Loading
For a student, Australia is a country
that is full of promise. With a great standard of living, it is also home to
many renowned universities and prestigious companies across various industries.
This is why it comes as no surprise that numerous international students look
to pursue their further education from
Australia.
If you are
among those students who dream of heading over to Australia for your further
studies, then you are indeed making a smart choice! However, before you can
take your planning any further, there is one aspect that requires your foremost
attention – the cost. Education-related expenses extend well beyond university
fees. There are several other heads of expense that you need to keep in mind
when considering a course down under.
So, let us start by looking at the various expenses that you will come across:
The average
course fee for a student pursuing an Undergraduate Bachelors’ degree is from
anywhere between AUD 30,000 to AUD 64,000. For a student pursuing a
Postgraduate Masters’ degree, the course fee would cost between AUD 31,000 to
AUD 72,000. Please note that these figures are taken based on an average, and
could differ based on the course and university you choose.
There are a
lot of options to choose from when it comes to accommodation in Australia. A
lot of universities provide on-campus accommodation for their international
students, which can come up to a total of AUD 160 to AUD 400, depending on the
university you are pursuing your course at. If the university does not provide
on-campus accommodation, you can choose from rental apartments, boarding
schools, hostels, or even home stays.
Rental
apartments should cost you about AUD 266 to AUD 630 on an average. You can cut
down on this cost by going for a shared rental, which would bring your expenses
down to as low as AUD 136. You can also choose to stay in a hostel which would
cost you about AUD 129 to AUD 215.
The
Australian Government’s Department of Home Affairs of the requires
international students to have AUD 21,041 for their living costs every year. If
you are a student with a spouse, then you will need to add AUD 7,362 to that
amount. You will further be required of an additional AUD 3,152 in case you
have a kid to take care of. Apart from the proof of funds, you will also be
required to show return tickets for yourself and any family members who travel
with you.
The other
living expenses include bills for groceries, gas, electricity, transport, etc.
Considering the average amounts spent on a weekly basis, an international
student studying in Australia pays about AUD 10 to AUD 15 for gas and
electricity, AUD 15 to AUD 30 for their phone and WIFI bills, and about AUD 140
to AUD 280 for groceries.
You can
always take up a part-time job as an Australian student visa permits
international students to work for up to 40 hours every fortnight.
Now that
you have learnt about all the expenses, it is time to think about arranging the
finances. We at Avanse have
got you covered, as we can provide an education loan that will
take care of all these expenses. So, please get in touch with us and we’ll be
glad to be of service!
We hope
this article has helped you, all the best!
We always aim to offer you competitive interest rates on your Avanse Education loan.
The rate of interest on your loan is calculated as: Interest Rate = Avanse Base Rate +
Spread.
Our current Base Rate is 14.25% (WEF 01.05.2023).
The Spread is floating and is based on analysis of overall credit and course profiling.
This rate is subject to the terms and conditions of Avanse Financial Services Ltd.