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The cheapest and most expensive countries in the world to be a university student revealed in new research

Russia is one of the most affordable places in the world to be a student – and the average annual cost is almost five times less than the UK.

UE - Russia is one of the most affordable places in the world to be a student – and the average annual cost is almost five times less than the UK.

Students looking to pursue a university education in the UK in the near future may want to think again after new research has revealed it to be among the costliest countries in the world to study for a degree.

In accordance to this year’s Times Higher Education’s (THE) World University Rankings, travel money company FAIRFX has compiled a list of the cheapest and most expensive countries in the world to be a student, based on average annual tuition fees and living costs.

India has taken the top place with a yearly cost of just £3,629.62. Russia has come in as close second with an amount of £4,449.90 – nearly five times less than the UK – followed by Mexico, Spain, and Belgium.

Top 10 cheapest places in the world to study
In relation to Times Higher Education (THE) World University Rankings 2015/16

Britain was found to be one of the most expensive places with an annual cost of £21,000 – ranking in 25th position out of 29 nations, behind only the US, Singapore, South Korea and Australia. In comparison, studying for a year in China or France would cost three times less – in the region of £7,000 – while Brazil would cost just over £8,000, and New Zealand at just over £13,000.

Top 10 most expensive places to be a student
In relation to Times Higher Education (THE) World University Rankings 2015/16

FAIRFX currency expert, Darren Kilner, described how higher tuition fees in the UK are making students consider their options now when it comes to choosing a university.

According to the company, a three year course in the UK will cost a student around £63,000 in tuition fees and living costs – three times the amount of a deposit on a new house.

Mr Kilner added: “With the investment costs so high, it’s no surprise students are looking at cheaper ways of securing their university education and studying abroad is becoming a much more attractive option.

“Not only can UK students take advantage of lower tuition fees, but the cost of living can also be much lower so there is a definite financial incentive along with the opportunity to experience a new country and culture.”

Independent