The Cost of Studying in the USA as an International Student
July 27, 2023
The United States has always been a major destination for international students studying in the USA seeking an excellent academic journey in a multi-diverse society. Being a hub for global top-ranked universities like Massachusetts Institute of Technology, Harvard University, Stanford University, and many others, the United States has long been a magnet for international students.
But the challenging factor for pursuing an academic career and experiencing quality education is that it comes with a price tag. Bearing the total expenses of study/tuition fees, stationary fees, housing, transportation fare, and different other miscellaneous expenses may be overwhelming for international students.
In this blog, we intend to deliver approximate or average expenses that international students may bear during their entire academic journey in the USA.
The following information may vary depending on students’ habits, preferences, and other factors having an effect on expenses routine.
Tuition Fees
One of the primary expenses international students encounter is the cost of tuition. Unlike domestic students who may benefit from subsidized fees, international students typically pay out-of-state tuition rates, which can be significantly higher. Tuition fees vary widely depending on the university and the level of education pursued
The cost of tuition could be one of the most costly expenses that international students have to struggle with during their academic journey. Tuition fees are slightly higher for overseas/international students as compared to local or domestic students.
There is a division of tuition fees for domestic students and international students referred to as in-state tuition fees and out-of-state tuition fees respectively. Tuition fees may vary according to universities or colleges and the desired courses and their length.
Generally, there are two types of educational institutions i.e. Private & Public universities/colleges.
Public Universities
As compared to private universities, Public universities tend to have slightly lower fees. International students are recommended to allocate a budget before applying to the US in order to meet their financial stability.
However, studying in the USA as an international student tuition fees range between $20,000 and $40,000(25,00,000 Rs. to 52,00,000 Rs. In Nepalese Currency) on a yearly basis for undergraduate degrees.
Graduate degree tuition fees range between $30,000 and $60,000( 40,00,000 Rs. to 80,00,000 Rs. In Nepalese Currency) annually or even higher in fields of study like business, medicine, and engineering.
Note: It is an approximate calculation of tuition fees. It may vary depending on universities and colleges.
Private Universities
In comparison with public universities, private universities tend to have higher tuition fees. Being a hub for numerous prestigious and elite universities, The United State Universities Charge higher tuition fees due to its reputation and academic excellence.
However, as an international student in a US private university, the tuition fees in prestigious may range above 50000$ (65,00,000 Rs. In Nepalese Currency)per year for undergraduate and graduate degrees.
Moreover, Elite or global top-ranked universities even charge up to $70000 (90,00,000 Rs. In Nepalese Currency) for international students due to the minimum acceptance rate. In addition, one has to meet very tough criteria and academic excellence in order to get admission to those universities.
Note: It is an approximate calculation of tuition fees. It may vary depending on universities and colleges.
Living Expenses
While studying in the USA, international students have to deal with living expenses during their entire stay in the United States. Students must consider these factors before choosing the USA as a major destination.
Living expenses may be different for students depending upon the location of the institutions and students’ expenses preference in their lifestyle. Meanwhile, location plays a vital role in expenses.
Bigger cities and urban areas tend to have usually higher expenses of living as compared to rural areas. However, these locations offer students a wide range of facilities at prompt like transportation, health, malls, and other essential needs.
Smaller towns or rural areas tend to have lower expenses of living in comparison with urban areas. This location may serve slightly low facilities than urban areas compared to facilities offered by urban centers.
Note: Living expenses may vary in accordance with the student’s preferred lifestyle and expenses habit.
Housing/Accommodation
Housing and accommodation expenses are also important factors to keep in mind if you are planning to study in the US. For international students, there are generally two housing options i.e. On-campus and Off-campus housing.
On-campus housing which is also known as housing facilities within universities/college premises may be available for international students. It could be somehow expensive and may range from 8000$ to 15000$(10,00,000 to 20,00,000 Rs. In Nepalese Currency) per academic year.
Off-campus could be the alternative for students who want to live freely as they should not follow any universities restrictions. The average housing expenses may range from $10,000 to $15,000(13,00,000 to 20,00,000 Rs. In Nepalese Currency) per year. They have to bear different expenses like groceries, rent, utilities, transportation, and others on their own.
Additional Expenses
Apart from tuition and living expenses, international students have to deal with various other miscellaneous expenses. In the long journey of your academic career, you need textbooks and other study materials which may cost you several hundred or even thousands.
Being an international student, it is mandatory to have health insurance. Health insurance often ranges between $1,000 to $3,000 (1,40,000 to 4,00,000 Rs. In Nepalese Currency) on a yearly basis.
Moreover, various unexpected expenses may incur. Students may decide to engage in extracurricular activities or travel across the country during vacations, which may result in extra expenses for international students.
Note: To ensure a stress-free academic journey during your stay in the US, it is very crucial for international students to budget funds for unexpected emergencies that may occur during their academic journey
Financial Assistance and Scholarships
Pursuing an academic career in the US could be very intense or hard to deal with because of the high COA(Cost Of Accommodation). For this, many universities/colleges provide students with scholarships and financial aid to withstand the burden of financial crisis for international students.
Universities/Colleges even offer international students with full-ride scholarships with targeted requirements to be fulfilled. One has to have an excellent academic background and meet the criteria that are set by universities/colleges in order to get that scholarship.
Meanwhile, merit-based aid or partial scholarships are easily accessible for international students with a minimum requirement. In order to qualify for these scholarships, one has to research and apply through universities/colleges’ websites as they are open for specific time periods.
Moreover, Many nations even provide scholarships and financial aid for students who are willing to pursue their academic careers in foreign countries. One should explore different offers of the government and educational bodies of their country in order to attain these scholarships and aids.
Conclusion
As an international student, pursuing an academic journey in the US could be the best option to foster personal and academic growth. You can experience academic excellence and, a multicultural society. But you should be aware of the fact that the academic excellence of US universities comes up with a high price tag.
Budgeting is the key to survivance in the US due to higher expenses. You should allocate and plan financial parts in a such way so that you won’t have to stress in the long run of your academic journey.
Moreover, you should explore and research various financial aid and scholarships opportunity in order to avoid the financial burden. It helps to maintain your entire academic journey stress-free. Your international academic trip may be both rewarding and transforming. you should keep in mind to evaluate the expenses and costs against the possible benefits and to perform thorough research before you head to your destination.
To conclude this blog, you should keep in mind to evaluate the expenses and costs against the possible benefits and to perform thorough research before you head to the US for your academic journey. By taking these things into consideration, you can achieve excellent results. Have a great journey to the United States of America.
