Australia is a popular destination for international students seeking high-quality education, a multicultural environment, and a chance to experience a different culture. However, one of the most important factors to consider before applying to study in Australia is the cost. This article will provide an overview of how much money is required to study in Australia.
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Tuition Fees
Tuition fees for international students in Australia vary depending on the course and institution chosen. On average, undergraduate courses cost between AUD 20,000 to AUD 45,000 per year, while postgraduate courses can cost between AUD 22,000 to AUD 50,000 per year. However, certain programs like MBA, Law, and Medicine may be more expensive.
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Living Expenses
Living expenses in Australia are another significant cost to consider. According to the Australian government, international students require approximately AUD 21,041 per year to cover living expenses. This includes accommodation, food, transport, and other miscellaneous expenses. Students can reduce their living expenses by sharing accommodation, cooking their meals, and using public transport instead of private transportation.
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Health Insurance
International students are required to have Overseas Student Health Cover (OSHC) in Australia. This health insurance covers the cost of medical treatments, hospitalization, and prescription medicines. The cost of OSHC varies depending on the insurer, the length of coverage, and the level of coverage. On average, the cost of OSHC ranges between AUD 550 to AUD 700 per year.
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Visa Fees
International students are required to obtain a student visa to study in Australia. The cost of a student visa application is AUD 620, and it is non-refundable. Students are also required to show evidence of sufficient funds to cover their tuition fees, living expenses, and health insurance costs while in Australia.
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Other Expenses
Other expenses that students may incur include textbooks, stationery, and extracurricular activities. The cost of textbooks and stationery varies depending on the course and institution. Extracurricular activities like sports, social events, and travel may also incur additional costs.
Studying in Australia can be a significant investment for international students. The total cost of studying in Australia varies depending on several factors such as the institution, course, and location. However, as a rough estimate, international students should expect to spend between AUD 40,000 to AUD 60,000 per year on tuition fees, living expenses, health insurance, and other miscellaneous expenses. It is important to plan and budget accordingly to ensure that the cost of studying in Australia does not become a financial burden.
