2 years ago
College education is extremely expensive everywhere, but UK and US students probably spend the most on their college education. Despite the fact that both UK and US students spend huge amounts of money during their college years and have to pay off insane student loans, it is still a big question who spends more. The Typical Student team has made an attempt to compare the average tuition and fees, food, transportation, and entertainment expenses of both US and UK students and see who the biggest spender is. Also, take a look at the list of 15 BEST Student Cities in Europe with Cheap Accommodation & Tuition Cost.
UK Students: Average Expenses on Education & Living
So let’s start with the British students. In general, the biggest UK spenders are the students of the London-based universities such as King's College London, Goldsmiths, Westminster, and UCL. However, students from Glasgow and Edinburgh spend quite big amounts of money as well. So what do all the UK students spend their money on?
First of all, UK students spend quite a lot on books and equipment they need for studying. According to savethestudent.org, an average annual tuition fee in the UK is around $13,050.
An interesting fact: students from UEA, Leeds Beckett, Loughborough, and Chester spend just about £200 a month on average.
US Students: Average Expenses on Education & Living
Now, let’s investigate the expenses of the American college students. There is no doubt that the biggest expense for the US students is the tuition fee.
Besides, after graduation US students still have to pay out their student loans. For instance, according to the Federal Reserve Bank of New York’s quarterly report, on average a student’s debt for a bachelor’s degree is around $39,423. Here is a table with the average expenses of the US college students.
Naturally, the amount of expenses depends on many factors, so taking "an average student" for an estimation criterion is not exactly correct. Still, it's possible to get a general idea of education price in both US and the UK. So, doing some basic calculations, we can conclude that US students have to spend a bit more compared to their British counterparts.
To sum up, take a look at the infographic below:
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