It is essential to understand the financial commitment. Tuition fees and living costs vary by institution and location.
Tuition fees
Undergraduate courses: Typically £15,000 to £35,000 per year for international students
Postgraduate courses: Fees range from £20,000 to £35,000 per year
The government recently increased the maximum tuition fees for UK students (e.g. full-time fees for domestic students are now capped at around £9,535 per year, while international student fees remain higher)
Living costs
According to ONS data and government reports, the average living costs for students in 2025 will be between £900 and £1,600 per month. Recent data shows that UK inflation has risen to 3% in January 2025, driven by rising costs of transport, food and educational services. This inflationary pressure has an impact on student living costs.
Basic costs:
Accommodation: Living costs are higher in London and Edinburgh compared to Manchester or Birmingham. In London, the average student rent is around £1,200 per month (more or less). In other areas, rents are generally lower, with areas such as the West Midlands averaging around £900 per month (more or less).
Food: Grocery costs are typically between £120 and £200 per month, depending on eating habits and shopping choices.
Utilities: Expect to pay between £50 and £100 per month for electricity, gas, water and internet if these are not included in the rent.
Transport: Monthly public transport costs vary depending on location, ranging from around £30 in smaller cities to around £120 in London.
Essentials: Other necessities, including mobile phone bills, study materials and personal care items, can add an additional £20 to £50 per month.
Additional discretionary expenses:
Social activities, dining out and leisure expenses can add an additional £50 to £200 per month, depending on personal lifestyle choices.
Overall estimate:
Taking into account the above factors, students should budget for living expenses of approximately £1,100 to £1,600 per month in 2025. This range takes into account regional differences and recent inflation trends affecting basic goods and services.
Budgeting Tips:
Budgeting Tools: Utilise budgeting apps to monitor and manage expenses effectively.
Accommodation Options: Research the local rental market and consider shared housing or areas with lower living costs to save money.
Expense Classification: Distinguish between essential and discretionary expenses, prioritize necessities and manage finances carefully.
Quick Reminder: Scholarships and Funding
The UK offers several accounting scholarships to support offsetting tuition fees and living costs.
Many universities offer dedicated scholarships for international students
In addition, financial aid and student loans can help ease the financial burden
When planning your budget, always consider tuition fees and living costs to get a comprehensive estimate of your expenses.
Career prospects for UK accounting graduates
As the University of Hertfordshire highlights, UK accounting graduates enjoy a variety of career opportunities thanks to the UK’s strong financial sector and global reputation:
Professional roles:
Graduates often gain employment as chartered accountants, auditors, financial analysts, tax consultants and corporate finance managers
Internships and placements:
Many courses include UK accounting internships, providing graduates with practical experience working with leading companies
Graduate salaries:
Entry-level salaries for accountants typically range from £28,000 to £35,000 per year, with huge potential for growth as experience increases
Global opportunities:
UK degrees are highly regarded around the world, opening doors for graduates to enter international markets
Networking:
University careers services and alumni networks help graduates connect with potential employers, enhancing long-term career prospects.
