With the rise in tuition fees and increase in the cost of living, particularly in the capital, the UK is seeing an increase in the number of students living at home and commuting to lectures. More shocking than the increase in tuition fees, whereby many students are helped out by their student loans to cover costs, the cost of student accommodation appears to be hitting an all-time high, with fees for living in student halls of residence doubling in the past 10 years.
It is clear that students of all degree levels and subject matters are experiencing an increase in overall university costs, whether studying for their MBA course in finance or business management undergraduate degree.
While the cost of living at university is increasingly worrying, with the NUS Pound in Your Pocket report highlighting the number students stressing over money worries during their time at university, as detailed in this article, the benefits of completing a degree often hugely outweigh short-lived stress. While the cost of living continues to be a worry for many of today’s students, the value of a degree has never been more alluring as graduates can expect to earn as much as £500,000 over their lifetime opposed to their non-degree qualified peers, as detailed in this previous article.
In addition to a more attractive pay-packet, today’s students can also experience more choice in their chosen subjects and route of study than ever before. While many students are working around the cost of a degree by staying at home and commuting, a significant proportion are able to afford their study through work alongside their part-time undergraduate degree in London.
While London is still one of the most expensive places to live and study in the country, it does offer countless opportunities by way of contacts and business potential, offering students the best possible chance of success upon graduation.
Image Credit: Kevin Utting (flickr.com)
This content was written by Rachel Smith. Please feel free to visit my Google+ Profile to read more stories.