Find out the cost of studying abroad for Indian students

Learn how much money is required to plan your higher studies in different countries, such as Australia, Canada, New Zealand, Ireland the UK, and the USA.

Imagine getting world-class education from a university abroad. Isn’t that enough to change your life itself for the good? But wait, are you worried about the cost of studying abroad from India? Are you skeptical that the money that you planned to spend for your education may not be sufficient? Every time you wanted to plan a budget; you might have dreaded proceeding further because you thought a degree abroad would cost you a fortune.

Let us make it a bit easier for you. We’ll give you a plan – a minimum budget required to study in specific countries abroad. This detail will help you plan your study abroad journey. If there is anything more you wish to know, you can always reach out to our experts.

The United Kingdom

There are several world-class higher education institutions in the UK. Their post-study work visa rules and the scholarships and financial benefits offered to international students make it a popular destination for higher studies abroad. Degree acquired from universities in the UK is recognised worldwide. The duration of study in the UK is shorter.

Here's the cost of studying abroad for Indian students

Cost of living: Living expenses vary based on the location you choose to live in and the type of accommodation you prefer. If you’re going to stay with a family in the UK, then you might spend less on other necessities. A homestay will cover most of your everyday expenses which will help you manage the cost involved in studying abroad. As per the UKVI, you will need approximately GBP 9207 (INR 9 lakhs, approximately) for studying in locations outside London and GBP 12006 (INR 12 lakhs, approximately) for studying within London.

Cost of study, for undergraduate courses: This would cost between INR 12.5 lakhs and INR 25 lakhs on an average.

Cost of study, for postgraduate courses: A minimum of INR 1250000 will be required to study postgraduate courses. This can go up to 29 lakhs.

Nepali students need to have a minimum of 20 Lakhs (Nepalese rupees) for their undergraduate studies and postgraduate studies. The cost of postgraduate studies can go up to 46 lakhs.

Sri Lankan students need a minimum of 33 Lakhs (Sri Lankan rupees) for undergraduate and postgraduate courses. The cost can go up to 77 lakhs for postgraduate courses.

Bangladeshi students need a minimum of 14.5 Lakhs (Bangladeshi Taka) for undergraduate and postgraduate studies. This can go up to 34 lakhs for postgraduate courses.

Australia

Australia has been, and will always be, one of the most chosen destinations for higher education by students from different corners of the world. The country is known for its world class institutions, particularly the Group of Eight. Their quality of living is another factor that attracts people to this country. Melbourne is famous for its international community and the cultural diversity that brings with it. The city is considered as one of the most liveable cities in the world. Check out the top universities in Australia.

Here’s the cost of studying abroad for Indian students:

Cost of living: This would be approximately INR 12 lakhs per year.

Cost of studying undergraduate courses: You will have to set aside an average of INR 15 lakhs per year towards your studies. If you intend to enrol in the top 8 universities, this will come up to INR 25 lakhs per year.

Cost of studying postgraduate courses: Postgraduate courses would cost around INR 16 lakhs per year. At the top 8 universities, this can go up to INR 27 lakhs per year.

Ways to manage your money and overcome financial challenges while studying abroad from India

Figure out what are the other expenses, besides your tuition and living expenses. If you find some unnecessary expenses, stop those or try to consciously reduce it.

Know the locals living in your surroundings. Understand the way people live their lives in the region. Thorough knowledge of the locals and communities will help you communicate with them easily and find survival tips during difficult times. This will also help you understand what to buy, and what not to, and therefore making you efficient in managing your budget.

Find the cheapest way you can commute from one point to another. Facilities like student pass and international student ID card go a long way in helping you manage your transport expenses.

Sort out your money exchange options. It’s better to open a bank account in the country you are moving to so that you can save a lot of time and unnecessary international fees.

To manage your study abroad budget, you can look for scholarships too

Is it possible to get a full scholarship to study abroad? Whether yes or no, any amount received as part of scholarships will help you manage the cost of studying abroad from India.

Merit-based scholarships – these scholarships are awarded to students based on their academic records, which also include students’ athletic and artistic talents and any other extra-curricular activity records that they may have.

Need-based scholarships – need-based scholarships are open to highly meritorious students who want to study overseas, but don’t have means to sponsor their education cost. Some US institutions offer ‘need-blind’ admissions that promise fully funded education for students from poor socio-economic backgrounds.

Specific scholarships – there are several destination-specific, programme-specific and subject-specific scholarships open for international students in countries abroad.

Now that you know how much money you must have to fund your dream, you can decide on which destination is best for you. Use our course matcher tool to shortlist courses and universities and get your applications filed. Learn more about the course matcher before you try it out.

If you are stuck at any point, reach out to our counsellors and we’ll help you. Our counsellors will guide you in selecting the right course and university and help you send over your applications. Learn more on how they can help you. Good luck with your higher studies!