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What is the cost of studying MBA in India?

What is the cost of studying MBA in India?

Do you know the cost of studying MBA in India? Why it is the most popular post-graduate degree in the country? What makes it one of the toughest and most expensive degrees in our country? Let’s find out!  The cost of an MBA program in India is between INR 20,000 and INR 40 lakh for two years of full-time study. MBA programs given by universities and government colleges have affordable tuition, however, those same programs at private institutions are more expensive.  Infrastructure, dormitory accommodations, extracurricular activities, and pedagogy are just a few of the variables that affect MBA college costs in India. For instance, if an MBA college provides a program that requires candidates to spend a semester or other amount of time studying abroad, the course fee for that institute will be high. On the other side, if the government is funding the MBA institute, the costs will be minimal.  Yes, financial aid provided by the state or the federal government to run their academic program is a big factor in the low MBA fees of government institutions and universities.  MBA applicants who intend to enroll in an MBA program for the following academic year must start looking for the best MBA colleges now. MBA tuition costs will play a significant role in guiding your search and conclusion.  It is hard to discuss MBA colleges in India without mentioning the Indian Institute of Management (IIM), one of the country's top MBA institutions.   The cost of an MBA at an IIM can range from INR 11 lakh to INR 23 lakh. There are 20 IIM campuses in India. While IIM Sirmaur's PGP program costs INR 11 lakh, IIM Ahmedabad's MBA program costs INR 23 lakh.  Other than IIMs, top B-Schools' MBA tuition  In addition to the IIMs, top B-Schools include FMS Delhi, XLRI Jamshedpur, MDI Gurgaon, SPJIMR Mumbai, and IIFT Delhi. These institutions provide the best in terms of facilities, professors, instruction, exposure to other countries, and job placements.  The MBA tuition at these business institutions ranges from 11 to 35 lakh rupees. FMS-Delhi is the lone exception, with an annual cost of INR 20, 960. Look at the MBA tuition costs for some of the best business schools outside of IIMs in India.  FMS-Delhi - INR 20,960  XLRI Jamshedpur-Xavier School of Management - INR 23.60 lakh  MDI-Gurgaon - INR 19.80 lakh  Symbiosis Institute of Business Management-Pune - INR 17.06 lakh  NMIMS Mumbai-School of Business Management - INR 19.76 lakh etc. MBA tuition less INR 10 lakh  Most of the MBA schools in this price range are IIT management study programs. In addition to being more affordable than those offered by private B-Schools, these institutions' MBA programs are also highly placed in the MHRD-NIRF yearly ranking and provide great placement possibilities. Look at these schools offering MBAs for less than INR 10 lakh:  IIT Delhi - Department of Management Studies - INR 8.80 lakh  IIT Bombay - Shailesh J. Mehta School of Management -INR 8.32 lakh  IIT Kharagpur-Vinod Gupta School of Management - INR 6.19 lakh, etc.   MBA tuition less INR 5 lakh  Popular institutions like Symbiosis International University (Deemed), and Prin. L N Welingkar, Christ University, Chandigarh University, and Amity University are among the MBA colleges in this price range. These universities provide a variety of MBA programs for reasonable tuition costs. Look at these schools offering MBAs for less than INR 5 lakh:  Prin. L. N. Welingkar Institute of Management Development & Research-Mumbai - INR 3.00 lakh  Christ University, Bangalore - INR 3.10 lakh  International School of Management and Research-ISMR - INR 3.00 lakh etc.   MBA tuition of fewer than Rs. 1 lakh  The majority of MBA programs in state or central university departments with fees under INR 1 lakh are management studies departments. These institutions are accepted by the University Grants Commission despite their affordable tuition (UGC). Look at a few of the well-known MBA schools with costs under INR 1 lakh.  Jamia Millia Islamia-JMI - INR 33,170  Amity University - INR 54,000  Institute of Management Studies, Banaras Hindu University - INR 98,888, etc.   Want to explore the future cost of studying MBA around the world? Check out the college cost calculator and find out the real costs of studying!  Consult an expert advisor to get the right plan TALK TO AN EXPERT
How much does it cost to study law in the USA?

How much does it cost to study law in the USA?

