How Much Does it Cost to Study Abroad?

How Much Does it Cost to Study Abroad?

There are many students who wish to acquire higher education from a reputed university in a foreign land, especially at a Masters level. Securing admission is not easy, but if you are willing to put in efforts, you can get through the selection process. This is not as troublesome as arranging funds for the programs. The questions ‘how much does it cost to study abroad’ and ‘how can the tuition fee be paid’ nags most of the students’ minds.

The cost of studying abroad varies with each university and region. It also depends on the subject chosen and the duration of the program.  The rates for science and technology programs are usually higher than business and art programs. Studying in Europe is more expensive than studying in other regions. There are some universities which include accommodation, meals and other general costs into a single rate but some only ask for the tuition fees and the rest of the expenses have to be covered by the students themselves.

There are other factors as well which affect costs so make sure you include them when you calculate your budget. Currency conversion rate is an important issue, and it greatly affects your expenditures. You will have to arrange for a ticket, passport and visa. Phone bills, computer, books, medical and even entertainment will also add to your total expenses.

A comparison of the expenditures associated with education and living in America, England, Canada and Australia is given below.

Country

Tuition fee

Accommodation

US (US Dollars)$12000 – $19000$4800
UK (Pounds)£8000 – £15000£7000
Canada (Canadian Dollars)$4000 to $17000$7200
Australia (Australian Dollars)$10000 – $25000$10000

 

  • Rates are given in local currency and on a yearly basis
  • Values are only averages and quoted here for reference only
  • Other expenses such as food, medical and travel vary considerably and have not been mentioned

If you cannot afford your fees, then search for Scholarships Programs and Need – Based Finance Schemes. There are plenty of these available for every university and can reduce the burden off your shoulders. If you avail any of these, you can concentrate on your studies and erase the questions ‘how much does it cost to study abroad and how can these expenditures be met’ off your mind.

 

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