While gaining access to a world-class education is one of the benefits of studying abroad, the route for it can be way more costly than one can imagine, especially for an international student. When it comes to studying abroad, the expenses of studying and living there can take a massive toll on your finances. The money you have planned to spend for your education abroad may not be sufficient as the tuition fees vary with universities and countries. Besides, there are living expenses, travel, and other costs, which need student consideration.
So what is the best way to work things out in your favor? It’s through budgeting!! It’s something that you must look after well in advance. Having well-planned finances can help you get the position in one of your preferred universities while catering to the other expenses quite easily. If you are planning to study abroad, you must research from your end what expenditures you will likely get in the way of study abroad preparation. And most importantly, do you have a budget allotted for them?
Let’s help you to make this task easier. To begin with, here is a list of major expenses you will likely encounter while studying abroad as an international student.
- Tuition Fees: One of the significant expenses of studying abroad goes for tuition fees. It varies with the university and course you choose. Some universities will charge you a minimum, while others may cost you a fortune. Hence you have to be careful and well-informed in this regard. Make sure you select the university and program based on your budget limits.
- Cost of living: This would include expenses for:
- Accommodation: Some universities offer on-campus housing & meals to international students and include those expenses of the stay in tuition fees. However, if your preferred university doesn’t cover you with such facilities, you may need to shell out extra money to stay in rental places. You will find a plethora of off-campus housing options with varying rental amounts and faculties. As an international student, if you want to settle in an affordable yet comfortable place, you must be quick in your approach to budgeting for accommodation and other necessary expenses and research to find a place to live in your host city.
- Transportation: It is again one of the major expenses that students must look after. Some universities cater your flight expenses to and from your study abroad destination, while others do not. Although students should consider flight costs, there are also expenses associated with using public transportation daily and traveling on the side. The traveling expenses can be more in one country than in others, and students must consider this while planning for financials.
- Entertainment: When you study abroad, you would also want to explore different places and the culture of your chosen country in your post-Uni time. Such activities come with a cost and thus need your consideration. Many students try to manage their living expenses by working part-time, but again every country is different, and so are their work policies & limitations. You must do thorough research in this regard and plan your budget accordingly.
- Other expenses include study material, groceries, medical, weekend activities, shopping, traveling, phone, and more.
- Visa Fee: Most study abroad countries charge between Rs10,000 to 30,000 as visa fees.
Now that you know the various costs associated with studying abroad. Let’s get our attention to the minimum budget requirement on how much it costs to study abroad in different countries such as the UK, the USA, Canada, Australia, Ireland, and New Zealand.
USA: The United States of America has been at the forefront of education for years. Its world-class education system, the availability of the most unique and broad range of courses, and rich history and attractions, never fail to impress. No wonder why international students every year choose to get the benefits of studying in the USA. If you are leaning toward studying in America as an Indian student, make sure you have an idea about the estimated overseas education expenses that entail as
Tuition Fees:
- For undergraduate courses: An approx of USD 20,000 to 40,000 per year (~Rs 15 to 30 lakhs per year)
- For post-graduate courses: An approx of USD 20,000 to 45,000 per year (~Rs 15 to 35 lakhs per year)
- For doctoral (Ph.D.) courses: An approx of USD 25,000 to 55,000 per year (~Rs 20 to 42 lakhs per year)
Cost of living: As an international student, you would need approximately USD 10000 to 18000 per year or USD 1000 to 1500 per month, which translates to Rs 7-14 lakh per year or Rs 70k -1k per month.
UK: UK universities bustle with international students, all attributed to its world-class education quality. Several higher education institutions in the UK rank among the top in the world ratings. Degrees earned from these universities get recognized among the top leading companies and peers. The post-work visa rule, the scholarships, and financial aid offered by these institutions make the UK worthwhile exploring while keeping the budget in check. If you want to study in the UK, consultants can be a great resource to reach out to and get assistance in your preparation and budgeting.
Tuition Fees: The tuition fee in the UK varies with the place of study as England, Northern Ireland, Wales, and Scotland have different laws & regulations. Also, with the level of studies such as Bachelor’s, Master’s, and doctorate.
- For undergraduate courses: An approx of £10,000 to 38,000 per year (~Rs 10 to 37 lakhs per year)
- For post-graduate courses: An approx of £16,000 to 30,000 per year (~Rs 15 to 30 lakhs per year)
- For doctoral (Ph.D.) courses: An approx of £16,000 to 24,000 per year (~Rs 15 to 23 lakhs per year)
Cost of living: as an international student, you would need approximately £13000 to 15000 per year or £1100 to 1300 per month. It translates to nearly Rs 12-14 lakh per year or Rs 1k -1.5k per month.