Planning to study law in the USA? But don’t know about the cost of doing it there. Don’t worry we have you covered! Law is amongst the most pursued courses in the USA and is extremely competitive in nature.  Thurgood Marshall, Gloria Allred, Barack Obama, Mahatma Gandhi, and Ruth Bader Ginsburg each of well-known attorneys made different decisions, but they were all driven by a passion for the rule of law and carrying out what was right. Those who choose to go to law school may well have diverse reasons for doing so, but they all seem to have the drive and morals it takes to become successful lawyers.  If you're thinking about going to law school, you probably already know how expensive it is. But it's a path that offers a lot of chances outside of the courtroom. Because of this, you should think about all the expenses related to attending law school before making a decision so that you are ready and knowledgeable. Requirements for law school  A four-year bachelor's degree is typically required for law school programs. Although there is no set major, many students choose to study topics like English, politics, history, philosophy, or economics. The American Bar Association (ABA) recommends that students prepare for legal education by enrolling in "a broad range of challenging courses from demanding professors."  Pre-law advising is another service provided by some undergraduate programs, and it can give you a better picture of what a legal career might entail. The advisor will also support your admission to law school and assist you in selecting the right undergraduate courses. The Law School Admission Test (LSAT), which assesses reading comprehension, analytical reasoning, and logical reasoning, must be taken in order to apply.  You will start a three-year program to earn a Juris Doctor (J.D.) degree after being admitted (although some schools offer a four-year part-time program). Students take torts, contracts, constitutional law, civil process, property, and a legal writing course during their first year of law school. While second and third-year courses vary by institution, they often call for writing credits, electives in experiential learning, courses on professional responsibility, and more. These allow you the chance to investigate specialized fields and learn what you are most interested in, such as tax, labor, or corporate law. For a wide range of topics, Cornell Law School advises second-year students to take courses in administrative law, corporate organizations, evidence, and federal income taxation. Students will enroll in elective courses, such as seminars and problem courses, in their chosen specialty during their third year of law school.  Students must pass a license "bar" exam for the state in which they desire to practice law in order to become practicing attorneys. Most states require that applicants complete an ABA-accredited law school, pass one or more written bar tests, and be determined by an admissions body to have the character to represent and advise others, according to the BLS. Lawyers must continue their studies at least annually even after being admitted to the bar.  Tuition for Public and Private Law Schools This is a summary of the usual expenses by that kind of organization:  AVERAGE PRIVATE SCHOOL TUITION & FEE: $51,268 (INR 41585388.91)  AVERAGE FEES FOR PUBLIC SCHOOLS  Resident (In-State) (In-State)  Tuition & Fees: $29,074(INR 2404729.44)   Non-Resident (Out-of-State) (Out-of-State)  $42,143 (INR 34,85,674.92) Education Costs  According to U.S. News, the overall average yearly cost of an out-of-state public law school is $42,143(INR 34,85,674), while the cost of a private school is significantly higher at $51,268 (INR 41,58,538)  The cheapest option would be to pay an average of $29,074(INR 24,04,729) per year to attend a public, in-state law school. Even in-state public education, which is the least expensive choice, costs $87,222(INR 72,14,188.31) for three years.  How much does law school costs? A law student should budget anywhere from $87,222 (INR 72,14,188.31) for an in-state public school to $153,804 for a private school over three years. These figures can be debilitating, particularly if one transfers directly from undergrad to law school. However, the BLS reports that as of 2020, the median annual compensation for lawyers is $126,930 (INR 10498462), with the top 10 percent earning more than $208,000 (INR 17,203815). There are numerous ways to finance a legal degree. Your mind and wallet can rest easier knowing that there are specialized loans, grants, scholarships, and cheap programs available. Knowing how much law school will cost you is simply the first step on a long career path. Use the appropriate resources and accessible research to make informed decisions and position yourself for the future you deserve.  Wondering how to calculate the future cost of studying in the USA? Chat with our expert advisors. Consult an expert advisor to get the right plan TALK TO AN EXPERT FAQ How much does it cost to study law in the USA for international students?  It's also available as a remote learning program through some US universities. To apply for an LLM in the USA, international students must hold a 3-year bachelor's degree in law. The typical tuition for American universities that provide a master's degree in law ranges from 12,000 USD (INR 99,2527.80) to 70,000 USD (INR 57,89,745.50). Is law school expensive in the US?  On average, law academy education costs$84,558(INR 69,93,847.14) at public universities for in-state scholars, and $147,936 (INR 12,235882.72) for scholars that attend private universities. Keep in mind that those costs are only for education; living charges like rent, food, and transportation can fluently add at least $20,000(INR 16,54,213.00) per time to your total cost.  How many years does it take to study law in America?  3 years 
How much does it cost to study MBA in Australia?

