What could be better than studying economics and management in Europe’s financial capital, thought Jonathan Barikmo from Larvik. When he moved to London two years ago, one pound cost NOK 11.4. Now it costs over NOK 14. It is the most expensive in over 50 years. It is noticeable that a cup of coffee costs ten kroner more, but it is even worse with other expenditure items. – School fees alone now cost NOK 60,000 more a year. With all costs, I will spend close to NOK 100,000 more a year in 2024 than in 2022. – Will the support from Lånekassen extend until then? – No, is the clear answer. Decline in foreign students The UK is still the country to which most Norwegian students travel to take a degree abroad. But the number has halved in the last ten years. British universities are popular with foreigners. But there are fewer and fewer Norwegian students. Photo: Gry Blekastad Almås / news While in the school year 2014/2015 there were 5,200 degree students in Great Britain, there were 2,600 in 2023/2024. The number of exchange students in the UK has also fallen sharply, from 500 to 300 in the last five years. – There is a decline, and with a weak krone exchange rate, we fear that even fewer will choose to study abroad, says Øyvind Bryhn Pettersen, who is president of the Confederation of Norwegian Students Abroad, ANSA. Øyvind Bryhn Pettersen is president of ANSA, the Association for Norwegian Students Abroad. Photo: ANSA He says that the organization knows of Norwegian students in the UK who cut out meals to afford their studies. Not only has the krone weakened; the pound has also strengthened. But it is not just the pound that is expensive now, the dollar and the euro also cost far more than before. – This is an incredibly demanding situation for Norwegian students abroad, and the most important measure is to ensure worthy and strong study support that also holds up through fluctuations in the krone exchange rate, believes Bryhn Pettersen. He believes that studying abroad should be a real opportunity for everyone, and recalls that the government itself has set a target that half of Norwegian students should have a study abroad. An England patriot outside King’s College in London. Photo: Gry Blekastad Almås / news The government indicates that it has increased student aid far beyond the expected price increase. – International students are among those who have benefited the most from these increases, in addition to the fact that they receive more support than they would receive as a student in Norway. In an international context, the Norwegian support schemes are also considered very good, writes State Secretary for Research and Higher Education, Ivar B. Prestbakmo (Sp) to news. ANSA believes it is not enough. – We are happy about a 10 per cent increase in student aid this year, but it is not enough when we see it being eaten up by the weak krone exchange rate, says Bryhn Pettersen. – Abroad experience a great value London student Jonathan Barikmo will change flats when he soon starts his 3rd year at Queen Mary University of London. He agreed with the owners of the new apartment a month ago. The dormitory has already become more than NOK 1,000 more expensive per month. Jonathan Barikmo. Photo: Gry Blekastad Almås / news – It is not a human right to study abroad, news points out. – No, but it is a great value for Norwegian society, I think. London is the financial capital of Europe. Getting Norwegian students with experience from international markets into Norwegian business is worth its weight in gold. – Now things don’t seem to be going very well with the Norwegian economy, so maybe that would have helped a little, actually, grins the economics student. Published 29/07/2024, at 10 p.m
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Gets extra bill of NOK 100,000 due to weak krone – news Urix – Foreign news and documentaries
