Singapore is one of the most popular study abroad destinations for Indian students due to a variety of reasons. The most important of those reasons is that education in Singapore costs much less than what it does in other reputed countries like the U.S, U.K, Australia and Canada (there are exceptions).
Even though studying in Singapore costs less as compared to the above mentioned countries, the amounts that international students have to pay are in no way small. This is primarily because apart from the tuition fee, international students are also required to pay for accommodation, food, travel expenses, personal expenses and so on. All these additional expenses significantly impact the total cost that one has to incur while pursuing his/her education from any foreign country, including Singapore.
It is advisable to find out in detail about the various costs involved in studying at a Singaporean University as a part of your initial research and then make a decision regarding whether it is financially viable for you to study in Singapore or not.
Consider the following factors as they can make a huge difference to your overall expenditure as an International Student in Singapore:
Tuition Grant Scheme
One of the biggest factors that will affect your total expenditure in Singapore is the ‘Tuition Grant Scheme’ provided by the Singapore Government to all students (including international students) who are accepted by a Singaporean university for a full – time undergraduate/diploma program, subject to certain conditions.
As per this Tuition Grant Scheme, any international student who is accepted by a Singaporean university in a full time undergraduate/diploma program, will be eligible to receive the government subsidy on his/her tuition fee provided he/she is willing to sign a contract that makes it mandatory for him/her to work for a Singapore based company for a period 3 years upon graduation. Students who are unwilling to sign this bond are not eligible to receive the grant.
The subsidies provided by the Singapore Government under this scheme are pretty significant and form a major chunk of your yearly tuition fees. For example, at the National University of Singapore (NUS), the subsidized tuition fee for Arts based courses is around 15,700 Singapore Dollars per year whereas the non subsidized tuition fee for Arts based courses is around 28,600 Singapore Dollars per year.
Do keep in mind that this scheme does not apply to certain specific universities and programs for international students. Find out more about this scheme by clicking on the link below.
https://tgonline.moe.gov.sg/tgis/normal/studentViewTuitionGrantSubsidyInfo.action
Type and Structure of Course
Universities in Singapore have different tuition fee rates for different courses, very much like their counterparts in the U.K and Australia. Therefore, the type of course you choose will make a big difference to your overall expenditure while in Singapore.
The general rule is that courses related to Medicine and Dentistry are the most expensive whereas courses related to the Arts stream such as History, Philosophy etc. are the cheapest. At most universities, professional courses related to Law and Accountancy are priced in the mid – range.
For example, at the National University of Singapore (NUS), undergraduate courses related to Arts cost around 15,700 Singapore Dollars per year, courses in Law cost around 23,300 Singapore Dollars per year and courses in Medicine cost around 48,400 Singapore Dollars per year.
The same phenomenon can be seen at the Nanyang Technological University (NTU), where undergraduate courses related in Arts based subjects cost around 15,700 Singapore Dollars per year, courses in Accountancy cost around 17,700 Singapore Dollars per year and courses in Medicine cost around 63,000 Singapore Dollars per year.
Apart from your course type, the duration of your course will also affect your total expenditure. The courses that are longer in duration will require you to pay more tuition fees as well as more living expenses. Only choose a longer course if you’re sure that you will be able to arrange adequate funds for the course.
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 an undergraduate course in Medicine is 5 years and the duration of an undergraduate course in Arts is 4 years. As an international student studying medicine, you will have to pay the tuition fees and bear the living expenses for an additional year which a student pursuing a course in Arts will not have to.
Foreign Exchange Rate
Fluctuations in the foreign exchange rate between the Singapore Dollar and the Indian Rupee can also affect your total expenditure while studying in Singapore. An increase in the value of the Singapore Dollar will result in you paying more than you had earlier estimated, whereas an increase in the value of the Indian Rupee will result in you paying less.
Ideally, you should keep a margin for such fluctuations in the foreign exchange rate while calculating the total costs that you will have to incur while studying in Singapore. This will ensure that your studies do not get affected due to economic fluctuations while you’re in Singapore.
Other Expenses
As an international student, you will have to incur several other expenses apart from your tuition fee. These will include expenses related to accommodation, books, travel, personal expenses, food etc. It is important to keep these costs in mind while making a decision regarding studying in Singapore.
The amount one spends on such expenses depends on personal preferences and budget that vary from person to person. For example, you can choose to reside in an on – campus hostel or in an independent off – campus accommodation. Similarly, you can choose to subscribe to a daily meal plan provided by the hostel or make your own food. You can choose to travel by public transport or by other means of transport, and you can choose to buy second – hand books or new ones and so on. All such choices will determine your total expenditure while you’re in Singapore.
The monthly living expenses estimates (including accommodation, travel, food, entertainment etc.) as per various Singaporean universities for international students are mentioned below:
National University of Singapore (NUS): 900 – 1,400 Singapore Dollars
Nanyang Technological University (NTU): 725 – 1.000 Singapore Dollars
Singapore Management University (SMU): 750 – 2,000 Singapore Dollars
Curtin University, Singapore: 700 – 1,500 Singapore Dollars
Part – Time Work
Another factor that you should consider while estimating the total costs that you will have to incur while studying abroad is whether you’re willing to work part – time alongside your studies or not.
The Government of Singapore allows international students to work part – time for a maximum of 16 hours a week during terms. During vacations, international students can work full – time.
No additional work permits are needed to work as an international student of a full – time undergraduate course in Singapore.
Even though such part – time work (or full – time during vacations) will not be enough to fund a major part of your expenses or tuition fee, it can certainly help you minimize your expenditure to a significant extent.
The minimum salaries that international students receive are around 5 Singapore Dollars per hour for part – time work.
Do keep in mind that different universities have different rules with regards to international students working alongside their studies. Most universities allow students to work part – time through various ‘Work Study Schemes’. Visit university websites for more details.
Financial Aids/Scholarships
Apart from the Tuition Grant Scheme that offers subsidized tuition fees for students, there are several financial aids in the form of scholarships, grants, bursaries and loans available to international students who wish to study in Singapore. These are mostly offered by universities and some other organizations.
While estimating your total expenditure in Singapore, do consider these financial aids as they can make studying in Singapore a much more affordable prospect for you. Singaporean universities offer both merit – based and need – based scholarships to international students. Additionally, there are various forms of grants, bursaries and loans available to international students, subject to certain conditions.
Go through the websites of various Singaporean universities to find out more about the financial aids available for international students.
Do keep in mind that getting any form of financial aid is not an easy task as there is a lot of competition. An excellent academic record can prove to be a great help while applying for scholarships.
Please Note:
Most universities would require you to specify whether you wish to be considered for a scholarship/financial aid or not in the application form itself. This means that you will have to decide how you’re going to fund your studies before you apply to a university.
The ideal way to do this is to calculate the total expenditure you will have to incur in Singapore (including tuition, living expenses etc.) before you apply. These figures are mentioned on university/college websites. If you feel that you will not have sufficient funds to incur these expenses, try considering the various factors that affect your expenditure (mentioned in this article).
However, if you still feel that studying in Singapore is an unaffordable option for you, consider the various Merit – Based, Need – Based and other forms of scholarships available to internationals students. More information about this can be found on university/college websites.