The cost of education is the first aspect that comes to your mind when you think about studying in the USA. Before we get into details of the cost of education in the US, remember that education is an investment of a lifetime. After completing their study in the US, many students have not only been able to clear their debts, but have also earned a fortune.
The university fee is a string of five-digit numbers which can be rather daunting. According to reports, the average cost of studying at a four-year programme in a private university of the US is up to US$28,500 per year.
This is just an average cost, but some of the top universities cost more than $40,000 for undergraduate programmes. Additional budget also includes accommodation, food, books and resources and other expenses, which may make a total of around $60,000.
Public versus private universities
Some universities in the US cost lesser than the average of $28,000 per year. This average fees is in reference to the private universities which are more expensive than the public universities.
The average fee for a 4-year programme at a public college is $20,770 per year. About 40% of the students enrol for a full-time four-year at a college with fees less than $10,000 per year.
The cheaper options are the public institutes with a two-year programme, these are known as community, city or technical colleges.
Grants and Scholarships
Studying in the US can cost you anywhere between $600 - $55,000 per year. There are various grants and scholarships, opting for these would allow you to pay a lot less than the initial price.
The universities are now providing more information about student loans, debts and future repayments, allowing the students to get a rough idea of how much financial aid they would receive. [You might want to know more about Financial aid for students in the USA]
Most of the prestigious private universities tend to have more money available for grants. But the charges are based on yearly assessment of each student's finances.
Every student is eligible for aid, where the applicant is assessed based on academic ability, without considering his/her financial means.
Different amounts are charged for different courses
The costs for each programme is different as the universities follow differential fee policies. This means, different amounts are charged for different courses.
The fee may be based on factors like demand for the course, its actual costs and the salary level what students can expect after graduation.
Through all these concerns, education in US has retained its equilibrium between quality and access, making it as a leader in higher education, as it continues to attract and welcome students from all backgrounds worldwide.
Cost of education in the US can be divided into the following categories:
|Education Cost in USA|
|Cost of Application|
|Application fees||$50 to $150 per University|
|Courier Charges||Rs1200 to Rs1500 per University - to send in hard copies of authenticated documents|
|Academic Test||$100 to $200 per examination|
|Score reporting||Up to $ 20 per university - Entrance test scores have to be reported by testing agencies like ETS|
|Private Institution||$15,000 to $30,000 per year|
|Public Institution||$10,000 to $20,000 per year|
|Community College||$8,000 to $12,000 per year|
|Estimated Living Cost||$10,000 to $12,000 per year|
|Books and study materials||$500 to $1,000 approximately per academic year|
|Accommodation on Campus||Between $3,000 and $7,500 approximately per year|
|Accommodation off Campus||$300 to $600 a month. Food should cost about $2,500 a year|
|Clothing||$500 or more annually|
|Personal expenses||$2,000 approximately per year|
|Air tickets||$500 to $2,000|
|Health / Medical Insurance||$300 to $500 per year per person|
Use the Currency Converter to have a clarity on the fee structure.
Please note: The cost mentioned in the chart are approximate and are not actual.