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How to Finance Your Studies in UK: Best Ways to Fund Studies in UK for International Students

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Yocket Editorial Team
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Have you ever pictured yourself near Big Ben? Studying at the ever so beautiful and sprawling London cafes? Or visiting the English countryside? Studying in UK can be quite a hassle considering the expensive costs associated with it, but need not worry as we are here to make your dreams come alive, through our specially curated funding options including scholarships in UK, part time job in UK, and lots more. Keep reading as you would never want to miss all of it!

Table of Contents:

Cost of Studying in UK: How much will you spend in UK?

The cost of attendance of studying at any university in the UK is a cumulative expense of both, the tuition fee along with the cost of living.  For a bachelor’s program in UK, the tuition fee ranges from £15,000 to £30,000 for international students. Whereas, the tuition fee lies approximately between £20,000 to £40,000 for international students willing to pursue a masters study program. The average cost of living for an international student lies at £15,000 per annum.

Let us bifurcate all the costs for studying in the UK below:

Expenses

Cost per month (in GBP)

Accommodation

680-810

Meal Plans

290-410

Personal

135-260

Recreational

45-120

Books and Supplies

45-100

Miscellaneous

20-55

Total

1215-1755

Therefore, if you are looking to study in the UK, the living costs may add up to in the range of £10,000 to £15,000 for approximately 9 months. And now, let us make you aware of all the funding options available to you for studying in the UK.

Suggested: Complete breakdown of cost of studying in UK

5 Ways to Finance your Study in UK

Studying in a foreing country can definitely take a toll on your pockets, and if the country is the UK, you, as international students, definitely need to manage your finances better, and planning is the key.

And therefore, we bring you some options related to student finance in UK below:

1. Personal or Parental Savings

If you are someone willing to study for a masters or PhD in the UK, you can start saving up right away at your bachelor’s level, in order to save something for your studies in the UK.

A lot of students also take up their parents’ help through parental savings in seeking funding for their study abroad. You can showcase your parent’s income through a bank statement in order to secure a place at your desired university in the UK.

2. Students Loans

Student loan in UK can be of many types including tuition fee loans, and maintenance loans. All of these loans are supposed to be returned back to the university you are applying to, after you’re done with your course or program.

Some universities may allot a partial loan to cover some of your university costs, while others may provide you with a complete amount to fund your studies in the university.  A maintenance student loan in UK takes care of your living costs in UK.  Two other types of student loans available are:

  • Secured student loan: This particular type asks for a tangible or an intangible security as collateral, these loans are quite advantageous as they do not demand repayment during the study period, and have lower interest rates.
  • Unsecured student loan: The unsecured student loan on the other hand does not ask for any collateral but has a complex process and higher interest rates. Also, some repayment can be asked during the study period itself.

Suggested: How to get a student loan for international students in UK

3. Scholarships and Grants

There are numerous scholarships in UK available for international students to choose from. These include need based or merit based scholarships. Scholarships in UK can be applied to, through a specific university, a governmental or a non-governmental organisation.  Some top universities in UK like Oxford University, University of Cambridge, University College London, are seen providing international students with grants and scholarships upto £30,000 per annum.

Given below are some popular scholarships in UK for international students:

  • Cardiff India Scholarships
  • Inlaks Scholarships
  • GREAT Scholarships
  • Chevening Fellowships
  • British Council Scholarships for Women in STEM
  • Charles Wallace India Trust Scholarships

4. Part Time Jobs

Because of the relaxation of rules pertaining to the UK work visa, it has become easier for international, specifically Indian students to get hold of a part time job in UK. At the degree level, you can work for a maximum of 20 hours per week, provided you have a full term visa for your study period.

A part time job in UK for areas like marketing, accountancy, healthcare and education is considered to be more rewarding.

Suggested: Ways to fund your Foreign Education

5. Teaching and Research Assistantships

You can even fund your study in UK through research assistantships. This type of student finance in UK is for students pursuing higher education in the form of a PhD degree or any other related PG degree in UK. students are usually compensated based on a fixed number of hours, a set salary or a fee waiver through scholarships.

6. Additional Funding Options

Other options for student finance in UK include travel grants for specific periods, grants for particular fields like healthcare, nursing and others, NHS Funding for dental or medical courses, and funding through external organisations.

Umpteenth number of benefits are available in terms of diverse culture, placements, industrial experiences and job opportunities in UK. We would recommend you not to find finances as a constraint, as there are many options to consider when looking for funding your study in the UK.

This video covers all aspects of financials incurred in the UK, along with ways to finance your education abroad!


Frequently Asked Questions about Student Finance in UK

  1. Can I get a part time job while studying in a UK university?

Ans. Yes, you can get a part time job in the UK for upto 20 hours a week, provided your university allows you.
  1. How much would my personal expenses be while studying in UK?

Ans. Your personal expenses can somewhere lie between £135 to £260 per month.

  1. What are some of the funding options to study in UK?

Ans. Some of the most basic funding options are:

  • Scholarships
  • Grants
  • Student loans
  • Work while study options
  1. Which universities offer scholarships for international students?

Ans. Almost all of the top universities in the UK offer scholarships to international students. Some of those top universities include King’s College London, University of Glasgow, Oxford University, Cardiff University.