Cost of International Undergrad Courses across the world
According to our research, there is a large range in the costs of an undergraduate education for a UK student if they choose to study at home or abroad. The current UK University rate of £9,000 per year can rise to as much as £30,000 in the US.
The table below summarises some of the top schools from around the world for international students. The amounts range from nearly £30,000 in the US to under £3,000 in China. Additionally, many countries have courses longer than 3 years, the US is typically 4 years, so that adds another 33% to the cost of the degree.
Cost of Undergraduate Degree for a UK Student
| University | Country | Annual Tuition Cost (local) | Annual Tuition Cost (GBP) | Annual Money Transfer Saving | Saving Over Full course |
|---|---|---|---|---|---|
| Nottingham | UK | 9,000 GBP | £9,000 | - | - |
| Nottingham Malaysia Campus | Malaysia | 41,040 MYR | £6,387 | £121 | £364 |
| Oxford | UK | 9,000 GBP | £9,000 | - | - |
| Cambridge | UK | 9,000 GBP | £9,000 | - | - |
| Harvard | USA | 45,278 USD | £29,469 | £619 | £2,475 |
| Yale | USA | 45,800 USD | £29,809 | £626 | £2,504 |
| MIT | USA | 43,720 USD | £28,455 | £598 | £2,390 |
| McGill | Canada | 18,259 CAD | £8,932 | £188 | £750 |
| National University of Singapore | Singapore | 37,200 SGD | £17,186 | £361 | £1,083 |
| The Australian National University | Australia | 33,168 AUD | £15,409 | £324 | £971 |
| Ecole Polytechnique | France | 8,000 EUR | £5,848 | £123 | £368 |
| University of Hong Kong | Hong Kong | 146,000 HKD | £12,250 | £257 | £1,029 |
| Seoul National University | Korea | 6,000 USD | £3,905 | £82 | £328 |
| Tsinghua University | China | 26,000 RMB | £2,648 | £48 | £191 |
| University of Amsterdam | Holland | 9,000 EUR | £6,579 | £138 | £414 |
Sources: University Information, FXcompared Intelligence Research
Savings available for international payments to study abroad
Using only traditional bank methods to pay overseas tuition costs can add a significant cost of over per pupil per year – due to the poor exchange rates and fees.
Using specialist currency brokers could save parents the equivalent of over £600 per student per year which for a student who takes a four year course in the US for example, is a saving of over £2,500; that buys 5 flights, 50 textbooks or 1,000 beers!
Assumptions:
- Payments made in two instalments per year (some schools offer three payments which would make the savings even more as smaller amounts have worse exchange rates and as well as the additional fees from a third payment)
- No additional costs for living expenses such as rent, food or entertainment
- Difference between bank and specialist provider rates and fees based on independent research conducted by FXcompared Intelligence of UK, US, Australian, Canadian and New Zealand banks and the leading currency brokers (virtually all of whom are on FXcompared) in August 2015