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Students who have missed out on a UK university placement are looking overseas, but Brits are being warned not to waste thousands on doing so. If you are planning on studying abroad make sure your gadget insurance policy covers you.
High street banks are charging high fees and uncompetitive exchange rates for foreign money transfers which could mean according to Caxton FX parents could end up paying more than they need to.
Typically parents are charged £4 just to transfer money and banks can also apply commission and take overseas delivery charges. Paying US tuition fees via a bank could cost £374 more per semester, amounting to £1496 extra over a two year course.
"It's a knee-jerk reaction to go to your bank for overseas payments," commented James Hickman, Caxton FX managing director.
"To avoid wasting money on unnecessary fees, parents need to know that there are cheaper and trustworthy alternatives."
Santander Universities' research recently revealed students work 2.7 million hours in total each week to fund their degree, with one in four admitting their studies are suffering as a result. Almost half of all students work part-time to support themselves, with one in 1 employed students working for 15 hours or more each week.
Compare Gadget Insurance for Overseas Study
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