How much does it cost to study MBA in Australia?

Ever wondered what’s it like to study MBA in Australia? How much does it cost to study MBA in Australia? What is the ROI of the course? How much would it cost to study MBA in Australia in 10 years? Let’s find out!  In comparison to other programs offered by universities around the world, the MBA program has witnessed the largest enrollment. International students who are interested in pursuing an MBA are aware that top education is only offered abroad. With so many nations providing a variety of MBA programs. Australia has consistently been at the top of the list.  The MBA program in Australia has been created to satisfy current market demands. As a result, you should also be fully informed of the financial situation if you're thinking about pursuing an MBA education in Australia. This article includes everything you need to know about the cost to study MBA in Australia in order to assist you to understand the academic investment. Leading elements that influence MBA tuition in Australia  There are several categories of MBA fees in Australia for international students. While tuition fees are frequently mentioned, there are other important expenses that also go toward the former. These expenses should also be taken into account when determining your financial requirements.   Here are the most important ones:  The cost of an MBA in Australia  Included within MBA cost in Australia are living expenses  Other important fees for MBA programs in Australia  Cost of an MBA in Australia before and after arrival  Covered MBA cost in Australia  Living expenses are an additional cost of attending an MBA program in Australia after MBA tuition for overseas students in Australia. Students will also need to pay for the living expenses associated with remaining in Australia while they are there for their studies. Depending on the lifestyle choices a student makes, these expenditures may change. For their stay in Australia, international students will need 20,000 AUD each year. Why you should do an MBA in Australia?  A good MBA degree is considered a gateway to success. It isn't only salutary for one's career progression but also enhances chops that one requires to stay ahead in the assiduity and also helps in networking. There are multitudinous reasons why one should pursue an MBA and acquire the chops and knowledge needed to give perpendicular growth to one's career. MBA course teaches scholars how to successfully manage a business and how to acclimatize to the rearmost global trends. Through this program scholars also learn how to run a business in an uncertain terrain and revive it in times of extremity.  MBA in Australia is a recognized degree encyclopedically because the AQF issues relative qualifications for office use. Australian Universities may or may not accept GMAT scores for MBA admissions.  Transnational scholars studying MBA in Australia can work for 40 hours while studying.   Check Part-time work options for transnational scholars in Australia  Australia opens further than, 500 job vacancies for MBA degree holders in Australia annually.  MBA entrance requirements  International applicants must have at least a 60% undergraduate average, at least two years of work experience, and English language competence scores in order to be admitted to an MBA program in Australia. For more details, the following part is separated as follows:  MBA course length  The MBA program lasts two years in the majority of universities. Most Australian universities require between 15 months and two years to get an MBA. In addition to this, many colleges have begun to offer one-year MBA programs A one-year MBA program that Melbourne Business School has launched is very well-liked by prospective students.  Want to study in Australia and pursue an MBA then find out how to save and how much to save right here!  Consult an expert advisor to get the right plan TALK TO AN EXPERT
Bachelor's degree in India

