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June 5, 2023

Fee structure of USA universities

Fee structure of USA universities

Due to its highly regarded higher education system, the United States of America draws a sizable number of international students worldwide each year.

It is home to the most significant number of highly regarded universities that are known for their excellence and distinctive programs throughout the world, attracting a sizable number of international students.

Many prospective international students seek information on the cost of studying in the United States due to the considerable global demand for higher education.

The direct cost of education in the USA is the tuition price, and colleges are split into private and public/state institutions. Comparatively speaking, public and state universities charge less tuition than private colleges. Tuition costs vary depending on a person’s degree program and institution of higher learning.

For international students to attend a university in the USA, they must pay between ₹20 and 46 lakhs annually in tuition.

Higher education system in the USA

International students can access a broader range of higher education options in the USA. The American educational system offers the following degrees at more than 4,500 universities.

  • Bachelor’s degree

In the United States, obtaining an undergraduate degree takes four years of full-time study. 

  • Associate degree

This is offered to individuals who wish to pursue an undergraduate diploma degree. The two-year associate degree program is offered through community colleges.

  • Master’s degree

Universities in the USA grant graduate degrees after two to three years of study. 

  • Doctorate

A doctoral degree can be earned at a university in the USA in five to eight years.

Types of Institutions for Higher Studies in the USA

  • Community Colleges: They are experts in providing two-year associate degrees or certificates.
  • Institute of Technology: Students interested in a short-term science and technology program should consider attending an institute of technology.
  • Private University or College: operated by private institutions
  • State University or College: The municipal or state government contributes to the cost of education.

Study costs for Indian students in the USA

The total cost of tuition for a student will be entirely determined by the sort of program, prerequisites, and school they choose. Compared to fields like medicine, engineering, and business management, the costs of humanities, education, and arts courses are far lower.

The study programs and their typical annual tuition are listed below:

  • Undergraduate: ₹6.5 – ₹33 lakhs
  • Associate: ₹3 – ₹4 lakhs
  • Postgraduate: ₹8.2 – ₹50 lakhs 
  • Doctoral: ₹23 – ₹46 lakhs

Study costs in the USA at top universities

UniversityQS World University Rankings 2023Average Annual Tuition Fees in Rupees
Massachusetts Institute of Technology (MIT)1₹41 – 46 lakhs
Stanford University3₹20 – 46 lakhs
Harvard University5₹20 – 42 lakhs
California Institute of Technology6₹36 – 47 lakhs
University of Chicago10₹46 – 49 lakhs
University of Pennsylvania13₹49 – 51 lakhs
Princeton University16₹46 – 48 lakhs
Yale University18₹47 – 50 lakhs
Cornell University20₹46 – 50 lakhs
Columbia University22₹47 – 64 lakhs

Study costs according to courses in the USA 

Depending on their chosen course, Indian students pay different amounts to study in the United States. The American institutions provide a wide range of alternatives.

Here is a brief overview of the best courses in the USA.

  • Business and Management
  • Engineering and Technology
  • Law
  • Liberal Arts
  • Marine Biology and Life Sciences
  • Maths & Computer Science
  • Medicine
  • Social Sciences

Top courses in the USA and tuition fees

Top coursesDurationAverage annual tuition fees
BSc Nursing (BSN)4  years₹37 lakhs/year
MBBS (BS+MD+Residency)8-10 years₹33 lakhs/year
LLM1 year₹50 lakhs/year
MA Applied Economics2 years₹29 lakhs/ year
MBA2 years₹57.5 lakhs/year
MPH1 to 2 years₹41 lakhs/year
MSc Computer Science1 to 2 years₹41 lakhs/year
MSc Data Science1 to 2 years₹57.5 lakhs/year

Cost of living in the USA 

A vast portion of the costs associated with studying in the USA and the cost of school is the cost of living. The living cost in the United States varies depending on a student’s lifestyle, and anyone on a limited budget might choose student housing. 

Costs associated with studying in the USA

The following additional costs add to the overall annual expenditure:

  • Rent for housing, including utilities: ₹17-20 lakhs
  • Dormitory housing: ₹6 – ₹10 lakhs
  • Food: ₹6 – ₹7 lakhs
  • Books and Supplies: ₹11 – ₹12 lakhs
  • Transportation: ₹1.5-2 lakhs
  • Miscellaneous: ₹1 lakh
Conclusion 

USA universities and colleges have tremendous exposure and scope for career building. That is why it is an excellent destination to send your child to study.

