Going abroad to study? Sounds great right? An increasing number of UK students are doing just that.
A report by the British Council shows that 28,640 British students ventured out of the UK to study in 2013/2014. That’s 10,535 more than the previous year.
Where are they all going?
The US was the most popular destination, followed closely by Australia. No surprise considering the US has some of the world's top Universities. (That, or they’re chasing the sunshine!)
The number of students interested in travelling to non English speaking nations is on the rise too. In Europe, France and Germany are the clear winners. Out of all the UK students interested in going international, half of them consider it for their undergraduate studies.
Top of their list of priorities? Enjoying and exploring different cultures. On the flipside, it looks like UK students are only just catching up to the joys of studying abroad. In 2013/2014 a staggering 493,570 international students came to study in the UK, showing the UK is still a hotspot for students.
Paying to study abroad
Studying abroad can be pricy and banks have hidden charges on international bank transfers. Never fear, there is a way to avoid getting ripped off.
TransferWise is the cheapest and fairest way of transferring money internationally. It uses peer-to-peer technology and doesn't hide any charges. It’s making the world a tiny bit better by helping to make the financial system fair. Students can save their money (or their parents’) by using TransferWise for international money transfers. And Sofia is one of them:
Sofia studies at Leeds University, but is spending her year abroad teaching in Tenerife. Her family has lost out sending her money in the past because of unfair bank charges. Sofia was keen to find a better way, especially when it came to moving her savings back to the UK at the of the year.
Obviously she was pretty relieved to find that TransferWise would cost her significantly less than the banks:
“I was getting so worried about how to send money home without the banks stealing huge chunks of my savings! I’m so glad to have found TransferWise - it’s a much cheaper and more honest option!”
Roxanne also studies abroad and avoids paying high fees by using TransferWise instead of banks:
Roxanne, is originally from London and has been studying in Paris for two years now. She heard about TransferWise from friends, but it wasn't until she stumbled upon it on the App store that she started using the service.
Roxanne uses TransferWise to send money from her UK account to her French and US accounts:
"I think Transferwise is very efficient - I love that I can transfer money between accounts with a couple of taps on my iPad!"
Thinking about heading abroad to study? Don't let the banks rip you off when you move your money. Find out how much you could save with TransferWise.