Bachelor's degree in India

Is your child about to finish 12th this year? The question that which is the best bachelor's degree in India may have crossed your mind a dozen times.   India’s educational landscape has involved the years with thousands of esteemed universities and colleges for your kid to choose from. Let’s look at some of the best bachelor's degrees in India that your child should consider!    Based on the field of study, bachelor's degrees can take three to five years to complete in India. For instance, bachelor's degrees in the arts, business, communications, and sciences normally take three years to finish, whereas those in engineering, pharmaceutical science, and technology take four years to complete, and those in architecture, medicine, or surgery take five years.   Different programs, institutions, and applicants will have different tuition costs. Depending on financial needs or academic accomplishments, scholarships may be offered to help with costs. If you believe that enrolling in a bachelor's program in India could be the next step in realizing your kid’s career objectives, continue reading to learn more about the fantastic bachelor's options offered by Indian colleges and other educational institutions Popular bachelor's degrees in India 1. MBA/BBA Management in an organization or corporation is a term used to describe a person who plans and organizes the work of personnel. So, unless you are the type of individual who enjoys or believes that they can properly plan, organize, choose staff, lead or direct, and control an organization to achieve different objectives, management classes can give you guidance to achieve various objectives by making efficient and effective use of human and financial resources.   The top colleges for studying BBA are   Loyola College   Delhi University   University of Mumbai  Christ University  Amity University  2. Engineering Engineering is the use of mathematics, empirical data, and scientific, economic, social, and practical knowledge to design, develop, maintain, research, and enhance organizations, machines, tools, systems, components, materials, processes, and systems. Many scientific students choose it as one of their top programs after completing their 12th-grade education since it leads to the highest-paying job in the world.  The best college for studying engineering in India are:   IITs  NITs  VIT Vellore  Jadavpur University  Anna University   3. Computer Application Computers are becoming an essential component of education as well as the young (student) generation's lifeblood. Computer systems are getting more and more accessible, and the information technology sector is increasing and rising along with it. The term "system software" refers to computer software that is created to carry out a number of synchronized tasks and operations for the consumer. In order to understand how to use the technology, computer application students mostly study those software packages.  The best college for studying computer applications are:   NITs  Birla Institute of Technology   Christ University  Jawaharlal Nehru University   Delhi University 4. Hotel Management  Always questioned how similar opulent hospices, resorts, and elegant outfits operate and coordinate similar massive structures without a hitch. hostel operation is the operation of the hospitality assiduity's service division with an emphasis on meeting the conditions of its guests. The hostel's general director is the top superintendent in charge of running that hostel or a connected business. Being the director of a voyaging boat would also give you the chance to sail.  The best colleges for studying hotel management are:   Institute of Hotel Management, Lucknow  Heritage Institute of Hotel and Tourism   KR Mangalam University  Amity University  5. Fine Arts Fine Trades Fine art is distinguished from applied art by being created purely for aesthetics or beauty rather than having to have some practical purpose. Fine art generally consists of imaginative graphic displays that are valued for their aesthetic, intellectual, or imaginative rates. Fine trades include effects like oil, form, armature, music, poetry, photography, film, videotape products, theatre, and cotillion. This field is for you if one or further of these formats allows you to express your feelings more effectively or inspires or fascinates you.   Here are the best colleges for studying fine arts in India:   Jamia Millia Islamia  Sir J J Institute of Applied Arts  Government College of Fine Arts  Aligarh Muslim University  College of Art, Delhi  6. Nursing Nursing, which is described as the profession of minding for cases, families, and societies so that they can heal from illness, is further than just a job. The foundation of the health sector, nurses are essential to the smooth operation of the entire assiduity. The need for healthcare is global, so the range of nursing is veritably broad. As a nurse, you will have the capability to help individuals in a variety of ways, from minding for new maters to offering advice to cases who are meaning self-murder. One of the stylish nursing seminaries in India is RAK College of Nursing in Delhi and CMC Vellore College of Nursing. In recent times, India has come the country that exports the most largely good nurses.  Here are some of the best colleges for nursing:   AIIMS, Delhi  Armed Forces Medical College  King George's Medical University  Madras Medical College  Dayanand Medical College & Hospital With the cost of education increasing every year by 5-6% across the globe, the need to start planning your child’s higher education is unavoidable!   Universities and the education world are no strangers to inflation. In fact, the educational sector has witnessed an unprecedented increase in tuition fees and living expenses. To ensure your child’s dreams are not crushed under the weight of inflation, you need to start planning and saving for their future right here!   Consult an expert advisor to get the right plan TALK TO AN EXPERT
Ways to save for your child's MS in the US?

Ways to save for your child's MS in the US?

