Will Brexit have a Financial Impact on Indian Students?

Last June, the UK decided as a nation to leave the European Union. Since then, this has directly impacted the pound in the international financial market. Studying abroad for most Indian students is a significant financial investment and is a plan that they make often years in advance. Parents are looking at ways of saving money in the long term to ensure that enough is available to send their children away to study. Experts believe that for now, and the next couple of years, Indian students coming to the UK will be spending less, as the value of the pound continues to depreciate against other currencies.

So, will this mean cheaper education in the UK?

In a word, yes.

But how much cheaper do you mean when you say ‘cheaper’?

The pound has gone down significantly compared to rates last year. There has been a drop of an average of Rs15 on the pound.

Average Exchange rate on 26/04/2016 –  1 GBP = 97.0631 INR

Average Exchange rate on 26/04/2017 –  1 GBP = 82.2606 INR

Since 2013, there has been a steady rise in the value of the pound compared to INR but it has now come down significantly in 2017.

But what does this mean in the big picture?

Even if universities do raise their fees, studying costs in the UK are now significantly lower, saving parents almost 5-7 Lakhs. And, with scholarship opportunities like the GREAT Scholarship from British Council, studying abroad this year will be financially viable for a lot more students.

 

Let us consider the below examples of doing a one year Master’s degree in the UK in 2017.

University of Warwick – MSc Accounting and Finance

Type: MSc (Full-Time)

Duration: 12 Months

Start Month: September 2017

Tuition: £33,500

Living Expenses: £11,400

Total Expenses: £44,900

Cost in GBP Cost in INR (2017) Cost in INR (2016) Savings
44,900 36,93,500 43,58,133 6,64,632

 

University of LiverpoolMSc Accounting and Finance

Type: MS (Full-Time)

Duration: 12 Months

Start Month: September 2017

Tuition: £18,000

Living Expenses: £9,200

Total Expenses: £27,200

Cost in GBP Cost in INR (2017) Cost in INR (2016) Savings
27,200 22,37,488 26,40,116 4,02,628

 

University of LeicesterMSc Accounting and Finance

Type: MS (Full-Time)

Duration: 12 Months

Start Month: October 2017

Tuition: £19,545

Living Expenses: £12,200

Total Expenses: £31,745

Cost in GBP Cost in INR (2017) Cost in INR (2016) Savings
31,745 26,11,362 30,81,268 4,69,906

 

Birmingham City UniversityMSc Accounting and Finance

Type: MSc (Full-Time)

Duration: 12 Months

Start Month: September 2017

Tuition: £12,000

Living Expenses: £12,200

Total Expenses: £24,200

Cost in GBP Cost in INR (2017) Cost in INR (2016) Savings
24,200 19,90,706 23,48,927 3,58,221

 

To get help in selecting and applying the right master’s course for you, please get in touch on info@applicationuk.com.

Find out how you can save more by Reducing Your Tuition Fees with ApplicationUK.

 

ApplicationUK’s easy-to-use online application portal provides a simple solution to postgraduate application stress. With its smart digital self-assessment tool, personalised application plan, and application tracking system, you can be rest assured that your application will go through smoothly. Our experienced counsellors are also here to provide expert advice, reassurance, and continuous support.

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Image source: http://indiandefence.com/threads/theresa-may-visit-uk-india-free-trade-agreement.56824/

UK Scholarships Exclusively for Indian Students

Thinking studying for your master’s degree in the UK?  The British Council has now introduced a total of 169 postgraduate scholarships, exclusively for students from India, in various fields such as Engineering, Law, Business, Art & Design, Biosciences, IT and more. 40 top universities in the UK are participating in providing this scholarship, worth £5,000.

Wondering if it’s too late to get a scholarship for this upcoming academic year? It’s not! The below universities are all offering scholarships worth a minimum of £5,000, and have applications deadlines over the next 3 months.

104University-of-Westminster-威斯敏斯特

University of Westminster

Scholarship value: £7,500

Application details: You must hold an offer for a full-time master’s at the university. The scholarships will be awarded to the best candidate in each faculty area; Architecture and the Built Environment, Business, Media, Arts and Design, Science and Technology, Social Sciences and Humanities, and Law. Minimum academic requirement equivalent to a UK 2:1 degree.

