GBP to USD all time low

The British Pound (GBP) is at an all-time low to the US Dollar (USD) – Is Now the Time to Consider Earning Your Degree in the UK?

Due to the recent changes from the British government on tax cuts and borrowing, the British Pound (GBP) has weakened to $0.92 per US Dollar (USD). Never has the US Dollar been so strong against the Pound.

 

Even before the Pound dropped, you might be surprised to know that the UK has always been a more affordable option to earn a degree compared to the US.

 

The average cost of tuition fees for students studying in the US on campus is $35,500 per year (Best Colleges, 2022). UK university tuition fees can range from £14,000-£26,000 per year. Not only are tuition fees far less in the UK, UK degrees in England, Wales, and Northern Ireland offer 3 year bachelor degrees (unless it’s an integrated or placement year degree). Therefore, students save an additional year of tuition and living expenses.

 

This also rings true to master’s degrees in the UK. A master’s degree in the UK is 12 months long. This allows the student to save another year of tuition and living expenses.

 

As for living expenses, if you are living in London and are on a 9 month course (degree), the UK Government recommends students applying for their UK Student Visa must have at least £12,006 to cover housing, food and transportation (not just room and board). For students living outside of London for a 9 month course, it is recommended having at least £9,207.

 

So if you’re looking at affordable UK degree options, you could earn your bachelor’s and master’s degrees in 4 years and save 2 years worth of tuition and living expenses!

 

Currency Conversion – Total Cost to Earn Your UK Degree

 

Now let’s convert those currency figures (GBP) to dollars (USD) in today’s economy…

 

If we looked at the lowest amount for UK undergraduate tuition fees (£14,000) and living fees outside of London (£9,207), the student would be looking at total expenses of £23,207 per year.

 

UK tuition fees and living expenses per year for a student living outside of London could be as low as $25,000 per year (xe.com, Sept 28, 2022).

 

If we looked at the highest amount for UK undergraduate tuition fees (£26,000) and living inside of London (£12,006), the student would be looking at total expenses of £38,006 per year.

 

UK tuition fees and living expenses per year for a student living inside of London could be as high as $41,000 per year (xe.com, Sept 28, 2022).

 

Is this the time to be looking at earning your degree in the UK more than ever? Is the pound expected to jump back and rise?

 

We can’t predict the future but from what we’ve read, it looks positive for Americans. The US dollar has strengthened and played a contributing factor. Economics have also pointed out that they don’t see the pound jumping back up anytime soon. The Washington Post interviewed Barry Eichengreen, a professor of economics at the University of California at Berkeley, who said “Recovery is not on the horizon” for the foreseeable future.

 

How Can I Start My Search and Find the Right UK University Match for Me?

 

There’s two main resources students can look to find the right UK University fit…

Students can start by taking The UK Study Expert UK University Match Quiz which asks you questions about what degree you are interested in applying to (undergraduate or graduate), your interests, and academic profile. The quiz will then populate the top 5 UK universities that best match your profile.

The UK Study Expert also has an Undergraduate UK University Search Engine and Postgraduate UK University Search Engine. Students can input their GPA, SAT scores, ACT scores, how many AP exams they have taken/will take, subject interest, and more. They can input as much information or as little of their academic profile and interests. Once added, the search engine will populate UK university options that match their interests and entry requirements.

 

UK universities have clear, transparent information for students to be admitted into their universities. They favor academics rather than looking at a holistic review of a student’s profile. To find out their US entry requirements, students can click on any of The UK Study Expert UK university pages to find out their US entry requirements.

 

Leave a Reply