Comparing the Cost of a Degrees Overseas – Financial Guide

By | January 4, 2015

The technological development and communicational revolution in tandem with the innovations and modernization of transportation has changed the whole landscape of the twenty first century. We live in an interconnected world where nothing is hidden or can be hidden for a long time, thanks to the facilities and advancement of the cyber world and internet. Education is no exception when the globalized world and its dynamics are concerned. Education is globalized too in the sense that hundreds and thousands of students go abroad to get higher education. Millions of students go abroad to the many different countries to quench the thirst of quality education and the numbers are increasing annually.

Quick Facts:

University Expense:

  • Average Yearly  tuition fee in the US and UK $27,000
  • Average Yearly  tuition fee in the Australia  $17,000
  • Yearly  tuition fee in the Malaysia from $2,800-8,200
  • Average Yearly  tuition fee in the Australia  $20,000

Living Expense: 

  • Average cost of living in Australia is $840.25 per month
  • Average cost of living in New Zealand is $745.94 per month
  • Average cost of living in UK is $730.17 per month
  • Average cost of living in USA is $667.58 per month
  • Average cost of living in Malaysia is $140.51 per month

 

Different countries have a different range of the cost of education and there are significant tuition fee differences among them. For instance the tuition fee in the US and UK can reach up to $27,000 which is double the amount of fee in the countries like Malaysia or Singapore. Australia and New Zealand are the countries which have been attracting many foreign students in the recent years.

study-costThe cost of education varies with the degree i.e. for the undergraduate and post-graduate programs. The cost of an undergraduate degree in Australia is from $10,000-17,000 while the cost of an undergraduate degree in Malaysia is from $2,800-8,200. The undergraduate degree in New Zealand is a bit costly as compared with Australia starting with around $14,000 to the maximum of $25,000 while it is from $9,000-14,000 in Singapore. U.S. and UK have the highest cost for an undergraduate degree for foreign students with $19,000-27,000 and $11,000-40,000 respectively. Whereas the cost of education at the post graduates level is high in all the countries. A post graduate degree in Australia costs around $11,000-20,000 while a post graduate degree in Malaysia costs cheap with around $5,000-10,000. The cost of a post graduate degree from New Zealand ranges from $15,000-25,000 whereas a degree in post graduate program in the Singapore costs an inexpensive $10,000-12,000. UK and U.S. offers an expensive post graduate degree programs with $11,000-40,000 and 19,000-27,000 respectively.

Similarly, the cost of living (residence, transport, food and entertainment) also varies in these countries. The cost of living is highest in Australia with $840.25 per month. New Zealand stands behind Australia as second expensive country as far as cost of living is concerned with $745.94 per month. Cost of living in UK is higher than U.S. with $730.17 per month while the living cost in U.S. is $667.58. Whereas Singapore is the second inexpensive country as far as living costs are concerned with $331.95 monthly and finally Malaysia is the most inexpensive country in living cost where one can live with only $140.51 per month. Moreover, students can work 20 hours per week in all these countries with the exception of Singapore where the working hours for students are limited to 16 hours per week.

The globalized world demands the globalized education where thousands of students study abroad. Thus, the students who aspire to study abroad should have a better view and understanding of the costs and quality of education provided by various countries in different parts of the world.

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