Did you know that, as of January 2024, Educational programs enrolled 567,505 international students in Australia?
With such a significant number of international students enrolled in educational programs in Australia, knowing the financial landscape becomes crucial for prospective students.
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From tuition fees averaging ₹20 lakhs per year to living costs of about ₹10 lakhs in a city like Sydney or Melbourne, smart budgeting is essential for a successful educational experience down under.
In this article, we will walk you through the Australian university fees, MBA fees in Australia, and the costs of studying in Australia for international students.
Key Highlights:
| Topic | Key Highlights |
| Popularity and Cost of Studying in Australia | -Home to the Top 7 Universities in the world -76% student satisfaction -High ROI |
| Cost of Australia Student Visa and Insurance | -Australia Student Visa (Subclass 500) Cost -Financial Requirements for Visa Application -Overseas Student Health Cover (OSHC) |
| Transportation Costs in Australia | ₹8,000-₹10,000 |
| Financial Aid and Scholarships | -Australia Awards -Endeavour Leadership Program -University-specific Scholarships |
| Tips for Managing University fees and expenses in Australia | -Budgeting and expense tracking -Expense programs and third-party providers -Finding cheaper airfare and accommodations |
With the stage set, let’s zoom into the cost specifics, starting with the popularity and fame that come with a degree from an Australian University.
Exploring the Popularity and Cost of Studying in Australia
Australia is rising in popularity, and the graph below shows how the country has grown over the years.
The dip in 2020-2022 is affected by the Covid-19 pandemic, according to the statistics of the Australian Government.
Also Read: November Intake in Australia 2024: Top Reasons and Universities
Australia stands out as a leading study destination, marked by:
This emphasis on quality education and student success underscores why many choose Australia for their studies.
Now that we have an idea about the popularity and cost of studying in Australia let’s see what we have when it comes to the problems that most students face. Brace yourself to be open-minded about your concerns!
Cost of Studying in Australia: Primary Expenses
There are several concerns that international students need help with the cost of studying in Australia. Let’s briefly examine the concerns related to the high costs of living and studying in Australia.
- Tuition Fees: Australian universities charge high tuition fees, especially for international students, of approximately ₹10-20 lakhs, which can significantly impact budget planning
- Accommodation Costs: Living expenses in major cities like Sydney and Melbourne are exceptionally high, at least ₹50,000, with rent consuming a large portion of students’ budget
- Daily Living Expenses: Costs for transportation, groceries, and entertainment are substantial and can add up quickly, requiring careful financial management
- Healthcare: While the Overseas Student Health Cover helps, unexpected healthcare expenses can still be a financial burden
- Exchange Rate Fluctuations: International students often face additional financial stress due to the variability of exchange rates affecting their overall expenses.
These factors make it essential for potential students to prepare and budget thoroughly for their educational journey in Australia. Now, look at why students choose Australia for their education.
Also Read: University of Melbourne International Scholarship 2024
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The appeal of Australian study requirements: MBA study requirements
Despite the financial considerations, the appeal of studying in Australia is vital.
These compelling reasons highlight why Australia attracts students globally, even amidst cost concerns.
Also Read: University of Auckland Scholarship for Indian and International Students 2024
Now that we’ve covered why Australia is such a hit, it’s time to tackle the elephant in the room: the costs. Brace yourself; we’re diving into the deep end of financial planning.
Now, buckle up as we tackle the elephant in the room—the costs associated with the appeal.
Tuition Costs for Studying in Australia
The cost of tuition is a crucial consideration for international students planning to study in Australia. Here, we outline the general range of fees for undergraduate and postgraduate courses.
| Level of Study | Minimum Tuition Fee (INR per year) | Maximum Tuition Fee (INR per year) |
| Undergraduate | ₹1,080,800 | ₹2,433,600 |
| Postgraduate | ₹1,190,64 | ₹2,701,600 |
Understanding these fee ranges can help students plan their finances and make informed decisions about their education in Australia.
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Cost of Studying in Australia: University Fees
- Tuition fees vary widely based on the course and university.
- Some courses, particularly those in business, law, and medicine, may have higher fees than others.
Let’s briefly examine the tuition fee and cost of studying in Australia for an MBA.
