What does studying in Australia cost?
As an international student, not only would you have to pay for your studies, but also pay for your accommodation, travelling, food, laundry etc. Additionally, you would also be required to pay for an ‘Overseas Student Health Cover’ which is compulsory for all international students studying in Australia. All these expenses together add up to make Australia expensive for Indian students.
As a part of your research, go through the various costs involved in studying in Australia and then decide whether you can afford to study in an Australian university or not.
The following factors influence the total amount you would spend to complete your education in Australia:
Type of College
The Australian education system primarily comprises of Government – funded universities and a handful of private universities.
Even though all these universities offer the same type of courses, there is a huge difference with regards to the size of these universities. For example, the University of Sydney is a very big university with more than 50,000 students. On the other hand, the University of the Sunshine Coast is a much smaller university with approximately 10,000 students.
The size of a university makes a very big difference to your overall expenditure. For example, the per semester fees (Bachelor’s of Arts) for a big university like the University of Sydney is approximately 15,250 Australian Dollars, whereas the per semester fees for a smaller university like the University of the Sunshine Coast is around 9,000 Australian Dollars.
Therefore, it becomes very important to consider the type and size of your college while making a decision with regards to studying in Australia. If the total expenditure seems to be exceeding your budget, try looking for the same course in a smaller university which might prove to be cheaper.
Type and Structure of Course
Just like the U.K, universities in Australia also have different tuition fees for different subjects. Therefore, the type and structure of course makes a huge difference to the total amount you will have to pay for the course.
In terms of this differential fee system, universities in Australia are very similar to the ones in U.K. Generally, courses related to medicine are the most expensive and the courses related to arts and humanities are the cheapest.
For example, at the University of Sydney, the annual tuition fee for international students pursuing Bachelor’s of Arts courses is around 30,500 Australian Dollars. On the other hand, the annual tuition fee for a Bachelor’s of Commerce course is 34,000 Australian Dollars, the annual tuition fee for a Bachelor’s in Science course is 38,400 Australian Dollars and the annual tuition fee for a Bachelor’s in Medicine course is around 40,900 Australian Dollars.
Apart from your field of study, the duration of the course will also make a huge difference to your total expenditure. For example, you will have to pay much more for a course in Medicine as compared to a course in Arts, simply because the duration of a Bachelor’s course in Medicine is 7 years whereas the duration of a Bachelor’s course in Arts is 3 years.
For international students, longer duration of courses means more tuition fees as well as more living expenses. Do consider the duration of your course while deciding to study in Australia. It is advisable not to choose a longer course until you’re sure that you will be able to arrange adequate funds for it comfortably.
Foreign Exchange Rate
Fluctuations in the foreign rate of exchange between the Australian Dollar and the Indian Rupee can make a significant difference to your overall expenditure while studying in Australia. An increase in the value of the rupee will make you pay less, whereas an increase in the value of the Australian Dollar will make you pay even more than before.
It is important to make sure that such fluctuations do not manage to affect your studies or alter your plans while you are in Australia. It is advisable to keep a margin for such fluctuations while calculating the total expenditure that you will have to incur to study in Australia.
Location
The location of your university can make a difference to your total expenditure. Whether your university is in a big city or a small town can significantly increase/decrease not only your living costs but your tuition fees as well.
For example, the annual tuition fee for a Bachelor’s of Arts course at a university which is situated in a big city, like the University of Sydney is somewhere around 30,500 Australian Dollars. On the other hand, the annual tuition fee for the same course at a small town – university like the Charles Sturt University is around 15,600 Australian Dollars.
Not only that, but your living costs are also affected by the location of your university. For example, the annual living costs at the University of Sydney are around 25,000 Australian Dollars (including additional expenses like books, entertainment etc.). However, the annual living costs at the Charles Sturt University are estimated at around 18,610 Australian Dollars (including additional expenses).
Therefore, it becomes crucial to consider the location of your university in order to make sure that the total expenditure stays within your budget.
Other Expenses
Apart from your tuition fee, you will also have to spend a lot every year on accommodation and other expenses that include books, travel, food, personal expenses etc. It is a good idea to find ways to minimize such expenses in order to make studying in Australia more affordable for you.
As far as accommodation is concerned, you will need to decide whether you wish to live on – campus or off – campus. Go through the university website and check the costs of living on – campus and off – campus. Choose between these two options as per your budget and personal preferences.
You will also need to decide whether you wish to cook for yourself or subscribe to a meal plan that is offered by the college/university. Under most circumstances, you will not be able to subscribe to a meal plan unless you choose to live on – campus.
You will have to also pay for your personal expenses and other expenses related to books, travel, etc. There are various ways through which you can save money on such expenses such as buying used books, using public transport etc.
It is important to consider all such expenses as they can contribute significantly to your overall expenditure.
According to the Victoria University, Melbourne, international students spend approximately 650 Australian Dollars every year on books, 100 Australian Dollars every week on food and groceries and 33 Australian Dollars a week on travel.
Overseas Student Health Cover (OSHC)
As per Australian laws, all international students are required to have the ‘Overseas Student Health Cover’ so as to study in Australia. This is a health insurance that covers various expenses including visits to the Doctor, hospital treatments, ambulance expenses and medicines.
The average cost of a minimum cover for a single international student is 437 Australian Dollars for 12 months.
Keep in mind that you will be required to have this insurance till the end of your course. Therefore, you will have to spend a minimum of 437 Australian Dollars every year on the OSHC till the end of your course.
