For a student, Australia is a country that is full of promise. With a great standard of living, it is also home to many renowned universities and prestigious companies across various industries. This is why it comes as no surprise that numerous international students look to pursue their further education from Australia.
If you are among those students who dream of heading over to Australia for your further studies, then you are indeed making a smart choice! However, before you can take your planning any further, there is one aspect that requires your foremost attention – the cost. Education-related expenses extend well beyond university fees. There are several other heads of expense that you need to keep in mind when considering a course down under.
So, let us start by looking at the various expenses that you will come across:
The average course fee for a student pursuing an Undergraduate Bachelors’ degree is from anywhere between AUD 30,000 to AUD 64,000. For a student pursuing a Postgraduate Masters’ degree, the course fee would cost between AUD 31,000 to AUD 72,000. Please note that these figures are taken based on an average, and could differ based on the course and university you choose.
There are a lot of options to choose from when it comes to accommodation in Australia. A lot of universities provide on-campus accommodation for their international students, which can come up to a total of AUD 160 to AUD 400, depending on the university you are pursuing your course at. If the university does not provide on-campus accommodation, you can choose from rental apartments, boarding schools, hostels, or even home stays.
Rental apartments should cost you about AUD 266 to AUD 630 on an average. You can cut down on this cost by going for a shared rental, which would bring your expenses down to as low as AUD 136. You can also choose to stay in a hostel which would cost you about AUD 129 to AUD 215.
The Australian government’s Department of Home Affairs of the requires international students to have AUD 21,041 for their living costs every year. If you are a student with a spouse, then you will need to add AUD 7,362 to that amount. You will further be required of an additional AUD 3,152 in case you have a kid to take care of. Apart from the proof of funds, you will also be required to show return tickets for yourself and any family members who travel with you.
The other living expenses include bills for groceries, gas, electricity, transport, etc. Considering the average amounts spent on a weekly basis, an international student studying in Australia pays about AUD 10 to AUD 15 for gas and electricity, AUD 15 to AUD 30 for their phone and WIFI bills, and about AUD 140 to AUD 280 for groceries.
You can always take up a part-time job as an Australian student visa permits international students to work for up to 40 hours every fortnight.
Now that you have learnt about all the expenses, it is time to think about arranging the finances. We at Avanse have got you covered, as we can provide an education loan that will take care of all these expenses. So, please get in touch with us and we’ll be glad to be of service!
We hope this article has helped you, all the best!