Also Read: Top Affordable Universities in Australia 2024: Fees, Eligibility & Scholarships
Below is the tuition fee for some popular universities in Australia.
| University | Tuition Fees (INR) |
| University of Melbourne | ₹27,00,000 |
| Australian National University | ₹26,00,000 |
| University of Sydney | ₹29,00,000 |
| University of New South Wales | ₹32,00,000 |
| University of Queensland | ₹46,00,000 |
| Monash University | ₹27,00,000 |
| University of Western Australia | ₹29,00,000 |
| Queensland University of Technology | ₹46,00,000 |
- The University of Melbourne charges around ₹21 Lakhs per year for undergraduate courses.
- For postgraduate courses, the fees range from ₹30 lakhs.
Also Read List of Permanent Residency (PR) Courses in Australia 2024
Explanation of Tuition Fee Calculation per Unit
Australian universities determine tuition fees based on the number of credit points or units a student enrols in, each with a specific fee. Universities calculate the total cost by multiplying the unit fee by the number of units for the course. This method helps international students budget effectively for their education.
Example Calculation: Let’s take an example to understand better
- Course: Bachelor of Science
- Unit Fee: ₹50,000
- Number of Units: 8
- Total Fee = ₹81,000 × 8 = ₹6.48 lakhs
Also Read: New Zealand Student Visa 2024: Processing Time, Requirement & Fee in Indian Rupees
Now that we have understood the tuition and Australia university fees, let’s see what other costs students must incur when studying there.
Accommodation Costs in Australia
Finding suitable accommodation is a crucial aspect of studying abroad in Australia. Understanding the various options and associated costs can help international students make informed decisions and budget effectively for their stay.
| Accommodation Type | Average Cost (INR per week) | Description |
| On-Campus | Starting from₹40,000 | Located within or near campus Offers convenience and a vibrant student community |
| Homestay | Starting from ₹23,000 | Living with a local host family Provides a cultural immersion experience May include meals |
| Shared Rental | Starting from ₹31,000 | Renting a room in a shared house or apartment Offers a balance between cost and independence |
By comparing these accommodation options, students can make informed decisions based on their budget and preferences, ensuring a comfortable and enjoyable stay during their studies in Australia.
Also Read: Best Cheap Universities in Australia 2024: Universities, Scholarships and Eligibility
Have you sorted out your future home? Great! But as a wise man once said, ‘You gotta eat,’ so let’s break down the daily living expenses next.
Cost of Living in Australia
Understanding living costs is essential for international students planning to study in Australia. Here, we provide a breakdown of weekly and monthly living expenses, including utilities, internet, groceries, eating out, transportation, entertainment, and miscellaneous costs.
| Living Expense Category | Average Monthly Cost (INR) |
| Utilities (electricity, water, gas) | ₹ 4,320 |
| Internet | ₹ 4,320 |
| Groceries | ₹17,280 |
| Eating Out | ₹ 3,240 |
| Transportation | ₹ 6,480 |
| Entertainment | ₹ 10,800 |
| Miscellaneous | ₹10,800 |
| Total Monthly Living Expenses (Approx) | ₹57,360 |
| Total Monthly Living Expenses (Approx) | ₹57,360 |
These estimated costs can vary based on individual lifestyles and locations. However, having a general idea of these expenses can help students plan their budgets effectively while studying in Australia.
Also Read: Why Study in Australia 2024-2025: Top 10 Reasons Why Australia is Better?
Are you wondering how you’ll make ends meet? Don’t worry; we’ve got the scoop on Australian student visa and insurance costs coming right up.
Cost of Australia Student Visa and Insurance Costs
Understanding the costs and requirements of an Australian student visa and health insurance is crucial for international students planning to study in Australia.
Australia Student Visa (Subclass 500) Cost: Australia Study requirements
- The Australia Student Visa (Subclass 500) application fee is ₹33,000
- Additional fees may apply for dependents included in the application.
Financial Requirements for Visa Application: Australia study requirements
- Applicants must demonstrate access to at least ₹10 lakhs per year for living costs.
- Course fees, travel expenses, and Overseas Student Health Cover (OSHC) may require proof of funds.
