As per the Bureau of Immigration (BoI), nearly 6.5 lakh Indian students went abroad for educational purposes in 2022. And experts believe that Indian students going abroad for education is not a new trend. This trend has been gaining popularity with time owing to factors like quality education, exceptional prospects for research and excellent job opportunities.
Indeed, studying abroad is a once-in-a-lifetime opportunity but heavy on pockets also. You need to weigh the cost factor while planning your study abroad journey. So, if you want to know the approximate cost of education (including tuition and living expenses) in popular overseas countries, this blog will help you.
Key Highlights
- Factors to consider when ascertaining the cost of studying abroad for Indian students
- Cost of studying abroad for Indian students in Rupees
- Cost of living overseas
- What to do if studying abroad is expensive?
Factors to consider when ascertaining the cost of studying abroad for Indian students
- Tuition fees: This is one of the major elements of your study abroad expenses and depends upon three factors: country, programme, and university.
- Accommodation cost: After tuition fee, accommodation cost is the second-largest expense. Many study programmes offer on-campus accommodation facilities; sometimes, students stay in rented places. Based on the kind of accommodation and location, the cost varies.
- Travelling cost: You must factor in travelling cost, especially if you have chosen off-campus accommodation. Moreover, costs incurred while exploring the surrounding places during holidays must be included when determining the overall overseas education cost.
- Cost of learning devices: Consider the cost of learning devices such as laptops, notepads, printers, etc., while estimating the cost of education for studying abroad.
- Cost of study material: Expenditure made on buying study materials and other documents affects the overall cost as these recurring expenses.
- Living cost: The living cost is a broad term and generally includes the expenditure on food, clothing, and related needs.
Feel free to use College Course Expense Calculator to get an estimated cost of your course at an international destination.
Cost of studying abroad for Indian students in Rupees
The top 5 study abroad destinations for Indian students are as follows:
- The United States of America (USA)
- The United Kingdom (UK)
- Canada
- Australia
- Germany
Now, let’s take a country-wise look at the top 5 courses and their tuition fees:
The USA
| Course Name | Approximate annual tuition fee (in Rupees) |
| Master of Business Administration (MBA) | 50-68 lakh |
| MS in Data Science | 15-55 lakh |
| MS in Computer Science | 21-60 lakh |
| MA in Art & Culture | 20-45 lakh |
| MS in Marketing | 36-65 lakh |
The UK
| Course Name | Approximate annual tuition fee (in Rupees) |
| MBA | 25-70 lakh |
| MS in International Business | 14-29 lakh |
| MS Mechanical Engineering | 20-37 lakh |
| MA Fashion Marketing | 17-45 lakh |
| Master of Architecture | 21-45 lakh |
Canada
| Course Name | Approximate annual tuition fee (in Rupees) |
| MS in Information Technology | 9-30 lakh |
| MS in Civil Engineering | 12-30 lakh |
| MBA | 19-25 lakh |
| Masters in Hospitality Management | 8-12 lakh |
| Advanced Diploma in Aviation Technology | 9.5-30 lakh |
Australia
| Course Name | Approximate annual tuition fee (in Rupees) |
| MBA | 25-50 lakh |
| Master of Information Technology | 11-30 lakh |
| Master of Education | 14-34 lakh |
| MS in Social Work | 19-53 lakh |
| MS in Data Science | 19-50 lakh |
Germany
| Course Name | Approximate Annual tuition fee (in Rupees) |
| MS in Automotive Engineering | 10- 25 lakh |
| MS in Economics | 11- 24 lakh |
| MS in Computer Science | 11-23 lakh |
| Executive MBA | 18-36 lakh |
| MS in Biochemistry | 11-23 lakh |
Based on the selected country, programme and university, the tuition fee may vary for Indian students. Amongst all aforementioned foreign countries, studying in German public universities is affordable as German public universities charge either minimal or no tuition fees.
Cost of living overseas
The USA
| Expenses | Monthly Expenditure (In Rupees) |
| Accommodation | 66,520-75,316 |
| Meals | 20,355-48,852 |
| Other living expenses | 12,213-16,284 |
The UK
| Expenses | Monthly Expenditure (In Rupees) |
| Accommodation | 42,420-71,710 |
| Meals | 64,640-80,800 |
| Other living expenses | 23,449-26,705 |
Canada
| Expenses | Monthly Expenditure (In Rupees) |
| Accommodation | 15,195-42,546 |
| Meals | 18,234-24,312 |
| Other living expenses | 10,940-12,156 |
Australia
| Expenses | Monthly Expenditure (In Rupees) |
| Accommodation | 20,880-1,02,080 |
| Meals | 18,560-58,000 |
| Other living expenses | 16,240-58,000 |
Germany
| Expenses | Monthly Expenditure (In Rupees) |
| Accommodation | 26,700-62,300 |
| Meals | 13,350-22,250 |
| Other living expenses | 26,700-40,050 |
What to do if studying abroad is expensive?
Studying abroad is a life-changing experience but also expensive. But by choosing an education loan for studying abroad, you can easily meet your academic expenses without using your family’s savings.
At Avanse Financial Services, we offer a customised student loan in India that covers all education-related expenses such as tuition fees, cost of travelling, accommodation costs, living expenses, and cost of learning devices. So, if you have any queries, please get in touch with us today to know more about a loan for education.
