious that you can’t live without your social life abroad and for that, you will have to participate in many kinds of social activities.
The expenses incurred on activities like entertainment and fun can cost you around ₹4,500 – ₹23,000 each month.
Now to study abroad, you very well need a student visa. And to get a student visa, you will have to pay some amount in the form of visa fees.
An Indian student needs a Tier 4 visa to study in the UK. The following Visa prerequisites request that educational expenses for the first scholarly year should either entirely settle at the same time or the proof be submitted demonstrating that you have adequate financial assets to cover the educational expenses of the first year.
You need to submit proofs to demonstrate that you have reserves adding up to 9 months worth of living expenses of around ₹90,000 each month.
Taxes and insurance
Now, many students do part-time jobs while studying in the Uk to deal with the UK’s day-by-day living expenses.
All International students studying in the UK are allowed to work for 20 hours every week on their school days and full time during vacations.
Now, if you do a job in Uk, you will be liable to pay the National Insurance if you are earning more than INR 16,458 per week. Also, you will have to pay an income tax if you are making more than INR 1,03,300 per week.
Your employer will generally deduct Income Tax and National Insurance from your wages.
Also, being an international student in the UK, you have to get yourself an insurance plan which will cost you around INR1,400-2,300 per month.
Funding options for studying in Uk
Studying in the UK comes with various financial benefits, like grants, awards, internships, part-time jobs, shorter courses, etc.
A vast scope of grants or awards to study in the UK likewise offers public authority, private universities, autonomous associations, and different foundations.
The Education UK website gives an outline of grants accessible from the British Council and different associations. You can also check the universities official websites to check the various funding options they offer to the students
Indian students can likewise get monetary assistance when studying in the UK, like grants, awards. Also, the students can apply for various part-time jobs to help them cover their overall expenses of studying in the UK.