Average Cost to Study Overseas

Studying overseas is a really good opportunity for students to learn a new language or improve their English. They will also be exposed to different culture and might even have a chance in working overseas. However, studying overseas can be very costly and comparing the average costs among different countries can be very tedious and time consuming. Thus, we have summarised the average cost to study overseas in popular destinations such as Singapore, United Kingdom, United States and Australia.

Tuition Fees

The annual tuition fees incurred by someone can vary greatly according to the country, university and course picked. For example, a medical degree in US can cost several thousand more than a business degree in UK. US is known for having an exorbitant tuition fees, especially in the ivy league, where the annual fee can reach up to $90,000. Therefore, it is very important for you to research the exact fees that you will be paying for the school and course of your interest.

Refer to the table below for a rough estimations of the annual fees to get a degree in these countries.

Living Expense

The cost of living in each country is also another essential information that you should know when preparing your budget to study overseas. Depending on your lifestyle and habit, the monthly living expenses can differ very greatly. Thus, the table below is just to show an average comparison of the living expenses between the 4 countries.

What do you need to know about the cost to study overseas

Here are some good things to know when preparing your budget plans.

1. Your lifestyle will be very different when you aren’t living with your parents. You might prefer your old bedroom more and you might even need to thrift even more and make some sacrifices. However, you will get used to it and be a more independent individual as well.
2. Tuition Fees are susceptible to inflation and can increase yearly without informing you.
3. Exchange rate can heavily affect your purchasing power. Thus, ensure that you change more money when the rates are favourable
4. When you are applying for Visa, you will need to show that you have enough money to cover for the entire period of your studies abroad. However, you cannot make use of income projections such as future earning from part time work while studying as these will not be shown in Visa application.
5. When preparing your budget, don’t be so strict on your spending. It is good to prepare excess for some entertainment like movies and trips once in a while.
6. Cost of living in cities are generally more expensive compared to smaller areas.
7. Some countries do have discount cards for international students. Thus, make sure you do your research on the country that you will be studying in to save as much money as possible.
8. Don’t keep on using your current bank account even if you can use it overseas. Open a local bank account there to save cost on exchange rate.

Check out our Things to Know Before Studying in Singapore blog post to know more about Singapore!

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