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

How Expensive is it to Study and Live in the US?
If you are moving to the US for your studies, you might have wondered how much it will cost to live and study in one of the most diverse countries in the world. For students studying in the United States, studying abroad can be an expensive experience if not properly planned.
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.
Universities in the United States are broadly classified into public/state and private. A public/state university's education costs less than a private institution's. Your tuition fee expenditure is determined by the type of qualification and university or school you choose. You will need between $10,000 and $55,000 per year (indicative) to cover tuition.
Humanities, education, and art courses are usually less costly, whereas medicine and engineering are more likely to be more expensive. Tuition fees for postgraduate studies are typically higher, and the costs vary depending on the program.
As in most countries, MBA programs are frequently the most expensive. These programs usually cost around $60,000 on average (indicative). It is best to apply for various scholarships if you want to reduce your educational expenses.

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, such as student housing in New York, student accommodation in Southampton, etc., 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).
The list below shows the average cost of most lodging options in the United States. Prices are only estimates because average expenses vary significantly from state to state.
  • Hostels and Guesthouse - $45 to $100 a night
  • Shared Rental- $470 to $3,600 per month
  • On campus- $800 to $900 each month
  • Homestay- $600-$3,000 per month
  • Rental- $450 per month

Student Visa Expenses

The first proceed 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. When creating your budget, keep the following common expenses in mind:
  • Internet/telephone: $35-$60
  • Food costs between $17 and $42 on average.
  • Rent: $104 - 208
  • Electricity/gas costs between $50 and $100 on average.
  • Transportation costs an average of $36.
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). Learn more about health insurance in the United States.

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.
Every year, the United States of America attracts many international students worldwide due to its world-renowned higher education system. It is home to the most significant number of top-rated universities, which are internationally recognized for their excellence and unique programs, attracting many international students. Because of the global demand for higher education, many aspiring international students are looking for the cost of studying in the United States.
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