The number of foreign students applying to British universities could enjoy a boost because of the pound's plunge, giving UK institutions an advantage over US competitors in their battle for international prestige.

Research from iGraduate, a higher education research group, shows the cost of studying in the UK has fallen sharply for many foreign students, particularly Asians. Britain has become 46 per cent cheaper for Chinese applicants over the past year, and 29 per cent cheaper for Malaysians. The cost for Indian applicants has dropped 10 per cent.