Choosing to study abroad is a major decision and one of the most important factors that contribute to deciding which country and which university you will be studying in, is the cost. The amount of money that it’s going to cost you to study for the required period. This includes not just the fees, but also the accommodation costs and other miscellaneous costs like transport, food etc. Let us try to calculate how much studying in Australia would cost you approximately.
Undergraduate Bachelor Degree – $15,000 to $33,000 (in AUD)
Postgraduate Masters Degree – $20,000 to $37,000 (in AUD)
Do remember, 1 Australian Dollar = 0.71 USD = 0.63 Euro. The tuition fees will also vary based on which course you have chosen and in which university. It will cost less to study in a university away from the city, as compared to study in the busy cities or in areas that are known as business districts. Additionally, if you get in with a scholarship, or earn a chance to finish your course in lesser time, it will definitely lower the amount of money you pay as tuition fees. Keep in mind, some courses, such as medicine, do cost more than others.
Does the university you have chosen provide you with an in-campus accommodation facility for international students? If so, that’s one less thing to worry about. Otherwise you must look at various options like renting an apartment or finding a guest house. Again, the rent is cheaper (by a little) if you stay away from the city and rent a car or use other transportation facilities to reach the campus.
Here’s an approximate value of how much the accommodation costs are in Australia:
Rentals (On Campus) : 90 to 280 AUD / week
Homestay: 235 – 325 AUD /week
Shared rental accommodation: 85-215 AUD / week
Guest Houses: 320 – 540 AUD / month
Of course, along with accommodation, we need groceries, transportation and other utilities like electricity. Let’s try to get an idea of how much that would cost.
Utilities (gas and electricity): 50 – 100 AUD / month
Phone and Internet: 150 – 200 AUD / month
Tax bill (water, waste management etc): 50 AUD / month
Groceries: 320 AUD / month
These costs are an approximate and very well depend on you as well. The groceries you choose to buy, the amount of electricity you consume, you get the drift.. If you choose to sign up for a gym membership, or eat out at restaurants, obviously you will be spending much more.
Student Visa Cost
In order to study in Australia, you need a student visa. The cost for this can vary based on the location you choose to apply for this visa. Do make use of the visa pricing estimator to find out how much your student visa could cost you in Australia.
Student visa (Subclass 500) costs AUD 575.
These are the main costs involved in studying in Australia. Other costs include health insurance (which is compulsory), cost of transportation, entertainment costs, airfare and books and supplies. An approximate for these:
Overseas Student Health Cover: 2,164.17 AUD for 3 years
Public Transport (depends on the city): 30 – 70 AUD / month
Entertainment: 150 AUD / week
Books and academic supplies: 500 – 1000 AUD / year
There are other options to reduce the costs. You can rent a bicycle for about 40 AUD per day. Entertainment and food costs more in the busy cities than in smaller towns. Some universities may provide transport for free or discounted costs. Do check with your university regarding the same. You can also work part-time to reduce the cost of studying in Australia, unless your college prohibits you from this.
Before making an estimate about the costs, decide which university you are going to study in, and find out where it is located. Lastly, while the cost of living in Australia is high, the standard of living is high too. As reference, read our post on 10 reasons to choose Australia to study in. Remember that there are multiple factors that come in, when deciding where you choose to study. Read well and be aware, and you shall surely get an education worth the money you spend.