Trying to figure out the average cost of sending your child for MS to the US? The cost of studying MS in the US comes to a total of about ₹76 lakhs - 1.1 crores. The total cost of completing an MS in the United States is constituted of both tuition fees and living expenses. Overview of costs of studying MS in the US The cost of an MS in the United States for Indian students throughout the program, including expenses made in India and the United States, is detailed below: Factors/ParameterAmount (in INR)GRE₹17,000TOEFL₹15,000Applications₹70,000 - 1,20,000Other Expenses During Applications₹10,000 - 15,000VISA Fee₹13,100SEVIS Fee₹17,600Airfares (one-way)₹90,000 - 1,20,000Tuition Fee₹65,00,000 - 90,00,000Living Expenses₹9,00,000 - ₹20,00,000Total₹76 lakhs - 1.1 crores These figures were calculated using a variety of assumptions, and individual costs may change. We have just summarised a few significant costs to estimate the average cost of studying abroad, focusing on the price of an MS in the US. How to save for your child’s MS in the US Here are several financial planning techniques that parents can employ to lessen the stress and increase the productivity of their child's MS in the US. By following these guidelines, you can help your child achieve their goals while also safeguarding your long-term financial stability. 1. Think about long-term financial planning before you start An early start to planning is crucial. Plans for your child's international education should be started as soon as possible. As a parent, you may need to make some sacrifices right now, so start analyzing your spending habits and cutting back on unnecessary expenses. Regularly set aside funds for your child's education. Additionally, consider other saving and investment choices. You must account for the greater cost of living in the US and incorporate this element into your plan from the start. 2. Keep exchange rates and inflation in mind For many years, the US dollar has consistently ranked among the strongest currencies in the world, with nearly all other currencies gradually depreciating in comparison to it. You should expect that your currency will also experience this in the future. No matter when you plan to send your child to the US for education, you must factor in inflation in your country and potential currency depreciation in your budget. By taking inflation and exchange rates into account, the EduFund College Cost Calculator may assist you in determining the average total cost you will need to send your child to the US for MS. Longer periods provide you more freedom to invest in risky assets like stock, which might help you in the long term to fight off the effects of inflation and fluctuation in exchange rates. 3. Find the most suited investment options Even though your child's journey to the US won't happen for several years, you might not be able to meet all of your child's future expenses by merely setting up an education fund with your current regular pay. Future living expenses will undoubtedly rise from current levels. If you want to decrease the impact of these possibly higher costs, you need to start looking for additional sources of funding straight away that are separate from your (and your partner's) salary income. As a result, you ought to research potential medium and long-term investment options that you may start pursuing right away. Recognize your ability for risk-taking and adjust your investments accordingly. In your hunt for mutual fund-based Systematic Investment Plans (SIP), academic investments, or savings plans particularly created for your child's MS in the US, EduFund’s financial experts can help. 4. Consult a specialist before investing or studying abroad The process of getting ready for education abroad is scary to the majority of people. Even if you start early, create a budget and a costing plan, and research the various investment options, you could still feel entirely unprepared despite having an action plan and strategy in place. If you're having trouble, talking to a professional can be a smart idea. With the help of our investment advisors and study abroad specialists, you may examine your options and develop a more detailed and useful approach. You might even come across fresh options that you weren't aware of or hadn't thought of before. Conclusion The practical costs of sending your child to the US for a master's degree in science can be confusing, but with systematic planning and a realistic outlook, you and your child can both gain over time from pursuing this desired goal. EduFund’s financial experts are constantly available for any assistance or advice you need. Consult an expert advisor to get the right plan TALK TO AN EXPERT
What is the cost of sending your child to Singapore?

What is the cost of sending your child to Singapore?

