Content area

Full text

[email protected]

Studying medicine can be expensive, and many students worry about whether they will have enough money to fund their studies and cover basics such as food and rent, despite funding from national student loans companies and the NHS student bursary.

In 2013, a survey of 2735 UK medical students conducted by Cardiff University on behalf of the General Medical Council explored the factors that affect the wellbeing of medical students. It found that “finance was found to be a significant area of concern raised by students in the focus groups.”1 And in 2012, a survey by the BMA, which received 623 responses, found that money worries were having a negative impact on students’ stress levels (68%), quality of life (64%), quality of academic work (36%), and dedication to medicine (22%).2

This article provides an overview of the funding you are entitled to, how to plan your finances, and what to do if things go wrong if you are studying in the UK.

What costs do you need to cover?

Costs vary, but the following are things to consider budgeting for each year:

  • Tuition fees: up to £9250 (€10 536; $11 953) a year for UK students and two to three times higher for international students, depending on the university you attend. Fees are lower for students applying from Scotland, Wales, and Northern Ireland when studying in their own countries

  • Living costs: on the basis of a 2012 BMA survey into medical student finance you can expect living costs of between £4000 and 6000 a year2

  • Accommodation: most freshers live in accommodation owned by the university, which you can book through the university website. From the second year, many students live in private accommodation. Search online for average rents in your area—the university website and websites such as Rightmove or Zoopla are good places to start. The median amount spent on accommodation by UK medical students in 2012 was £4200 a year2

  • Living costs: food, clothes, and toiletries—allow around £50-£70 a week

  • Travel: regular travel to campus, to clinical placements, and to and from home at weekends or university holidays; and one-offs, such as conferences and your elective

  • Insurance: to cover your personal belongings in the event they are broken, lost,...

Show less