But at the same time, it is costly for many people. When looking for universities for your child, always look for scholarships and financial aid options.

If there is any confusion regarding the fee structure or a need for any advice, our team of efficient financial advisors is just a call away to clarify your doubts.

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10 Benefits of Studying in Canada!

10 Benefits of Studying in Canada!

What is the appeal of studying in Canada? In the last 8-9 years, Canada has steadily grown in social standing as the desired location for higher education. It ranks among the most popular destinations for Indian students. Indians make up 41% of Canada's international student body and our the largest student group in the country. Quality education, graduate assistantships, and many government policies regarding immigration are some of the reasons why you should consider Canada for your child’s higher education.  For students who are seeking programs that are cost-effective and shorter in duration, allowing them to cut down on living expenses, Canada has the most acceptable community education system in the world. https://www.youtube.com/watch?v=2d3XNHbB8II&t=84s Source: EduFund Major Benefits of Studying in Canada 1. Academic Skills Education is a federal responsibility, regional governments ensure that the standard of education is uniformly high across Canada, no matter what kind of institution - college/university. Regarding educational streams, all types of programs from different strands are accessible in Canadian academic institutions. Financing Children's Masters in Canada Read More 2. Developmental skills Co-operative work is a wonderful concept in Canada that supports students with employment options in their related sectors while attending university. As a result, an engineering student is granted the chance to participate in work for an engineering firm while studying. This gears up students for actuality by exposing them to a work situation early and instills professionalism with skill development. 3. Quality of life  Canada has repeatedly been graded as being among the world's safest countries. The Global Peace Index ranked Canada as the sixth most peaceful place in the world in 2018. International students enjoy the same entitlement as any other Canadian student. Standard of living also refers to necessities of life such as atmospheric air, safe drinking water, the feeling of space, and so on, as well as other life-related factors such as significant exposure to the best health care services, and strong educational infrastructural facilities.  Can your Child Study MBA in Canada for under INR 40 lakhs? Read More 4. Cultural diversity  Canada is a friendly and accepting community. Individuals from different countries of the world have been planning to migrate to Canada for a long time. This gives Canada a competitive advantage in terms of diverse cultures. Canadians respect other cultures and see them as a symbol of motivation and strength. Students can enjoy festivals of all racial backgrounds year-round, and the best part is that the festivities are not confined to the ethnic community. Still, the rest of the country embraces all festive celebrations. 5. Immigration opportunity  Since overseas students spend much time in Canada, they will become potential Canadians. They are given adequate opportunity to comprehend and adopt Canadian culture while studying and up to three years to recognize Canadian work culture. What it ends up in is likely to be prospering once the studies are completed. Indian students are opting for Canada for their university education, and interest in Canada is growing significantly yearly. https://www.youtube.com/shorts/x9B8449Iuw4 EduFund The number of Canadian college graduates between 2000 and 2019 From 2000 to 2019, the number of university graduates in Canada increased Number of postsecondary graduates in Canada in 2019, segmented by degree type Better paying jobs for children of Canadian immigrants According to a Statistics Canada report, the children of economic immigrants attend school longer and have higher-paying jobs than the typical Canadian-born employee. By the age of 30, the children of economic immigrants in Canada earn more than the average Canadian worker by 29.3%, commanding a median annual wage of $55,500 versus the $42,940 made by the average Canadian employee of the same age. Economic immigrants' children can command higher wages because they attend college or university at a higher rate than Canadians. International students in Canada International students enrolling in formal education increased from 142,170 in 2010/2011 to 388,782 in 2019/2020 in just ten years. As a result, by 2019/2020, the amount of international enrolled students improved from 7.2 percent to 17.8 percent. Within ten years, one out of every ten international students arrived in Canada in 2000 or became a landed immigrant. As a result, new ideas are being inspired, innovation is being boosted, and people-to-people relationships are being strengthened, all of which are important for international commerce and worldwide trade. The number of international students intending to study at the secondary and primary school levels has been declining in recent years. Meanwhile, that has been countered by an increase in the percentage of individuals planning to study for a college or master's degree. https://www.youtube.com/watch?v=NZeyrQNJ9Kc More Advantages of Studying in Canada 1. Affordable and Quality Education Compared to other options such as the US and the UK, Canada offers a highly affordable and quality education for its students. Education fees may differ depending on your chosen university, but you can still save a lot of money while studying in Canada. These universities and colleges offer high-quality academic programs and research opportunities and are consistently ranked among the top global institutions.  