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.

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.

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.