One of the major factors that generally cross your mind while planning your education abroad is the cost. The final cost 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 (predominantly 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 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 nominal or no tuition fee to international students. Other countries, like the USA, the UK, Australia, and more, are slightly costlier regarding tuition fees. Therefore, one can look for the same courses in countries that possess reasonable tuition rates. This will help them in saving their costs. Some of the country’s average tuition costs are listed below for you to take a look at:
Country
Tuition Fee
Japan
$5,177
Canada
$5,060
South Korea
$4,792
Italy
$2,013
Spain
$1,768
France
$233
Germany
$148
Sweden
$0
Source: Statista
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 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. In most of the cases the on-campus housing is expensive and in order to mitigate the expense one should opt for affordable housing in off-campus areas.
3. Managing the daily expenses wisely
To be able to sustain oneself in the alien country for study, one needs to cut down on the personal expenses. This might not reflect in the initial days but it will have an impact at the end of the year. For instance, one can buy used textbooks, look for shops that sell second-hand things and avail online travel discounts.
4. Transportation fees
Transportation fee is the third important component one must keep into account while budgeting for the studies abroad. This includes the flights from your home country to abroad and 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 create a substantial amount. On average, if you wish to study in a good college in countries like the USA, Australia, the UK, etc., you will need to spend at least 20 Lakh 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 handy when one is budgeting for and funding your education abroad. One can avail of 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 to opt for and utilize for the cause.
Start saving up money to fund your studies abroad. If one is starting a shorter course, such as a summer program, then there are various crowdfunding options available at one’s hand. Start a campaign using tools like FundMyTravel and such, and one will be delighted to come across the number of people ready to support with quality education. Further, you can also look for some part-time or freelance job options while studying abroad to 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 with upGrad.
upGrad brings to you the study abroad program to help you cut down on one’s 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, you are eligible for the study abroad program and will get top-quality education. Through this program, you can accelerate your entry into country and course of your choice without worrying too much about Visa and English proficiency exams.
upGrad has designed the course wherein you get to take online classes for the first year, gain credits for the required eight subjects of the first year, and directly enter the campus for the second year. In doing so, you will also be keeping yourself eligible for application for two years of post-study work Visa.
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, and 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, and transportation to even tuition – upGrad helps you waive off all these costs for one year and enables you to establish a firm foot in the university when you are ready to move to a foreign country. You do not have to worry about English proficiency exams or extensive documentation hassles!
Enjoy personalized learning, live lectures, small class groups, expert mentors, and 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. Here are some options that you can consider for yourself
Bachelors programs in Germany
University
Program
Fee
Duration
IU International University of Applied Sciences, Germany
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.
Studying abroad is costly, but if planned correctly, you can get more out than you put in. One such smart way is taking the hybrid online + offline approach that upGrad has to offer. You do not miss out on anything – not the quality education, not the strong network, and not the physical campus experience. And, neither do you have to burn a hole in your pocket.
Join hands with upGrad to make your study abroad experience fruitful and save a ton of money. Reach out to us today!
Neha Uppal is a passionate content creator and editor. She carries 7.5+ years of experience working with leading edutech companies where she worked as a Faculty, Community Manager, and Content Marketeer. At upGrad, she is helping out people keep informed about the scopes and opportunities of studying abroad via informational articles/blogs.
GPA CALCULATOR
EXPENSE CALCULATOR
Ielts band calculator
Education Loan Calculator
University partner
ACCOMMODATION
experience-center
our offices
)
