Studying abroad is more expensive than studying at home. One of the important factors that international students use to compare study abroad is the cost of study. Different countries have different fee structures, education systems, the value of currency etc. So it is better that you calculate the total cost of study first and then round the country.
Significant Cost Factors to Study Abroad
There are many elements to consider when calculating the total cost of studying abroad. These elements are mentioned below:
Tuition fees: The first major expense of studying abroad is the tuition fees of the foreign university. The cost depends on the university you choose to take your preferred course. Public universities have low tuition fees compared to private universities as public universities receive funding from the government. However, the quality of education remains the same depending on which country you choose.
Accommodation/housing costs: After considering tuition fees, the bulk of your total cost of studying abroad is your living expenses. Housing or accommodation costs are the main concern for any student going to study abroad. However, not every student gets the chance for university housing. They have to shelter in rented places.
Life costs: These costs include your meals, groceries, telephone costs, electricity bill, internet costs, etc. In short, your daily expenses are included. It depends on the location you choose to stay and the way of your lifestyle. Many international students try to make a living by working part-time alongside their studies as much as possible. However, part-time work has its limitations for different countries.
Study costs: To study in a foreign university, you need to spend some money on your course material and project world. For a theoretical course, you need books that you can sometimes borrow from the library or buy second-hand. For hands-on courses, you will need to purchase materials to create the projects.
Visa costs: To study abroad you will need a student visa to enter the new country. To apply for a student visa, you have to pay some money. Each country charges different visa application fees. So when calculating the cost of studying abroad, student visa fees should also be factored in.
Health insurance costs: It is mandatory to take out health insurance for studying abroad. Even for the visa application, you have to submit your health insurance documents to get approval. Different countries have different insurance costs. For example, it would cost about 29.10 euros per month for studies within Europe, 70.03 $ in the US etc.
transport: After tuition and living, transportation is one of the most important expenses students should include when planning their study abroad cost plans. In addition to flight costs, you also need to consider the travel costs of your daily life in a new country.
How much does it cost to study abroad in Australia
The fee structure of universities in Australia is such that it gives its students proper practical knowledge and the fee is worth it. Studying in Australia can be quite expensive, but you will definitely get an education that is appreciated all over the world. The tuition fees can be on average:
For Bachelor in Australia
$15,000 to $33,000 per year
For a masters degree in Australia
$20,000 to $37,000 per year
For a PhD in Australia
$14,000 to $37,000 per year
Along with tuition fees, the other expenses for studying in Australia are tabulated here with their average cost amount:
Accommodation in Australia
500 – 2,000 AUD per month
Food costs in Australia
100-200 AUD for a week’s worth.
Transport in Australia
30 to 70 EUR
500-1,000 AUD in a year
AUD 25-30 per month
For more information, visit: Cost of Studying in Australia
How much does it cost to study abroad in Italy
Italy is one of the most affordable countries to study abroad. Tuition fees in Italy are lower than in most other countries in Europe. Institutions that provide higher education usually determine their tuition fees. But for university education, the Italian government sets the minimum and maximum limits of the fee structure. The private institution is much more expensive than the public institution. Here is an average tuition fee you can expect to study in Italy:
In public universities
900 to 4,000 € per year
In private universities
6,000 to 20,000 € per year.
Italy is one of the cheapest countries to study abroad in Europe. The cost of living while studying in Italy depends on the location you choose to stay and the standard of living. But you can expect on average:
Accommodation in Italy
200 to 300 euros per month
Cost of food in Italy
Minimum 150 euros per month
Transportation in Italy
25 and 35 euros per month
30 or 40 euros per week
30 or 40 euros.
You will get full information here: Cost of studying in Italy
How much does it cost to study abroad in France
Education costs in France are lower compared to other top study destinations such as the US and UK. The cost of study in France differs with the specific program you choose. The cost of a foreign university in France for a private institution is higher compared to public institutions. The average tuition cost for another level is of course:
For Bachelor (Licence) programs
2,770 euros per year
For master’s degrees
3,770 euros per year
For doctoral programs (PhD).
380 euros per year
The above values refer only to public universities. Tuition fees at private universities can be higher than this. They can range from 3,000 to 20,000 euros per year.
The amount you spend each month on living in France directly depends on your lifestyle and the place where you want to live. To make your job easy, we have prepared a list of expenses to consider when calculating the total cost of studying in France.
