World-class university education is inspiring and life-enriching. However, studying and living abroad is intimidating. Separate from tuition costs, the students need to prepare for accommodation, eating, travel expenditures, medical bills, and other expenditures. Here, we look at the estimated cost of living of international students and the actual cost of living overseas.
To understand the overall cost of living
The cost of living overall is incredibly varied with where you are, where you sleep, and how you live. Sydney, New York, and London are the most expensive, but Berlin or Toronto may have decent student life without being austere.
The student’s budget for monthly living expenses would generally fall under the following broad categories:
Accom :
- Food and groceries
- Transport
- Utilities and internet
- Health and insurance
Recreational and personal expenditures
These cost between $800 and $3,000 per month, with the variation depending on the city and the university.
Rank 2: Most Expensive World Universities to Study
Let us now look at an estimated cost of living at some of the highest-ranked institutions around the world.
H3: University of Oxford (UK)
Oxford is a traditional and renowned global university. An international student pays between £27,000 to £39,000 per year, but living expense is also the same.
- Bed space, meals: £650 to £1,000
- Miscellaneous and food month: £300 to £500
- Transportation: Essentially, no transportation is needed because of the walking campus.
Total estimated month: £1,000 – £1,500
The students would have to pay approximately £13,000 – £19,000 per year for living costs.
H3: United States – Harvard University
Harvard, being situated in the town of Cambridge, Massachusetts, is a high-cost place to reside since it’s near Boston.
- Accommodation: $1,200 – $1,800 per month
- Food and groceries: 400 to 600
- Transportation and other: $200 – $300
Total monthly spend: $1,800 – $2,700
Harvard estimates the expense to range between $24,000 to $32,000 yearly for living expenses only, not including tuition.
H3: University of Tokyo, Japan
It is cheaper to reside in Tokyo compared to most Western cities despite the fact that it is among the world’s great cities.
- Monthly rent: ¥40,000 – ¥80,000 ($300 – $600)
- Food and eating out: ¥30,000 – ¥50,000
- Transportation: ¥10,000
Total estimated month: ¥80,000 – ¥140,000 ($600 – $1
Typically, students should spend between $7,000 and $12,000 per year on living expenses.
H3: ETH Zurich (Switzerland)
High living standards and high cost of living are the hallmarks of Switzerland.
- Monthly Rent: CHF 700 – CHF 1,200
- Food and other costs: CHF 400 – CHF 600
- Transport and insurance: CHF 250 – CHF 350
Monthly total: CHF 1,400 – CHF 2,100
Estimated annual budget: CHF 18,000 – CHF 25,
H2: Principal Determinants of Student Cost of Living
London or New York would translate to higher rents, food, and transit. Student or small town would have cheaper ways of living.
H3: Campus vs. Off-Campus Life
It is cheaper to live in hostels on campus compared to renting an apartment in good areas but is not guaranteed. Where there is a shortage of housing, living on campus is competitive too. H3: Expenditures and Lifestyle These students, who eat at home, use public transportation, and cut back on luxuries or entertainment, can cut back only on a month-to-month basis. Closing Thoughts Attending university and life at the best university in the world is no small expense. Tuition, easily accounted for, is not so easily deducted from the expense of living, piling up with rapid speed and too easily dismissed by parents and students alike. Where the aspiration is to study at Tokyo, Harvard, Oxford, or Zurich, not only is the course of study to be undertaken but the rest of university life too. You can spare yourself future problems and complement your foreign studies, apart from being cost-effective, with mathematics at this level.