Cost of Living Comparisons for Popular Study Abroad Destinations

Why do individuals study abroad?

• Experiencing foreign cultures
• Becoming self-sufficient
• Understanding new perspectives
• Improving interactive skills
• Expanding professional prospects
• Getting prepared to work internationally

Cost of Living Comparisons for Popular Study Abroad Destinations

Being able to afford the costs of studying abroad is on the minds of most aspiring scholars. Unlike before, studying abroad has become an important value-add to the CV of people joining the global workforce.

It is not only students from Asia and Africa who wish to study overseas, individuals from advanced nations in the West also feel the need to do it as it benefits them in the long haul.

All these people consider the expenses they would have to bear while pursuing education in a foreign country, including tuition fees, living costs, and other miscellaneous expenditures.

That is why they feel the need to compare the total costs of studying and staying in one destination to another. These costs, as we know, vary depending on the type of course, the nature of accommodation, and the location.

The tuition fees vary from bachelor’s to master’s to doctoral programs. The largest numbers of people who go abroad usually do so for master’s programs.

Here are the approximate tuition fees you have to bear per year if you want to study in some of the popular study-abroad destinations.

Tuition fees based on course

Certain countries charge consistent tuition fees, whatever the subject. But in other countries, it varies from one discipline to another.

The cheapest tuition fees are charged for courses in subjects such as languages, education, mathematics, and philosophy, among others.

On the other hand, the tuition fees you have to pay the most are for subjects, including engineering, medicine, management, physical sciences, and humanities.

Housing costs

After tuition fees, the second-largest expenditure for students abroad is on accommodation.

Here are the estimated fees you need to pay for your accommodation per year in some of the desired study abroad locations per year.

If you want to stay in affordable accommodation, try applying for a slot in the residence halls of universities or colleges. Most of them offer rooms to suit different budgets.

In case you want a place of your own as you value privacy, find an apartment or a private residence on the outskirts of the city. Most properties close to the central business districts in a city are usually on the expensive side. If possible, try renting accommodation in a small town or a village which has good connectivity with the university or college.

If you find a friend with a similar mindset, try sharing the private accommodation with that person. That way, you will be sharing rental charges and expenditures for monthly utilities.

Otherwise, there is another option. You could stay as a house guest with a family residing close to your educational institution. You can pay a lump sum amount for your stay as well as utilities. Staying with a local family will acclimatize you to the country faster.

Also, many universities and colleges provide assistance to help their international students search for accommodation and negotiate prices on their behalf.

Traveling costs

When you travel around the city or town that houses your university, you would have to depend on public transport or a bicycle. In case you want to use public transport, it is better to buy monthly passes for travel rather than spending that amount on buying tickets for every trip.

Health insurance

Most countries need international students to buy the local health insurance package of that country. Before that, compare the prices along with the benefits that each of the private health insurance companies offer.

The approximate health insurance costs per year you would have to bear in each of the countries are as follows.

Tips to save money

Students wanting to reduce their expenditure can make use of the following tips. If you pay your tuition much earlier, certain educational institutions provide discounts ranging from 5 to 15 percent to students.

If you want to study remotely from your home, your tuition fees would be significantly less, and accommodation is something you would not have to think about at all.

If you work while you study during your stay abroad, you can pay for a portion of your expenses. Most countries allow students to work up to 20 hours per week when the term is on and full-time during vacations.

If you have been dreaming of studying abroad in one of the popular study destinations globally, get in touch with Y-Axis, a premier overseas immigration consultancy, to make them come true.  

HOW CAN Y-AXIS HELP YOU?

Y-Axis streamlines the process of studying in the country of your choice with our student-first solutions. We will help you with:

• Informed advice
• Dedicated study abroad consultant
• Detailed report on your options
• Help in shortlisting courses and colleges
• Your next steps to study abroad
• Free career counselling

Talk to our counsellors to understand your study abroad options.