Studying abroad is an experience that can improve language abilities and advance job possibilities. According to a recent HSBC study, parents all over the world appear to agree with this idea.  If you’re one of those parents then this page is for you. The article below will discuss the costs of sending your child to Singapore and how to manage their expenses. How much does studying in Singapore cost? Singapore is well-known for its excellent education and upholds high levels of education and learning. Studying in Singapore is generally less expensive than in other popular overseas study destinations. Let’s discuss the various costs of higher education in detail. Cost of school education in Singapore The price of education is determined by the kind of school or university your child is enrolled in. Also, it tends to depend on when you intend to send your child to school or university. When you send children to the pre-nursery classroom (18 months of age to two years), the monthly fee can range from as low as $256.80 for a half-day program to as heavy as $1,978.60 for a half-day program at some elite institutions.  Regarding your child's primary or secondary school education, there are approximately 70 international schools to choose from. Annual fees can range from $10,000 to $15,000, with a maximum of $40,000. You may also choose to enroll your child in one of Singapore's public schools. The annual fee for foreigners ranges from $8,000 to $15,000, roughly half the cost of such an international school. College tuition fees in Singapore vary based on the university and course your child attends, as well as your nationality. Tuition fees in Singaporean schools may be higher than that in neighboring countries. Let’s discuss the cost of higher education in Singapore.  Cost of college education in Singapore  A public university typically costs between SGD$ 8,000 and SGD$ 9,000/ year. However, this is the concessionary price. Non-subsidized and non-Singaporean students pay around SGD 10,000 or more. The government also subsidizes some programs in Singaporean schools, regardless of nationality. The government of Singapore provides a substantial tuition subsidy in the form of a MOE Subsidy. It is available to any eligible students. There are broadly two types of universities in Singapore: public and international university campuses. The government primarily supports public universities. As a result, they might provide identified students admittance at a lowered tuition fee. Certain universities charge international students more than local Singaporeans. Singapore's international and foreign universities and colleges are typically costlier than public university campuses. Best Singapore Universities Read More What is the cost of tuition fees at public universities in Singapore? We are comparing the tuition fees for one year for accounting and finance programs at six public-funded universities. For 2019, all tuition fees are in Singapore dollars and include local tax. Singapore's Ministry of Education (MOE) provides tuition subsidies (Tuition Grants) to international students attending local public colleges. Under this scheme, international students will be expected to find employment in Singapore-registered major corporations for a minimum of three years after graduation. As a result, overseas students (non-MOE subsidies) must pay an average of SGD$33,000 *3 = SGD$99,000 to finish an accountancy Bachelor's degree at a public university in Singapore. Other degree programs may take longer than 4 years and may cost more. Top 6 Scholarships in Singapore Read More What is the cost of tuition fees at international and foreign universities in Singapore? The table shown below provides a more detailed breakdown of tuition fees for a few institutions that offer accounting and finance-related programs: All tuition fees are the full course program fees in Singapore dollars for 2019, inclusive of local tax. As seen above, the international student tuition fees to complete a Bachelor's degree at a foreign and overseas university in Singapore range from SGD$ 51,840 to SGD$ 115,350, based on the type of course. Tuition for a master's degree ranges between SGD$ 46,080 and SGD$ 133,884. The cost of studying in Singapore varies according to the level of education. The cost of living varies according to individual living standards, but the average monthly fee for a student could range from SGD$ 1,000 to $3,000. Numerous private institutions are also very popular. Among the top names is INSEAD, a global management school with a campus in Singapore that allures international students from all over the world. Indeed, in the last decade, the country's growing education sector and geographic advantage have persuaded many foreign universities to establish campuses there. Among the well-known institutions are the Chicago Business School and the Technische Universität München, Asia. Conclusion Singapore provides quality education at a reasonable price, resulting in greater value for money. The universities are internationally recognized, have collaborations, and are founded on innovative pedagogy. Parents wishing to send their children abroad must start financial planning early on to support their children in the best. FAQs How much does it cost to send a child to school in Singapore? The cost of school education varies based on the type of school and the grade level. It can range from around $256.80 to $1,978.60 per month for pre-nursery, and annual fees for international schools range from $10,000 to $40,000. What are the tuition fees for college education in Singapore? Tuition fees for public universities typically range from SGD$8,000 to SGD$9,000 per year for local students, with higher fees for non-subsidized and non-Singaporean students. The government provides substantial tuition subsidies through MOE Subsidies. How much does it cost to study at international and foreign universities in Singapore? Tuition fees at foreign and overseas universities in Singapore can range from SGD$51,840 to SGD$115,350 for a Bachelor's degree and from SGD$46,080 to SGD$133,884 for a Master's degree, depending on the program. What is the average cost of living for students in Singapore? The average monthly cost of living for students in Singapore can range from SGD$ 1,000 to $3,000, depending on their individual living standards and choices. What factors make studying in Singapore an attractive option for international students? Singapore offers quality education at a reasonable price, with internationally recognized universities, innovative pedagogy, and geographic advantages. Many foreign universities have established campuses in the country, making it an attractive destination for students.
List of US scholarships for MS for Indian students.

List of US scholarships for MS for Indian students.

