It is currently 19 Feb 2018, 17:29

Close

GMAT Club Daily Prep

Thank you for using the timer - this advanced tool can estimate your performance and suggest more practice questions. We have subscribed you to Daily Prep Questions via email.

Customized
for You

we will pick new questions that match your level based on your Timer History

Track
Your Progress

every week, we’ll send you an estimated GMAT score based on your performance

Practice
Pays

we will pick new questions that match your level based on your Timer History

Not interested in getting valuable practice questions and articles delivered to your email? No problem, unsubscribe here.

Close

Request Expert Reply

Confirm Cancel

Events & Promotions

Events & Promotions in June
Open Detailed Calendar

Destinations that don’t burn a hole in your pocket

  new topic post reply Question banks Downloads My Bookmarks Reviews Important topics  
Author Message
Intern
Intern
avatar
Joined: 05 Jan 2018
Posts: 2
Destinations that don’t burn a hole in your pocket [#permalink]

Show Tags

New post 23 Jan 2018, 23:10
While strict financial planning / management is one way to manage costs while pursuing studies in an international university, it is extremely important for students hoping to study abroad to choose countries that have considerably lower cost of living than the others.

Let us explore some of the most affordable destinations, in terms of cost of living from lowest to highest for students wanting to study abroad:

Germany
As an emerging education destination, Germany has seen a 14 per cent increase in the number of international students from 2,82,201 to 3,21,569 between 2013 and 2015. Additionally, it has one of the best education infrastructure in the world and is also considered by many as one of the top countries to specialise in engineering and technology.

Despite being a central-European nation, the cost of living in Germany is quite low as compared to that in other European countries. Apart from little to no tuition fees for studying in German universities, the country has a lower cost of living than Denmark, Switzerland, and Luxembourg. According to the German Academic Exchange Service, international students spend an average of 725 euros on daily expenses, while German students spend 664 euros for their expenses.

Canada
Canada has been a favorite among international students for quite some time now. Apart from being one of the most peaceful, safe, and student friendly nations, Canada is also known for its low cost of living for students. International students typically spend anywhere between 20,000 to 30,000 Canadian dollars annually that covers their tuition as well as living expenses.

New Zealand
New Zealand has an excellent and flexible education system that suits the budget of every student. While the annual living expenses of international students are determined by the university chosen by them, the New Zealand government suggests that students have at least $15,000 to cover their expenses during their first year.

The United Kingdom
Just like New Zealand, the overall cost of living in the UK is determined by the place and/or university selected by a student. For example: University of Liverpool suggests that students have at least £5,500-7,000 to spend per year on cost of living (excluding college & tuition fees). Apart from that, the country's official website for international students suggests preparing a budget that includes college fees (including tuition), food, accommodation rent, travel, and other miscellaneous expenses.
No matter of where a student chooses to study, it is evident that planning well in advance and preparing a budget can go a long way in ensuring a comfortable and fruitful stay through the duration of the course.

Australia
Australia has one of the best cost of living in the world, with living and tuition costs significantly lower than USA as well as the UK. However, the Australian government still advises international students to prepare a budget for the duration of their stay in the country prior to enrolling in any university to manage their finances better. Students can also check if they are eligible for scholarships, which could help reduce their financial burden by a certain margin.
Intern
Intern
avatar
Joined: 22 Jan 2018
Posts: 8
Re: Destinations that don’t burn a hole in your pocket [#permalink]

Show Tags

New post 24 Jan 2018, 08:38
The information about Australia surprised me. For some reason, I always thought they would be one of the more expensive locations to study. Does that number for New Zealand ($15,000) include tuition?
Intern
Intern
avatar
Joined: 21 Jan 2018
Posts: 6
Re: Destinations that don’t burn a hole in your pocket [#permalink]

Show Tags

New post 25 Jan 2018, 18:42
This is a really nice list. I haven't been able to find one like this that includes tuition. If anyone would like to look at the cost of living outside of tuition, Numbeo has a 2018 ranking of the costs of living in every country including things like rent, groceries, eating out, etc.
Re: Destinations that don’t burn a hole in your pocket   [#permalink] 25 Jan 2018, 18:42
Display posts from previous: Sort by

Destinations that don’t burn a hole in your pocket

  new topic post reply Question banks Downloads My Bookmarks Reviews Important topics  


GMAT Club MBA Forum Home| About| Terms and Conditions| GMAT Club Rules| Contact| Sitemap

Powered by phpBB © phpBB Group | Emoji artwork provided by EmojiOne

Kindly note that the GMAT® test is a registered trademark of the Graduate Management Admission Council®, and this site has neither been reviewed nor endorsed by GMAC®.