For students planning to study abroad, cost of studying is a major concern. The primary worries plaguing students are big expenses such as tuition fees, airfare, foreign exchange for students as well as day-to-day expenses.
Tuition fee for universities varies widely depending on different universities and colleges, and living expenses, travel, insurance & student forex costs also vary between different countries and regions. There’s no simple rule, & you have to set a budget after doing a bit of online research. According to a rough estimate, in country like the United States, tuition fees ranges between US$6,000 – 40,000 & cost of living ranges between US$10,000 – $15,000 annually, whereas, in the United Kingdom, tuition fees cost between £4,000 – £21,000 & the cost of living ranges £9,000 – $12,000. You’ll need to apply the current exchange rate to see what this equates to in Indian Rupees.
Before applying for a student visa you have to prove that you have sufficient funds. This means you need to show a history of saving, bank account details, a letter from a sponsor or scholarship board, or other proof of your ability to pay for your education. Otherwise your student visa could be denied.
How Can You Save On Education?
- Pay your tuition fees in advance if they offer a discount.
- Choose a smaller college or campus with more affordable fees – the quality of education may be just as good, and you could also benefit from more attention.
- Share accommodation with fellow students, thereby sharing living cost.
- Fees can increase while you study so check with your college whether the charges in their offer letter are fixed or not
- Currency Exchange rates can also change and could affect your ability to pay for expenses and convenience. If you think today is the lowest forex rates exchange your money to local currency immediately. Carry your Foreign exchange in the form of a prepaid Forex card, as this offers the lowest rates in comparison to DDs or Wire transfers. You can order on online at buyforexonline.com
- Don’t expect to live the same quality of life if you’re currently living at home with your parents. Your room may not be as decent as your current bedroom. You may have to catch public transport all the time. But it will all be worth it!