How to Plan Your Budget for study abroad students

By Meet University

study abroad students
study abroad students

Economically thinking is something Indian parents are used to and teach their children as well but when it comes to thinking economically in terms of education is a little difficult, which also needs smartness along with low-cost. The major aspects of study abroad students’ budget education are that one should know how to choose low-cost education inclusive of tuition fees and to manage the living cost. These two aspects are closely governed by several features that directly influence the living costs and tuition fees of the student. The tuition fee varies from cities, courses, universities within a country. Most of the time it is possible if you try to get an education loan but if the parent tries to manage by themselves they will feel as if someone looted them. Other than that it’s always profitable to apply for post-graduation courses as they are of lesser duration as compared to the under graduation courses. Due to the long duration under graduation course and high tuition fee it gets unaffordable. There is a lot of difference in tuition fees as in terms of government and private colleges because government colleges charge less than the private ones due to the provision of facilities. Apart from the college, there is n number of scholarships which significantly reduce the studying expenses.
Also, on average a study abroad students spend approximately 758,553.16-910,368.25 INR per year on their living. But this amount depends on the location, infrastructure they choose to live in. If a study abroad students decide to reside in a metropolitan city, he would be spending more than a student who opts for a hostel or suburban accommodation. The living expenses generally include accommodation costs, room, and boarding, food, travel, textbooks, weather-appropriate clothing, and entertainment expenses as well.

Other expenses that are taken into consideration under living expenses include, travel expenses between India and the country of choice during vacation time; large purchases, such as PC, furniture, or even a rental car; medical expenses not covered by health insurance, e.g. dental care, eye care, cosmetic treatments; social outings; weekend trips and personal and variable expenses. The most affordable places to study abroad students are:

1. SOUTH AFRICA- is reasonably inexpensive, with low costs of living and tuition fees. Fees vary but come to an average of 457737.30 INR for international undergraduates studying at the University of Cape Town. The highest-ranked university in the QS World University Rankings and the University of the Western Cape.
2. MALAYSIA- Malaysia is undoubtedly one of the cheapest countries for study abroad students, particularly in terms of living costs. Its capital, Kuala Lumpur, came first for affordability in the QS Best Student Cities 2016, and most students will only need about 2,57,301.16 INR per year to live comfortably in Malaysia.
3. POLAND- One of the cheapest countries to study in Europe is Poland. The capital city, Warsaw, was ranked the second most affordable city for study abroad students in the QS Best Student Cities 2016, and joint 63rd overall. This “Holy land” also offers a high quality of education, as well as an interesting history and rich culture.
4. ARGENTINA- Argentina is also considered one of the safest countries in the region and is known for its fun-loving culture and passionate national identity. You can typically study for free at any state-funded (public) university, with tuition fees of around 10,98,032.40 INR per year or more at private institutions.
5. INDIA- Heading back to Asia for the next of our list of the cheapest countries for study abroad students, India is a fantastic option for students who want to combine affordability with cultural diversity. While Hindi is the most prominent of the 100+ languages spoken, English is often used as the language of instruction at Indian universities, especially at the postgraduate level. Living costs are incredibly affordable; a one-way trip using public transport can cost as little as the equivalent of 29 US cents. Tuition fees vary depending on your study level and university.
6. MEXICO- Full of interesting and unique culture to explore, Mexico is one of Latin America’s most-visited nations and has lots to offer international students. Tuition fees vary, with private universities charging more, and average around 480441.15 INR per year for international undergraduate students in the capital, Mexico City, which was named one of the world’s top 100 cities for students. Living expenses are also reasonably low in Mexico, with all living costs adding up to around 7,05,333.31INR on a standard budget in the capital or 491.83 INR elsewhere. Although the main language of instruction is Spanish, Mexican universities are offering more English-taught courses to attract international students.
7. FRANCE- The top universities in France are the Ecole Normale Superieure, Ecole Polytechnique, and Pierre-and-Marie-Curie University. Paris is the center of all the renowned academic institutes. Most of the best colleges in the country are situated in cities like Nice, Paris, Lyon, Grenoble, and Orleans. Space and Aviation teaching, Engineering, Business Studies, Art, History, Tourism, and Hotel Management are the popular courses for Indian students to pursue in France.
8. GERMANY- is famous for its renowned universities and institutes and it is one of the cheapest countries to study abroad in comparison to the education quality it offers. The German education system is quite inclusive for international students.
9. TAIWAN- is one of the cheapest countries to study abroad. For example, a very popular National Taiwan University, which is 68th in the QS World University Rankings this year, asks tuition fees for undergraduates only around 76,93,852.02 INR per year up to 94,70,529.45 INR
10. NORWAY- Although all of the Nordic countries are relatively affordable for study abroad students destinations, Norway is our pick as it remains free for everyone, from both within and outside the EU, at public universities, except for a few specialized programs. However, as with the other Nordic countries, Norway comes with a high price tag in terms of living costs.