Australia: It is one of the popular destinations to study and travel to. The higher education system, world-class institutions, and the envious relaxed lifestyle compel the students to choose Australia as their next study destination. Melbourne particularly attracts most of the crowd for being the most livable city in the world. Besides, Australia offers loads of opportunities that students can grab and tackle those hefty education loans and finance for studies abroad. If it’s your dream to study in Australia, consultants at Vision international will help guide you in the right direction.
Tuition Fees:
- For undergraduate courses: An approx of 20,000 to 45,000 AUD per year (~Rs 11 to 25 lakhs per year)
- For post-graduate courses: An approx of 22,000 to 50,000 AUD per year (~Rs 12 to 28 lakhs per year)
- For doctoral (Ph.D.) courses: An approx of 22,000 to 50,000 AUD per year (~Rs 12 to 28 lakhs per year)
Cost of living: As an international student, you would need approximately USD 10000 to 18000 per year or 1,400 and 2,500 AUD per month, which will vary depending upon the city you choose. It translates to Rs 5-10 lakh per year or Rs 80k -1.2k per month.
Canada: Canada takes the lead as the most preferred study abroad destination among international students. With a multicultural community, and a welcoming atmosphere, Canada is the safest and friendliest country to study as an international student. The country’s education level is compared to that of the USA but with a difference that education in Canada is affordable. Besides, there are a whole lot of work opportunities that make studying abroad a dream quite easy to realize. If Canada is your dream destination, here is an approximate outlay for you:
Tuition Fees:
- For undergraduate courses: An approx of 550 to 30,000 CAD per year (~Rs 34K to 18 lakhs per year)
- For post-graduate courses: An approx of 1,075 to 65,000 CAD per year (~Rs 66K to 40 lakhs per year)
Cost of living: As an international student, if you choose to stay in cities such as Quebec, Montreal, and Ottawa, you would need approximately 9500 to 18,000 per year or 800 to 1,500 CAD per month. If you choose expensive cities like Vancouver and Calgary, the living cost can go up to 2,000 CAD per month. It translates to Rs 5-11 lakh per year or Rs 50k -90k per month.
Ireland: Known by the name Emerald Isle, Ireland is one destination that has the most to offer to students. With a friendly and liberal environment, education system par excellence, and picturesque places, Ireland unleashes a student potential with an unmatchable experience. Irish institutes follow the British education system, making it one of the highly regarded ones where students can study just about any degree. It’s no wonder Ireland welcomes thousands of students from around 160 countries every year to experience its rich culture & high-quality education.
Tuition Fees: The tuition fee to study in Ireland university will depend on the course and level of study a student opt for.
- For undergraduate courses: An approx of €9,500 to 25,000 per year (~Rs 8 to 20 lakhs per year)
- For post-graduate courses: An approx of €9,500 to 35,000 per year (~Rs 8 to 30 lakhs per year)
- For doctoral (Ph.D.) courses: An approx of €9,500 to 35,000 per year (~Rs 8 to 30 lakhs per year)
Cost of living: as an international student, you would need approximately €9600 to 14400 per year or €800 to 1200. It translates to Rs 8-12 lakh per year or Rs 66k -1k per month.
New Zealand: With an excellent education system, internationally acclaimed qualifications, various research opportunities, and welcoming kiwi culture, New Zealand has become a center of attraction for international students. As a result, every year, Australian universities welcome a vast number of students looking to study and travel there. While studying in New Zealand, you get an experience that will twist your thoughts in a good way.
Tuition Fees:
- For undergraduate courses: An approx of NZ$22,000 to 32,000 per year (~Rs 11 to 16 lakhs per year)
- For post-graduate courses: An approx of NZ$26,000 to 37,000 per year (~Rs 13 to 18 lakhs per year)
- For doctoral (Ph.D.) courses: An approx of NZ$6,000 to 9,000 per year (~Rs 3 to 4.5 lakhs per year)
Cost of living: as an international student, you would need approximately NZ$ 13,000 to 16,000 per year or NZ$ 1000 to 1300 per month. It translates to Rs 6.5 to 8 lakh per year or Rs 50 to 65k per month.
We hope these details will help you plan your study abroad journey affordably and with ease. If there is anything more you wish to get help with, you can always reach out to Vision International to get complete assistance on why, where, and how to study abroad.
.
