Financial Planning

Managing Your Student Finances in United Kingdom

Plan your budget effectively with this guide to tuition fees, living costs, scholarships, and financial requirements for studying in United Kingdom.

Money for Studying in the UK

Fees, money to show for the visa, and living costs, in British pounds (£, GBP).

Monthly Budget Overview

Accommodation£1,164

Food & Groceries£167

Transportation£173

Personal & Leisure£266

Total Monthly£1,770 a month

Master's tuition (international)

From £19,500 a year (Coventry University, 2026-27) to £48,300 (Imperial College London, 2027 entry), for the courses on our fees page.

International fee for one computer science master's course at each university.

Living Costs Calculator

Finance Topics

Money Topics

Everything you need to plan your money for the UK.

Tuition Fees

Complete breakdown of tuition costs across universities in United Kingdom

Key information

Program-wise fee structure
Public vs private universities
Additional academic costs
Payment schedules and methods

Learn More

Living Costs

Comprehensive guide to living expenses and budgeting in United Kingdom

Key information

Accommodation costs by city
Food and daily expenses
Transportation costs
Personal and entertainment budget

Learn More

Financial Proof

Documentation and requirements for proving financial capacity

Key information

Required financial documentation
Bank statement requirements
Sponsor documents
University-specific requirements

Learn More

Scholarships

Available scholarships and funding opportunities for international students

Key information

Government scholarships
University-specific funding
Merit-based opportunities
Application deadlines and process

Learn More

Student Jobs

Work opportunities and regulations for international students

Key information

Work permit regulations
On-campus job opportunities
Part-time work options
Post-graduation work rights

Learn More

Budget

Monthly Costs in London

King's College London average costs for one month in London, 2026-27. Other cities often cost less.

King's monthly costs

Per month, London

Essential Monthly Expenses

Accommodation

£1,164

Average accommodation in London

Food & Groceries

£167

Food for one month

Transportation

£173

Travel in London zones 1 to 4 (the central rings of the city)

Personal & Academic

£266

Personal and leisure

Total Monthly Budget

Average living costs for students

£1,770 a month

Excluding tuition fees

Costs vary significantly based on location and lifestyle. Figures are estimates and subject to change.

Money Management

Banking in the UK

A UK bank account lets you be paid for part-time work and pay your rent.

Banks Students Use

Two examples. Check each bank's rules for international students.

HSBC UK

A large UK bank with branches across the country.

Student Account: only if you have lived in the UK for at least 3 years
HSBC Bank Account if you are new to the UK: no monthly fee

Barclays

A large UK bank with a student account.

Student Account opened in the Barclays app
You may need a letter from your university to finish the application in a branch

Papers to Open an Account

Passport
Proof that you may live in the UK: a share code from your online visa record (eVisa), a short code that lets an employer or landlord check your visa

Proof of address, such as a letter from your university confirming your place

Money Transfer & Payment Methods

Options for receiving and sending money internationally

Money Transfer Options

Bank Wire Transfers

Traditional bank-to-bank transfers using SWIFT/BIC codes.

Secure

Reliable

Higher fees

Money Transfer Services

Services like Wise, Remitly, Western Union, and MoneyGram.

Lower fees

Better exchange rates

App-based tracking

Common Payment Methods

Cash

Keep some cash on hand for small purchases and emergency situations. ATMs are widely available.

Smart Financial Tips

Expert advice to help you manage your finances effectively while studying in uk

Budgeting

Plan with your university's own living cost figures

The money you show for the visa must stay in your account for 28 days in a row

Saving

Council Tax is a yearly bill for your home. A home where everyone is a full-time student does not pay it in England and Wales

A 16-25 Railcard (a card for cheaper train tickets) gives 1/3 off rail travel

Banking

Open a UK bank account after you arrive

Banks ask for ID, proof of address and proof that you may live in the UK

Pro Tips for uk

Currency Management

• Monitor exchange rates and transfer money when rates are favorable
• Use multi-currency cards to avoid conversion fees
• Keep some local cash (£) for emergencies

Local Financial Culture

• Learn about local tipping customs and practices
• Understand tax obligations for international students
• Explore local student financial support programs

Remember: Financial planning is key to a successful study abroad experience. Start planning early and don't hesitate to seek advice from financial advisors or your university's international student services.