Education is a long-term investment for the individual and for society as a whole. This is evident from the statistics shown below about the increase in number of students’ applications by about 8% than the previous year for higher studies in the UK universities. People are using academia to escape the recession and be better qualified by the time the jobs market picks up again

There are also signs that the recession is affecting people’s choice of degree, breeding a new generation of economists and mathematicians.

There were modest rises in business degree applicants.

Source: University application service (UCAS)

Studying in the United Kingdom has never been better. Thanks to the global recession, it has now become a boon for Indian students who want to pursue higher studies in the UK. According to authorities of the British Council, studying at universities in the UK has become a cheaper affair. The tuition fees for a management course, which used to be about Rs 6.5 lakh, will now cost about Rs 5 lakh, mainly due to depreciation in the pound value from Rs 85 in June last year to Rs 67 this month. Further, the living expenses too have come down in the UK from last year’s level in terms of Indian currency.

Interestingly, the UK universities have also increased the scholarship amounts to encourage meritorious students to pursue higher studies, again due to global recession. As most of the universities in the UK are State-run, the British Government has increased the scholarship amounts to encourage overseas students to pursue higher studies.

Students can also take advantage of the Tier-1 scheme which allows students to stay in the UK up to two years after successful completion of their studies to take up employment. Thus, students can cover their study costs by working in the UK and do not need work permit.