The price of university education around the world

The cost of universities in other countries: a turn-away to one’s own home? Or an investment for opportunity?

Though it is true that many of Britain’s young minds would enjoy themselves a fair winning education within their countries own boarders, can the same be said for those students foreign from our shores?

Apparently many countries take the value of education to a substantial high, simply by looking at the cheapness of their universities leaves the observer open for the grip of interpretation.

India for example, as of 2016 has indeed taken the average annual costs of tuition fees and living costs to a grand total of £3,630, with countries of Russia, Denmark, Mexico and Spain trailing behind.

Top 10 cheapest places in the world to study 2015/16

Country Average Annual Cost
India £  3,630
Russia £  4,450
Denmark £  5,862
Mexico £  6,130
Spain £  6,633
Belgium £  6,728
China £  6,954
Taiwan £  6,975
Finland £  6,998
France £  7,129

How is it apparent that universities so cheap can exist when compared to universities in the world have to ability to call out so much earnings from their students, when both are capable of fulfilling to same rightfully, righteous role?

When the independent took interest in these questions of finance they interviewed FAIRFX to confirm their enquiry proper and the currency expert, Darren Kilner said something quite interesting. According to the company, a three year course in the UK will cost a student around £63,000 in tuition fees and living costs – three times the amount of a deposit on a new house.

Let’s take a look of comparison to a few of the most expensive Universities in the world, again, lets leave it to interpretation, sourced straight from tution fees top universities.

Massachusetts Institute of Technology (MIT) US

All undergraduate programs $49,580

Most postgraduate programs $49,580

Stanford University, US

All undergraduate programs: $48,987

Summer tuition feed (optional): $15,777

Most postgraduate programs: $48,987

Engineering postgraduate: $52,188

Harvard University, US

All undergraduate programs: $44,990

Most postgraduate excluding PhD’s*:

  • $43,296 for years one and two
  • $11,258 for years three and four

*PhD students at Harvard University receive full financial support, including cover of tuition, other fees and the cost of living (cost of living stipend currently at US$2,980).

California Institute of Technology (Caltech), US

All undergraduate programs: $48,111 + $1,797 mandatory fees*

All postgraduate programs: $48,111 + $1,605 mandatory fees*

*As is the case at many US universities, all programs at Caltech are subject to further fees. In addition to tuition and living costs, all students will be expected to secure health insurance either through Caltech or a comparable plan. Caltech’s health insurance plan for 2017/18 costs $821 per term.

University of Cambridge, UK

UNDERGRADUATE UK & EU STUDENTS (in 2017-18)* INTERNATIONAL STUDENTS (in 2018/19)
Computer science: £9,250 (~€10,500) UK£29,217 (~US$37,800)
Mathematics: £9,250 UK£21,411 (~US$27,700)
Management: £9,250 UK£29,217 (~US$37,800)
History: £9,250 UK£19,197 (~US$24,850)
POSTGRADUATE (all fees are for 2017/18) UK & EU STUDENTS INTERNATIONAL STUDENTS
Computer science (MPhil): £11,391 (~€13,000) UK£29,769 (~US$38,500)
Engineering (MPhil): £7,392 (~€8,400) UK£25,770 (~US$33,300)
Politics (MPhil): £15,300 (~€17,365) UK£25,200 (~US$32,600)
History (MPhil): £10,800 (~€12,250) UK£21,600 (~US$27,900)

The most expensive universities from around the world (average yearly cost)

Country Average Annual Cost
Australia   27,277
Singapore   25,309
South Korea   25,566
US   23,592
UK   21,000
Hong Kong  20,721
Canada   19,323
UAE   18,957
Switzerland   15,200
Japan   14,897

For certain this substantial ask of £21,000 average yearly cost is quite worthy of opinion, but how much does this bother people?

In the end who can really say which kind of university is better for the paying student: The diverse, well qualified but hugely expensive UK or the cheap but less recognised universities of the cheapest foreign countries. It should be taken with a grain of salt though, money is merely one aspect of a student’s life at university, and the curious paying could wonder when he or she looks to the horizons and wonders what else is out there: Does the foreign place of learning offer something more? Than the qualities comparable to their excellent home institutes?

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