Budgeting Your Overseas Education in USA
The United States of America is one of the most attractive destinations for studying abroad. USA houses a majority of the world’s top 10 colleges as well as 40% of the top 100 colleges in the world. But a big bottleneck for students in realizing their dreams of graduating from a top American college is the associated costs that come with studying in the United States of America.
The tuition fees and the cost of living represent the majority of study cost in USA. However, the cost of studying in USA varies greatly depending on the course as well as the city. Tuition fee can range anywhere between $5,000 and $50,000 per year. Meanwhile, cost of living generally falls between $8,000 to $12,000 per year. These account for the major expenses but study cost in USA would also include expenses for study material, transportation, and personal expenses. There are other minor expenses which are incurred in the application process which include- GRE/GMAT/IELTS/TOEFL exam fee, college application fee as well as the cost of airfare to the United States.
With all these things taken into account, the average per year cost of studying in USA can be estimated to be $70,000 for an MS program. An MBA program would prove to be nearly double than an MS. But the study cost in USA is easily offset by the sheer number of opportunities available in the United States. A degree from a top US college opens up a host of avenues for the student with very attractive salary packages. The cost of studying in USA can easily be recouped in a few years of graduation from the college.
A number of colleges also offer various scholarship programs to encourage meritorious and exceptional students to come to the US despite a high study cost in USA. In addition to the colleges offering scholarships, there are also a number of fellowship and funding programs which assist the student in meeting their financial needs.
XL Pathfinders offers guidance throughout the cumbersome process of securing scholarship or funding to alleviate the cost of studying in USA and help students fulfill their dreams of studying in USA.