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UK students now economic expats in search for cheaper degrees
| Published: | 30 Oct at 6 PM |
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An expat brain drain of Britain’s brightest and best looks on the cards as many thousands of students look abroad for their university in order to find an affordable degree course.
As a result of last year’s massive increase in UK university fees, Britain is now the fourth most expensive country in which to gain a degree, with Australia the most expensive, followed by Canada and the US. According to am HSBC Bank study, German universities are the cheapest per year, with a full year’s study in the UK costing almost four times more.
The study revealed that the total cost of a year’s accommodation, tuition and living costs at a UK university averages around £15,568, mainly due to 2011’s 56 per cent increase in tuition fees. Including a return flight costing £1,200, the total annual cost at a Canadian University is £15,671, only £100 higher than in the UK.
James Yerkes for HSBC said that the bank is receiving numerous requests for loans from many parents whose children have chosen an overseas university. He adds that, although many prefer an English-speaking destination, these are the most expensive, adding that costs are falling on the Continent and many European universities offer courses in the English language.
Yerkes believes that study in a non-English speaking country such as Germany will also result in graduates having a second language to offer potential employers. The cost of a degree in Europe has, on average, dropped 3.6 per cent since 2011, meaning that at German prices, a three year degree costs less than one year at a UK university, taking into account low inflation and favourable exchange rates.
As a result of last year’s massive increase in UK university fees, Britain is now the fourth most expensive country in which to gain a degree, with Australia the most expensive, followed by Canada and the US. According to am HSBC Bank study, German universities are the cheapest per year, with a full year’s study in the UK costing almost four times more.
The study revealed that the total cost of a year’s accommodation, tuition and living costs at a UK university averages around £15,568, mainly due to 2011’s 56 per cent increase in tuition fees. Including a return flight costing £1,200, the total annual cost at a Canadian University is £15,671, only £100 higher than in the UK.
James Yerkes for HSBC said that the bank is receiving numerous requests for loans from many parents whose children have chosen an overseas university. He adds that, although many prefer an English-speaking destination, these are the most expensive, adding that costs are falling on the Continent and many European universities offer courses in the English language.
Yerkes believes that study in a non-English speaking country such as Germany will also result in graduates having a second language to offer potential employers. The cost of a degree in Europe has, on average, dropped 3.6 per cent since 2011, meaning that at German prices, a three year degree costs less than one year at a UK university, taking into account low inflation and favourable exchange rates.
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