Team Wizius · · 1 min read
Families often plan for tuition and are then surprised by everything else. A realistic budget covers five groups of costs.
1. Before you leave
- Test fees (GMAT, GRE, IELTS, TOEFL, SAT)
- University application fees — often USD 75–150 per application in the US
- Visa fees, and health surcharges where they apply
- Flights, document attestation and medical checks
2. Tuition and university fees
This varies widely by country, university and course. Public universities in Germany charge little or no tuition; private US universities can cost several times more than public ones.
3. Living costs
Rent, food, transport, phone and internet. Big cities such as London, New York, Boston and Toronto cost significantly more than smaller university towns. Many universities publish an estimated cost of attendance — use it as your baseline.
4. Insurance and one-off setup
Health insurance (often mandatory), a deposit on accommodation, furniture and winter clothing.
5. Currency movement
Your fees are set in foreign currency but paid in rupees. Add a buffer of 5–10% for exchange-rate changes over a one- or two-year programme.
Funding the gap
Scholarships, assistantships, part-time work (within visa limits) and education loans can close the gap. Use our study abroad cost calculator and education loan EMI calculator to see the numbers for your plan.