A Financial Overview of Living and Studying in Australia

Cost of Studying and Living in Australia for International Students

The world-class education system and breathtaking landscapes of Australia have made it a popular destination for international students. There is, however, a price to pay when studying Down Under. To help prospective students make informed decisions about their academic journey, we’ll take a look at the various aspects of the cost of living and studying in Australia.

Tuition Fees in Australia:

Tuition fees is one of the significant expenses that one has to keep in mind while considering studying in Australia. These fees vary depending on the institution, level of study, and course type. On average, international students can expect to pay between AUD 20,000 to AUD 45,000 per year for undergraduate programs and between AUD 22,000 to AUD 50,000 for postgraduate courses.

Course Level	Average Cost (Annual)
Bachelor’s Degree	AUD20,000 to AUD45,000
Master’s Degree	AUD22,000 to AUD50,000
Doctoral Degree	AUD18,000 to AUD42,000

Living Expenses in Australia:

Apart from tuition fees, students must budget for living expenses, which include accommodation, food, transportation, and personal expenses. The cost of living in Australia can vary based on the city or region. For example, Sydney and Melbourne are generally more expensive than other cities. On average, students should budget around AUD 20,000 to AUD 27,000 per year for living expenses.

1. Estimated Weekly Living Cost in Australia

2. Accommodation Cost in Australia

Accommodation is a significant portion of living expenses. Students can choose between on-campus accommodation, off-campus housing, or homestays. On-campus options often range from AUD 200 to AUD 400 per week, while off-campus housing can vary widely depending on the location and type of accommodation.

3. Transportation Cost in Australia

Transportation costs are another factor to consider. Australia is a vast country, and the cost of getting around can vary. Public transportation in Australia, such as buses and trains, is available in major cities and can cost around AUD 50 to AUD 150 per month. Owning a car involves additional expenses, including fuel, insurance, and maintenance.

4. Food, Clothing & Entertainment:

Food, clothing, and entertainment are essential components of the cost of living. Grocery expenses can range from AUD 80 to AUD 200 per week, depending on dietary preferences and lifestyle. Dining out or enjoying entertainment activities will add to the budget, with restaurant meals costing around AUD 20 to AUD 50 per person. Clothing expenses can vary, but on average, budgeting around AUD 50 to AUD 100 per month is reasonable.

5. Health Insurance in Australia for International Students:

International students are required to have Overseas Student Health Cover (OSHC), which covers medical expenses during their stay in Australia. The cost of OSHC can range from AUD 500 to AUD 2,000 per year, depending on the provider and the level of coverage.

6. Cost of Australian Student Visa (Subclass 500)

International students who are accepted into Australian Universities must obtain an Australian Study Visa. The primary application fee for a subclass 500 Australian Student Visa is AU$ 710. Moreover, the financial criteria for an Australian Visa is pretty strict, therefore, one must have proof to showcase they have enough funds to support themselves in Australia.

7. Other Expenses

In addition to the mentioned costs, students should factor in expenses like textbooks, communication services, social activities, and a contingency fund for unexpected events. 

Language proficiency tests also cost a considerable amount to the students.

Conclusion:

While the cost of living and studying in Australia may seem daunting, with careful planning and consideration, it is possible to make this dream a reality. Prospective students should research thoroughly, create a realistic budget, and explore available financial aid options to ensure a smooth and successful academic journey in the vibrant and diverse educational landscape of Australia.

Frequently Asked Questions Asked by Students