Aside from the prestigious academics, Australia also offers an immersive culture, golden beaches, bright sunshine, mouth-watering delicacies, and tons of opportunities to rediscover yourself. However, before applying for the visa, one of the most crucial factors to consider is preparing a detailed budget for the future years so that everything goes smoothly according to plan.
Another important thing while applying for a visa is to prove to the Australian government that you have sufficient funds related to tuition fees and accommodation costs to last throughout the study period. Thus, it is essential to have a clear idea about the expenses you will have to bear. So, to help you out, here is a simplified breakdown of an approximate budget and list of expenses an international student might have to incur in one year:
Simplified breakdown of an approximate budget
Type of Cost | Average Cost Per Annum (in AUD) |
Tuition Fees (depending on course type, level of study, and university) | Anywhere between 4,000 to 40,000 (could be anywhere from 80,000 to 88,000 for Master of Business Administration) |
Cost of Accommodation | Around 12,000-20,000 |
Food and Entertainment | 1,920- 5700 |
Travel | Depends on your place to stay (30 to 60 per week approximately for public transport) |
Overseas Student Health Cover | Will be taken once during admission |
Please note that the list provided is a template for you to plan out an estimated budget. The actual costs may increase or decrease depending on miscellaneous expenses. Also, aside from the basic cost of accommodation, travel, healthcare, food, and entertainment, you must state that you will have enough funds to buy return tickets to your home country. Moreover, if you wish to take any dependents along with you, keep in mind that all costs mentioned here are calculated on a single-person basis. Hence, you will need to have proof of sufficient funds for you and your dependents, including return airfare.
External charges
External charges may vary between institutions, courses, and students who live in dorms or in off-campus housing.
The tuition fees must be paid before you are officially enrolled in your program, usually once every term. There are also costs of materials and facilities provided by institutions, such as library costs, labs, lockers, and class trips that are not included in the tuition fees. Sometimes universities combine a few of these external charges and make students pay a “service fee” every term.
The tuition fees are calculated differently in Australia compared to other countries. Every unit of study is counted in a band, which is then added up throughout the academic year. Therefore, tuition fees for students within the same course may vary.
So, our counsellors at PFEC Global can guide you in preparing a smart management policy so that you can plan, spend wisely, and turn Australia as the price-savvy option for you!
Frequently Asked Questions (FAQ)
How much does it cost to study in Australia for international students?
The total cost varies, but tuition fees typically range from AUD 4,000 to 40,000 per year, depending on the course and university.
What is the average tuition fee for MBA programs in Australia?
MBA programs can be more expensive, usually costing around AUD 80,000 to 88,000 for the full program.
How much does student accommodation cost in Australia?
Accommodation costs generally range from AUD 12,000 to 20,000 per year, depending on the city and type of housing.
What are the typical food and entertainment expenses?
Students usually spend between AUD 1,920 to 5,700 annually on food and entertainment.
