The news is full of stories about the impact of tuition fees and rising rents on student numbers but exactly how much does it cost to go to university?
Well, the short answer is that it varies. The big cost is tuition fees and the amount you pay depends on the course you choose and where you decide to study.
Having said that, in the top 50 universities there are only eight institutions offering tuition fees below the maximum £9,000 so it’s a pretty safe assumption that you’ll be paying the full £9k.
After tuition fees, your next biggest expense will be your rent but again, this will vary depending on the location of your university. Rents in the South East are the highest in the country, while areas like Staffordshire, Cumbria and some parts of Scotland offer much lower rents. If we’re talking averages, students should expect to pay roughly £70 per week in rent.
Utility bills are another cost that needs to be taken into account, with the average student household spending approximately £2,127 per year on gas, electricity and water bills.
So where does that leave you? We’ve done some quick sums and when you factor in miscellaneous expenses like coffees, nights out (we’ve been generous on this one), travel home, books, mobile phone, food etc… The average student isn’t going to get much change out of £20k a year. Bringing the cost of completing a three-year degree course to £60k.
For a more precise idea of what your costs are likely to be, have a look at the ThisisMoney.co.uk student budget calculator.
If you are a student or you are thinking about going to university we would love to hear your views. Does the cost of going to university put you off? How much would you be willing to pay? Join the conversation on our Facebook page or on Twitter, or by leaving a comment below.