To choose the most affordable variety, the knowledge of all the possible options is a must. All this can be attained only with due research.
Generally, the fees are divided into 2 types of universities,
- State university systems or Public universities, with different rates for State residents and Outsiders. The far away resident students have a more expensive fee structure
- Private universities, which offer the same costs for residents and non-residents of the country.
Cost of Studying
The major share of the financial and money related attribute of foreign education, especially in countries like the United States of America is the Tuition fee, college fees structure and other educational fees of the college campus, for extracurricular activities or various infrastructural points. The prime and the foremost expenditure, which will be charged and can not be minimized in any way possible. The fees are charged according to various segregations of the American Schools like
- As per the division of the types of Universities of The States, the fees are charged. Like the basic divisions are Public/State and Private Universities. The public/state universities are government institutions and are for public welfare, which is part of the infrastructure of the country. The cost of such schools and colleges is comparatively less. While the other division is private Universities, owned by Individuals, solely or in a partnership or with a trust, to provide quality education for candidates, who want to study privately. These are set up to provide excellent infrastructure and quality to students and are also known for high fees.
- Apart from the ownership, the universities can be divided into the types of courses and subject streams like Engineering, Medical schools and sciences, Management, Media, Law and others. Generally, subjects of humanities, arts and social sciences are cheaper than the more elaborated and popular subjects of sciences like medicine and engineering.
- All courses have separate fees structure, with the types of programmes, filling in for admissions like Full time, distance, degree, diploma, certificate, evening schools or others. The financial liability of every of these is different. Generally, postgraduate level education has more tuition fees than the rest of the other types.
MBA programs are often the most expensive, of all kinds and are referred to as top B_Schools of the country. Approx. $35,000 yearly is the tentative amount for the course.
- The ranking of the university also plays a major role. The more popular the school is the more is the affordability of the same.
- History, no. of years it has completed in its establishment etc. than that of a private institution.
For expenditure cover of the tuition fee approx. $8,000 to $55,000 (USD) a year is the basic expense. It can grow more and more, a range of which has no bar. More additions in the facilities, infrastructural element and others are spinning the amount every time too.
Tentative amount of Tuition costs of various Schools, Subjects and Programmes are,
- English language studies with $700 to $2,000 a month.
- Community colleges with $6,000 to $20,000 per year.
- Undergraduate or Bachelor degree with $20,000 to $40,000 per year.
- Graduate programs with $20,000 to $45,000 per year.(Post Graduation)
- Doctoral degree with $28,000 to $55,000 per year(Including PhDs)
Though 100% of funds can be made available to the Doctorates and PhDs through research and development, teaching and assistantships. Various grants and aids are available through government schemes of various countries for the creamiest minds of the country, several international organizations or via reserves and provident funds of research aid and bursaries. With that scholarships are also handily available, to prospective students.
Cost of living
The expenses born for accommodation and residential purposes which are an important segment to live by are included in the cost of living. Though most of the foreign universities offer on-campus housing and residence to all the students with separate international wings. The students from locations other than the states can opt-in for safety and affordable purposes in these campus hostels or PG’s. Though a separate application process and screening need to be done for the same, and it completely depends on the early bird offers. Candidates can choose outside accommodation from any known source or new area too and can own apartments or share them, once the individual is comfortable in doing so. While in many cases the Educational experts are also helping and supporting assistance by offering their places to reside, which is the trending practice of society lately.
The costs of rents are varying from time to time, and area to area. Shared practises with another family is also trending. Renting an apartment also includes costs of
- Electricity
- Internet
- Water usage
- Tenant’s insurance (in some areas of housing)
Most probably the cost of accommodation will be ranging from $6,000 to $14,000 per year.
Other yearly living expenses of the area include the following, which may increase as per the inflammation rates, any governmental rules and policies, and also is dependent on individuals daily routine, practises and styles.
- Books and Stationery, $500- $1000
- Travelling, $500- $1200
- Food, $2500 approximately
- Clothes and footwear, $500
- Miscellaneous expenses, $2000
- A little money must be kept for other necessary things like grocery, fun and social activities and most importantly emergencies.
Precisely US$ 10,000 and US$ 25,000 per year are the living expenses including the accommodation and all. They can change depending on the situation of the market, demand and supply or the decision of residence in the city.
Cost of Student Visas and application of the immigration offices
The US is one of the superpowers. It takes various screening and precautionary steps before allowing any individual in its lands. So the procedure to attain visas and the application money is also high in the country. Though exact rates can only be disclosed by the foreign embassy immigrant official, tentatively the amount is approximately US$ 160, for the application. The costs for an F1 visa are $510 per application. The date to start and apply are 3months before the start of the course. This date can be easily verified and checked from the university prospectus form. These are also to be renewed and updated regularly, as per the schedule chosen.
Cost for health support and insurance, which is mandatory for international students.
It is mandatory for Students travelling from India especially to the US to get medical insurance. Before allowing a Visa and passport entry, these medical reports need to be duly submitted and hence can the individual commence their educational trip. Several American universities are also having a duly document requirement of health insurance papers too. The average cost of an individual student ranges between USD 1,500-2,500 for a year. And the tests are beyond these rates.
Transportation, via local busses, trams or metros(Public transport) also is an important cost to consider. Though it is advisable to take public services, and for short distances, one can walk, cut down the costs and expenditures.
Taxes
Indian students are only allowed 20 hours of work per week on normal days, with a student visa. And they can work full time during vacations, to cover some of the expenses during academic sessions and full-time during vacations. For the amount earned by the student, several government taxes are deducted out of one’s income. And exchange rates are also affecting the budget of an individual If one chooses to work along with their studies, the earned income may be taxable, and thus can be benefitted from the same.