What is the budget required for studying a master's degree in Canada, Australia, and the UK?
Planning a master's degree requires an estimated total budget of £30,000 to £60,000 for the UK. Meanwhile, Canada requires CAD $60,000 to $120,000, and Australia ranges from AUD $80,000 to $140,000 for the entire program. These figures factor in tuition fees, mandatory visa expenses, and yearly living costs.
When you plan your master's degree abroad, mapping out your overall budget is essential because costs vary widely by destination. Your total expenses will depend heavily on program duration, tuition rates, and regional living costs in your chosen country.
Country Budget Comparison
| Country | Estimated Total Budget |
|---|---|
| United Kingdom | £30,000 - £60,000 |
| Canada | CAD $60,000 - $120,000 |
| Australia | AUD $80,000 - $140,000 |
Key Cost Factors by Destination
- The UK offers a one-year program structure that saves you a full year of tuition and living expenses.
- Canada provides a robust post-graduation work permit of up to three years alongside official living cost guidelines.
- Australia requires mandatory health insurance through OSHC and higher upfront visa application fees.
My Advice
To manage these expenses effectively, start researching specific university tuition fees and local living requirements early. Build a comprehensive financial plan that accounts for both your academic tuition and mandatory health or visa costs.
More expert answers
Here’s the typical budget range for a Master's in Canada or the UK (Jan 2027 intake):
Canada:
- Tuition: CAD 18,000 - 40,000/year
- Living expenses: CAD 12,000 - 18,000/year
- Total: CAD 30,000 - 58,000/year
UK:
- Tuition: £11,000 - 38,000/year
- Living expenses: £10,000 - 15,000/year
- Total: £21,000 - 53,000/year
These estimates cover tuition and living costs and are subject to change. Additional expenses like visa fees and health insurance apply. For a more tailored estimate, discuss your preferred universities and course with your LeapScholar counsellor.
You'll typically need a total annual budget of AUD 42,000 - 80,000 to study in Australia, including both tuition and living expenses. Actual costs vary by city, university, and lifestyle.
- Tuition (Master's): AUD 22,000 - 50,000/year (subject to change)
- Living expenses: AUD 20,000 - 30,000/year (includes accommodation, food, transport, and personal costs)
These are approximate figures and can change based on your choices and location.
If you need help planning your budget or selecting universities, connect with your LeapScholar counsellor.
Got a budget of 40 to 50 lakhs? See what Australia costs.
Full tuition and living breakdown, plus universities that fit your number.
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