Home Commercial Awareness The Cost of Studying in the UK – Universities after Brexit and the Coronavirus

The Cost of Studying in the UK – Universities after Brexit and the Coronavirus

by Ceara Sutton-Jones

It is no secret that over the years, the higher education system in the UK has been a dividing notion amongst many. From the contradicting views of those in government to student protests often met by the disapproval of older generations, the double-edged sword of Brexit and the Coronavirus has undoubtedly highlighted sentiments of discontent that already existed.

As the dust from the Brexit deal begins to settle, so has some of the ambiguity that clouded its decisions. Whilst the certainty from statistics released have reassured some, for students it has simply cemented their feelings towards the government. Students are tired of being overlooked and forced to face the consequences of a decision that they played no part in making.

Studying in the UK after Brexit

The UK has long since been a much-coveted place for students wanting to complete their higher education. With over 500,000 international students enrolling each year all over the country, this is simply a testament to the unparalleled standard of education that the UK offers. A name for being leaders in the field for research, globally recognised qualifications and a more personalised approach to teaching indeed positively separates its reputation from other leading countries such as the US. It allows us to participate in a world of increasing social mobility and equal opportunity. Or so was the case before Brexit marks the stance of the student.

For students, Brexit has brought their future into question regarding the overseas study, and opportunities to welcome international students into their lives. Upon confirmation of this, it is no surprise that students have maintained their protests. According to a recent article published by Forbes, a new analysis predicts that universities are set to lose an estimated £62.5 million per year in tuition fees as a result of Brexit. And the number of European Union students at U.K. universities is predicted to slump by more than half. By creating barriers that previously didn’t exist, Brexit has created a problematic environment for students and universities alike, with both facing unprecedented financial difficulties.

The Cost of Studying in the UK

Currently, for students studying on a 3-year course at a UK university, it will cost them £55,620. This figure when presented in black and white hardly seems accessible or fair, however, many suggest that in reality, it promotes a progressive approach. Only 30% of students end up paying their loan back in full, alongside a benchmark salary requirement before repayment even comes into play. The conservative narrative promotes this as a model structure, as it simultaneously allows for employees to receive a decent salary. Whilst in principle the benefits are clear to follow, problems have arisen upon its operation.

However, it is not necessarily the structuring of the system that students are angry about. The Conservative’s failure is not in the system that they promote but in their failure to address the legitimate concerns raised by those living by the laws of their government. For example, in terms of the Coronavirus, students are paying the full amount for a compromised experience, while many vice-chancellors are still earning a full salary. Analysis of 2018-2019 wages showed the Vice-Chancellor of Imperial College London received £554,000 as an annual wage. With 13 universities facing bankruptcy, and students having to find part-time jobs to fund housing that they aren’t even able to live in, it is understandable that students deem this as insensitive considering the current situation.

Accordingly, it has certainly been difficult to navigate the economic ramifications of Brexit, alongside the discontent and struggles at the hands of the Coronavirus. However, as we start a new year with both challenges being managed, it will be interesting to see how the future of education will change.

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