MS in US Cost- Most Indian students planning to study in the US will be aware of the huge costs and the financial burden that they would have to bear in order to realize their dreams of studying. Nevertheless, it would be nice to have a rough estimate of the costs involved so that you could plan your finances accordingly. The good news is that you could actually save some money if you start your preparation on time. Another important factor is the type of degree you want to earn. An MS degree would be slightly cheaper than an MBA degree although the returns would also be less.
MS in US Cost:
There are various aspects involved while working out the MS in US cost. Let us look at each of these aspects in detail. Just a word of caution – the costs mentioned here are only averages and estimates as the prices keep changing and the exchange rates also keep fluctuating on a daily basis. Hence, always keep room for miscellaneous expenses while preparing your budget and calculating the cost of MS in USA or MS in USA expenses or MS in US cost.
Entrance Exam Costs:
Most of the MS universities in USA require candidates to submit their GRE and TOEFL scores. As of July 1, 2016, the GRE fees are $205. The TOEFL iBT fees are $170 across different states in India. There are additional charges for late registration, rescheduling, reinstatement of canceled scores, etc. Check the official site for details of the same.
On an average, the application fee for several top MS programs in USA is $75 (or Rs. 4868).
It is to be noted that at the time of applying for GRE and TOEFL iBT, you are allowed to choose up to 4 universities for sending the scores free of charges. Furthermore, for GRE exams, there is an option of ScoreSelect, where you could choose to send the scores that are good, according to your personal discretion, to your desired university/universities. If you wish to send your report to additional universities, you will be charged a fee of $27 (approx. Rs. 1752) for each additional university.
For TOEFL iBT, you will have to pay a fee of $20 for every additional university that you would wish to add. However, they do offer value packs and it would be advisable to check out these options which will help you save some money.
Let’s say you want to send applications to 10 Universities at a time, with an application fee of $121 (inclusive of application fees and additional report fees for GRE and TOEFL iBT), the total expense would come up to $1,210 (approx. Rs. 78,535).
Although most Universities accept online applications, you would still be required to send physical copies of your transcripts, bank statements, and other documents. The cost would roughly come up to Rs. 10,000.
Tuition Fee for MS in USA
This is another important aspect that needs to be considered while calculating Masters in USA Cost or MS in US Cost or Tuition Fee for Masters in USA. MS programs are different from MBA programs with respect to the course fees. Most MBA programs have a fixed fee for the entire course. On the other hand, for MS programs, you have to pay a tuition fee based on the credit hours.
On an average, MS students are expected to complete around 36 credit hours. Again the fee per credit hour will depend on the kind of institution you are applying to – a public institution or a private university.
The course fee will also vary depending on whether you have managed to obtain a scholarship or not. If you obtain a scholarship, you will be able to save an enormous amount of money. In the absence of financial aid, the tuition fee for top MS programs in USA ranges between $10,000 to $80,000 (Rs. 6,49,050 – Rs. 51,92,400) for two years.
It would be reasonable to allocate approximately $45,000 or Rs. 29,20,275 for tuition fees.
Student Visas and Airfare Costs
You would require $500 or Rs. 32, 452 for your F1 visa or SEVIS fee.
It would be advisable to book a return ticket instead of a one-way ticket as it would work out to be cheaper. Moreover, booking your tickets early can get you some good discounts on your airfare. Approximately, the airfare would range between Rs. 60,000 to Rs. 1 lakh. You could allocate around Rs. 80,000 for your airfare and travel insurance.
Cost of Living for MS students in USA
If you thought we were done with the calculation of expenses for your MS program in US, you are wrong. You still need to account for your living expenses in USA. This will include rental costs, eating and drinking costs. Remember, although you would want to survive on Maggi and water as a means of reducing costs, it is not healthy and it will definitely not be appreciated by your foreign roommates and classmates.
Despite a humble lifestyle and shared apartments, MS students in USA will have to shell out approximately $1,000 or INR 64,000 per month. For two years, that would work out to be $24,000 or Rs. 15,57,720.
Miscellaneous Expenses for MS in USA
Preparatory Classes for Entrance Exams and Admissions Counseling
Many students join preparatory classes for TOEFL and GRE with the aim of achieving high scores that will ensure admission into the desired programs. Still, other students engage MS Admissions Counselors in order to obtain scholarships. However, these are optional expenses as it is not mandatory to take these steps but would add on to the MS in USA Expenses or MS in US Cost.
It is now time to talk about the final figure that you need to look at while calculating MS in USA expenses. It would be easier to look at a table that contains a breakup of all the expenses incurred by MS students in USA along with the total costs.
Total Masters in USA Cost:
|Cost Parameters||Average Rates (in dollars)||Rates in US Dollars||Rates in Indian Rupees (considering the exchange rate of Rs. 64.91 per dollar)|
|Application charges||121 (per university)||1210 (for 10 universities)||78,535|
|Living expenses||1,000 (24 months)||24,000||15,57,720|
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