For UK universities lamenting the result of the European Union referendum in June, there may be at least one crumb of comfort. It is likely to be easier to retain international students from outside the EU, whose tuition fees this autumn will be up to a fifth cheaper than they were last year.

That¡¯s the main finding from research conducted by the financial services company Western Union Business Solutions, which showed that students from Malaysia ¨C a key and growing market for the UK ¨C will benefit the most from the falling pound, paying 22 per cent, or almost ?2,700, less on tuition compared with September 2015.

Fees for Singaporean and American students will be 21 per cent and 17 per cent cheaper respectively, according to the study, which was based on an analysis of tuition fee payments data for the UK¡¯s main overseas markets.

It assumed an average annual tuition fee of ?10,000, although a survey compiled by the Complete University Guide and published last month by Times Higher Education?found that average annual tuition fees for undergraduate overseas students in 2016-17 are ?13,394 for classroom-based degrees, ?15,034 for laboratory-based degrees and ?24,169 for clinical subjects.

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Overseas students enrolling in higher education for the first time this year will also benefit, with international tuition fees for the UK¡¯s key markets dropping at least 10 per cent since 23 June, the day of the EU referendum. New Indian students will see the biggest fall in tuition, saving 14 per cent, or ?1,570, in the two months since the vote, followed by students from Malaysia (13.7 per cent) and the US and Saudi Arabia (13.4 per cent each).

Tony Crivelli, UK and European managing director at Western Union Business Solutions, said the findings mean that international students can get a ¡°world-class degree from a UK university for a much lower price¡±.

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¡°It is also good news for universities here as the UK has been one of the most expensive places to study in the world, but now it is significantly cheaper than it has been for years. Students who are attracted to the UK by the cheaper cost this year will stay for three years on average to complete their degrees, and so the benefit will be felt for years to come,¡± he said.

However, he said that there was ¡°no guarantee that the exchange rates will remain this favourable for long¡±.

But while international students in the UK will benefit from the decline in the pound, UK students studying abroad will lose out. A separate study from foreign exchange provider Caxton FX found that Australian universities are now 22 per cent more expensive for Britons following the UK¡¯s decision to leave the EU, while UK students in Canada and the US will be paying about 16 per cent and 14 per cent more, respectively, for their annual fees. The analysis was based on fees displayed on individual universities¡¯ websites.

ellie.bothwell@tesglobal.com

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<ÁñÁ«ÊÓƵ>Cost of tuition at UK universities for international students in September 2015 and August 2016, based on ?10,000 annual fees?

Rank	Country	Currency	Cost of tuition on 17 September 2015	Cost of tuition on 15 August 2016	Difference in price	% difference?
1	Malaysia	M$	66,245	51,580	14,665	22.1
2	Singapore	S$	21,784	17,290	4,494	20.6
3	US	$	15,587	12,879	2,708	17.4
4	Saudi Arabia	SR	58,235	48,290	9,945	17.1
5	India	Rs	1,029,700	860,870	168,830	16.4
6	Euro area	€	13,628	11,513	2,115	15.5
7	China	Rmb	99,225	85,431	13,794	13.9

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Source: Western Union Business Solutions

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<ÁñÁ«ÊÓƵ>Cost of tuition at UK universities for international students on 23 June 2016 and 15 August 2016, based on ?10,000 annual fees

Rank	Country	Currency	Cost of tuition on 23 June 2016	Cost of tuition on 15 August 2016	Difference in price	% difference?
1	India	Rs	1,000,830	860,870	139,960	14.0
2	Malaysia	M$	59,735	51,580	8,155	13.7
3	US	$	14,878	12,879	1,999	13.4
3	Saudi Arabia	SR	55,784	48,290	7,494	13.4
5	Singapore	S$	19,889	17,290	2,599	13.1
6	China	Rmb	97,228	85,431	11,797	12.1
7	Euro area	€	13,067	11,513	1,554	11.9

Source:?Western Union Business Solutions

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<ÁñÁ«ÊÓƵ>Rise in cost of tuition for UK students in selected countries post-Brexit

Country	Currency	% rise in cost of tuition for UK students paying in pounds
Australia	A$	22
Canada	C$	16
Denmark	Dkr	15
US	$	14
France?	€	14
Switzerland	Swfr	14
Spain	€	14

Source:?Caxton FX