Student housing in France
200 – 300 EUR per month.
Cost of food in France
200-250 EUR per month
Transportation in France
17 and 33 euros
Health care insurance
20-50 EUR per month
Cost of Student Visa in France
For a detailed cost analysis, check this: Cost of Studying in France
How much does it cost to study abroad in Spain
Tuition fees in the universities in Spain are determined by the Pay-per Credit system. Spanish General Assembly for University Policy regulates the cost structure of all universities. The governing body sets the minimum and maximum fees, based on each region across the country. Your tuition fees are on average:
For bachelor’s degrees
750 – 2,100 EUR per year
For postgraduate and masters programs
900 – 3300 EUR per year
Spain is generally an affordable country. It is one of the cheapest countries to study in Europe. Here is the average amount of expenses you need to budget to study in Spain:
Accommodation in Spain
350- 800EUR per month
Cost of food in Spain
200 EUR to 300 EUR per month.
Transport in Spain
60 euros per month
200 euros per month
For complete information, read this: Cost of Studying in Spain
How much does it cost to study abroad in Germany
You will find the cheapest study abroad programs in Germany as public universities do not charge tuition fees. They only charge administration fees. However, private universities charge tuition fees from international students. Here is the average tuition fees at the universities in Germany:
€250 per semester for administrative costs at the public university, as there is no tuition fee.
EUR 26,000 per year to private universities
€20,000 per year to public universities
up to €30,000 to private German universities
€ 250 administration costs
During your studies in Germany, you have to pay other expenses in addition to tuition fees. The average cost of studying abroad in Germany is:
For food and drink
For telephone, internet and TV license
For work/study material
For leisure activities
For more information, you can check this page: Cost of studying in Germany
How much does it cost to study in Canada
The cost of study in Canada is lowest in English-speaking countries like the United States, the United Kingdom or Australia. Universities in Canada have the right to set their fees. The tuition fee depends on the study program you choose and the international students pay more than domestic students. Tuition fees can vary.
Public Universities in Canada
5000 CAD per year
Private Universities in Canada
C$20,000 to C$30,000 per year
The cost of living varies with location. Certain regions in Canada are more expensive than others. Vancouver maintains its position as the most expensive Canadian city to live in, while Quebec has significantly lower prices. The average figures for various expenses in Canada are:
Accommodation in Canada
In Toronto CAD 1080 to $2900 per year.
In smaller towns such as St John’s, NewfouCAD 150D 710 per annum.
Montreal and some parts of Quebec can have CAD 550.
CAD 200 to 400
Miscellaneous (electricity, water, heating, etc.)
About CAD 150 per month
Canadian Student Visa Fees
International student health insurance
600 CAD to 900 CAD
Here is the complete guide for you: Cost of Studying in Canada
Arrangement of funds to cover your costs of studying abroad
You need more money to study abroad than to study in your home country. You can try to arrange money in the following ways:
sponsorship – You can contact the sponsoring parties to finance your study costs abroad. You have to research well. Maybe your family or friends can help you with this. You can also find an organization for it.
Scholarships – This is the best way to cover your partial or total costs. You can take advantage of the various scholarships available to study abroad. You can find scholarships in your home country, but also in your country of study. Numerous scholarships are offered by the country’s governments, international universities, and outside organizations.
Student loan – This is the most preferred method of arranging funds for study abroad. You will receive full payment for the entire course. You only have to pay some interest, even after completing your studies. You can get a student loan in your home country as well as for your studies abroad. For this, you have to fulfil some formalities.
Part-time work – If you are unable to obtain scholarships, you can work abroad during your studies. In many countries, international students are allowed to work part-time alongside their studies, unless this does not affect their studies. You meet new people and learn new things.
Cheapest countries in the world to study
If you can’t afford to study cheap countries, try to find cheap countries to study abroad. Here we have made a list of countries that are cheaper than others:
So, we hope that in this article you got your answer to How much it cost to study abroad. Check the costs for that specific course before applying to a university. If you’ve decided to study abroad, don’t take a step back. Manage your money and make your dream come true.
Kenneth Olivia is a passionate writer who studied mass communication in University of Jos, there he gain his BSC and afterward decided to make a great impact in the world by teaching people about the importance of education and how the can get quality education no matter their background and what ever financial background the come from.