From then until now, hoards of international students have chosen to study in the US. It’s no surprise, as it has consistently maintained its reputation as a top global study destination. Just recently, various organisations, such as Quacquarelli Symonds (QS), U.S. News and Report and Times Higher Education (THE), have released university rankings, of which many US universities have been placed in the top ranks.
But is it affordable to become a US international student? In this article, we’ll go through the general cost to study in the US, as well as options international students can look into to ease their financial load.
US study abroad costs
Findings from HSBC’s 2018 global study The Value of Education indicate that “[o]n average, students say they spend USD99,417 over the course of their degree, covering a range of expenses including tuition fees, accommodation, bills and lifestyle costs”. Tuition fees alone range from USD5,000 to USD50,000 per year, with a typical four-year public college charging out-of-state students about USD26,290, according to College Board.
The truth is that the costs can vary greatly depending on the student’s chosen degree level, program of study, location (state and city) and general lifestyle. The more affordable option would be among US universities within the public sector who offer lower tuition fees, but even the cost for these public institutions differ per region.
The standard financial aspects a US international student would have to account for include:
- tuition and other fees: textbooks, class materials, clubs and extracurricular involvements, etc.
- accommodations and utilities: rent, electric and water bills, Wi-Fi, etc.
- living expenses: food, transportation, recreation, socialisation, etc.
US scholarships
Many achieve the dream of becoming a US international student through financial aid such as grants, loans and US scholarships. The most prestigious universities in the US offer the most generous—albeit highly competitive—funding opportunities. US scholarships are a great way for students to challenge themselves and set and align their goals clearly while securing the means to afford an American education.
The great news is that there are countless avenues for US international students to apply for scholarships. Check out our detailed list of the different ways students can gain US scholarships.
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