Report reveals high UK study costs
The UK is one of the most expensive countries in the world for English students, a report has claimed
Only Australia, the US and Canada cost more, according to the HSBC study.
It found that the average cost for an English student to attend a UK university in 2012/13 stands at £15,586.96. This includes average tuition fees of £8,894 and living costs of £6,692.95.
Canada is only marginally more expensive - even when the price of return flights to the UK is included, the report says.
James Yerkess, HSBC head of foreign exchange, said: "While many people have focused on English-speaking destinations, our research shows that these are among the most expensive places for English students to study.
"With studying costs in Europe falling, the continent should be given serious consideration. Many universities offer courses taught in English and the benefits of speaking another language may add to students' employability after graduation."
Sally Hunt, general secretary of the University and College Union, said: "Students have been contributing more and more to the cost of a degree over recent years and now is the time to explore other options. Simply squeezing more money out of students and their families is not the way for us to keep up with our global competitors."
A spokeswoman for the Department for Business, Innovation and Skills (BIS) said: "Going to university depends on ability, not the ability to pay. Most new English students will not pay upfront to study in the UK or the rest of the EU and there is also more financial support for those from poorer families in the form of government grants and bursaries.
"Loans are only repaid once graduates have jobs and are earning over £21,000 - that's 40% higher than the income at which graduates start repaying loans under the previous system."
© 2012 Press Association