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.

 

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

Enchantment in the United Kingdom

Written by AppUK Student Ambassador in USA, Leanne Springer.

 

“I wandered lonely as a cloud/That floats on high o’er vales and hills, /When all at once I saw a crowd, /A host, of golden daffodils…”

These famous lines quoted in the poem, “I Wandered Lonely as a Cloud,” were written by the renowned British poet, William Wordsworth, known for being a strong force of the Romantic Movement that hit the shores of Great Britain in the late 18th century.  This particular poem was influenced by a bed of daffodils that Wordsworth and his sister stumbled upon while walking through the English countryside.  Many other great authors and poets come to mind when I think of Great Britain, such as Emily Brontë, Charles Dickens, William Blake, Lord Alfred Tennyson, John Keats; to name a few.  My personal love for culture and nature has been burgeoned by the works of such writers.  What better a place for students, specifically from America and Canada, than the United Kingdom to explore and embrace such an abundance of culture and nature?

As English is an official language of America and Canada, students from these countries should have no problem when facing a language barrier in the UK.  Through personal experience, I have come to realize how daunting it can be to study abroad in another country where the language is not your own.  This can lead to communication breakdown.  Though I am not discouraging study in a foreign country where the language is not familiar to one’s own, I do encourage American and Canadian students to study in the UK because of the similarities in language.  This can act as a comfortable beginning for students who have rarely or not traveled outside of America and Canada previously.

Americans and Canadians share another similar aspect with the United Kingdom, which is a mutual respect for nature.  All of these countries offer an abundance of beautiful, natural scenery.  Who does not like to go on a walk through the woods, or to be overlooking a sunset on an ocean shore?  The United Kingdom offers these natural wonders as well.  Americans and Canadians alike can enjoy nature in the United Kingdom, while experiencing a different culture.

Those potential students who decide to study in the United Kingdom through ApplicationUK also have added benefits from the company, such as a free application process, a single application that qualifies for five universities (unlike most North American universities that require a single application for each university, a headache in itself), sponsorship of the Visa, and a bonus of £300.  The money can be used however you see fit (maybe a shopping spree or local travel?)

The next time you experience another culture (perhaps in the UK?) remember the lines of Lord Alfred Tennyson;

“I am part of all that I have met;/ Yet all experience is an arch wherethrough/ Gleams that untravelled world, whose margin fades/ For ever and for ever when I move.”

 

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For more information on studying in the UK, get in touch on info@applicationuk.com, or visit our website at www.applicationuk.com.

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