One of the major factors that generally cross your mind while planning your education abroad is the cost. The final cost that you will have to bear will depend on many factors like the university you are targeting, the country where it’s located, and more – all in all, going abroad for education (especially undergraduate) is seen as a pretty costly affair.
In this article, let’s look at how you can cut costs by a whopping 20 lakh while acquiring a Bachelor’s degree from abroad!
Before that, let us look at the major costs that one has to bear if they are going to study abroad.
Major factors that contribute to the Study Abroad Costs
Moving to a new country and settling there is challenging in itself. Added to that are the costs that a student has to bear if they move from their home country to abroad to obtain a quality education. The overall expense you will have to endure will depend a lot on your lifestyle, your preferences, and a lot – but broadly, there are three types of costs that you will most definitely need to pay to stay and study abroad:
1. Tuition fees
The foremost major expense for most students abroad programs is tuition. This figure varies from program to program. Some countries, including many in the EU, have very supportive public education systems and charge very little even to international students. Other countries, like the USA, the UK, Australia, and more, are slightly costlier when it comes to tuition fees.
2. Living costs
The second significant cost you will have to bear on staying abroad is housing, accommodation, and food costs. Many study abroad programs tend to include these fees in the overall program fees and give you a hostel or dorm to stay in and routinely means. If this is not the case, you will need to get on the road and house hunt to find affordable accommodation based on your requirements.
3. Transportation fees
Transportation fee is the third important component you must keep into account while budgeting for your studies abroad. This includes not just the flights from your home country to abroad, but also the money you will have to spend on transportation daily to go from your room to the college campus. Like with rent and tuition fees, the transportation charges also vary significantly from place to place, depending on the economic standing of the host company.
As you can see, these costs sum up to create a substantial amount. On average, if you wish to study in a good college in any of the countries like the USA, Australia, the UK, etc., you will need to spend at least 20Lakh INR per year – including all the three costs listed above.
20 Lakh per year is not a small figure, and there are many routes you can take to pay these fees. Let’s look at some such ways.
Paying for the Study Abroad
Scholarships come in extremely handy when you are budgeting for and funding your education abroad. You can avail different kinds of scholarships – some are offered by the university, some by government organizations, some by non-profit organizations, and some by private foundations. There are numerous scholarships and grants for you to pluck and utilize for your cause.
Start saving up money to fund your studies abroad. If you’re starting a shorter course, such as a summer program, you can look for various crowdfunding options. Start a campaign using tools like FundMyTravel and such, and you will be happy to know the number of people who are ready to support you with quality education. Further, you can also look for some part-time or freelance job options while studying abroad so that you will know how to take care of yourself while managing your funds.
You can also look for education loans, but that comes with a hassle of its own. What we propose is – you can eliminate a good share of the study abroad costs.
Eliminating a chunk of these costs
Study abroad program to help you cut down on costs, efforts, and time that is otherwise spent trying to apply to colleges abroad.
If you have graduated with more than 60% marks in class 12th, in 2020 or 2021, you are eligible for the study abroad program and will get to avail of top-quality education. Through this program, you get to accelerate your entry into Australia without worrying too much about Visa and English proficiency exams.
So, here is what you get with our study abroad program:
- First-year: Comfort of home, a quality online education, earn required credits.
- Second-year onwards: Experience college life abroad, learn with the best people!
It does not take a Maths genius to see that this approach will save you all the first year’s costs. From housing, food, transportation to even tuition.
Enjoy personalized learning, live lectures, small class groups, expert mentors, a strong network of people while studying with an Australian university and saving up at least 20 Lakh INR. You also get part-time working opportunities in the home country for the first year while you’re studying online so that you can bump up the funds you have saved for your study abroad plans so far.