Sydney is known for its prestigious universities, stunning landscapes, and diverse cultural scene. Students across Sydney can enjoy an enriching experience academically and socially. However, moving to the city requires significant financial considerations, especially for students. Let’s better understand the cost of living in Sydney, Australia.

Key highlights:

• Understanding the cost of living in Sydney
• Sydney student accommodation options
• Importance of education loans to study abroad

Understanding the cost of living in Sydney

The high standard of living comes with high living costs in Sydney, Australia. Here’s a look at the top expenses to evaluate the cost of living in Australia as a student.

Studying and living expenses in Australia – Sydney

Tuition Fees

Tuition fees are a major part of your expenses. The cost varies depending on the course and university you choose. Postgraduate courses can cost between ~AUD 22,000 to ~AUD 58,000 annually.

Accommodation costs

Sydney offers a range of options, from on-campus housing to off-campus apartments. The cost will depend on the location and type of accommodation. Generally, living closer to the city centre or university campuses will be more expensive than living in the suburbs.

Also Read: What students must know about South Australian universities

Travel expenses

Getting around Sydney is relatively easy, thanks to its efficient public transport system, which includes buses, trains, and ferries. Monthly transport costs can range from ~AUD 120 to ~AUD 240. Please do not forget the airfare you need to pay to travel from your home country to your host study destination.

Learning devices and study materials

Having a good laptop or tablet is essential in today’s digital age. Additionally, you might need to invest in software or other study materials, depending on your course requirements. These costs can add up, so it’s wise to budget for them beforehand.

Living expenses

Living expenses include food, utilities, and other day-to-day costs. Eating out in Sydney can be expensive, so cooking at home is a more budget-friendly option. Utilities like electricity, internet, and phone bills are additional costs. Living expenses can range from ~AUD 1,500 to ~AUD 2,500 per month in Sydney, depending on your lifestyle.

Cost of living in Sydney for Indian students

Indian students must consider the average annual cost of living in Sydney, Australia and plan accordingly. Weekly, they could spend around INR 27,000 to ~INR 68,250 on accommodation, food and groceries, utilities, public transport, and other lifestyle expenses. Given this, the average annual cost of living could be between ~INR 11,90,000 and ~INR 30,05,000.

Also Read: Interesting guide about Australian Student Visa with the latest updates - 2024

Sydney student accommodation options

On-campus accommodation

Students can live in on-campus dormitories and rooms and access daily meals at a mess or canteen. When you stay on campus, you can benefit from a safe and secure environment and enjoy easy access to your classes. Please check if your campus has a mess. If not, you can choose to cook in your room if you have the space.

Shared home off-campus

Many young students rent a large home near the university and share the costs. Off-campus homes offer students more flexibility and independence. However, it also comes with more responsibilities. You must take care of all your bills and even manage coordination with the landlord.

One-bedroom unit

Few students may want to live alone. The easiest way to manage this is by opting for a one-bedroom unit rental near campus. However, living like this often means additional responsibilities.

Also Read: What is Australia’s Temporary Graduate visa and what students must know about the latest developments

Sydney student rent

Accommodation costs in Sydney are typically calculated on a per-week basis. Weekly rent at on-campus accommodation could range between ~AUD 350 to ~AUD 630. Accommodation with a catering plan could be between ~AUD 390 and ~AUD 580 per week. Off-campus shared flats can cost between ~AUD 240 and ~AUD 290 per week. Opting for a single one-bedroom unit could cost around ~AUD 550 to ~AUD 700 per week.

Sydney is an exciting and rewarding destination for Indians, making it a popular place to study in Australia. While the cost of living in Sydney is higher than in many other cities, careful planning, budgeting, and an education loan can help you manage your expenses effectively.

Choosing to study abroad can open the doors to better career prospects. However, many students struggle to budget and find the funds to study and live comfortably. Thankfully, education loans can help. At Avanse Financial Services, we offer education loans to study abroad that cover the holistic cost of education, including tuition fees, accommodation costs, travelling expenses, cost of learning devices and other education-related expenses. To know about the education loan rate of interest, flexible repayment terms, and more, please connect with us.