Student loans from the UK government aren’t available for international students. Although tuition fees in the UK are capped at £9,250, this doesn’t apply to all students. International students’ tuition fees usually cost a lot more, but it depends on the university and course. Luckily, there are useful financial aid options that can help. Here’s everything you need to know.
- What financial options are available to me?
- Am I eligible for any financial aid?
- Can I get a scholarship to study in the UK?
What financial options are available to me?
The UK is the second most popular study destination worldwide, offering fantastic teaching and a rich, diverse culture. UK courses generally take less time than other countries, helping to reduce overall tuition fees and accommodation costs.
Although student loans from the UK government aren’t always available for international students, there are other ways to fund your study.
Exchange programmes
Possibly the most affordable way to experience studying in the UK. This includes enrolling as a student at your local university and studying in the UK for a period of time. It’s likely a student from the UK will do the same, but they’ll travel to your local university instead to experience studying abroad themselves.
Student loans from third parties
For example, US students can apply for a Study Abroad Loan if they’re studying abroad for no more than a year. If it does exceed the year, they can apply for a Foreign Enrolled Loan instead. There are also Future Finance loans available for all international students from China and Hong Kong to India.
Private funding
If there are any large companies who are open to employing graduates from your course, it’s worth checking if they offer financial support. Typically, companies like this option, but with the condition you work for them for some time after you’ve graduated.
Scholarships
Awarded based on various criteria, such as academic excellence, scholarships are a premier financial aid option that can help pay for further education. We’ll be discussing this in more detail in the section below.
Can I get a scholarship to study in the UK?
A university always wants high-quality students to graduate from it and it’s aware that travel expenses, tuition fees and living costs all add up. So, it will offer scholarships, which are financial rewards for fulfilling particular criteria it has set. These don’t need to be repaid either.
For example, it could be awarded based on academic or athletic excellence, or due to certain merits (such as performance in a particular school subject, club participation or community service).
It’s not just universities who might award scholarships. There are also private sponsors and donors who might be willing to offer you one.
For instance, Commonwealth Scholarships is an international programme governed by 53 countries in the Commonwealth. They usually award around 900 scholarships to established students coming from developing Commonwealth countries who want to study in the UK.
Usually, this bursary takes care of tuition fees, a monthly allowance and even airline tickets from home to the UK and back.
When looking at universities, check to see whether they offer students in your country a scholarship. Whether you’re from India or Malaysia, Indonesia or even Thailand, some universities will offer you excellent scholarship support.
Am I eligible for any financial aid?
Although studying in the UK is a valuable experience, it can also be an expensive decision for many international students. There are lots of ways to budget as an international student.
Plus, rules and exceptions when it comes to financial aid.
For example, for international student loans, eligibility depends on lots of things such as age, university choice, your nationality or residency status and course.
As for funding, such as grants, the amount can be limited if you already have a degree so make sure to take this into account when applying. But, there’s no age limit for these.
International students who reside in countries outside the EU pay nearly the full cost for tuition fees when they decide to study at a UK university.
Something to remember is that when you apply for your general student visa, you’ll need to show that you have enough money to pay for your course and also to support yourself while you’re in the UK. So, arrange all your finances beforehand so there’s nothing left to do when you arrive on campus besides going to class, socialising and taking in the memorable sights.
There’s more than finances to consider when studying in the UK as the requirements to study in Europe and each country are different.
We know students have different circumstances so we suggest directly talking to universities or funding organisations yourself if you have questions relating to your personal situation.
All you need to know about studying in the UK
Studying in the UK is a rewarding experience and if you’re interested, don’t hesitate to apply and enhance your higher education. The UK is a vibrant and exciting place to have your higher education experience, international students join our world-renowned universities every day.
For more useful information for international students looking to study in the UK, download our handy guide for all you need to know. From accommodation to finance, we have it covered.