The US is one of the most expensive countries to pursue further studies. With the rupee falling against the dollar and the annual increase in the tuition fees at US universities, this dream of studying in the USA is slowly slipping away for most Indian students. But not all hope is lost; if you are planning to send your child to the USA for a master's, then here is a list of US scholarships for MS courses your child should apply for!  List of US scholarships for MS courses   Scholarships are a great way to fund your child’s higher education and ease the financial burden on you as a parent. Scholarships are monetary rewards given to students based on their academic performance, financial need, or ethnic background. The reward given by each scholarship varies from university to university and may not be uniform for all awardees. (Some awardees may be eligible for a higher reward than others)  Apply for Scholarship US scholarships for MS course 1. Fulbright-Nehru Master’s Fellowships  Fulbright Nehru Masters Fellowship is for Indian students who wish to study in the USA for their master's. The program offers scholarships to students studying a wide range of courses like Arts and Culture, Economics, Environmental Studies, Higher, Journalism and Mass Communication, Public Administration, Urban, and Regional Planning & Gender Studies at select universities and colleges.   The fellowship is offered for one or two years and provides J-1 visa support, round-trip economy class air travel from a fellow’s home city to the USA, funding for tuition and fees, living costs, and accident and sickness coverage.   2. Narotam Sekhsaria Foundation Scholarships  Narotam Sekhsaria Foundation Scholarships offers meritorious students full and partial scholarships as interest-free loans to study abroad or in India. Students who have an excellent academic background and want to pursue postgraduation must apply for these loans and interest-free scholarships on the official website. Students can win financial rewards as well as mentor guidance to help them build a unique career.   3. Aga Khan Foundation Scholarship  The Aga Khan Foundation provides scholarships to pursue masters and PhDs to meritorious scholars from developing countries. Scholarships function as 50% grant and 50% loan rewards. Scholarships are awarded for full-term courses and not for short-term courses. The scholarships are a helping hand to those who cannot financially support themselves throughout college.   Students get assistance with tuition fees and living expenses. The scholarships do not cover travel costs while funding for Ph.D. courses is limited to 2 years of study. Since the program covers 50% grants and 50% loans, the interest charged on a 50% scholarship is 5% (less than the average loan interest rate in India).  The payback period is five years and starts six months after the study period. The loan scholarship requires a guarantor to co-sign and provide reassurance.   4. Generation Google Scholarship  Generation Google scholarships is an initiative by the tech company, Google to sponsor students who wish to study in Canada and USA. The scholarships are meant for students who wish to pursue computer science degrees at the bachelor's, master's, and doctoral levels. Students receive around $10,000 (for those studying in the US) or $5,000 CAD (for those studying in Canada) for the year. The scholarship is given on the basis of diversity, equity, and inclusion, demonstrated leadership, and academic performance.  5. Inlaks Shivdasani Foundation Scholarship  The Inlaks Shivdasani Foundation scholarship is offered to students to study in North America or Europe. It’s given to students who display exceptional talent in their field of choice. It covers a host of costs like tuition, one-way travel, and living expenses of more than US $100,000. During the interview process, students are required to provide financial proof to cover their course. This is a mandatory requirement for selection.   The list of US scholarships for MS courses for Indian students is one way to finance your child’s US dream. Apply for an Unsecured Loan to Study in USA FAQs Is it easy to get a 100% scholarship in the USA? No, it is not. The USA is a highly competitive study destination and millions of international students apply for similar courses. You must have an exceptional academic record and a brilliant portfolio in your chosen field to bag 100% scholarships for studying in the USA. What are some fully funded scholarships for the USA for Indians? Yes, several scholarships like Inlaks Scholarship and Fulbright Scholarship, are specifically available for Indian students pursuing higher education abroad. Is the USA costly to study in? Yes, the USA is considered one of the most expensive countries to study in. In 1980, the price to attend a four-year college full-time was $10,231 annually including tuition, fees, room and board, and adjusted for inflation according to the National Center for Education Statistics. By 2019-20, the total price increased to $28,775. That’s a 180% increase.
Sending your child to the UK? Ask these Questions!

Sending your child to the UK? Ask these Questions!