2. Cost of Living A single person's monthly cost is approx Rs. 83,307.6 (1,347.1C$) excluding rent.  Most institutions offer courses with tuition fees starting from CAD 15,000 (Rs. 9,03,999). The cost of living for a single student is around 880 CAD (Rs. 53,034) per month. Monthly expenses including rent are approx $1,708 per month per person and $3,911 for a family of four.  If we count accommodation, food, clothing, groceries, health, transportation, entertainment, travel, etc., a student will require approx Rs. 9,00,000 to Rs, 22,00,000 to cover all expenses. (CAD 18,340 approx). To counter this, students can apply for an International Student Identification Card upon their arrival in Canada. This provides many benefits to the global student community such as discounts for shopping, culture, food, access to student services and facilities internationally, etc. It helps prove your student status in over 130 countries since it is the only internationally recognized proof of full-time student status endorsed by UNESCO.  3. Standard of Living After reading about the cost of living in Canada, you might say it is expensive, however, the standard of living here makes it all worth it. High-quality education, lucrative job opportunities, cultural diversity, and accessibility of public services on par with its own citizens make Canada one of the countries with a high standard of living.  4. Safety and Security Canada takes its student safety very seriously, particularly for international students. Students living on campus have a 24-hour security measure in place for them. Canadian citizens on the other hand are warm and welcoming and respect diverse cultures making these students feel comfortable in their home country. There are many safe options for student accommodation outside the campus as well.  5. Work opportunities for students  The study permit in Canada allows international students to work up to 20 hours/ week, which helps them supplement their income. Apart from the opportunity to earn extra income, students also get to experience the professional environment of working in Canada. However, be mindful of not violating the terms of this study permit which can lead to loss of student status and permission to work in the future.  6. Job Opportunities Canada provides a Post Graduate Work Permit (PGWP) to its international students which allows them to work for up to 3 years after the completion of their course. However, a PGWP is issued only if you have graduated from a Designated Learning Institute. Also not all Designated Learning Institutes and programs of study make you eligible for PGWP. There are several other criteria you need to fulfill. Go through them carefully then make an informed decision.  Several immigration policies also allow students to apply for permanent residency and work while they study.  FAQs How much does it cost to study in Canada? The cost of studying in Canada depends on your chosen institution, your type of education/ course, as well as your living expenses. However, the cost would be approximately CAD 36,000 (INR 22,00,000) a year for international undergraduate students and CAD 21,100 (INR 13,04,434) a year for international graduate students.  Is it safe for female students to study in Canada? According to the Canadian Bureau of International Education (CBIE) annual international student survey of 2021, 79.2% of respondents consider Canada to be a safe and stable country. Plus, the on-campus 24-hour security measure allows you to be tension-free regarding the safety of your child. So, yes it is safe for girl students.  Which are the best places to study in Canada? Montreal, Toronto, Vancouver, Ontario, and Quebec City are some of the best places to study and work in Canada. These places also offer several part-time job opportunities for international students.   What is a Letter of Intent (LOI) and do I need to submit it to study in Canada? A Letter of Intent is a document that states your reasons for studying in Canada, your professional and academic goals, and your past qualifications in your home country.  Yes, you need to submit the LOI to acquire a study permit in Canada.  Can students work while studying in Canada? Yes, the study permit in Canada allows you to work for 20 hours/ week. You have to be careful not to violate the terms of the study permit.  One of the main reasons students like to study in Canada is the high quality of education. Many Canadian universities offer cutting-edge innovative exploration and new technologies. Canadian universities typically hold the highest international rankings and offer amazing placements and a chance to live in the world’s most peaceful cities in the world. Hence, considering Canada for your child's higher education is a good choice. TALK TO A STUDY ABROAD EXPERT
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