One of your most-searched questions that demand well-researched and accurate answers would be regarding the cost of studying abroad in your dream destination. From the bustling streets of Manhattan to the rolling meadows in Ireland, appealing as these places are, it would be worth the investment only if you plan your finances meticulously.
The cost of living and education are two of the most important components of studying abroad - while your scholarships and bursaries can help to make the education costs manageable, the living costs still need to be planned to the T.
It sounds like quite the task, doesn't it? But worry not. We've put forth quite the article here for you by discussing the living costs in each of these top study destinations - Australia, the UK, the USA, and Ireland.
Let's get started!
Table of Contents
Components Involved in the Cost of Studying Abroad
What are the components involved in studying abroad? Starting from education costs, the rent you pay for accommodation and food expenses to travel, internet, leisure and entertainment, there will be avoidable and unavoidable expenses to support your stay in the country.
Here, we'll make an estimate of the cost of living and education expected to be incurred in each of these countries!
Cost of Studying Abroad - Australia
S.no | Components | Cost Involved (USD) |
1 | Tuition Fees | Undergraduate: $15,000 - $33,000 annually Postgraduate: $20,000 - $37,000 annually Diploma: $4000 - $22,000 annually |
2 | Housing | Hostels and Guesthouses: $90 - $150 per week Shared Rental: $95 - $215 per week On campus: $110 - $280 per week Homestay: $235 - $325 per week Rental: $185 - $440 per week Boarding schools: $11,000 - $22,000 a year |
3 | Food | $140 - $280 per week |
4 | Transportation | $30 - $60 per week |
5 | Medical Insurance | Minimum OSHC $452/year for singles cover |
6 | Visa | $575 for student visa |
7 | Entertainment | $80 - $150 per week |
Benefits:
- Many top Australian universities are a part of the Top 100 QS World University Rankings list. They are well known for their research and world-class learning facilities.
- According to QS Best Student Cities Rankings 2022, Melbourne, Sydney, Canberra, and Adelaide are some of the most student-friendly cities in the world.
- A laid-back lifestyle with beaches and natural delights make Australia one of the most interesting study-abroad destinations.
Read More: Study In Australia
Cost of Studying Abroad - UK
S.no | Components | Cost Involved (in Pounds) |
1 | Tuition Fees | Undergraduate: £10,000 - £26,000 annually Postgraduate: £11,000 - £30,000 annually Diploma: £18,000 annually |
2 | Housing | £350 - £550 per month if you prefer outside accommodation |
3 | Food | £50 - £75 per week |
4 | Transportation | £30 a month |
5 | Medical Insurance | £470/year for your Immigration Health Surcharge |
6 | Visa | £348 for student visa |
7 | Entertainment | £30 - £50 a month |
Note: You will be taxed at 20% on earnings (from part-time jobs) more than £12,570 a year.
Benefits:
- The UK is home to some of the top universities in the world with exemplary teaching and research facilities, enabling a global learning experience for international students and helping them achieve their career objectives.
- Most universities in the UK have partnerships with leading corporates that conduct campus interviews to select talented graduates with a passion for learning and evolving in a competitive environment.
Read More: Study In United Kingdom
Cost of Studying Abroad - USA
S.no | Components | Cost Involved (USD) |
1 | Tuition Fees | Undergraduate: $20,000 - $40,000 per year Postgraduate: $20,000 - $45,000 per year Diploma: $28,000 - $55,000 per year (Most doctoral degrees are 100% funded through research/teaching assistantships and research aid) |
2 | Housing | On Campus: $800 - $900 each month Homestay: $600 - $3,000 per month Rental: $450 per month |
3 | Food | $150 - $200 a month |
4 | Transportation | $80 - $100 a month |
5 | Medical Insurance | $30 - $140 a month |
6 | Visa | Visa cost: $350 Visa Application Fee: $160 |
7 | Entertainment | $150 a month |
Benefits:
- Many American universities are in the Top 100 QS World University Rankings list as well and are known for their research, infrastructure and world-class learning facilities.
- Career opportunities and higher education abound in the USA; it is one of the hottest study-abroad destinations of all time.
- The USA provides a multi-cultural and diverse environment that's inclusive of minority communities to help international students manage the hassles of living abroad.
Read More: Study In United States
Cost of Studying Abroad - Ireland
S.no | Components | Cost Involved (in Pounds) |
1 | Tuition Fees | Undergraduate: €9,850 - €20,250 per year Postgraduate: €9,950 - €35,000 per year Diploma: €4,000 - €9000 |
2 | Housing | Hostel: €200 - 300 per month Apartment: €400 - €900 per month |
3 | Food | €250 - €350 a month |
4 | Transportation | €50 - €55 a month |
5 | Medical Insurance | €150 - €180 per year |
6 | Visa | Visa cost: €250 |
7 | Entertainment | €60 - €100 a month |
Benefits:
- One of the significant perks of studying in Ireland is the cost-effectiveness. The cost of living in Ireland is more affordable compared to the UK, the USA and Australia, making it one of the top countries to study in Europe.
- With a friendly, welcoming environment and scenic natural beauty, Ireland is known for its rich quality of life, thus becoming a much-preferred choice in recent times for international students to fulfilling their career dreams abroad.
Read More: Statement of Purpose for MBA Courses
