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Budgeting for Study in Australia
Australia is a beautiful land with a rich culture and diversity. It is counted among the most popular destinations in the world for hosting international students. Seven prestigious universities in Australia rank in the top 100 among other universities in the world. But, with being popular it is also an expensive place to live and study. If you are planning on to study in Australia, then get ready to deal with all the expenses. To enjoy your academic experience in Australia, managing finances is essential. It is one of the most challenging tasks.
As per the data collected by our experts we have come up with an approx figure of the total tuition cost. These figures may vary depending upon the course and university you opt for.
The tuition fee in Australia is usually calculated per unit basis and not per year. Fees differ for students studying in different courses. There are several band structures in the Australian fee system. Choosing different units from different bands will leave you with a difference in the course fee. With academic charges, some universities in Australia also charge Student services & Amenities fee. It can approximately come out to be AU$298 (~US$214) and even more. Students need to cross-check this with the universities they are opting for.
As a student applicant, you have to show a minimum amount of money in your account for living costs. The minimum is AU$20,290 (~US$14,600) per year and can vary. The other day to day expenses includes food, phone, electricity, gas, car, public transport, entertainment, fitness, etc. The minimum of these bills comes out to be AU$311 (~US$224) per week. We have compiled some amazing student budgeting tips which will help you pull through the expenses in Australia.
The foremost step is to prepare a budget plan. Here is how you can do that.
International Students are expected to show the full amount for their accommodation costs. Be clear with the expenses which are visible beforehand. If you get an assistantship, be sure to check what it will cover, and how much you will be paying from your pocket. In the case of fellowship or scholarship, it is important to be clear about the portion of taxes. Include taxes in your budget.
Once the series of planning your budget comes to an end, next is to hold and maintain your budgets. To actualize it, start implying the tips given below.
Living as a student in Australia has both its Pros and Cons. The essential thing for a student is to manage budgets. Following our budgeting tips for study in Australia will bring out a real difference. Now you know how to create a budget and then how you can wisely manage it. The cost of study in Australia is high, but with some budgeting techniques, you can rest assured. Pre-plan things. Choose your university wisely and be careful with the amount of money that you can invest in your study. Don't overdo as that might create issues in the future. Students can easily opt for part-time jobs in Australia. But if it is more than a part-time job, then your visa may get abolished.
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