In today’s time, a lot of people aspire to study or settle down in Australia but the problem is that most people face is that they don’t think about the costs involved in studying and living in Australia. For a person who is going from countries like India, Pakistan, Sri Lanka etc. paying bills in Australian dollars while having money in their currencies is very much difficult and pinching but planning the expenses right from the time when to you think of going to Australia might get you out of pain on time. So, let’s see the expenses involved in Australia as follows:
Study Visa Cost
There are many kinds of student visas for Australia, ranging from AU$ 0 to AU$535 (US$415) .
As a part of the visa requirement, you will also need to arrange for Overseas Student Health Cover (OSHC) for yourself and any accompanying family members, which has to be valid for the duration of your stay in Australia.
The cheapest option for a Common & standard undergraduate student OSHC (duration 3 years, starting in March & finishing in December) with no accompanying family to be AU$1,711 (US$1,330) and the most expensive OSHC was AU$2,462 (US$1,910). Reducing the time to a year (master’s degrees are usually between one and two years) will cost you about for one year AU$418 (US$325), while for 2 years will cost you about AU$901 (US$700).
Also, apart from showing an evidence of OSHC insurance when you apply for a visa, DIBP also asks you to show evidence that you have access to sufficient funds before you leave in order to cover the cost of living in Australia for the first one or two years.
Cost of Education
The cost of education in Australia depends on the type and duration of your studies.
Like, English Language Courses will cost approx. $300 / week. Vocational training or education, on the other hand, will cost you around $4,000 – $22,000.
Undergraduate Bachelor Degrees will have an expenditure of $10,000 to $33,000 per year. The Higher cost is associated with pursuing your degree from a private university. Studies done in a public institution will cost less.
Postgraduate Master Degree has will cost approx. $20,000 to $37,000 per year, while cost for Doctoral Degrees on varies from $14,000 to $37,000.
Cost of Living
On a general basis, the Department of Immigration and Border Protection requires $18,610 as the minimum cost of living with you to issue you a student visa. Also, your living expenses in Australia will depend highly on which region you plan to live in Australia. For example, more urbanised areas will have higher costs for accommodation.
The Hostels and guest houses range from approx. $80 to $135 a week, while shared rentals and on-campus accommodation will cost you approx. $70 to $250. [Even more expensive options are homestay (approx. $110 to $270 per week) and rental (approx. $100 to $400 per week).
Apart from accommodation, the weekly expenses will also include groceries or eating out (approx. $80 to $200), gas and electricity (approx. $60 to $100), phone and internet (approx. $20 to $50), public transport (approx. $10 to $50) and entertainment (approx. $50 to $100).
So, these things you have to keep in Mind if you are planning to study in Australia.