How to choose a study destination on your budget

Most families start by comparing tuition fees, and most families stop there. That is how a “cheap” country turns out to be expensive. The real cost of a year abroad has at least five parts, and in some countries tuition is the smallest of them.

• Tuition: what the university charges for your course, per year or per semester.
• Living costs: rent, food, transport, phone and books, usually quoted per month.
• Visa funds: the money you must show (and sometimes lock away) before the visa is issued.
• Health cover: a surcharge, insurance policy or health fee, depending on the country.
• Getting there: flights, the visa fee, a housing deposit and your first month before any part-time income.

Counsellor’s tip: Ask for every number per year and convert it to rupees at the same rate. Our calculator uses about Rs 280 per US dollar so countries can be compared fairly.

Before you shortlist, fill in this table for each country you are considering. If you cannot find a number, that is a question for your counsellor, not a number to guess.

Using mid-range tuition and living costs for each country (the default setting in our cost calculator), destinations fall into three rough bands for one year of study. The cheapest courses and cities can come in well below these figures, and expensive ones above.

Germany sits in the middle band even though public universities charge little or no tuition, because living costs and the blocked account are significant. The UK and USA are at the top, but they also have the most scholarships and the shortest routes to some careers.

Several countries want to see a large amount of money before they issue a student visa, even if you will spend it gradually. This is often the single biggest hurdle for families, because the money must be in place months before departure.

• Germany usually asks for a blocked account holding roughly one year of living costs, released to you month by month after you arrive.
• The UK asks you to show remaining tuition plus a set amount for living costs, held for 28 consecutive days before you apply.
• Canada asks for proof that you can pay your first year of tuition plus living costs.
• The USA asks your sponsor to show funds for at least the first year, as listed on your Form I-20.

Watch out: Money that appears in an account just before an application raises questions. Plan visa funds at least three to six months ahead, and keep the paper trail for where large deposits came from.

A ranking of countries by sticker price can flip completely once scholarships are included. Universities in the UK, USA, Australia and parts of Europe give merit awards that cut tuition by a quarter, half or more for strong applicants, and government scholarships can cover everything.

Always check the scholarships for a country before you rule it out on cost. Our scholarship finder lets you filter by country, level and full or partial funding.

Most student visas allow part-time work, which can cover a good share of living costs once you are settled. It cannot pay tuition, and visa officers expect your funds to be in place without it.

The first two or three months are the hardest: you are finding housing, opening a bank account and looking for work at the same time. Budget for that period with no income at all.

Cost is only half of the decision. The other half is what the degree leads to. Ask how long it would realistically take to earn back what you spend, through a graduate job abroad or the salary premium the degree brings at home.

• Post-study work routes matter: Canada’s post-graduation work permit, Germany’s 18-month job-search permit, Australia’s graduate visa, the UK Graduate Route and US OPT all give you time to find work after graduating.
• Some fields pay back faster: engineering, computing, data and health careers usually recover costs sooner than fields with crowded job markets.
• A one-year UK master’s means one year of costs and one year less out of work, which can beat a cheaper two-year programme.

1. 1Set your real budget per year, including what you can borrow or what a sponsor can show for the visa.
2. 2Shortlist three to five countries in or near your band, using the cost calculator.
3. 3Check scholarships for each one and note anything you have a genuine chance of winning.
4. 4Compare post-study work options and the job market for your field.
5. 5Book a profile check: we will tell you honestly where your grades and budget fit best.