As a comparison, in the UK we spend about £6k per high-school aged child/youth/young adult (11-18) on schooling. In London state schools get about £8k, the highest £8.5 (~€46k over 5 years).

So it's relatively not so much to be within €8k per year for degree level study.

We do have 4 year MEng-s though (same length as many MPhys, MChem, MSc).

1GBP is about 1.1EUR currently (!).