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

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

Have you ever pictured yourself visiting the Big Ben? Studying at the ever so beautiful London? Or visiting the English countryside? Studying in UK can be a hassle considering the expensive costs attached with it, but there is no need to worry as we are here to make your dreams a reality, through our specially made funding options including scholarships within the UK, part time jobs in UK, and lots more. Keep reading as you would never want to miss out on all of it!

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

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

5 Ways to Finance your Study in UK

Studying in a foreign country can definitely take a toll on your pockets, and if that country is the UK, you, as international students, definitely need to manage your finances correctly, and planning is the crucial.

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

1. Personal or Parental Savings

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

A lot of students 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 to secure your place to a 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 these loans are eventually meant to be returned back to the university you’re applying to, after you’re done with your course or program.

Some universities may allow a partial loan to cover some of the 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 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.

  • 3. Scholarships and GrantsThere 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 Scholarships4. Part Time JobsBecause 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.

    5. Teaching and Research Assistantships

    You can fund your study in UK through research assistantships. This type of student finance in UK is for students who are pursuing a 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 fields such as nursing, healthcare, and others, NHS Funding for medical or dental courses, and funding through external organisations.

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

  • Frequently Asked Questions about Student Finance in UK

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 up to 20 hours a week, provided your university allows you.
How much would my personal expenses be while studying in UK?

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

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

 

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.

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