'The International Student Calculator helps you plan your UK study budget.'
How do you work out how much money you're going to need when you're planning to come to study in the UK?
You can start by using the International Student Calculator, a free online tool developed by the UK Council for International Student Affairs (UKCISA) and national education charity Brightside.
The calculator is quick and easy to use, and will help you to:
- build a budget for your studies
- discover the real cost of living in the UK
- read money saving tips from other international students
- get advice on banking, accommodation and finding a job.
Case studies
To find out how other international students are managing their money, Brightside and UKCISA spoke to them and asked whether they have any advice for other students coming to the UK. You can read all of their recommendations in full on the International Student Calculator website.
Hoa, 24, from China is studying in London for a BSc in Mathematics. She says: 'I think that planning your finances before you arrive in the UK is the most important thing. When you are budgeting make sure you allow for an emergency fund. There will be costs that you didn’t plan for and transferring money often takes time.'
Sally, who is 25 and comes from the USA, is very clear about why she chose to do her Master's in Economic Policy in the UK: 'My Masters here takes one year. In the US it would take two. This has helped me justify the cost so it's been worth it.'
She also recommends internet banking, so that you can check your balance whenever you want. Sally's top tip? Use PayPal to transfer money from other countries - it's quick and saves money.
Alejandro, aged 30, is Argentinian. He planned his PhD studies for two years before coming to the UK. 'The planning has really helped me cope as I ensured I budgeted for all the costs I'd need to pay to come here, including visas and travel to the UK,' he says. 'Internet calls like Skype are a great way to stay in touch with friends and family back home, and it's very cheap!'
And Ayumi, 17, from Japan who is studying National Certificate in Travel and Tourism sums it up: 'Find out how much things like food cost before you come here. Some things may be cheaper or more expensive than you are used to. It is good to know what to expect so that you can budget.'
