How Expensive is it to Study and Live in the US?

A practical budget plan, on the other hand, can help you better manage your expenses. To state the least, your budget should include housing, food, health insurance, travel expenses, and tuition costs. Here's how you can make studying abroad in the US can be friendly to your pocket:

Tuition Fees

The College Board's estimated tuition fees are hardly ever accurate. It gives you a figure representing the average tuition fees you can expect when studying in the US. Although top-tier US universities (the majority of which are private non-profits) can cost you nearly US$60,000 per year, studying for far less in the US is still possible.

Tuition fees at public universities in the United States are far more affordable. These are typically run as state university systems, which are collections of colleges within a state that share administrative functions while operating as separate institutions.

Accommodation Facilities

Most universities in the United States provide on-campus housing for international students. Living on campus as a resident is affordable; however, you must apply separately and in advance to secure a spot. Off-campus housing is also an option, where you can share apartments with other students or live in a homestay with a local family.

In such cases, you should be adaptable to different cultures and lifestyles. Remember that rental prices vary between cities. Suppose you decide to live in a rented apartment. In that case, you will also have to pay utility bills such as electricity, internet, water usage, and tenant's insurance (in some housing areas).

Student Visa Expenses

The first step to studying in the United States is to obtain a valid student visa, which has its costs (approximately US$ 160 as an application fee). You must apply to and be accepted by a United States institution recognized by the Student and Exchange Visitor Program (SEVP). When you are accepted, the institution's international student office will issue a Form I-20, a paper record of your information in the Student and Exchange Visitor Information System database (SEVIS). You may also be required to attend a personal interview at a US embassy or consulate.

Living Expenses

You should set aside a contingency fund for grocery shopping, social activities, and emergencies. It is best to keep track of your expenses when studying in a foreign country to avoid overspending. Considering other expenses and living costs, a single student's budget in the United States ranges between $10,000 and $25,000 per academic year (indicative), depending on the city in which they live.

Health Insurance in the United States

It is mandatory for all students travelling to the United States to obtain medical insurance before the start of their program. Several American universities and colleges have implemented comprehensive health insurance plans for international students, but this is only applicable while your program is in progress and ends when it is completed. Certain institutions may not provide insurance, so you will need to arrange for private medical insurance. The average annual cost of medical insurance is between $700 and $1,000 (indicative).

Part-time Work in the United States while Studying

This is an excellent way to supplement your income and gain valuable work experience while studying abroad. In the United States, international students are allowed to work 20 hours per week during academic sessions and full-time during vacations. If you choose to work in addition to your studies, your earnings may be taxable.