Cost of study in USA was the first thing you thought about when you planned to pursue your studies in the USA. If you are interested in studying in the United States, knowing how much the expenses will be should be on the top of your research list. The following overview breaks down every aspect of university life to make sure you have everything covered. While the US remains the world’s most well-known goal for worldwide understudies, it’s additionally among the most costly decisions. But while the headline costs of studying in the US may be daunting, regularly including a string of five-digit numbers. It merits checking every one of the realities on charges and financing choices before you decide. Before you depart from India, ensure your other expenses. Expenses like accommodation, food, health coverage, and travel along with your tuition fee when calculating the estimated cost of study in USA.
Cost Of Tuition fees
The US is one of the world’s most popular destinations for study abroad programs – and also happens to be one of the most expensive. Although the initial overview of finances required to do this may leave you flustered, studying in USA is worth exploring. There are many financial aids and sources of funding available to realize your dreams.
Tuition fees range from $10,000 to $50,000 per year. The average annual cost of tuition fees in the US is $34,200. Most undergraduate degrees last four years, which results in students graduating with $136,800 worth of debt apart from the additional living expenses. The numbers vary vastly for graduate programs as some of them in duration as short as one year.
While some countries have different tuition rates for home, EU, and international students, American universities differentiate between in-state and out-of-state students. Any international student in the USA is liable to pay out-of-state tuition fees. A typical four-year public college charged in-state students approximately $10,000 per year in 2016-17, while the charged for out-of-state students was close to $25,000. There are private non-profit colleges too, which cost about $34,000 on average in the same year.
For example, the University of Washington (one of the higher-ranking public universities) was charging out-of-state students $36,587 per year, with about $8,998 for accommodation and board, books and study supplies, and for other personal expenses. These amount to a budget of $44,582 per year. There is an average cost for MS program throughout the US with a little variation in price depending upon the location of the university and if it’s a public university or a private institution. The cost for management programs is comparatively higher across all of US.
What Financial Aid is Available?
We recommend students considering the option to study in USA must begin the application procedure at least 12 months before the intake. Deadlines vary vastly with each university. The cost of study in USA can seem extortionate. Often it’s essential to consider the tuition costs advertised on the university website and what the students end up paying. Once you find all the sources of funding, you may see a few lakhs of rupees shaved of your initial estimated costs. More often than not, the most prestigious universities in the US, who have the highest tuition rates, give students the broadest range of funding opportunities. For example, over 90 percent of students at the Massachusetts Institute of Technology receive financial aid every single year.
There is a wide range associated with the term financial aid. It comes in many formats: scholarships, grants, assistantships, and work-study programs. Some of these may differ based on the country of origin and might be possible only for US citizens. Nonetheless, there are various financial aid opportunities for international students too. For example, the University of Pennsylvania sets aside $6 million each year to fund graduates from outside the US and from neighboring countries of Canada and Mexico. Many universities provide on-campus paid work opportunity on campus for students while they study. However, there is a right approach to seeking financial aid from a University and the amount of scholarship fund that you get vastly depends upon it!
Funding information is available on each university’s website, and request for financial aid should for at the same time as a university place. Contacting the right people is the key to getting the best for yourself.
Many top-ranking universities in the US operate a “needs-blind” admission policy, meaning the financial background of a potential student for the admission process. The university promises to support any candidate so that every successful applicant can attend financially. In 2017, the establishments the chose to abide by this pledge were the Massachusetts Institute of Technology, Harvard University, Princeton University, Yale University, and Amherst College.
There are also a few popular government-funded US scholarship programs for international students, for example, the Fulbright Foreign Student Program and the Hubert Humphrey Fellowship Program. It is the job of an overseas education consultant to see that you do not miss out on any opportunities that help you get scholarships to study in USA.
Other Costs to Consider
In general, university towns in the Midwest region of the US have lower living costs, whereas the West, East, and North East have higher living costs. The average private room costs start at $500 per month (a one-bedroom apartment in a rural area) and go up to $3,500 or (a one-bedroom apartment in Boston). Our consultants will advise you on what are the ideal accommodation choices and how to select the same for your study in USA program.
On-campus accommodation is typically in dormitories, with two or three people per room. Residents share bathrooms, toilets, and showers.
In 2019, on-campus dormitory rooms in the US averaged $8,887 per year at public four-year colleges or $10,089 per year at private four-year colleges, including all utilities and housing-related costs. There are many online calculators available that may help you calculate accommodation and tuition fee estimations on each university website.
Other essential student costs
Internet provision costs $40 per month on two sharing bases, and household and monthly phone bills are around $40. If you decide to own a car, gas costs around $3.20 per gallon (4.5 liters). If you choose to commute, a monthly public transport pass costs about $60-70 with most leading universities having tie-ups with the regional transport to avail discounted prices for students. Although most courses and study modules are online. The average cost of books and academic supplies per academic year may be around $1,000, or $333 per semester (this may vary drastically depending upon the program you opt for).
Cost Of Student Visa
Another compulsory price to consider is the student visa to study in the US, which costs a minimal of $160. The application may become a tedious and a long process, and hence, it is recommended to be best started about three-five months before the semester begins. Find more information on the visa application process and related cost here.
Utilities are often not included in the price of rental accommodations, but electricity costs may go to about $50-100 per month with more during winters when heaters are on. The landlord mostly pays Water, sewerage, and rubbish collection contributions. The charge to the tenants will amount to $50-75 every three months.
Weekly groceries in the US cost between $20 and $60 per person (£15-45), depending on the type of diet they follow – the price of fresh fruit and vegetables varies considerably throughout the country. Organic options are much healthier but also more expensive compared to their inorganic counterparts. Universities often have a meal-pass scheme coupled with accommodation (many prices will list as room and board – which includes some meals or meal plan cards).
A meal in a restaurant costs about $15 and a trip to the cinema is about $12. If you get the monthly AMC pass which gives you the option to see any 3 movies in a week, will cost you about $20 a month. In 2019, an average meal from a fast-food chain such as McDonalds, KFC, Burger King, will cost you about $7.
All universities in the US have a stellar gym facility free of cost. But if you decide to opt for a local gym such as Golds or LA Fitness, the monthly gym membership may run up to $30. A bottle of quality wine costs an average of $10 (£7.64), and a crate of 24 pack beer will cost you about $20. Prices for a night out vastly differ on the state and the activity. Although 2019 figures suggest that the average crowd in the US spends an average $81 per night ($26 on drinks, $11 on transport, $34 on a gig ticket and $10 on late night snacks). Find more information on the visa application process and related cost here.
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