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Education Cost in USA
USINFO | 2013-11-14 10:32
Isn't this the first aspect that comes to your mind when you think about studying in the USA? Indeed you must add up a list of costs when you decide to study in the USA. Before we talk about it, remember that education is an investment and students have done brilliantly in the USA, not only recovering costs but have even made fortunes.
Cost of studying in the US can be divided in to three categories (for ease of understanding):
A. Cost of Application (including academic entrance tests)
B. Tuition Fees and Living Expenses
C. Other Costs (like insurance, visa fee, air ticket, etc.)
| A. Cost of Application: |
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a. Application Fees: $50 to $150 per University b. Courier Charges: Rs 1200 to Rs 1500 per University (US Universities need hard copies of your authenticated documents like transcripts, recommendation letters, etc.) c. Academic Test: Academic entrance examinations will cost you around $100 to $200 per examination, and most students take at least 2 tests. Assume that you will be spending at least $500 on tests d. Score Reporting: Test scores like GMAT, GRE, SAT, TOEFL, IELTS have to be reported by the testing agencies (like ETS), which may cost up to $ 20 per University (an average cost for reporting scores of all tests you may have taken) |
All in all, you may end up spending about Rs 5000 to Rs 6000 per University. Some methods to save costs are available here
| B. Tuition Fees and Living Expenses: |
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Tuition Fees In the USA, tuition fee largely depends on whether you plan to study at a Public or Private Institution (refer to the difference between public and private Institutions here). Estimated tuition fee (per year): Private Institution: $15000 to $30000 per year. At some Universities, it could go beyond $ 40000 per year Public Institution: $10000 to $20000 per year Community College: $8000 to $12000 per year Note: The tuition fee is different for different universities and varies widely with courses and popularity of the Institution. It can vary from as low as $ 5000 per year to as much as $ 50000 per annum for some private universities Living Expenses Estimated Living Cost: $10000 to $12000 (per year). An average of $700 to $1000 per month should be considered as safe This includes your accommodation (room and board), travel, food, some books, some clothing and may be some entertainment expense too. Please find below a range of costs that have been considered while estimating the above listed living expenses: a. Books and study materials will cost $500 to $1000 approximately per academic year b. Travel costs within the US will be between $300 and $700 approximately c. Room and Board will cost between $3000 and $7500 approximately per year. Allow an additional $1000 to $2000 for vacation periods when the dormitory might be closed d. If you will be living off campus, the cost of renting an apartment will be between $300 and $600 a month, but could be much higher contingent on the location of the school. Mealsshould cost about $2500 a year, assuming that you do not fancy too many outings e. Clothing will cost $500 or more annually (if you go to cold place, you better buy some clothes that suit their weather; otherwise you may shiver) f. Personal expenses will cost around $2000 approximately per year The College Board publishes college costs, required admissions tests, and other useful information in The International Student Handbook of US Colleges |
Remember: US Universities offer scholarships, bursaries, financial assistance. If you apply timely and have other factors working your way, you can be in for some luck. You may wish to have a look at the US Admission Process and how do we help
| C. Other Costs: |
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Air tickets: $500 to $2000 (depending when you finish your admission process and / or book tickets) Health / Medical Insurance: $300 to $500 per year per person Car: If you wish to buy a car, assume that it will cost you around $4000 a year Family Member: If you take along other family members with you, assume that your annual expenses will increase about 15% or $5000 approximately for each additional family member |
