How to Finance your Studies in the UK?
The UK is a tremendously awe-inspiring country. What with Big Ben and beautiful, Victorian memorials, the oh-so-beautiful London bridge. More than this, the country’s elite, world-class universities differentiate it from the world and attractively invite students from all around the world.
However, studying in an extravagant country calls for a tremendous financial commitment. It is not always easy to fund your education by ordinary means. Let us have a look at the various ways you can fund your education in the UK and be a successful professional in your field.
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Cost of Studying in the UK
To first be able to plan on financing your education in the UK, you must be aware of how much it costs in the first place.
Here’s a table defining the cost of studying in the UK as an international student.
|Particulars||Cost (in GBP)|
|Bachelor’s degree tuition fees
Master’s degree tuition fees
|15,000 to 30,000 *
20,000 to 40,000
|Books and Supplies||45-100|
*Only the tuition fees are given annually, others are calculated monthly. According to this table, you will spend equal to 1,22,906 INR every month! That amount is ginormous unless you have some stability on your side.
How to Finance Your Studies in the UK?
There are several different ways you can finance your education in the UK. The first essential step is planning, and after that, with apt execution, it is only a ride uphill.
Given below are the 3 best ways to finance your education in the UK:
Most students use collected savings or get parental financial aid to fund their education abroad. This means that you can start saving at a young age and then use that amount to fund your education in the United Kingdom.
Another brilliant way of getting financial aid for your education abroad is by enrolling in student loans for the UK. Loan companies offer you funding based on the credibility and capability that you portray as a student. Then, after your degree is claimed, you yourself pay back the loans from your income with a set interest percentage.
Some universities allow partial loans, while in other cases students look for these loans from other companies.
The most common way of collecting funds for your education is by applying for scholarships. These scholarships are categorised into merit and need. Several universities have scholarships of their own, while others are provided by NGOs, governments, and other individuals. UK’s top universities give out scholarships worth as much as 30,000 GBP annually to its top students.
Here are a few scholarships in the UK offered to international students:
- Chevening Fellowships
- Young Cell Scheme
- A.S. Hornby Trust Scholarship
- Commonwealth Scholarship and Fellowship Plan
- Scotland’s Saltire Scholarships
The main part of funding your education abroad is by planning well before time. Calculate your expenses accordingly and seek professional advice tailored according to your profile and then decide on which way you wish to fund your education. It is advisable to first apply to scholarships, then student loans if possible, and finally, get a part-time job to make up for your living expenses in the UK. To know all about scholarships to study in the UK, book a FREE consultation call with Yocket Study Abroad Experts!