With the new academic year underway, our Manchester accountants are on hand to help students and their parents work out the cost of university – and whether they can afford it.
Despite the easy availability of student loans, many parents prefer to try and pay for their children’s tuition upfront, to avoid saddling them with tens of thousands of pounds of debt at the start of their adult life.
But with tuition fees up substantially in recent years, this is becoming harder to do – raising the question of how to fund a three-year course.
Luckily, Manchester students are in a relatively good position, with the city’s universities well respected, but the cost of studying here for a year ranking outside of the top ten in terms of expense.
In fact, excluding tuition fees, Santander say Manchester ranks 12th at £8,597 per year – not an inconsiderable sum, but one that could easily be met through part-time work and parental contributions.
Compare this with, for example, Glasgow – where costs have shot up from £7,020 to £9,631 – and Manchester is doing quite well in terms of affordability.
This is one ‘league table’ where the city’s universities will be glad to rank quite low, and our Manchester accountants are here to help you work out if you can afford the upfront costs of your studies, or whether you might need to get a loan from somewhere to help you out.