Best way to pay for study abroad

Telegraph International Money Transfers

High university fees are just one of the things that might deter students from studying here in the UK. Average rental costs have been on the rise for seven consecutive years, and even though recent figures show that they are starting to fall, they have a long way to go to become anywhere close to competitive with accommodation costs in other countries.

Eight affordable study abroad destinations

  • The Netherlands
  • Germany
  • Taiwan
  • Norway
  • France
  • South Africa
  • India
  • Malaysia

Here’s why they’re financially attractive:

In many European countries the university fees are also often a fraction of the cost of the £9,000-a-year tuition fees of UK universities. Take the Netherlands, where annual tuition fees are significantly lower: there is also a good range of subjects that are taught in English.

While English-taught courses are less common in Germany, those who are either open-minded about what they study (or speak German) could also save on fees and the cost of living. If learning and studying in a new language is appealing, a French or Spanish university might be an option.

Elsewhere, places like Taiwan can prove much cheaper, where studying in the nation’s leading university is a fraction of the cost of a degree back home. Many Indian universities also run tuition in English, and the low living costs in the country provides one of the best all-round packages for students looking to spend less.

Cheapest way to pay for overseas student fees

Whether you are studying overseas yourself, are an expat regularly paying off your student loan back home, or you transfer money abroadto support a loved one through their studies, it could pay to consider how you transfer money from the UK.

Many people still aren’t aware of the impact that poor exchange rates can have on the cost of international studies. Choosing to use a high street bank to send money overseas for example, could be unnecessarily diluting the value of a your transfer due to uncompetitive rates.

Furthermore, sterling is now relatively weak compared with two years ago, which makes getting a competitive rate even more important in making your money go further.

Access more competitive rates and lower, transparent fees

Using a specialist to send money abroad can often give you access to better rates, as well as a more convenient service. As a consequence, we have joined forces with foreign exchange specialists moneycorp to bring our readers Telegraph International Money Transfers.

The expert service provides you with access to great exchange rates and low transfer fees. While banks can charge £20-£40 every time you make an international payment, moneycorp’s fees start at £4 and go up to a maximum of £10 if you make a telephone transfer. moneycorp can also make regular transfers easier as a regular payment plan enables you to set up repeat payments at any interval for only £3 each time. On 12 monthly payments to cover living expenses, this alone could save you more than £400 a year.

The service also provides you with your own online account, which enables you to send money at the click of a mouse or swipe of a tablet. There are many additional features too, such as access to your own dedicated personal account manager who can discuss your options around planning ahead in the event of exchange rate movements. And for those that are new to the service, the transfer fee is waived for your first time. So it could be worth joining around 10,000 other readers to benefit from this competitive service.

Exclusive offer: Enjoy your first transfer FREE with Telegraph International Money Transfers.

Telegraph International Money Transfers is provided by moneycorp. moneycorp is a trading name of TTT moneycorp Ltd which isauthorised and regulated by the Financial Conduct Authority for the provision of payment services.