It’s a recurring phenomenon: when the economy takes a dive, postgraduate courses see a surge in enrolments. In the 2002 recession, postgraduate applications rose by more than 100% in some cases, as fresh graduates and laid-off workers alike sought refuge from the economic storm in academia. This recession is no different.

Historically, economic downturns last about two to three years. That is enough time for an aspiring, say, business student to prepare an application, take the Graduate Management Admissions Test, trot off to business school and re-enter the recovering job market at a higher income bracket armed with a freshly minted MBA.

With fewer jobs available to graduates, many are opting to stay in school rather than attempt to join an unwelcoming workforce immediately after collecting their diplomas.

© 2009 Education UK

Applications to British taught postgraduate courses from overseas candidates, in particular, are up by 79%, according to a February 2009 report published in The Guardian – with a corresponding 127% increase in applications from domestic and EU students. Said Roderick Smith, director of admissions at the University of Birmingham: ‘Obviously the UK is cheaper to come to for overseas applicants because of the weak pound.’

The Russell Group lays claim to more than 30% of UK-bound overseas (non-EU) students who, according to the group, enrol at its universities. This due in no small part to approximately two-thirds of British universities’ research grant and contract income (more than RM11bil), plus 68% of UK Research Council funding going to Russell Group universities.

It would, therefore, be no surprise that Russell Group universities churn out more than 50% of all doctorates awarded in the UK.

Individually, universities are also taking steps to encourage postgraduate enrolment. Top-ranked Durham University was recently reported to be setting aside £200,000 to fund postgraduate scholarships for about 100 of their brightest students who are scheduled to graduate this summer. Students selected for these grants must commit to studying for a Master’s degree and stay on for at least a year.

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We have launched this scholarship because we recognise that, even for the most academically able and talented graduates, it’s a tough economic environment in which to seek employment,’ said Professor Anthony Forster, Pro-Vice-Chancellor for teaching and learning. ‘We want to give our graduates an extra incentive to build on their skills, ensuring they are in the very best position to get a firm foot on the career ladder.’

It is all well and good to talk about the wealth of academic excellence on tap in the UK but it’s so expensive there, isn’t it? Or is it? If you compare the UK to the US or even Singapore, then you might be pleasantly surprised when totting up the numbers.

Most certainly London is one of the most expensive cities in the world. There’s no getting around that fact. However, so too are Singapore and New York. The point here, however, is the UK is not just London, where prices make even the British break out in a cold sweat.

There is any number of world-class research institutions in the UK, in far cheaper places than London. Many are also based in bustling metropolises (for the city types) which would provide ample entertainment for those who need it.

© 2009 Education UK

All expenses are as advertised on each business school’s website

The difference is clear. For the price of the tuition fees alone at INSEAD, you can finance your flights, entire course and most of your stay in the UK – and Singapore’s just down the road, lah! Certainly, at first glance the prices at Stanford do compare favourably. However, the Oxford MBA is a 12-month course but American MBAs are two-year programmes, so in effect you can double the price to obtain your total outlay for a Stanford MBA – that’s the better part of 600,000 bucks.

Regardless of course type, one of the key selling points of UK postgraduate study is that, by and large, what you see is what you get. Fees are pretty much inclusive, so it is easier to work out how much it will cost you when you are budgeting. Added to which, the UK has a free healthcare system, so you do not have to worry about potentially crippling medical bills – or sorting out insurance.

The fact that most, of not all, of the UK’s cities are geared towards students, and making life cheaper and easier for them is a given. Student discounts are available at local and national level, including (but not limited to) travel, clothing, food and entertainment.

Adding this up in the ‘total’ column means that if you are looking outside Malaysia for a world-class education that is value for money and affordable, then the UK should be top of your list. Variety, quality and affordability guaranteed.

© 2009 Education UK