What is the typical budget required for a MIM program abroad, and how should I plan to finance it (savings, loan, or partial loan) in UK/France?
Expect a total budget of ₹20 - 50 lakh for a Master in Management (MiM) abroad, depending on country and university.
- France: Tuition ranges from €3,941/year (public) to €10,000 - €20,000/year (private). Living expenses: €700 - €1,800/month depending on city.
- UK: Tuition is typically £20,000 - £50,000/year. Living expenses: £1,500 - £1,800/month in London; less in other cities.
For financing, most students use a mix of personal savings, education loans, and scholarships. Indian banks and NBFCs offer loans with flexible terms, and many universities provide merit-based scholarships. Part-time work is also allowed in both countries to help cover living costs.
A balanced approach - combining savings, loans, and scholarships - is recommended for managing costs and repayment.
Cash income, business income or no ITR?
See whether your funds and documents will pass the UK visa check.
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