On 23rd June 2016, the United Kingdom voted to leave the European Union. This will have massive implications both in the short term and long term. But what will it mean for students? Here, we list how Brexit could benefit or hinder your future studies and career prospects.
Negatives of Brexit for Students
Science research: If you are studying one of the hard sciences, your situation just became that little bit more precarious. Massive amounts of research at British universities depended on EU funding. The future of that is now bleak and the countries that remain in the European Union are likely to direct that funding elsewhere – to France, Germany, and to Republic of Ireland, as the EU’s remaining English-speaking country.
ERASMUS: The future of ERASMUS funding for British students looking to study abroad or for EU students looking to study in the UK is likely to end. The talent sharing and knowledge central to education across the EU means that it will be harder for UK universities to attract EU talent. Why? Because tuition fees for EU students will rise, classed as international students.
Economic downturn: For others, there will be problems as they begin to graduate. Intended career paths on the continent may dry up. Investment may dry up and businesses may pull out. Graduates have only had their situation improved following the last economic downturn and now face another one thanks to this referendum.
Positives of Brexit for Students
Universities Will Fight For You: It must be pointed out that the university representative bodies intent to work hard to maintain many of these rights and privileges to keep the UK at the centre of academic research in Europe. It’s possible that as you continue your studies, little may change at all, at least until the UK has formally withdrawn.
New opportunities: As the UK leaves the EU trading block, we don’t know what lies around the corner for new opportunities in other parts of the world. New trade agreements could mean more opportunities to work in the US, Australia or elsewhere – especially the developing countries where the cost of living is low and opportunities for the highly-qualified become limitless. Many warn that these will vastly outweigh the negatives, but for the right person with the right degree, it could prove a boon.
Tuition Fees: For the next academic year at least, tuition fees will not change. What will happen from September 2017, depending on ERASMUS and other European students, this could increase. However, many commentators say that demand is so high for universities that they are unlikely to lose out financially for some time, if ever. Tuition fees are highly likely to be unaffected by this result.