Overseas Student Health Cover (OSHC) Requirements and Costs: Australia study requirements
- OSHC is a mandatory health insurance for international students in Australia.
- Costs vary depending on the duration of stay and provider, averaging around ₹26,000 per year for singles.
By being aware of the financial obligations and health insurance requirements, students can better prepare for their studies and stay in Australia, ensuring a smooth transition and experience.
Also Read: Intakes in Australia in 2024-2025: Deadline and documents.
Alright, you’re almost a budgeting ninja now. But wait, there’s more! Let’s not forget about getting around—here come the transportation costs.
Cost of Studying in Australia: Transportation Cost
- Monthly public transport passes for buses, trains, and trams in major cities like Sydney and Melbourne cost approximately ₹8,000-₹10,000
- Students can also use prepaid travel cards for discounted fares on public transport.
- These cards can be topped up as needed, providing a cost-effective option for regular commuters.
- Students can access discounts and offers through these cards, reducing transportation expenses.
- Understanding these options can help students manage their budgets effectively while studying in Australia.
Also Read: Minimum PTE Score Required For Australia in 2024
Most of you are wondering about how you can get your money back. Let’s dive deeper and understand the statistics and the high-paying jobs for Indians in Australia.
Cost of Studying in Australia vs ROI
Studying in Australia involves significant financial investment, with tuition fees for international students ranging from INR 15-20 lakhs per year.
Despite these costs, the return on investment (ROI) can be substantial. Graduates from Australian universities typically command competitive salaries, averaging around INR 40-50 lakhs per annum.
The above graph depicts the Average salary in INR(per year) as you graduate from top universities in Australia.
With high employability rates and promising career prospects, the long-term benefits outweigh the initial expenses, making studying in Australia an attractive option for many aspiring students.
High-paying jobs for Indians in Australia
Indians with solid IT skills are in high demand in Australia. This translates to high-paying jobs across various sectors, but opportunities extend beyond technology.
Australia’s thriving economy offers attractive salaries in medical, engineering, and event management. For skilled professionals seeking a rewarding career abroad, Australia presents a compelling destination with a welcoming environment and a high quality of life.
| Job Profile | Qualification/Eligibility | Average Annual Salary (in INR) |
| Psychiatrist | MBBS and MD Diploma in Psychiatric Medicine (DPM) | ₹13,40,934 |
| Surgeon | MBBS MS in General Surgery | ₹19,21,725 |
| Anaesthetist | MBBS MS in Anaesthesia | ₹23,55,719 |
| Internal Medical Specialist | MBBS and MDMS BDS and MDS | ₹20,90,007 |
| IT Portfolio Manager | Bachelor’s degree in Finance IT experience | ₹14,28,240 |
| Chief Financial Officer (CFO) | Bachelor’s or Master’s degree in Accounting Finance-related studies with the ACCA qualification | ₹14,28,240 |
| Head of Technology | Bachelor’s degree in Programming Computer Science Computer Engineering | ₹15,00,000 |
| Investment Director | Bachelor’s degree in Finance Economics Business Accounting (Master’s preferred) | ₹15,00,000 |
Are you feeling the pinch? Hold onto your hats because we have good news: financial aid and scholarships that can help ease those financial woes.
Financial Aid and Scholarships for Australia study requirements
Financial aid and scholarships are crucial in supporting international students’ education in Australia, easing the financial burden and enabling them to pursue their academic goals.
| Scholarship Name | Eligibility Criteria | Benefits |
| Australia Awards | Available to students from selected countries for full-time study, like the Asia-Pacific, Middle East, Africa, and the Americas regions | Covers full tuition fees travel allowance & stipend |
| Endeavour Leadership Program | For high-achieving students undertaking postgraduate study | Covers tuition fees Australia visa fees Travel establishment allowance |
| University-specific Scholarships | Vary based on institution and program | Offers partial or complete tuition fee waivers |
These scholarships provide significant financial support for international students in Australia, covering a range of expenses and providing opportunities for academic and personal growth.
Also Read: Cost of Living in Australia for International Students 2024: Complete Guide
Tips to Manage the Cost of Studying in Australia
Managing expenses and saving money is crucial for international students studying in Australia. Here are some practical tips to help you budget effectively and maximise your finances.
