The well-known British newspaper The Telegraph states that, The United Kingdom is one of the most expensive destinations for higher education. Due to the increase of the fees and the cost of living a degree in the UK can be worth the jaw-dropping €25 000 per year. The effects of Brexit are said to have an even bigger impact on the great deal young people who are hoping for a place at an English university.
Regardless, future students can save thousands if they acquire a scholarship, or just choose another country among the diversity of new study destinations. The cheapest Master’s degree you can get is in Kenya, Bangladesh, Argentina, Norway and Poland, or even a diploma from India and Russia can be 5 times more affordable than one from the United Kingdom. In 2015, the annual fees and the expenses for living in India amounted to €4280, and for Russia they were €5250.
In a result of the increase of the annual fees from £3000 to £9000 (or from €3540 to €10 620), Britain ranked the 5th most expensive country for a higher education diploma.
Still, there are a few more countries where higher education is even more expensive – Australia, South Korea, Singapore and the USA; in Australia, where it is the most expensive, every student needs to prepare an average of €32 176 per year. Nevertheless, the “the Land Down Under” remains a favorable study location due to the government’s continuous investments for international education, student jobs and more affordable tuition fees.
One year in China or France costs around €8300, in Brazil it is €9500 and in New Zealand – more than €15 000.
How much does it cost to study in a college or a university in the USA? The cost is between €18 000- €44 000, which includes tuition fees, cost of living and food expenses. However, in the States the existing scholarship and stipend system is quite effective, concerning the international students; they can cover the cost partially or fully. Student loans are also widely favored as well as other sources of financial aid available for the USA (international organizations, cooperation projects and worldwide relations).
As for Asia, together with the continent’s increasing popularity as a study destination, the costs are quite intriguing. Taipei, located in Taiwan, is home to universities with average tuition fees of €3500 per year. With the addition of low living costs and a different educational system the city aims to set an example for a good balance between quality of education and expenses. Other Asian countries, including Singapore, Japan and Malaysia, are expected to become more affordable with the increase of international students and number of exchange programs.
In conclusion, the cost of study is always important, however the other major criteria is the quality of education. In every corner of the world you can find universities and business schools which are of the highest quality. For more information about the quality of education in some countries around the world check this article.
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Masters portal for Germany: www.master-and-more.de
Masters portal for Austria: www.master-and-more.at