Access to education is one of the basic rights of people across the world, and many are extremely lucky to have had the chance to complete at least high school. However, when it comes to pursuing higher education from reputed institutions, especially those that are based in an international destination, there are only few who can afford to study abroad in the destination of their choice.
Although there are several student loans and scholarships made available for young scholars who demonstrate academic excellence, there are external factors like cost and standard of living that determine the overall cost of studying abroad.
While strict financial planning/management is one way to manage costs while pursuing studies in an international university, it is extremely important for students hoping to study abroad to choose from those countries that have a considerably lower cost of living than most nations.
Let us explore some of the most affordable destinations, in terms of cost of living from lowest to highest for students hoping to study abroad
Russia - The country and its people have contributed significantly to different fields, making it a wise choice for students who have a variety of interests. Potential students looking to pursue the arts, such as literature, ballet and music, will find many programs that can cater to their needs. On the other hand, the country is also recognized for its contribution to the sciences and research, making it a potential study destination for students leaning towards taking courses in those fields. Russia is also an ideal country to study the history, cultures and languages of its region, as it provides an environment wherein students learn first-hand about the subject. The different degree programs typically cost around $1500 to $8000 in tuition fees per year. The exact cost varies depending on the major taken as well as the institution granting the degree. In addition to tuition fees, prospective students also need to take into consideration the living costs in Russia. Rent in most cities can cost an average of $250 - $550 for a month.
Hungary - Hungary is a country located in central Europe with a population of 9.8 million people. Its capital, Budapest, is bisected by the Danube River. Its cityscape is studded with architectural landmarks from Buda’s medieval Castle Hill and grand neoclassical buildings along Pest’s Andrássy Avenue to the 19th-century Chain Bridge. The standard of education in Hungary is high, the tuition fees one of the lowest in Europe.The cost of living in Hungary for students is put at 250 Euro to 500 Euro per month. The tuition fee in Hungarian universities is quite low and affordable. These fees vary from school to school and fees for international students have to pay a tuition fee of approximately 1000 - 3000 Euro per year.
Germany – As an emerging education destination, Germany saw a 14 percent increase in the number of international students from 2,82,201 to 3,21,569, enrolled in its universities between 2013 and 2015. Additionally, it has one of the best education infrastructures in the world and is also considered by many as one of the top countries to specialise in engineering and technology.
Despite being a central-European nation, cost of living in Germany is quite low compared to other European countries. The cost to study in Germany approximate $4,000 per year cost.
Poland - As is the case with Sweden, the Polish education system is also very advanced. Even though there is a language barrier, numerous programs are taught in English, out of which two ranked within the top 100 by the Financial Times. An MBA degree from Poland costs roughly $11,000 - $19,000 while the annual cost of living is about $4000 - $6000. However you look at it, that is a steal!
France - France is one of the more favoured destinations for students wanting to pursue an MBA program abroad. The country has a vibrant and diverse student population, so it is relatively easy to settle in quickly, especially if you know the language. However, many universities offer English-taught MBAs, so not knowing French is not a barrier. An MBA from France comes with a price tag of approximately $9,000 - $12,000. Living costs vary according to the city. In Paris, for instance, you would pay around $12,000 per year, while a less cosmopolitan city would probably cost $10,500 annually.
Dubai - The overall education of education in Dubai is comparatively low as in other preferred developed nations. The rapid growth of Dubai and Abu Dhabi mean there are ample career opportunities upon graduation in fields from hospitality to banking to media to medicine. Students choosing to study here can choose from a variety of fields in which to begin their careers. The sum of tuition fees for an undergraduate programme in Dubai ranges between 34500 to 50000 AED (UAE Dirham) per year. The tuition fees for a postgraduate programme in Dubai range between 45000 to 55000 AED per year. The living expenses range between 2600 to 3900 AED per year.
No matter of where a student chooses to study, it is evident that planning well in advance and preparing a budget can go a long way in ensuring they have a comfortable and fruitful stay through the duration of their course.
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