Finding out how much a postgraduate degree will cost is an important step to take when researching the prospect of further study. Your postgraduate fees can seem expensive, but they cover your use of the library, IT equipment and other university study facilities, as well as any tuition and supervision included in your course. We take a look at the cost of studying a postgraduate course.
How much does a Masters cost?
Tuition fees will be an important factor in deciding where you choose to study a masters. The cost can vary depending on the duration of the course, the subject area, the location of the course and the university ranking. Fees often vary depending on the subject you study, for example, a lab-based Masters will normally cost more than subjects which are predominantly classroom based, however some universities do average out the costs, so that all masters courses are roughly the same price. Some universities will group courses into varying price bands and a master’s degree can cost as little as £4,000 and up to £12,000. In some cases a university may charge per number of credits, and you will be required to complete a specified number of credits in order to achieve a master’s degree.
How much does a PhD cost?
PhD tuition fees are normally around £4,000 per year. Like masters, the cost of a PhD varies according to subject area, location and ranking of the university. Tuition fees are paid each year of study, so as most Doctoral courses run for three years, you’ll pay three times the quoted amount.
How much does an MBA cost?
MBA fees are usually significantly more, varying between £10,000 and £33,000 a year. The average cost of an MBA is £15,600, although this is sometimes split up over the course.
Postgraduate course fees were often based on the government recommended figures, but as undergraduates begin to pay higher tuition fees, it is thought that many universities will want to start charging postgraduates more too. In 2012, the average cost of postgraduate study fees was just under £6,200, but this autumn, universities are expected to start charging upwards of £8,000 on average.
These figures are averages and courses can be found for less than £4,000, likewise there are more specialist courses that charge in excess of £12,000. In addition to these postgraduate tuition fees you should also consider living costs which vary greatly up and down the country.
The cost of postgraduate study can be viewed as an investment and it is worth researching the net cost of a Masters, PhD or MBA, both in monetary and non-monetary terms including your own personal investment in time required, any unpaid leave you might need to take for classes and exams and the cost of textbooks, accommodation along with other living expenses. You could also research the net value of a postgraduate degree, helping you to weigh up the benefits in financial terms.
To find out the exact fees for a specific postgraduate course you can check the course listing on our website, just search for your course using our simple course search.