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Studying Abroad

February 2nd, 2015 by Sarah Adams

University students can save money by studying abroad. Undergraduates can reduce their student debt by tens of thousands of pounds if they spend a year in a foreign university.

The average student in Britain pays £17,523 for an academic year including tuition fees, rent, travel costs and basic living expenses. However, Poland's Warsaw University is the cheapest location for British students. Typically this costs £4,119 for a year including return flights, accommodation fees and living expenses. For those that choose to study in a country where the language is not English, then the university will cover the cost of additional language lessons. The most expensive location to study abroad is Sydney University, which still works out to be £2000 cheaper than studying in the UK.

A year overseas is significantly cheaper, that means British students pay just 15 percent of normal tuition fees (currently capped at £9,000) if they spend the whole academic year abroad. Students can also apply for a Travel Grant through the student loans company to help with the cost of flights and health insurance. If studying abroad is not something you would like to consider, then have a look at the best rated universities in the UK.

Source: HSBC analysis: International Education