In this article, we are discussing about How Much does it Cost to do MS Abroad.
Studying abroad is an exciting and life-changing experience that many students aspire to achieve. Pursuing a Master's degree abroad not only enhances your academic knowledge but also provides you with a global perspective, expands your cultural horizons, and helps you build an international network of contacts. However, the cost of doing MS abroad is a significant concern for most students
If you’re also considering to do MS Abroad, chances are that your final decision will, to a certain extent, be based on the total expense incurred. This article will give you a sense of how much it costs to do MS Abroad.
How Much does it Cost to do MS Abroad
The cost of pursuing a Master's degree abroad can vary significantly depending on the country, the university, and the specific program. Here is a breakdown of the estimated costs of pursuing a Master's degree in different countries:
United States:
The cost of pursuing a Master's degree in the United States can range from $20,000 to $70,000 (16 lakhs- 60 lakhs) per year, depending on the program and the university. In addition to tuition, students also need to factor in accommodation, transportation, and living expenses, which can range from $10,000 to $20,000 per year (8 lakh- 16 lakh).
United Kingdom:
The cost of pursuing a Master's degree in the United Kingdom can range from £10,000 to £30,000 per year (10 lakh- 30 lakh), depending on the program and the university. Living expenses, including accommodation, food, and transportation, can range from £7,000 to £12,000 per year (7 lakh- 12 lakh).
Canada:
The cost of pursuing a Master's degree in Canada can range from CAD 17,000 to CAD 35,000 (10 lakh- 30 lakh)per year, depending on the program and the university. Living expenses, including accommodation, food, and transportation, can range from CAD 12,000 to CAD 15,000 per year (7 lakh- 9 lakh).
Australia:
The cost of pursuing a Master's degree in Australia can range from AUD 20,000 to AUD 50,000 (10 lakh- 27 lakh) per year, depending on the program and the university. Living expenses, including accommodation, food, and transportation, can range from AUD 18,000 to AUD 20,000 per year (9 lakh - 12 lakh).
Germany:
In Germany, there are no tuition fees for most Master's degree programs, except for a few private universities. However, students need to pay a semester fee of around €300 to €500 (26k-44k), which covers administrative costs and includes a public transportation pass. Living expenses, including accommodation, food, and transportation, can range from €8,000 to €12,000 per year (7 lakh - 10 lakh).
France:
The cost of pursuing a Master's degree in France can range from €2,000 to €15,000 per year (1 lakh-20 lakh), depending on the program and the university. Living expenses, including accommodation, food, and transportation, can range from €8,000 to €12,000 per year (7 lakh- 10 lakh).
Ways to manage your money and overcome financial challenges while doing MS Abroad
Listed below are the ways to manage your money and overcome financial challenges while doing MS Abroad -
- Figure out what are the other expenses, besides your tuition and living expenses. If you find some unnecessary expenses, stop those or try to consciously reduce them.
- Know the locals living in your surroundings. Understand the way people live their lives in the region. Thorough knowledge of the locals and communities will help you communicate with them easily and find survival tips during difficult times. This will also help you understand what to buy, and what not to, and therefore making you efficient in managing your budget.
- Find the cheapest way you can commute from one point to another. Facilities like student pass and international student ID card go a long way in helping you manage your transport expenses.
- Sort out your money exchange options. It’s better to open a bank account in the country you are moving to so that you can save a lot of time and unnecessary international fees.
10 Top Factors to Consider While Planning to do MS Abroad
If you are planning to do MS abroad, then it is important that you consider the following factors while making your decision -
I) Where will you be studying?
II) How much money do you have?
III) Do you have an international student visa?
IV) Are you eligible for government assistance?
V) Is the country safe?
VI) Can you afford it?
VII) What is the quality of education?
VIII) What is the reputation of the institution?
IX) What are the career prospects after graduation?
X) What are the social and cultural aspects of the place?
Conclusion
It seems as though every international student in the world is looking to study MS abroad; and why not. MS is one of the most sought-after courses today.
All in all, the total cost of an MS may seem like a lot, but remember three things:
- On completion, you stand a great chance to earn and recover your investment if you stay back.
- If you have a good profile, the total cost can come down through scholarships.
- There are several ways to fund this expense: education loans, part-time jobs while you study, etc.
With that, we come to the end of this article on: How Much does it Cost to do MS Abroad.
We hope this article has given you some insights on How Much does it cost to do MS Abroad.
If you need more information about the cost of pursuing an MS and how to fund it or need help with your application, you can book an appointment with Alpha Edu Experts. You can follow us on Facebook and Instagram!
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Frequently Asked Questions
What factors influence the cost of pursuing a Master's degree abroad?
The cost of studying for a Master's degree abroad varies based on several factors such as the country and city you choose, the reputation of the university, program duration, living expenses, exchange rates, and whether you're eligible for scholarships or financial aid.
Are there any additional expenses besides tuition fees?
Yes, besides tuition fees, you'll need to consider other expenses like accommodation, food, transportation, health insurance, visa fees, study materials, and personal expenses. These costs can significantly impact the overall budget for studying abroad.
Can international students work part-time to cover expenses while studying abroad?
In many countries, international students are allowed to work part-time during their studies to supplement their income. However, there may be restrictions on the number of hours you can work per week, and it's essential to check the specific regulations of the country you plan to study in.
How can I reduce the cost of pursuing a Master's degree abroad?
You can explore various options to lower the cost of studying abroad, such as applying for scholarships, assistantships, or grants offered by universities or external organizations. Additionally, choosing a more affordable location, opting for shorter duration programs, and managing your expenses efficiently can help minimize the financial burden.
An IIT Delhi IIM Ahmedabad alumni initiative
Alpha Education Abroad is an initiative by IIT Delhi and IIM Ahmedabad alumni. The firm helps students get admitted to top universities overseas in the US, UK, Australia, Canada, Germany, and many other countries. It allows students to apply for graduation as well as post-graduation courses abroad. It also helps students get admitted to top 1 year MBA programs such as ISB and IIM Ahmedabad in India