Planning to become an Erasmus+ student in Britain next year? But worried about what might happen to your financial support when Brexit starts to kick in? The European Commission is soon to publish their funding arrangements for student applications in 2017. You’re not alone in wondering if you will be able to afford to study here in the UK.
Hosts of international student homestay accommodation – a popular choice among students on short study courses – are a vital part of cultural exchange. For Britain to truly remain “open for business”, educational institutions look forward to being able to keep their college gates open to all overseas students. Likewise, the home from home experience for younger international students in a hosted accommodation, which lies at the heart of the rent-a-room scheme.
Universities waive their fees as part of the scheme
Founded in 1987, Erasmus+ is one of the biggest sources of funding for studying abroad. The scheme offers university students the opportunity to study or take up an internship in one of 33 European countries for between 2 and 12 months each time.
There is no cost to the student as universities waive their fees as part of the scheme, and the EU funds the student’s travel and living expenses. To date, more than 200,000 students have benefited from the scheme. A 2014 study found that young people who study or train abroad are “twice as likely to find employment quickly” and unemployment rates among Erasmus students was 23 per cent lower after five years than for students who did not study abroad.
It was also reported in 2014-15 that students from Europe spend £1.49bn a year in off-campus costs, such as rent and subsistence. Now Erasmus fears that their £112m EU student exchange programme may not be a priority when Brexit negotiations are underway and the UK becomes “locked out” of the scheme.
Students applying for next year are unlikely to be affected
However, the concerns raised are unlikely to impact students in the short term. Those students now in the scheme or applying for next year are unlikely to be affected, say Erasmus, but like so many UK institutions, are unable to confirm what the position will be beyond 2017-18 when the post Brexit era begins.
Nevertheless, all the uncertainty has led to the recent drastic fall of the pound. As the markets become jittery, dire warnings over price rises on key imports, such as food have hit the headlines. Currently, ‘Marmitegate’ may be said to represent the response of supermarkets to plunging exchange rates. Even if international students, such as those on The Erasmus+ scheme, are largely protected from funding cuts right now, they could face ongoing hardship as living costs threaten to skyrocket as uncertainty runs riot in the lead up to Brexit.
Affordable alternative to the high street agent and halls of residence
Even before the Brexit vote in June 2016, students in the UK saw their cost of living soar as a result of government policy in recent years. The average annual cost of living for students in England (outside of London) is now more than £12,000, of which, less than one sixth goes on food, according to the National Union of Students (NUS). Living costs for a student at a college in London have risen by more than 12 per cent to nearly £14,000.
Hosts will aim to maintain their role as cultural exchange ambassadors and will continue to offer international students and overseas visitors an enriching experience, and affordable alternative to the hotel chain, high street agent and halls of residence. It may become the only realistic option for students as the fallout from Britain’s withdrawal from the EU takes hold across the country.