Much other critical factors like course structure, teaching methods, university ranking, etc, the cost of living in a country is as important a factor to be considered while making your choice of an international study destination. Here we have an average estimate of the various costs involved in study abroad for the USA, UK and Canada.
About the Living Expenses in the USA
The average annual cost of living in the USA comes to between $10000 to $12000 per year, which includes boarding, food, transportation, books, stationery, accommodation, clothing and entertainment. If we break up this overall cost, it will look something like this:
Books and Stationery – $500 to $1000/year
Travel costs within the country – $300 to $700
Accommodation – $5000 to $7500/year
In case you are not living on the university campus, a rented apartment will cost you between $300 and $600/month. Though it totally depends on the location of the school.
Meals – $2500/year
Clothes shopping – $500/year
Other expenses – 2000/year
Other miscellaneous expenses including groceries, international calling cards, internet, cell phone, car insurance, car fuel, eating out, etc. would roughly amount to $1000/month.
Living expenses also depend on many other factors such as whether you are opting for on-campus or off-campus accommodation. In many US colleges, it is mandatory for UG students to live on-campus for a certain period of time, unless they are locals and prefer to commute everyday. Also, some colleges do not have the facility of on-campus accommodation, in which case, students have to arrange for their own accommodation. Though living off-campus may cost you less depending on the college you are attending and its location, you will have to take into account the transportation, meals and other miscellaneous costs such as the Internet, etc.
Living Expenses in UK
Thought to be an expensive country to live in, the costs in UK look something like this for international students. The undergraduate tuition fees for international students is around £8,000 – £30,000 per year for full-time courses. While the higher range remains for medical degrees at the most premium colleges, the average cost of undergraduate course for international students is around £12,000 per year. Talking about the average tuition fees for full time programs for international students, it ranges from £10,000 – £13,000 per year. Moreover, while research based programs will cost you around £14,000, the average cost for medical degrees is £21,000.
Now moving on to the living expenses for an international student in the UK, it would amount to around £1000 per month including rental, food, gas and electricity, internet, cell phone, laundry, stationery, clothing, transportation, eating out and recreation. Your living cost will also depend on the location you choose to reside at. Obviously, living in and around London will cost you more than living in other parts of the UK. While an Indian student living in other parts of the UK will end up spending a minimum of £1,015 per month, they will spend about £1,265 per month if living in London.
Living Expenses in Canada
In Canada, international students are required to show evidence of $10,000 for 12 months living expenses. You have to show an additional $4,000 for spouse and $3,000 for each dependent. This includes your accommodation, food, medical insurance, transportation, books, and clothing. Since, healthcare in Canada is really expensive, it is important for you to go for medical and hospital insurance. It goes without saying that the cost of living depends on the type of college you apply to and the city your college is located in. Roughly, your total expenses will amount to around $26,340 annually, which includes your tuition fee, health insurance, books & stationery, on-campus rent, cell phone, public transit pass, groceries, clothing, entertainment, car insurance and fuel. Needless to say, the cost of living is affordable if you go for on-campus living rather than off campus accommodation.
Another cost you have to consider while applying to a Canadian university is a Guaranteed Investment Certificate (GIC). This is a Canadian investment which assures a guaranteed rate of return in a fixed span of time. This is issued by trusted banks and investment firms. This is not compulsory unless you are applying for Study Permit in Canada under SDS program. However, it is recommended by the Canadian government.
