Informasi Umum

How Much Does Studying Abroad Cost? Here's an Estimate

Admin BFI
4 October 2024
1781
How Much Does Studying Abroad Cost? Here's an Estimate

Pursuing higher education abroad is a dream for many students, and one key consideration in achieving this goal is the cost of education. The cost of studying abroad varies depending on factors such as the country, type of university, and chosen program of study.

Therefore, it is important to understand the various aspects before deciding to study abroad. From strong reasons to country choices, everything is discussed here, including recommendations and necessary costs.

 

 

1. Reasons for Studying Abroad

For many students, especially from Indonesia, studying abroad is a major aspiration. But why? Here are the full reasons.

 

1.1 Better Education Quality

Many universities abroad, especially in developed countries like the United States, the United Kingdom, and Germany, have globally recognized reputations in academics and research. They frequently rank among the top in various global surveys, making their education quality undeniable.

 

1.2 Valuable Life Experiences

Studying abroad not only enriches academic knowledge but also helps shape character and important life and career skills. Understanding different cultures, communicating in a foreign language, and enjoying the beauty of the destination country are some unforgettable experiences that come with studying abroad. These experiences help students grow as individuals and better prepare them for challenges in an increasingly complex world.

 

1.3 Taking Advantage of Scholarships

Leveraging study abroad scholarships is an effective way to receive quality education without significant financial burden. Additionally, scholarships offer numerous extra benefits that enrich students' academic and personal lives, making them a smart investment for a brighter future.

 

1.4 Better Career Opportunities

International education not only enhances academic qualifications but also equips students with the skills, networks, and understanding needed to succeed in a competitive global job market. Many study programs at overseas universities offer real-world case studies and internships, which is why many decide to study abroad.

 

1.5 Expanding New Insights

Studying abroad doesn’t just enrich academic knowledge, it also broadens students' worldviews. With wider insights, students are better prepared to face global challenges and contribute positively to society.

 

Also Read: How to Properly Prepare Children's Education Funds

 

2. Recommended Countries for Studying Abroad

cost of studying abroad

Here are some of the best countries to study abroad, along with estimated tuition fees you should consider before making your decision.

 

2.1 Australia

Australia is a top destination for Indonesian students. Known for its quality education, Australia hosts at least 20 of the world’s top universities, such as the University of Melbourne, Australian National University (ANU), and the University of Sydney. Tuition fees range from AUD 20,000 to AUD 45,000 per year for undergraduate programs, and AUD 22,000 to AUD 50,000 for master's and PhD programs.

 

2.2 Japan

Japan is increasingly popular among international students, including Indonesians. With high education standards, advanced technology, and rich culture, Japan offers tuition fees averaging ¥535,800 (around USD 4,800) per year, plus registration fees of ¥282,000 (around USD 2,500).

 

2.3 South Korea

Known for its technological advancements, South Korea's tuition fees vary, but typically range from USD 4,000 to USD 8,000 for undergraduate programs, and USD 5,000 to USD 10,000 for master's and PhD programs. International students can work part-time to help cover living expenses.

 

2.4 Malaysia

Malaysia offers high-quality education at a more affordable cost, with tuition fees ranging from USD 2,000 to USD 15,000 per year. Visa processes for students are simple and efficient.

 

2.5 Singapore

Close to Indonesia, Singapore offers world-class education, with tuition fees ranging from SGD 20,000 to SGD 50,000 per year. Singaporean universities like NUS, NTU, and SMU are globally recognized.

 

2.6 China

China offers various scholarships for international students, and tuition fees typically range from USD 2,000 to USD 10,000 per year. The Chinese Government Scholarship covers tuition, accommodation, and living allowances.

 

2.7 United States

Home to top universities like Harvard, Stanford, and MIT, tuition fees in the US can range widely depending on the university and program. The Optional Practical Training (OPT) program allows international students to work in the US after graduation.

 

Also Read: This is the Estimate of Pilot School Costs in Indonesia, Interested?

 

2.8 Canada

Canada is known for its welcoming attitude toward international students. Tuition fees range from CAD 20,000 to CAD 40,000 per year, while living expenses vary from CAD 10,000 to CAD 15,000 annually.

 

2.10 United Kingdom

With historic universities like Oxford, Cambridge, and Edinburgh, tuition fees in the UK can range from £10,000 to £38,000 per year, depending on the program and university. After graduation, students can apply for the Graduate Route, allowing them to stay and work for up to two years.

 

2.11 Germany

Germany offers some of the most affordable tuition fees, with many undergraduate and master's programs being free of charge. Some states charge non-EU students around EUR 1,500 per semester, while private universities may cost EUR 20,000 per year.

 

2.12 Netherlands

Tuition fees in the Netherlands range from EUR 6,000 to EUR 20,000 per year for undergraduate programs and EUR 8,000 to EUR 30,000 for master's programs. Living expenses vary between EUR 800 to EUR 1,200 per month.

 

2.13 France

Public universities in France have low tuition fees, with EUR 170 per year for undergraduate programs and EUR 243 per year for master's programs. International students can work up to 964 hours per year.

 

2.14 Switzerland

Swiss universities, like ETH Zurich, offer world-class education with tuition fees ranging from CHF 500 to CHF 4,000 per year. Switzerland also offers a beautiful natural environment for students to explore.

 

2.15 Russia

Tuition fees in Russia are relatively affordable, ranging from USD 1,500 to USD 11,000 per year. Living expenses average around USD 300 to USD 600 per month.

2.16 Italy

Italy, known for its rich culture and history, offers tuition fees ranging from EUR 900 to EUR 4,000 per year at public universities. Private universities charge between EUR 6,000 and EUR 20,000 per year.

 

Also Read: Tips for Applying for Children's Education Fund Loans

 

By considering the various factors affecting the cost of studying abroad, students can make informed decisions and plan carefully for their education. While the costs may be high, the investment often pays off through better career opportunities, valuable life experiences, and a global perspective.

 

 

With the often substantial costs involved, pursuing an education abroad can sometimes be a challenge. However, there's no need to worry—BFI Finance offers education financing solutions to help you achieve your dream of studying abroad by using collateral as a guarantee. The collateral that can be used includes vehicle ownership documents (motorcycles and cars) and property certificates.

BFI Finance offers high loan disbursement, up to 95% of the collateral's value. The application approval process is fast and secure, as BFI Finance is officially regulated by the Financial Services Authority (OJK). You can also enjoy competitive interest rates and affordable installment plans throughout the financing period. Don't let financial obstacles stop you from reaching your dreams. Apply for education financing now with BFI Finance! #SelaluAdaJalan with BFI Finance.

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