Cost of Studying in USA: Tuition, Living Expenses, and Financial Aid

So, you’ve received your admit letter. Or you’re planning to study in the USA. Either way, how much does studying in the USA cost?    

According to the Open doors report 2023, average annual cost of studying in the USA for international students ranges from $45,000 to $85,000, depending on the program, university, and location. For Indian students, this often becomes one of the biggest financial decisions they will make in their lifetime.

Let’s break it down.   

The Big Picture: What Does $45,000 to $85,000 Really Mean?

Most Indian students spend somewhere between $25,000 to $45,000 per year in the US. This figure includes everything – tuition, rent, food, transportation, and yes, that occasional chipotle bowl or weekend outing.   

But this range depends heavily on:  

• Where you live: Studying in New York City will cost way more than living in a smaller city like Austin, Texas, or Cleveland, Ohio.  

• Your course and university: Ivy League or private universities often charge higher tuition and fees than public state universities.  

• Your lifestyle: Are you sharing an apartment or living alone? Cooking meals at home or eating out often? These small decisions add up.  

Tuition: The Biggest Cost Of Studying In USA 

Tuition fees form the largest chunk of your education costs. Here’s a breakdown depending on your course and university type:  

Undergraduate (Bachelor’s Degree)  

• Public university: typically ranges from $20,000 to $30,000 per year  

• Private university: more expensive, around $35,000 to $55,000 per year  

Tip: public universities usually offer excellent quality education at a fraction of the price of private institutions. Don’t discount them just because they’re public!  

Master’s Degree (MS, MSc, etc.)  

• Public university: around $25,000 to $40,000 per year  

• Private university: between $40,000 to $60,000 per year  

STEM degrees (science, technology, engineering, and math) tend to be on the higher side but offer better job prospects in the US, especially with opportunities like OPT (optional practical training).  

MBA Programs  

• Top business schools (like Wharton, Kellogg, Harvard): $70,000 to $90,000 per year  

• Other reputable programs: $45,000 to $60,000 per year  

Mbas are costly worldwide, but US programs can offer strong returns on investment, especially if you get into a top-ranked school with good placement opportunities.  

Medicine (MBBS equivalent) 

• Around $40,000 to $80,000 per year  

• Total program length is much longer (5-7 years), so costs easily cross $300,000  

If you’re aiming for medicine, prepare financially and mentally for the long haul.  

Living Expenses: It’s Not Just Tuition 

The cost of studying in USA varies as per the city you live in. Where you live impacts your overall budget significantly. Here’s a rough monthly cost breakdown (in USD):  

City	Monthly Living Costs (USD)
New York City	$1,800 – $2,500
Los Angeles	$1,300 – $2,000
Austin / Houston	$900 – $1,500
Midwest Cities (e.g., Ohio)	$700 – $1,200

Tips to save:  

• Share an apartment or dorm room. This can cut your rent and utilities in half.  

• Cook at home. Dining out regularly can blow your budget quickly.  

• Use student discounts. Public transport, software, entertainment, and many places offer great deals for students.  

The Hidden Cost Of Studying in USA

Apart from tuition and living expenses, there are a few other fees that often surprise students and parents:  

Expense	Approximate Cost
SEVIS Fee	$350 (one-time payment)
Visa Application Fee	$160
Roundtrip Flight	$800 – $1,500
Books and Supplies	$500 – $1,000 per year
Health & Campus Fees	$1,000 – $2,000 per year

These fees are necessary and non-negotiable – so plan for them well in advance.  

Scholarships and part-time work: Reducing your burden  

Not everything is out of your pocket. Several options can help fund your US education:  

Scholarships worth applying for  

• Knight-Hennessy scholars (Stanford)  

• Harvard University need-based aid  

• NYU Wagner scholarships  

• Fulbright-Nehru fellowship  

• Inlaks scholarships  

These scholarships are highly competitive but can be life-changing if you get one. Start early and pay attention to deadlines.  

Assistantships (mostly for master’s and PhD students)  

• Research or teaching assistant roles can cover a portion of tuition fees.  

• They may provide a monthly stipend.  

• These roles offer valuable experience along with financial relief.  

Part-time jobs  

• International students can work up to 20 hours per week on campus during semesters.  

• Common jobs: library assistant, dining hall staff, lab assistant.  

• Typical pay ranges between $10 to $15 per hour.  

