Study Abroad Budget Calculator

Tuition is roughly half the cost

Course fees are the visible number and typically account for only 50 to 60 percent of the total. Accommodation, food, local transport, health insurance, course materials, visa fees, flights and the initial setup costs of arriving in a new country make up the rest. Budgets built on tuition plus a rough living allowance are the ones that run short in the second year.

Proof of funds is a separate hurdle

Most student visas require evidence of funds covering tuition plus living costs for at least the first year, held in an accessible account for a minimum period, commonly 28 days, before applying. This is a liquidity requirement, not just a total. Money arriving the week before the application, or held in an account that does not meet the stated criteria, causes refusals even when the applicant genuinely has the funds.

Currency risk compounds over years

A multi-year course is a multi-year currency exposure. A 10 percent adverse move against your home currency raises the entire remaining cost by 10 percent, which on a three-year degree is substantial. Building a buffer for this is more realistic than assuming today's rate holds. Paying tuition in instalments spreads the exposure; paying a year ahead when the rate is favourable can lock in a saving.

Work rights are limited and should not be load-bearing

Most student visas permit part-time work, commonly around 20 hours weekly during term. At typical wage levels this offsets living costs partially rather than funding a degree. Budgets that depend on maximum permitted earnings tend to fail, because finding work takes time, hours are not guaranteed, and academic demands compete. Treat earnings as a buffer, not as income in the plan.

Costs at the end

Return flights, shipping belongings, deposit disputes and the gap between finishing study and starting paid work. Many students budget carefully to graduation and hit an unfunded period immediately afterwards, particularly where a post-study work visa takes weeks to process.