Number of scholarships available: 6

Deadline: 4th May 2017

 21The-University-of-Nottingham-诺丁汉大学

University of Nottingham

Scholarship value: £5,000

Application details: Applications are open to students studying for a master’s degree in the Faculty of Arts, Faculty of Social Sciences, or a MSc Biotechnology. You must be in receipt of an offer to study a master’s at the university. Please note, this scholarship is not available to alumni students.

Number of scholarships available: 7

Deadline: 19th May 2017

 83Sheffield-Hallam-University-谢菲尔德哈勒姆大学

Sheffield Hallam University

Scholarship value: £5,000

Application details: The university is offering six GREAT Scholarships of £5,000, exclusively for Indian domiciled students starting a full-time taught course in September 2017. You must have received an offer to study a master’s at the university, and achieve a minimum of 2:1 or equivalent in your undergraduate degree.

Number of scholarships available: 6

Deadline: 31st May 2017

51Birkbeck,-University-of-London-伦敦大学伯贝克学院

Birkbeck, University of London

Scholarship value: £5,000

Application details: You must have received your unconditional offer letter for your desired Postgraduate course. Once students have received their offer letter, they need to submit an essay of no more than 500 words on the topic:

“Why are you the ideal candidate to receive the £5,000 Birkbeck-GREAT scholarship?”

Number of scholarships available: 5

Deadline: 1st June 2017

11University-of-Surrey-萨里大学

University of Surrey

Scholarship value: £5,000

Application details: Scholarships are available for all Indian students studying for a master’s degree within the Faculty of Engineering and Physical Sciences. To apply, students need to complete an online form, answering the below question in no more than 400 words:

“Sometimes misunderstood, engineering is a profession offering endless creative possibilities. What inspires and excites you most about engineering (is it the opportunity to innovate…to be part of the future…to collaborate with other great minds?) and how do you hope to change the world for the better through engineering?”

Number of scholarships available: 5

Deadline: 19th June 2017

 101Bangor-University-班戈大学

Bangor University

Scholarship value: £6,000

Application details: in order to be eligible for this scholarship from Bangor University, you must have already received an offer to study for a master’s degree. You also must have also been offered the International Merit Scholarship, available to all students who achieve a first class (or equivalent) undergraduate degree.

Number of scholarships available: 13

Deadline: 15th June 2017

 22Cardiff-University-卡迪夫大学

Cardiff University

Scholarship value: £5,000

Application details:  Applications for this scholarship are open to students studying for a master’s degree within the College of Arts, Humanities, and Social Sciences. Eligible students must be holding either a conditional or unconditional offer by midday (GMT) on 30 June 2017.

Number of scholarships available: 8

Deadline: 30th June 2017

 27University-of-Kent-肯特大学

University of Kent

Scholarship value: £5,000

Application details: The university are offering 5 dedicated scholarships of £5,000 to students from India applying to study master’s degrees in Art and Architecture, Computing and Electronic Engineering, English, History, Journalism, Law and International Relations, and Mathematics and Actuarial Science. Students must have received a conditional or unconditional offer on one of the taught master’s degrees by the application deadline.

Number of scholarships available: 5

Deadline: 1st July 2017

61Queen's-University-Belfast-贝尔法斯特女王大学

Queen’s University, Belfast

Scholarship value: £5,000

Application details: This scholarship is open to academically talented students, applying to study for a master’s degree in the following subjects; Cyber Security, Management, and Architecture, Planning and Civil Engineering. Students must hold an unconditional offer of a study place to start in the September 2017 intake.

Number of scholarships available: 6

Deadline: 14th July 2017

 91De-Montfort-University-德蒙福特大学

De Montfort University

Scholarship value: £5,000

Application details: Awards will be made to students who have excelled academically, and who hold an offer to study master’s level in the Faculty of Arts, Design and Humanities, the Faculty of Business and Law, or the Faculty of Technology, starting in September/October 2017.

Number of scholarships available: 5

Deadline: 21st July 2017

 

To get a scholarship, you need a conditional/unconditional offer from the university. You also need to submit an additional essay or application in most cases. To check if you can apply for a scholarship, or to get your application started, contact Team AppUK on info@applicationuk.com.

ApplicationUK’s easy-to-use online application portal provides a simple solution to postgraduate application stress. With its smart digital self-assessment tool, personalised application plan, and application tracking system, you can be rest assured that your application will go through smoothly. Our experienced counsellors are also here to provide expert advice, reassurance, and continuous support.

Keep up to date with all the latest news from ApplicationUK on Facebook, Twitter, and Instagram.