One of the most frequently asked questions that we receive during our initial conversation with students is “How much will it cost to study abroad?” To help you prepare for the expenses, let’s break down the costs and provide you with some great tips to save you some major expenses.
Initial Documentation
The first step towards studying abroad is arranging the initial documents such as your passport, transcripts, and other academic-related documents. This will cost you around 10,000 INR.
Test Preparation
You need to take English language proficiency tests such as IELTS, Duolingo, PTE, or TOEFL, and you may also need to take the GRE as per the university requirements. If we consider having to give both IELTS and GRE, the cost for IELTS will be INR 17,000 and for GRE, it will cost around INR 22,500 . Before taking these exams, you might need to prepare through some online courses, which cost around INR 45,000 . If you want to save this INR 45,000 , read till the end, and we’ll show you how.
Application Processing
Once you have arranged all the application materials and obtained the test scores, the next step is filling out applications and submitting them to universities. On average, each university charges a $65 application fee. Considering you will be applying to nine universities (three Safe, three Target, and three Ambitious), the total application fee will come to around INR 50,000 . Some universities may require official GRE score reporting, which will cost around INR 2,000 per university, and some negligible cost for reporting IELTS.
Visa Processing
Once you receive the admission and i20 from the university, the next step is visa processing. Since you will be going for academic purposes, you need to get the F1 student visa. The student visa application fee for an F1 student is around $160. Additional costs like traveling for the visa interview you have to manage.
Tuition Fee
This is the major expense that students need to plan carefully. On average, the master’s course fee will be around $20,000 to $25,000 per year. It entirely depends on the course and university you are applying for. If you are planning to get into the top 50 universities, it can be around $35,000 to $40,000 per year.
Living Expenses
Living expenses depend on the area and your lifestyle. On average, the living cost will be around $10,000 to $15,000. These expenses include accommodation, food, books, health insurance, etc. Please note that health insurance is mandatory and can cost you around $500 to $2,000 per year.
Additional Costs
Additional costs may include shopping, flight tickets booking, and finding temporary accommodation before flying if you don’t find a place to stay.
Tips to Save on Expenses
Tip 1: Try to shortlist the universities you want to apply to before taking the GRE. After taking the GRE, you can report your score to five universities for free. Finalizing the universities before taking the GRE can save you up to 10,000 INR.
Tip 2: Make sure to take expert opinion while shortlisting the universities. Do not waste your application fee. Choose the right mentor for your study abroad journey. If you are confused about choosing your mentor or counselor, consider experts like UniMeet.
Tip 3: Want to save on application fees? Consider trusted study abroad like UniMeet as your study abroad application guide. Here, you can apply to some of your dream universities with zero application fees. You can save around INR 50,000.
Tip 4: Do you know platforms like UniMeet provide free IELTS training and free GRE training as part of their application process? If not, please do check it out. It can save you up to 45,000 INR.
Tip 5: Do your research about the different available scholarships and consider applying for the scholarships for which you are eligible.
In conclusion, plan your all financial needs well in advance. Also, you can save up to 75% of the cost of your total processing expenses with some of the genuine platforms like UniMeet. All the best!