Introduction:
One of the major factors that determine to go to a country for higher education is cost. The cost of studying and living in the United States are the main factors that determine that the United States is a potential destination for higher education. Tuition fees in the United States vary by university, course, and city within a country. Colleges in the United States that offer long-term graduate programs may cost more than the typical one or two years of postgraduate studies. Indian students studying in the United States should keep in mind that tuition fees are much lower for government-funded companies than for private universities.
Cost of Studying in US universities:
The costs of studying in different US colleges and universities vary. There are differences between government and private educational institutions cost. The following is a table of those costs:
| USA colleges | Undergraduate tuition fee | Postgraduate tuition fee | MBA tuition fee |
| Private university | $ 32000 | $ 35000 | $ 60000 |
| State university | $ 24000 | $ 30000 | $ 48000 |
| Community college | $ 200 per credit* | $ 250per credit* | — |
The average cost of studying in the United States:
For the United States, the tuition fee is a major expenditure. This is true that students living in the city will spend more money than students who prefer to live in the suburbs of the country. On average, a student spends about $ 10,000 to $ 12,000 per year on living expenses. However, this amount depends entirely on a student’s residence. If a student decides to live in a metropolitan city, he or she will spend more than a student opting for a hostel or suburban residence.
- Average studying cost (tuition) in the United States — 17.98 $
- Average living cost in the United States – 7.37 $
Cost of living in the United States:
Living expenses usually include the cost of accommodation, house and boarding, meals, travel, textbooks, clothing and entertainment expenses. Other expenses covered by living expenses include travel expenses between India and US, Large purchases, such as PCs, furniture, and even a rental car; The cost of treatment covered by health insurance, that is dental care, eye care, cosmetic treatment, social out weekend trips and personal and variable expenses. With these things in mind, we have compiled an overall average life expense index for students wishing to travel to the United States.
Food cost:
Students are not supposed to live in luxury. America gives people all kinds of options. Indian students have the option of dining at cheap restaurants for thirteen dollars. Two people can have their meal by fifty dollars. McDonald’s combo meals cost only seven dollars. Domestic beer costs four dollars.
Transportation cost:
In the United States transportation is not a major issue for the students. They use the public transport system which consists of buses, cabs and trains. Also, there are vehicle rental benefits. Students often use carpools to move from one place to another.
Other expenses:
America is full of options and temptations that can cost extra. So, one needs to be careful. Also, health insurance is an additional expense. Also, there are various expenses associated with buying books, stationery, etc. that eating food at a cheap restaurant can save food cost. One can use pool cars for travel and libraries to borrow all books.
Conclusion:
There are a number of banks and financial institutions that are interested in giving study loan for a student’s education abroad. However, candidates must adhere to their guidelines in order to be considered successful for a loan to study abroad. Those interested in studying in the United States and who wish to do so through education loan should provide documentation and security against their loan amount.
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