• Summer break allows full-time work, which helps save up.  

Budgeting like a pro: tips from Indian students who’ve been there  

Here are some money-saving hacks shared by seniors studying in the US:  

• Cook your own meals instead of eating out all the time.  

• Roommates are your best friends – rent and bills are cheaper.  

• Use student discounts for software (Microsoft office, Adobe), transportation, and entertainment.  

• Buy second-hand textbooks or use free pdfs available online.  

• Track expenses with apps – Edufund’s cost calculator or college board’s budget planner are great tools to plan realistically.  

Is Studying In The US Worth The Cost?

The answer is yes, if you plan well. 

Studying in the US is undeniably expensive, but the long-term benefits can be immense:  

• World-class education: access to top-ranked universities and research.  

• Work experience: OPT and CPT opportunities allow you to gain practical experience.  

• Global network: meet peers from across the world and build lifelong connections.  

• Better career prospects: US degrees are highly valued globally, often leading to higher salaries.  

Remember, education is an investment. Proper planning and financial support make this dream achievable.  

How EduFund Can Help You Plan Your US Education Finances  

Edufund will help you plan the cost of studying in USA.

• Compare education loan options from 15+ banks with competitive interest rates.  

• Find scholarships that you’re eligible for.  

• Budget your expenses realistically with easy-to-use tools.  

• Get expert assistance during your loan application and approval process.  

Additional costs: the ones you miss while planning 

When Indian students plan their US education budget, most stop at tuition and rent. But smaller expenses, when added up can quietly stretch your budget. 

Application costs 

Every university charges an application fee. You’ll be paying $60 to $120 per application. Most students apply to 6–10 colleges, so that’s easily ₹40,000–₹1,00,000 gone just in applications. 

Then there are standardized test fees for studying in USA 

• GRE: ~$220 

• TOEFL: ~$195 

• GMAT: ~$275 

• IELTS: ₹16,000+ 

Add coaching, mock tests, or rescheduling costs, and you’re looking at ₹30,000–₹75,000 before you even apply. 

Visa and immigration costs 

Once admitted, you’ll need to pay: 

• SEVIS fee: $350 

• Visa fee: $160 

• Document courier/postage: some universities still require hard copies 

• Travel for visa interviews (if not available in your city) 

These smaller expenses rarely get mentioned but they hit at once. 

Working part-time: how much can you actually earn? 

Many students rely on part-time jobs to manage their expenses. The good news: the US allows international students to work up to 20 hours per week during school and 40 hours during breaks, but only on campus during the first year. 

On-campus job examples: 

• Library assistant 

• Cafeteria worker 

• Campus tech support 

• Research/lab assistant 

Pay ranges between $10 to $15/hour. That’s about $600–$1,200/month, enough to cover groceries, phone bills, transport, and part of your rent (if you share). 

Real Student Stories: Budgeting Lessons From Seniors 

Aditya, NYU 

“Rent in Manhattan was killing me. I shifted to Brooklyn and shared with 2 more guys – saved almost $600/month.” 

Sneha, university of Texas at Austin 

“I worked part-time in the campus café. It wasn’t glamorous, but my earnings paid for food and books.” 

Rishi, Purdue 

“I bought all my textbooks second-hand and resold them later. Also used pdfs when allowed.” 

These small decisions can help you save $3,000 to $5,000 per year.  

Parents: Don’t forget these costs  

If you’re sending your child to the US, make sure to plan for:  

• Currency fluctuations: A two rupee change in USD can mean ₹50,000 more per semester.  

• Tech requirements: A good laptop can cost ₹80,000–₹1,20,000.  

• Travel for parents: visiting for convocation or emergencies incurs an additional ₹1–1.5 lakhs per trip.  

It’s not just tuition; think long-term.  

Smart ways to fund it  

Apart from scholarships and part-time jobs, here are practical funding options:  

1. Education loans (domestic + international)  

Options from Indian banks, such as SBI and Axis, as well as international ones like Prodigy Finance. Look for:  

• Lower interest rates  

• Moratorium periods  

• Collateral/non-collateral options  

2. Parent-led investments  

If you’re planning in advance, even starting sips of ₹5,000/month from your child’s 10th grade can create a strong base by the time they apply.  

Apply with EduFund  

You can compare education loans, check real-time ROI, track fees by university, and plan for 4 years, not just the first semester.  

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