by Helen Foley, Associate Director, Visa Compliance and Financial Aid
Whether you are doing your research or you have been offered a place on one of our degree programmes, you need to take into consideration how you will finance your living costs while studying in London. As the School’s Financial Aid officer I hope to be able to provide you with some useful insights.
Checklist for new students:
- London Business School Acceptance Letter
- Student Visa (If You Need One)
- Secure Financing for Your Fees
- Purchase Plane Ticket to London (and Get Some Air Miles, too!)
Are you ready for London?
Well I can guarantee you’ve never lived in a city like London. That’s because there is something about London’s vibrancy that permeates the soul. It’s at the forefront of global business and trade. You can become part of a cutting edge, fintech start up at Old Street; make your mark within the luxury retail industry on Kings Road, or build your career as a trader at the London Stock Exchange located near iconic St. Paul’s. And, when you’re done studying and working for the day the options to let your hair down are truly limitless. London is where hipsters in Hoxton and the Royal Opera are only a few tube stops away. There are concerts at KOKO in Camden, championship tennis at Wimbledon and a staggering 270 museums in the Greater London area alone. You can grab a burger and a pint at the Windsor (our local pub) or discover a fine dining jewel, at one of our many Michelin starred restaurants. Are you looking for more? Then check out the TimeOut London blog – it’s a great resource.
London Business School is a significant investment in your future. But, what does it cost to live in here? The answer is simple; it varies based on the individual. It all depends on you, especially the choices you make when you’re here. But, we can provide you with a rough guide to understanding the cost. In the past, we’ve surveyed our student population to find out what their monthly expenses are including renting their flat, utility bills, transportation, and socialising. You can find that here. (Please note that the cost of living has risen slightly with 2% Consumer Price Index ( CPI).
You’ll have to ask yourself, “what do I value”? Maybe you want a postcode with killer views of the Thames or a building with cathedral ceilings. You may have a more low key approach and prefer sharing a comfortable flat with other LBS students. Or, you could look to make efficiencies by living in University of London accommodation.
Obviously, you can save a bit when flat sharing and cooking. This is what Arly, MBA2015 did while at LBS. He thought it was important to live close to the School and rented a flat with two other students. He’s an American; his two flatmates are French and South Korean. They shared home cooked meals from their respective countries. By flat sharing, it allowed Arly to keep his cost down, which then provided the opportunity to attend more cultural treks.
One of the recurrent themes that showed up during our survey was that a number of students didn’t know how easy it was to commute to the school from “every corner of London”. There are excellent transport links whether tube, bus or train.
For those on a leaner budget, there is limited accommodation with University of London Halls. This is advertised in the spring and we’ll communicate more to you when the application process is opened. LBS students have previously lived at International Hall and Lillian Penson House. There are spacious ensuite rooms, with high speed internet. You’ll also have access to a laundrette, additional study space and a recreational area. Both properties are a short walk to our campus at Regent’s Park.
Now that you have accepted your admissions offer, are sorting out your student visa (if needed) and are beginning to look into financing your course, do also ask yourself, what do I value from my accommodation. This will provide you with your own level of comfort, while also giving you a clear indicator of your living costs. Then begin talking to your classmates to see what their plans are too.
London is ready for you.