Minimum amount required to go abroad?

Question

snigdha mathur · Accepted Answer

The minimum amount required to study in the USA can vary widely depending on the university, location, and lifestyle choices. On average, you should budget for the following expenses:

Tuition Fees: $20,000 to $50,000 per year for undergraduate programs and $20,000 to $60,000 per year for graduate programs.
Living Expenses: $10,000 to $20,000 annually, including accommodation, food, transportation, and other personal expenses.
Health Insurance: $1,000 to $2,000 per year.
Books and Supplies: $500 to $1,000 per year.
Miscellaneous Expenses: $2,000 to $3,000 per year for personal and leisure activities.

Overall, you should plan for $35,000 to $80,000 per year to cover all costs associated with studying in the USA.
However, finances shouldn't worry you since you can easily get a study-abroad education loan. There are many lenders and loan options with varying interest rates to choose from. I suggest getting in touch with an expert or consultant to explore the best loan options for your needs.

Akanksha Chandravanshi · Answer

Hi Manav,
Minimum Amount Required to Study in the USA from India
Key Costs:
Tuition & Fees:
Varies significantly based on the university and program.Public universities are generally cheaper than private ones.Expect anywhere from $10,000 to $50,000+ per year.Living Expenses:
Housing: $500 - $1,500+ per month (depending on location and housing type).Food: $300 - $500 per month (can vary based on eating habits and location).Transportation: $50 - $200 per month (public transport vs. car ownership).Books & Supplies: $500 - $1,000 per year.Personal Expenses: $200 - $500 per month (entertainment, clothing, etc.).Health Insurance: $1,000 - $3,000 per year (mandatory for most international students).One-Time Costs:
Visa Application Fee: $160 (subject to change)SEVIS Fee: $350 (subject to change)Flight Tickets: ₹50,000 - ₹1,50,000 (round trip, varies based on season and airline)Total Estimated Minimum:
Undergraduate: $25,000 - $60,000+ per year (excluding one-time costs)Graduate: $30,000 - $70,000+ per year (excluding one-time costs)