Cost Components
The vibrant capital of the UK is inviting, with prestigious universities and numerous job opportunities once you complete your education. As per a recent census, 679,970 international students were studying at UK universities in 2021/22, and the number of entrants from India continues to climb yearly. The student route (for student visa) and the graduate route (for post-study work visa) has encouraged the inflow of international students. Our experts can help you overcome the roadblocks in your pursuit of education in London.
The tuition fees for undergraduate students vary from £11,400 to £38,000 based on the course and university. Postgraduate tuition fees range from £9,000 to £30,000. Financial aid in the form of scholarships and grants is available to international students based on their merit. Many Indian banks offer multiple loan schemes to finance the cost of your education in the UK, if you are eligible.
While this varies based on your chosen course, the cost of living for graduate and postgraduate students is similar. International students must understand the cost components to find ways to reduce the cost of living. After all, you must live for at least one year(for most of the postgraduate programs) and manage your living expenses while getting the best education possible.
International students who come to London without dependents can expect to spend around £1,300 to £1,400 per month to cover a range of living expenses.
Let’s break down the cost of living in London:
| Expenses | Average Cost Per Month |
|---|---|
| Accommodation | £750 to £850 |
| Household bills | £140 |
| Groceries | £155 |
| Socialising | £150 |
| Public transport | £103 |
| Mobile phone | £18 |
| Student gym membership | £20 |
| Total | £1,436 |
The cost of living varies based on your lifestyle. If you want to live an extravagant life, you can find private catered student halls and expensive bars for going out with friends. It is also possible to live frugally and minimise living expenses by choosing shared accommodation within the campus, avoiding eating out, and supplementing your income with part-time jobs.
Understanding your financial situation and the cost of basic living expenses will help you budget properly.
Accommodation
Rent is a major expense when living in London. It varies depending on the location and type of accommodation you choose.
Most of the universities in London offer on-campus accommodation. You can stay in private or shared halls on the university campus. The utility charges are usually included with the hall fee. This type of accommodation is comfortable, as you will stay on campus and everything you need will be available within a short distance. Depending on your affordability, you can stay in shared halls (less expensive) or private suites (for more privacy).
The on-campus accommodation is expensive because the amenities are included, and you stay within the university campus. Students with a tighter budget often go for off-campus accommodation within inner London and choose public transport to commute to the university. You can find shared rooms at a lower price, but you can also rent an entire furnished apartment with friends to stay on a budget. Staying in the suburbs outside of London will lower the accommodation cost. The following is an average cost of accommodation for different types of housing:
| Accommodation Type | Average Rent Per Month |
|---|---|
| On-campus accommodation | £538 to £1,792 |
| House share | £640 to £1,000 |
| Studios and apartments | £1,400 to £2,448 |
The university you go to may offer on-campus and private accommodation services. You can also use accommodation booking platforms to book student accommodations near your universities. Universities generally charge hall fees in unequal instalments throughout nine months for UG and 11 months for PG courses. Private accommodations charge rent per week based on your stay type.
Money-saving tips:
- Choose off-campus accommodation for more choices.
- Opt for shared accommodation with a shared kitchen to cook meals with your friends.
Food and Grocery
Food and grocery costs account for the next biggest part of your budget. Students may have to spend around £100 to £300 per month based on where they live (catered/self-catered/private accommodations). The average cost of a pub meal is £15, and eating out in a restaurant may cost you £20 per person. Including basic laundry and toiletry items, the average monthly grocery bill can be £160.
When you eat out in restaurants within the university campus, ask for student discounts, as many bars and restaurants offer 15% to 25% discounts when you show your ID card. To reduce food expenditure, shop at local markets and cook with your hallmates or flatmates. Instead of eating out, pack your lunch and take it to the university because these institutions have fridges, microwaves, and hot water facilities on campus.
Money-saving tips:
- Cook your own meals and shop at local stores.
- Seek out student discounts in restaurants and bars.
- Buy groceries in bulk and store them properly.
Transportation
The average transportation cost for a student living in London is £100 to £200. If you stay on campus, your transportation costs will be much lower. Paying as you go may be affordable if you don’t travel much. However, if you explore the city frequently, you can save more with an Oyster card for students with a 30% discount. Getting a rail card will give you discounts when you travel by tube, London overground, Elizabeth Line, or other national rail services in London. The city also has a public cycle hire scheme, which you can use to save money by simply cycling around the campus.
Money-saving tips:
- Invest in railcards.
- Opt for split ticketing for long journeys.
- Subscribe to cycle hiring schemes to get around the campus affordably.
Utilities and Other Expenses
The utilities may set you back by £50 to £100 per month, depending on how you live. Socialisation and entertainment are a part of student culture; you can’t miss out on that. Entertainment costs could easily reach £50 to £100 per month. The same goes for personal expenses when you need to upgrade your wardrobe, get together with friends frequently, or explore the city independently. While you can’t cut back on utilities, you can certainly cut back on going out and entertainment to lower your expenses.
Money-saving tips:
- Buy second-hand textbooks, furniture, clothing, etc.
- Participate in community freecycling to get high-ticket items for a lower price or for free.
- Reduce your water and energy bills.
FAQs
1. How safe is living in London for students?
2. What are the accommodation timings that I must know about?
3. How to find a mentor while living as an international student in London?
4. How is co-living different from student housing?
Conclusion
Understanding the multiple components of the cost of living in London will empower you to plan and budget effectively for your expenses. You can efficiently manage your expenses by exploring accommodation options, cooking your own meals, and using public transportation. Many universities allow you to take up part-time jobs for 15-20 hours per week; some universities even offer part-time jobs on campus. London offers a vibrant student life, and with careful planning, you can make the most of your experience in the world-class city.
Looking for guidance on how to study and manage your living expenses in London? Get in touch with us to talk to a personalised consultant who can help you achieve your dream of studying in London.
