Expenses on Study Abroad @ Australia

During this crunch time it is advisable to go to college, earn a degree and eventually join the work force.
But the primary issue many people face is that the price of higher education is increasing. Average tuition fee towards a bachelor's degree in a publicly-funded American university would be in the range of US $35-40,000 per year. If one were to opt for a British university, the cost range would be around $28,000 per annum. This does not include additional expenses such as room and board (if you were to study overseas), school fee and uniforms, books, transport, communication, and the like.

You have options, of course. Scholarships are one of them. The downside to this is that you will have to maintain a grade average to avail of the program. At the same time, whilst a scholarship will cover tuition fees and possibly the cost of books, it will seldom cover living expenses like lodging and food. Student loans are another possibility, but these have to be paid back a few months after you stop training or studying. That means you will have to give up a hefty chunk of your initial salary, leaving so much less for you.

If you want high-calibre education from a premiere educational institution in a country that has a standard of living comparable to yours but has none of its exceedingly high tuition fees, studying in Australia may be for you.

Living in Australia

You probably think that whilst the cost of tuition in Australia is lower than that of US or Europe, this will be offset by the money spent on living expenses, including relocation and travel expenses, which may be higher than if you were to stay and study in a local university. In other words, it can be argued that any 'savings' generated by the lower tuition fees will just be paying towards the costs involved in moving to and living in Australia. Not necessarily.

First, consider the fact that your dollars or Euros will have a higher buying power than in your home town. If you decide to stay in your country, you will still have to spend money for lodging, food, transport, and other living expenses when you are at university. In all likelihood, the amount of money you will spend on food and lodging in a European or American university may be more than enough for your living expenses in Australia.

For example, the estimated cost of living in Sydney (Australia's prime city) is around A$14,000 and this includes lodging, food, transport, clothes, and other basic expenses. This amount is equivalent to 8,000 Euros or US $12,000. The question is whether you will be able to find a university in the United States where your expenses come to only around one thousand dollars every month.

More importantly, there is nothing stopping you from considering other options in Australia - like studying in a 'less expensive' location than Sydney. Living expenses along Australia's Gold Coast are estimated at only A$11,420 per annum - or US$9,200 (EU 6,500).