Wondering how much does it cost to study in Australia? Let’s have a look:
Cost of studying in Australia can be divided in to:
Tuition Fees (course fees)
Living Expenses
Insurance, travel and other costs
Tuition Fees for Studying in Australia
Undergraduate – Bachelor Degree – A$15,000 to A$33,000* per year
Postgraduate – Masters Degree – A$20,000 to A$38,000* per year
Postgraduate – MBA Degree – A$25,000 to A$82,000* for the full program. We believe the most students end up selecting MBA courses that cost between A$35,000 to A$55,000
Doctoral – PhD Degree – AUD $14,000 to $38,000* per year
*These are approximate figures and do not include veterinary and medicine courses.
Living Expenses while Studying in Australia
We believe that the living cost in Australia is about A$12,000 – A$21,000 per year including your accommodation, food, travel, books etc. depending on the city you will be living in (Sydney, Melbourne, Perth, Adelaide, Canberra, other), your type of accommodation and of course your life style.
In the above, your accommodation cost is the highest amongst all your expenses and the cost depends on the TYPE of accommodation you choose to live in:
- Hostels and Guesthouses– $80 to $135 per week
- Shared Rental– $70 to $250 per week (least expensive option)
- On campusaccommodation – $80 to $250 per week
- Homestay– $110 to $270 per week (most expensive option)
- Rental– $100 to $400 per week
Here are your other expenses in Australia:
- Groceries and eating out– $80 to $200 per week
- Gas, electricity– $60 to $100 per week
- Phone and Internet– $20 to $50 per week
- Public transport– $10 to $50 per week
- Car (after purchase)– $150 to $250 per week
- Entertainment– $50 to $100 per week
Note: The Department of Immigration and Border Protection has financial requirements towards your living cost that you must meet in order to receive a student visa. Below is a guide on the requirements you must meet to study in Australia:
- Cost of Living of the Main Applicant (Student)– $18,610
- Cost of Living of the Partner of the Student(spouse dependent) – $6,515
- Cost of Living of your first child(dependent) – $3,720
- Cost of Living of every other child(dependent) – $2,790
Thus while applying for an Australian student visa, the above costs must be kept in mind while showing the funds. This information is correct as on February 2016. You must check the Australian Government website to verify this amount before you apply for your visa
Insurance and Other Costs
Insurance and Overseas Student Health Cover (OSHC)
All overseas students need to take the OSHC. You need to maintain OSHC while your student visa is valid. You will also be responsible for your own accident and property insurance. We also advise students to purchase a separate travel insurance before leaving Indian to cover lost baggage, cancellation of plane tickets and repatriation.
OSHC has to be maintained for all the dependents too (spouse and children).
Other Costs: You other costs include flight tickets, your medical examination that you do in India, buying for forex, and other luggage that you wish to carry