Student Finance: Adding Up The True Cost Of University

The cost of education has been very high in most parts of the world. To make matters even worse, it has been constantly rising for the past several years. Taking some courses these days may require you to pay tuition fees of up to £9,000 without any other hidden costs!

Owing to this uneconomical trend, most higher learning institutions in the UK are beginning to receive lesser and lesser university applications from qualified applicants. Since the rise in tuition fees, these applications have dropped by almost 20%.

It is important for people to note that the cost of getting a university degree is not always determined by the tuition fees alone. Therefore, when selecting courses, students should always consider all other costs aside from the course fees. Here are the few things that add up the true cost of university education:

Accommodation
The cost of getting a roof over your head as a student is always very high. Recent studies conducted in Europe showed that over 70% of college students are finding it very costly to get shelter. This is because the student maintenance loan may not cover 100% of the rent. For this reason, most students have to take on part-time jobs.

Transport
Travelling to and from campus can cost a lot if the accommodation is far away. Those students who frequent far away restaurants and night clubs are even more disadvantaged. This is because they must hire taxis and we all know what that means, don’t we? If you properly account for the total amount spent on transport you will be surprised. Transport alone adds up to a substantial figure when it comes to the cost of university education.

Food
The cost of food is also very high; most university restaurants tend to charge a lot for their services. The cost of food is inevitable and no matter where you go it will always drive you round the bend. Therefore, before you rent an apartment, it’s always good that you first of find out whether the cost of food sold at the local shops is affordable or not.