The United Kingdom of Great Britain and Northern Ireland have voted to leave the European Union. What will happen next is anybody’s guess. Some believe that nothing will happen. Others think that it will leave completely stripped of any trade agreement with its old partner countries. Further are speculating everything in between including the total dissolution of the UK and some new deal with the EU. The reality is that we do not know. This is precisely why you need to be aware of what could happen in each possible scenario, so that you are well-prepared.
The immediate impact of any secession of the UK from the EU will be negative for scholarship and grant funding. This is quite simple. How negative, is unknown. The scale of the eventual recovery is impossible to estimate. What you need to understand right now is that if you have already secured a place at a British university, you will be eligible for any currently available scholarship applicable to you. This means, that in the immediate term, whatever your plans may be to study in the UK, you can rest easy in terms of fees and funding. This also applies to your visa status. You will continue to study under the same conditions.
What must be known is what will happen once the Brexit happens. If you are an EU citizen, your visa status will change. You will also have to pay full fees for international students, as opposed to the existing, and quite significant, discount that you are eligible to. Any pan-European scholarships will also be affect. This is not only related to any ERASMUS grant, but any scholarship scheme open exclusively to EU students studying in another part of the EU as well as any available to those from outside the EU to study in any EU country. Any scholarship scheme for the UK which is either fully or partially funded by the EU is also due to either stop or at least be reduced.
This might all sound rather nebulous. That is because it reflects the reality that we currently face. These are times or true uncertainty. As a result, there is one good strategy for your long-term study plans in the UK. This strategy is to put them on hold. By all means, go ahead with any already agreed-upon schemes and programmes. On the other hand, beyond the next two years, there is absolutely no certainty. Stick to those programmes not dependent on EU funding or membership. There are many of them available. You must spend longer looking for them, however.