Cost of Studying Abroad – Combat Myth and Take the Right Step

Quality education abroad, being the best asset to your child’s future, can be obtained by taking the right step at the right stage of your child’s education-timeline. The study shows that the cost involved in studying abroad is one of the major factors in not taking the step to pursue education abroad. The process overwhelms as each country, university, program, degree-format, involves different tuition fees, variable living expenses, and other miscellaneous costs that hinder you from getting a concrete translation of the expenditure. 
Expenses involved in studying abroad, at an elementary level of understanding, may seem exorbitant, however, priority planning can make it reasonable. Our Consultants at GoToUniversity possess the expertise to impeccably plan vital turnaround actions on your child’s education-timeline to make this journey seemingly smooth. In this article, we unwrap the facts related to the expenses involved in the process of studying abroad.

As per the recent surveys, the cost of studying abroad is between USD 12,000 to 40,000. The expenses involved in studies vary of factors such as countries, programs, and course duration. Cost of studying includes both tuition fee and living expenses

Average Cost of Studying Abroad in the USA

The average tuition fee to study in the USA is around USD 12,000 to 40,000. Accommodation and other costs will be approximately up to USD 15,000.
We can hypothetically say the average cost to study in the USA per year is around  USD 35,000 to 60,000
.

Cost of Studying Abroad in Canada for International Students

International student's average cost of studying in Canada varies from CAD 14,000 to CAD 25,000. However, the tuition fee completely depends on the program discipline.
The living cost and other miscellaneous expenses are between CAD 10,000 to 15,000.

Cost of Studying Abroad in the UK

The UK is well known for its medical programs. medical courses are expensive compared to other disciplines.
The average cost of studying abroad in the UK ranges from GBP 12,000 to 30,000. The living cost is high compared to other European countries. Cost of living for international students in approx GBP 12,000

Cost of Studying Abroad - Europe

Europe is a preferred destination by international students as the cost of studying abroad & the cost of living is low compared to other western countries.
The average tuition fee to study in Europe is approx EUR 15,00 and with a reasonable cost of living of EUR 8000

 

 

 

Tips to Reduce your cost of studying

The average cost of studying abroad at the most sought-after destinations:

Country

Average tuition fee (per year)

Average cost of living and other miscellaneous expenses (per year)

 

The United States of America

 

USD 12,000 – USD 40,000

 

USD 10,000 – USD 15,000

 

Canada

 

CAD 14,000 – CAD 25,000

 

CAD 10,000 – CAD 15,000

 

The United Kingdom

 

GBP 12,000 – GBP 30,000

 

GBP 7,000 – GBP 12,000

 

Australia

 

AUD 25,000 – AUD 45,000

 

AUD 18,000 – AUD 22,000

 

New Zealand

 

NZD 15,000 – NZD 25,000

 

NZD 12,000 – NZD 17,000

 

Germany

 

EUR 300 – EUR 15,000

 

EUR 10,000 – EUR 13,000

 

Ireland

 

EUR 11,000 – EUR 18,000

 

EUR 7,000 – EUR 12,000

the real cost of studying abroad

The Huge fat myth is ‘the study abroad programs are too expensive’ however there are many facts that counter this myth. Most dominant ones are.

1)      Selection of right university - Choosing the right type of institution to graduate can make a hell lot of difference to your budgeting. In case you’re planning to study in the United States, choosing community and public colleges over private colleges can nearly save USD 10,000 per year. 
2)      Need-based and Merit-based Scholarships - A part or whole of your expenses can be complemented with various scholarships offered to international students. Every country has a dedicated fund to giveaway to international students, for instance - Canadian Universities offer a range of scholarships to Bachelors, Masters and Doctoral applicants through programs such as Government of Canada International Scholarships, Vanier Canada Graduate Scholarships, Canadian Queen Elizabeth II Diamond Jubilee Scholarships and many more. 
3)      Avail Student loans - The most distressing factor is, the expenses that don’t equate to funds available for your child’s education abroad. Availing a student loan in the home country or the country where you would want your child to graduate has never been this easy. Like every other country, the UK offers state-governed student loans which can be either availed as a tuition fee loan or maintenance loan which needs to be repaid only after your child starts working and the repayment premium would be as per the salary earned. 
4)      Pay only when required - Deciding when to pay for what? can simplify the whole stress of having to bear a huge chunk of money, all at once. As this is a long process with multiple steps involved, it begins with paying for documentation, followed by application, tuition fee, visa, accommodation, airfare, and finally shouldering living expenses. Set a timestamp for each of these payments and arrange funds accordingly. That way rest assured as you’re ahead of the game at any point.

Get help with study abroad cost & tuition fee 
How GoToUniversity Can Help you Reduce Your Study Abroad Cost

Using the experience, earned over years, from first-hand interaction with students and parents from every nook and corner of the world, the GoToUniversity platform is devised to be flexible to incorporate changing needs and be up-to-date to bring the latest of the information to create an effective timeline plan to achieve your child’s university dream. The process has been exclusively designed to meet and implement A to Z requirements and actions to meet your college application goals.

We understand that it’s not just a transition from school to university or from university to university but also a transition from being wise to wiser. We aim to create awareness of the process and to educate on the benefits of studying abroad. The process outlined enriches your experience throughout the journey by setting the right expectation.

A Rough Outline on a Typical GotoUniversity Consultant’s Approach to your Study Abroad Application:

Career Counseling – Our consultants conduct brainstorming sessions to help you choose the right program considering your child’s strengths, current trends and sustainability.
Profile Building – One of the major aspects where our consultants with their expertise layout a map to bridge the gap in your profile to meet your program requirements.
Selection of University and Destination – We understand how crucial this step is, universities and countries will be shortlisted considering various parameters such as program ranking of the university, safety, budget, job opportunities, and many more.
Standardized tests – As this is an important part of your application, our consultants help you analyze your current level and set a target as per what is required for your profile and the program that you’re aiming to apply to. You will also receive a customized roadmap on what should you do to achieve the target? and by when should you take the test? These tests may include the SAT, GRE, GMAT, IELTS, TOEFL, PTE, etc.
Scholarships – As part of the process, we educate you on the kind of scholarships and financial aid that you can contest to complement your expenses.
Documentation – As per the program, university, and destination selected, we provide a checklist of the documents that are required to sail the process smooth. 
Application – Till now we were only working on setting the stage ready, this is the step where everything that you have worked on till now will come together. We help you apply well before the deadline by making sure that your application is free from errors.
Offer letter – Our consultants help you choose the right offer when you have multiple offers in hand as this decision majorly shapes your child’s future.
Visa – You are not on your own yet as we also guide you on how to go about getting a visa.
Accommodation – Finally, we help you choose the right accommodation for your child to feel belonged and comfortable.
Running against time while applying to universities can be taxing and that is when the majority of parents and students drop the idea of pursuing the dream further. Overall, plan well in advance. Take experts’ guidance to get clarity on everything during the process. Be informed of what would be the program’s expectation in terms of funds and set an appropriate timeline with experts’ guidance to arrange and manage funds as bite-sized-pieces can serve as a bridge to reach your goal. 

 

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