Many students and even professionals move abroad for better education to enhance career prospects. Studying in foreign can have multiple benefits. This ranges from getting quality education to good job positions in renowned companies. People want to study in international colleges owing to exposure to varied experiences that enhance soft and technical skills.
But whenever you think about international studies, one of the major concerns is costs. The expense of international studies will be higher than in a national university or college. Hence, to understand expenses, people usually plan and identify costs. This article will give an idea of an approximate cost of studying abroad.
Factors that affect the cost for studying abroad
The average cost for studying abroad can vary depending on different factors. Thus, the expense for everyone will also vary. Brief descriptions are given of different factors that impact costs.
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Visa fee
Visas provide you access to foreign countries. Thus, it is a necessary expense. Also, because countries charge differently for visa applications, although the charge varies, the average cost of applying for visa fees can range between 10,000-50,000.
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Course
After paying for your visa, the next big expense will be the course. The course fees will also vary as per your domain. If you opt for technical courses like engineering, MBA, Graphic designing, etc., your cost of studying abroad will be higher.
Also, remember, before selecting the course, you will be required to give entry-level exams like English, Aptitude, and others. For which the universities also charge some fees.
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Tuition fee
The tuition fee is also vital in determining your study cost abroad. Tuition fees vary from one institute to another that influences the cost for studying abroad. The tuition fees also vary per rules and regulations and country-specific factors. For example, all medical-related courses in Ukraine are less expensive than in other countries.
In Germany, the majority of education in the country is free or provided at very low costs. Thus, you must select universities and countries by comparing different elements.
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Transportation
There are many types of transportation expenses that you must consider as the cost for studying abroad. This should include flight costs, average daily transit, and impact on the overall cost of living.
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Living
You will agree that living costs cannot be ignored when residing in another country. The currency plays an important role in determining the cost for studying abroad. The cost of living will typically include rent, food, lodging, medical expenses, and transit costs. For instance, living in Canada, US or U.K. is less expensive as compared to other countries.
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Accommodation
Accommodation is also a significant factor that affects the cost of studying abroad. For example, many universities provide hostel facilities that charge higher accommodation costs. In many countries, staying alone in a rented apartment is also very expensive. So, it would help if you searched for the best options that align with your budget.
The average cost for studying abroad country wise
As we have already mentioned, the cost of studying abroad can vary depending on several factors. So, pursuing higher studies in a different country has its relative expenses. So, here we will share the average cost of studying abroad, country-wise, for your knowledge.
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Canada
Canada is one of the popular foreign countries chosen by international students to study abroad. Canada is famous for providing world-class education at an affordable price. The country houses several top-ranked universities and educational institutes with lower tuition fees, living costs, and excellent work opportunities. Canada is also known for its student-friendly post-course programs and safe environment that helps to cut down the cost of studying abroad. In addition, Canadian universities follow U.S. educational and academic patterns. So, it is an ideal place for those who find studying in the U.S. expensive.
- Cost of studying undergraduate – The price of undergraduate programs in Canada starts from 2.5L INR.
- Cost of studying postgraduate – The cost of pursuing postgraduate programs starts from 5.5L INR.
- Living cost – A student’s living cost in Canada is around 5.5L INR per year.
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United States
The USA is another popular place among international students, which is due to its world-class education facilities. It is also probably the first name whenever anyone thinks of studying in foreign country. This is because the cost of studying abroad in the U.S. can be effectively covered with part-time working opportunities and available scholarships. The U.S. is also famous for its wide array of specialized courses that provide lucrative career opportunities. For this reason, many students dream of taking admissions.
- Cost of undergraduate programs – The average price for undergraduate programs in the U.S. is around 15L INR per year.
- Cost of postgraduate programs – The average price of studying doctoral\PG programs in the U.S. is around 25L INR.
- Cost of living – The average cost of living in the USA is around 850 USD-1000 USD per month. So, one may need 7L INR to cover the living cost yearly.
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United Kingdom
Another place that is most aspiring among international students is the United Kingdom. The U.K. is known for its globally recognized universities, colleges, top-quality education, and cost-effective courses. As a result, the degrees earned from U.K. universities hold a substantial value worldwide. In addition, U.K. universities offer shorter-term courses than other global universities. Also, financial aid and scholarships in the U.K. are a plus point for international students.
- Cost of undergraduate programs – The average price of undergraduate programs in the U.K. is 12L INR to 25L INR.
- Cost of postgraduate programs – The average price of P.G. programs in the United Kingdom are around 12.5L INR to 29L INR.
- Cost of living – The average cost of living within the city limits of London is less than residing in the outskirts. For example, you may need to spend around 9L if you stay in London. Although if you choose to stay outside London, your cost of living will be higher, costing around 12L INR. Also, the cost varies on the accommodation type you choose.
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Australia
Australia is another top destination amongst international students. The country is well-known for some of its top-ranked universities in the world. Also, the living standard and affordability are other perks of studying in Australia that attract many aspiring students yearly. In addition, the degrees earned from the top eight universities in Australia have significant value worldwide.
- Cost of undergraduate programs – The cost of undergraduate programs in Australia is around 15L per year in a regular university. But if you are admitted to any of the top eight universities, your expenses can be around 25L per year.
- Cost of postgraduate programs – Similarly, enrolling in a regular university for P.G. programs in Australia are around 16L INR, and it will be around 27L INR in the top eight universities.
- Cost of living – The living expense in Australia is around 12L INR per year. For students. However, it can vary depending on the accommodation type you choose.
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Ireland
Ireland is also an English-speaking country famous for its warm and welcoming native people. Also, Irish universities and institutes hold the heritage and offer premium quality education. Since North Ireland is a part of the U.K., they follow the same academic pattern as the United Kingdom. The country provides various cost-effective course options for international students. Hence, reducing the cost of studying abroad for many students. Irish universities are designed considering culture and heritage, which makes them photogenic landscapes. This also attracts many international students who want to experience heritage.
- Cost of undergraduate programs – The cost of studying for an undergraduate program in Ireland is around 8L INR to 20L INR.
- Cost of postgraduate programs – The average cost of studying a postgraduate program in Ireland is around 9.5L to 22L INR. But MBA programs may have a higher price, like 30L INR per year.
- Cost of living – A student’s cost of living in Ireland can be anywhere between 6L INR to 9L INR. It primarily depends on the location and accommodation type you choose to live in. For instance, living in Dublin is more expensive than in other places.
Conclusion
Cost of studying abroad is more than the national universities. This includes the institute’s tuition fee, flight tickets, and accommodation. You need to consider all the factors that help determine the overall expense of international studies. This would typically include expenses related to living expenses, regular transit, food, and much more.
It would give you a clear understanding of the money you need to fund your education abroad. You must also apply for an international debit or forex card. This can effectively reduce some extra expenses/ or charges you may face while making payments in a foreign currency during your stay in a foreign country. This article will help you find the probable costs of pursuing higher studies in overseas countries, like the U.K., the USA, and many more.