Tips for Managing Expenses and Saving Money
By following these tips, international students can effectively manage their expenses, save money, and enjoy a more affordable and fulfilling experience while studying in Australia.
Also Read Scholarships in Australia for Indian Students 2024: Benefits & Eligibility
So, you’re armed with budgeting tips and maybe feeling a tad more financially savvy. Let’s bring it all together and head to our conclusion, shall we?
Conclusion
Studying in Australia offers a world-class education but comes with significant costs. International students need to consider both the financial implications and the educational benefits.
Also Read: Australia Fully & Partially Funded Scholarships for International Students
Scholarships and financial aid can alleviate some of the burden. Studying in Australia is a valuable experience that fosters personal and professional growth. By understanding the costs involved and exploring available scholarships, students can make informed decisions to ensure a fulfilling and enriching educational journey in Australia.
If you want to start your journey to studying in Australia, connect with us! Book a free call with our experts and find out what universities and courses you’re compatible with.
Frequently Asked Questions
Q: Is it expensive to study in Australia?
A: Studying in Australia can be expensive, with tuition and Australia visa fees varying depending on the course and institution. Students must budget for living expenses, accommodation, health insurance, and other costs. However, scholarships, grants, and part-time work opportunities are available to help offset these expenses.
Q: What is the cost of a student visa for Australia?
A: The cost of an Australian student visa (subclass 500) for Australia varies based on the applicant’s circumstances. As of 2024, the base application fee for the principal applicant is ₹33,000, with additional fees for family members. Other costs include health assessments, police certificates, and biometrics. Applicants should also budget for translation of documents, courier fees, and other services. These fees are subject to change, so checking the latest information on the Department of Home Affairs website is essential.
Q: Do I need IELTS to study in Australia?
A: Most Australian universities and colleges require international students to demonstrate English proficiency, and IELTS (International English Language Testing System) is a commonly accepted test. However, some institutions may accept other English proficiency tests or evidence from previous English language studies.
Q: How much can a student earn in Australia per month?
A: The amount a student can earn in Australia per month varies depending on factors such as the type of job, location, and hours worked. As of 2024, the minimum wage in Australia is ₹1267 per hour, but students may earn more depending on the industry and position.
Q: How much is rent in Australia per month?
A: Rent in Australia varies depending on the location, size, and accommodation type. On average, students can expect to pay for On-Campus accommodation starting from ₹40,000. Homestay options begin at ₹23,000, and Shared rentals are available from ₹31,000.
Q: How many hours can a student work in Australia?
A: International students on an Australia student visa (subclass 500) in Australia are generally allowed to work up to 40 hours per fortnight (two weeks) during the semester and unlimited hours during scheduled course breaks.
Q: How much does Australia pay per hour?
A: As of 2021, the minimum wage in Australia is ₹1800 per hour. However, this rate can vary depending on the industry, type of employment, and the worker’s age. Many jobs in Australia pay above the minimum wage.
Q: Is an Australian student visa difficult?
A: Obtaining an Australia student visa (subclass 500) can be straightforward if you meet all the requirements and provide the necessary documentation. The key is to carefully follow the instructions provided by the Department of Home Affairs and seek assistance from a qualified migration agent if needed.
Q: What is the average monthly cost of studying in Australia for international students?
A: The average monthly cost of studying in Australia for international students can vary depending on factors like location and lifestyle. On average, students should budget around ₹76,405 per month for expenses such as accommodation, food, transportation, and other personal costs.
Q: Are there ways for international students to reduce studying costs in Australia?
A: There are several ways for international students to reduce the cost of studying in Australia. These include sharing accommodation with roommates, cooking meals at home instead of eating out, using public transport or cycling instead of owning a car, and taking advantage of student discounts and deals.
Q: Do international students need to purchase health insurance in Australia?
A: International students in Australia must have Overseas Student Health Cover (OSHC) for their stay. OSHC helps cover the costs of medical and hospital care, and it is a condition of the Australia student visa. Students can choose from various OSHC providers, and the cost varies depending on the coverage level and stay duration.
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