For a student who is looking to apply to USA universities, it is normal practice to start the preparation at least 8-12 months prior to making the move. Students should use this time wisely and find out about the additional courses that they can take in order to have a better chance of securing admission to their preferred university. They should also focus on preparing a good SOP (Statement of Purpose). Attending workshops will certainly help you improve your knowledge on your preferred field would look positive on your resume.

One of the main concerns that most students have is regarding the finances of pursuing an education abroad. The most effective solution to this is to take an education loan for financial support. But before you go to a lender, you need to have a good understanding of the amount you will be needing. This is why it is important for you to know the expenses you will incur when you are pursuing your Master’s degree in America.

To help you with this, we have given a breakdown of those finances below. Read on:

When it comes to finances, we need to consider the expenses we would be incurring both in the USA as well as in India.

Expenses in India

When you plan for your study in USA, your expenses start right from India itself. A lot of students opt to go to a counsellor for guidance, and the average fee that counsellors charge is Rs.25,000. Before applying for US universities, you need to give certain tests, for instance, GRE (Rs.12,000), TOEFL (Rs.9000), or PTE (Rs.6000). When you are ready to start applying to universities, the average application fee would be around $100.

Once your application form is accepted by a US government-approved university, the SEVIS I-20 fee would be around Rs.12,000. Next, you would start your visa application process which would cost you Rs.10,000. The cost of dispatching your bank statements, transcripts on the college letterhead, and affidavits would further cost you around Rs.8000. Lastly, flight tickets to the US would be around Rs.50,000.

Expenses in the USA

Once you have received your I-20 visa after you complete all the payment formalities, the next thing is to worry about your accommodation. This would largely depend on which city you live in. The range for accommodation costs could vary from anywhere between $500 to $1000, based on your budget and preferences.

Next up is the tuition fee that the university will charge you for your course. This again depends on the university that you choose, as the tuition fees for public universities in the USA could cost you about $10,000 – $20,000, whereas private universities could charge $15,000 – $20,000.

So, these are the expenses that you would have to incur when you are planning on pursuing an MS in USA. Yes, the expenses certainly add up to quite an amount, but this should not come in the way of your education. We at Avanse can provide you with the financial support you need by providing a suitable education loan, so please feel free to get in touch.

We hope this article has been informative, good luck!

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