Studying abroad can be an expensive affair but planning your budget smartly can help you get a hold on your finances effectively. Before you depart from Nepal, ensure that you consider expenses like accommodation, food, health coverage and travel along with your tuition fee when calculating the estimated cost of studying in Australia. This will help you plan your budget more effectively.

1. Tuition fee is your prime expenditure

Your expenditure on tuition fees depends on the type of qualification and the university or school you opt for. For instance, veterinary and medical degrees cost substantially more than other degrees. The average tuition fees at one of Australia’s tertiary institutions ranges between AUD 20,000 and AUD 30,000 a year.

S.no.

Study Program

Average fees in AUD*

1.

School

$7,800 to $30,000 annually

2.

English language studies

$350-450 weekly (varies as per course length)

3.

Vocational Education and Training (Certificates I to IV, Diploma and Advanced Diploma)

$4000 - $22,000 annually

4.

Undergraduate Bachelor’s degree

$15,000 - $35,000 annually

5.

Postgraduate Master’s Degree

$20,000 - $42,000 annually

6.

Doctoral Degree

$20,000 - $42,000 annually (attractive scholarships up to 100% available with living grants on meeting the university requirements)

*Please note all figures are indicative

The cost of studying also depends on the course you have opted for. Courses such as humanities, art, and education are more affordable while subjects such as medicine and engineering are likely to be on the expensive side. If you wish to study at a postgraduate level, the tuition fee is typically higher, and the costs vary depending on the program. But don’t worry there are various scholarships provided by institutions and government to support your studies in Australia.

2. Where will you live? Calculate accommodation costs

Most universities in Australia offer on-campus residence facilities to international students. You can also opt for off-campus accommodation wherein you can share apartments with other students from Nepal or stay with a local Australian family. The rent varies from city to city and is usually paid two weeks in advance.

Accommodation type

expenses (Indicative)

Hostels and Guesthouses

$90 to $150 per week

Shared Rental

$95 to $215 per week

On-campus

$110 to $280 per week

Homestay

$235 to $325 per week

Rental

$185 to $440 per week

Boarding schools

$11,000 to $22,000 a year

Source: https://www.studyinaustralia.gov.au/english/live-in-australia/living-costs

3. Cost of your student visa

To study in Australia, the first step is to secure a valid student visa that comes with its own costs (approx. AUD 650). Feel free to consult your IDP expert for latest updates and information on the visa application process and related costs.

Read more: All about Australian student visa

4. Living expenses

According to the Human Development Index 2022 and the Quality-of-Life Index 2022, Australia is ranked among the top 10 nations*, which implies Australia is counted in the top countries in terms of GDP, education system, and purchasing power parity index. So, along with the high level of income, it enjoys an excellent quality of health awareness, the medical system and political stability.

Also, with Australia boasting of globally acclaimed educational institutions, it attracts many international students from across the world every year. Besides, the country’s well-structured education system adds to its charm. So, as an international student, it is essential to know an estimate of your cost of living and studying in Australia to plan your finances accordingly.

According to the Australian Government, general living expenses amount to $21,041 per year. An international student spends between $20,000 and $27,000 per year (given your living arrangements and personal choices).

You should also consider these common expenses when creating your budget:

Living expenses

Weekly budget (indicative)

Groceries and eating out

$140 to $280

Gas, electricity

$10 to $20

Phone and Internet

$15 to $30

Public transport

$30 to $60

Car (after purchase)

$150 to $260

Entertainment

$80 to $150

Source:https://www.studyinaustralia.gov.au/english/live-in-australia/living-costs

5. Keep safe. Consider health support and insurance

It is mandatory for all students scheduled to travel to Australia from Nepal to get medically insured before the commencement of their program. The average cost for medical insurance ranges around AUD 500 a year (indicative). Extensive health and support services are readily available for all International students in Australia. IDP can help you get the right Overseas Student Health Cover (OSHC).

6. Transportation. Know how much it will cost to move around

Public transport is the most convenient way of commuting for students in Australia. It not only saves time but money. It’s affordable and won’t make a whole in your pocket. Unless your institution provides a shuttle service to-and-fro from your lodging, you’ll have to rely on the available public transport.

For short distances

For long distances

You can make use of regional trains, buses, and trams. A short ride on a bus or train can cost you around AUD 3. You can get a weekly pass upwards of AUD 20 or a monthly pass for AUD 80. Student discounts are easily available in all states and territories apart from Victoria.

For travelling between different cities, you can avail any of the following options:

Long-distance bus :

Rail

Air

7. Don’t ignore your taxes

International students in Australia cannot work without acquiring their Tax File Number (TFN). With this, you are allowed to work 20 hours per week during academic sessions and full-time during vacations. If you choose to work along with your studies, your earned income will be taxable. It becomes a part of your learning process to manage expenses abroad.

Remember, the exchange rate variations may also affect your budgeting. We suggest you also look for a part-time job while you are studying in Australia or seek scholarships at the universities you apply to. This can help lower your cost of studying abroad to a great extent.

Also, if you have any queries regarding the admission process to study in Australia, you can get in touch with our international education experts. They will be happy to help you


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