Study Abroad Rate Following EU Referendum

Watch
TheWorrier
Badges: 1
Rep:
?
#1
Report Thread starter 4 years ago
#1
Hi!

The third year of my four-year degree programme is a year abroad (compulsory). I understand that there's a special 'study abroad rate', which is higher than the usual maintenance loan. I have applied to study in the US, and I'm panicking a little bit about finance. I usually get about £6,000 in maintenance loans/grants each year. Will Student Finance Wales take into account the enormous change in the exchange rate since the EU referendum? Whereas in the past a student receiving (for example) £6,500 for their study abroad year would have had circa $10,000-11,000, the same amount is now only equivalent to about $7,800, which won't be enough to cover the cost of the year.

Will this be taken into account by Student Finance Wales, and higher loans awarded? If not, how are students expected to fund their study abroad years (particularly in cases like mine, where it's compulsory)?
0
reply
Jackieox
Badges: 19
Rep:
?
#2
Report 4 years ago
#2
(Original post by TheWorrier)
Hi!

The third year of my four-year degree programme is a year abroad (compulsory). I understand that there's a special 'study abroad rate', which is higher than the usual maintenance loan. I have applied to study in the US, and I'm panicking a little bit about finance. I usually get about £6,000 in maintenance loans/grants each year. Will Student Finance Wales take into account the enormous change in the exchange rate since the EU referendum? Whereas in the past a student receiving (for example) £6,500 for their study abroad year would have had circa $10,000-11,000, the same amount is now only equivalent to about $7,800, which won't be enough to cover the cost of the year.

Will this be taken into account by Student Finance Wales, and higher loans awarded? If not, how are students expected to fund their study abroad years (particularly in cases like mine, where it's compulsory)?
If i'm being honest I don't think they'll take it into account. They could give you like 10 grand (to make up the difference) then the exchange rate could go back up and you've ended up with way more money..Because the exchange rate fluctuates it's very likely they'll just stick with what it is now..

According to the SFW page the maximum they'll give for study abroad is £7,372.. but still dependent on household income.
0
reply
X

Quick Reply

Attached files
Write a reply...
Reply
new posts
Back
to top
Latest
My Feed

See more of what you like on
The Student Room

You can personalise what you see on TSR. Tell us a little about yourself to get started.

Personalise

Feeling behind at school/college? What is the best thing your teachers could to help you catch up?

Extra compulsory independent learning activities (eg, homework tasks) (2)
5.71%
Run extra compulsory lessons or workshops (7)
20%
Focus on making the normal lesson time with them as high quality as possible (4)
11.43%
Focus on making the normal learning resources as high quality/accessible as possible (3)
8.57%
Provide extra optional activities, lessons and/or workshops (11)
31.43%
Assess students, decide who needs extra support and focus on these students (8)
22.86%

Watched Threads

View All
Latest
My Feed

See more of what you like on
The Student Room

You can personalise what you see on TSR. Tell us a little about yourself to get started.

Personalise