Are you planning to pursue a Masters degree in the UK? If yes, then you might be wondering how much it will cost you and how to manage your budget effectively. Studying abroad can be an exciting and rewarding experience, but it also comes with ch allenges and expenses. In this blog post, we will provide you with a complete guide on the cost of doing a masters degree in UK and some tips to optimize your spending while studying in the UK.
Major Components of Costs when Studying Abroad
The main components of costs when studying abroad are tuition fees, living expenses, travel costs, and visa fees. Let’s look at each of these in detail.
Tuition Fees
Tuition fees are the amount you pay to the university for your academic program. Tuition fees vary depending on the course type, the course duration, the university, and your nationality. Generally speaking, a classroom-based, taught program like an MA will be the cheapest type of Masters degree on offer.
According to the 2021-22 Reddin Survey of UK postgraduate fees, published by the Complete University Guide, the average cost of studying masters in UK for a domestic student on a full-time, taught course is £8,740. The average cost of masters in UK for international students is almost twice as expensive, at £17,109.
However, these are broad averages and the actual fees may vary from course to course. For example, the cost of masters in public health in UK may be different from the cost of doing masters in UK in engineering or business.
Living Expenses
Living expenses are the amount of money that you need to cover your basic needs, such as accommodation, food, transport, utilities, clothing, entertainment, and other personal expenses. Living expenses vary depending on your lifestyle, location, and preferences. For example, the cost of studying masters in UK in London will be higher than the cost of studying masters in a smaller city or town in UK.
Travel Costs
Travel costs are the amount of money that you spend on travelling to and from the UK, as well as within the UK. Travel costs depend on the distance, mode, and frequency of your travel, as well as the season and availability of discounts. For example, the cost of studying masters in UK for Indian students will include the airfare from India to the UK, which may vary depending on the airline, route, and time of booking.
To save money on travel costs, you can look for cheap flights, trains, buses, or carpooling options. You can also use student discounts, travel cards, or loyalty programs to get lower fares. You can also plan your travel in advance and book your tickets early to avoid peak prices.
Visa Fees
Visa fees are the amount of money that you pay to the UK government for your student visa application. Visa fees vary depending on the type and duration of your visa, as well as your nationality and location.
For example, the masters in UK cost for a non-EU student will include the visa fee of £348 for a standard Tier 4 (General) student visa. To avoid paying extra fees, you should apply for your visa online and pay the fee in your local currency.
You should also check the visa requirements and documents carefully and submit your application well before your intended date of travel. You should also keep track of your visa status and follow the instructions from the UK Visas and Immigration (UKVI) office.
Tips to Optimize Your Budget when Studying in the UK
Now that you have an idea of the major components of costs when studying abroad, here are some tips to optimize your budget and spend efficiently while studying in the UK.
Apply for Scholarships and Grants
One of the best ways to reduce your costs when studying abroad is to apply for scholarships and grants. There are many scholarships and grants available for international students who want to pursue a Masters degree in the UK. For example, the scholarship for masters in UK for Indian students include the Chevening Scholarships, the Commonwealth Scholarships, the GREAT Scholarships, the British Council Scholarships, and the UK-India Education and Research Initiative (UKIERI) Scholarships.
Work Part-Time or Freelance
Another way to supplement your income and cover your expenses when studying abroad is to work part-time or freelance. As an international student on a Tier 4 (General) student visa, you are allowed to work up to 20 hours per week during term time and full-time during holidays, as long as your work does not interfere with your studies. You can work in any sector or industry, except for certain professions such as professional sportsperson or entertainer. You can also work as a freelancer or self-employed, as long as you do not set up a business or provide services to the public.
Save Money on Shopping and Entertainment
A third way to optimize your budget and spend efficiently when studying in the UK is to save money on shopping and entertainment. Shopping and entertainment are essential aspects of your student life, but they can also be quite expensive if you are not careful. Therefore, you should look for ways to save money on these areas without compromising on your quality of life.
English Language Courses by OIDI
If you are an international student who wants to improve your English language skills before or during your Masters degree in the UK, you can enroll in one of the English language courses offered by the Oxford International Digital Institute (OIDI). OIDI is a leading provider of online education and training, with over 30 years of experience and expertise in the field. OIDI offers a range of English language courses for different levels and purposes, such as general English, academic English, business English, or exam preparation. You can choose from flexible and affordable options, such as short courses, intensive courses, or one-to-one tuition. You can also benefit from the high-quality teaching, interactive learning, and personalized feedback from the OIDI instructors.
Conclusion
Studying abroad in the UK can be an exciting and rewarding experience, but it also comes with challenges and expenses. Understanding the cost components of tuition fees, living expenses, travel costs, and visa fees is essential to manage your budget effectively. Additionally, applying for scholarships and grants, working part-time or freelance, saving money on shopping and entertainment, and improving your English language skills through courses offered by institutions such as OIDI can help optimize your budget and ensure a successful study abroad experience. By following these tips, you can enjoy your time in the UK while staying financially responsible.