India has the world’s highest proportion of parents (over 88%) who want to send their child abroad for post-graduate studies. The UK tops the list of desirable destinations for Bachelor’s and Master’s, but before you start planning.  Questions to ask before sending a child to the UK 1. Which course is the best for your child?  First and foremost, you should sit with your child and understand his or her goals and aspirations. Proper communication is extremely important in this phase to gain clarity. Knowing which course your child takes to take can help you and them prepare better. You can create an education fund that helps them finance their dreams and the child can work towards gaining the skills and scores needed to get admission.   For example, if your child is interested in getting a seat for Engineering at the University of Cambridge, he or she must know that there are only 780 seats available. Hence, there is tough competition to get admission to engineering. Apart from that, he or she will have to get certain certificates like BTEC National Extended Certificate, Cambridge Technical Extended Certificate, and so on. All of this requires proper decision-making and planning to get admission there. There is also the average cost of studying in Cambridge that will go up by the time your child lands up there! 2. Which university is right for my child?  Selecting one particular university can be a tough task. The United Kingdom has universities providing degrees in all types of fields. Once you are done deciding on the field of education, start searching for universities that offer your particular domain of interest.   For example, if your child wants to get a degree in medicine, some of the good universities are as follows:  University of Oxford  King’s College London  Imperial College London  University of Edinburgh  University of Glasgow  Instead of medicine, if your child is interested in getting a degree in management, there are various universities providing education in that domain such as:  University of Manchester  University of Oxford  University of Leeds  University of Bath  University of Bradford  3. Is my child eligible to get admission to the desired university in the United Kingdom?  This is one of the most important questions you need to ask before sending your child to the UK and zeroing in on a university. Conduct thorough research on the eligibility criteria for getting admission to that particular university. Note that the eligibility requirements might be different for international students.   Suppose your child is interested in getting a management degree from the University of Manchester, then he or she needs to have a first or upper-second-class honors degree from an equivalent overseas university. If your child is planning their bachelor's then check if their school board is eligible for admission. There are other requirements like taking an English language test whose report has to be submitted. Note that this report will be valid only for two years.  4. What is the educational expense and cost of living in the United Kingdom?   The universities of the United Kingdom provide the best education, and related facilities, and bring with them a bunch of opportunities. Hence, of being so rich in quality, the cost of education in the universities situated there can be a little high. Students belonging to the country have to pay lesser than international students. If your child is going for a lecture-based course, then the tuition fees will range somewhere between Rs 11,30,000 to Rs 36,00,000 based on the course.  Suppose your child wants to get a degree in medicine from the University of Oxford, the tuition fees will range somewhere around Rs 36,00,000. Moreover, the cost of living and accommodation also adds up to the overall cost. It has been mentioned in the latest UK Visa requirements that the student needs to have the least amount of Rs 80,000 - 90,000 at all times in their bank accounts.   5. How to prepare financially to send my child to the United Kingdom for higher education?  If you have decided that you will send your child abroad for higher education, then it is best to start saving and investing as early as possible. Education has been on the rise for the past two decades. To counter that, you must invest a certain amount in various forms of investment such as equity, mutual funds, gold ETF, public provident funds, and so on.   All of these investments will help you to reduce the sudden burden of paying a huge amount as fees to the universities. Moreover, you will not have to borrow loans from banks. Hence, it is advisable to start financially planning way before your child has to get college admission.  FAQs What is the average cost of studying in the UK for an undergraduate? The average cost of studying in the UK is anywhere between £20,000 to £38,000 per year. The cost of studying is higher for international students because there is no cap on tuition fee increases due to increasing inflation rates. Why is the UK a good choice for higher education for my child? The UK is a great choice for higher education for your child because it is home to some of the best universities, and it offers shorter-duration courses and permanent residency. Its main language is English which means that Indian students can easily adapt and flourish in the country. How can I save for my child's UK university? The best way to save for your child's university is to start a SIP in any mutual fund (with annualized returns of nearly 12%). By saving just Rs. 10,000 monthly via SIP, you can save up to 50 lakhs in 15 years. Check out the EduFund App to start your SIP.
Everything about teaching your parents about the investment scenario in India

Everything about teaching your parents about the investment scenario in India

Did you know that only 0.18% of people in India invest in equities? Our parents, grandparents, and grand grandparents have been taught to invest in FDs, real estate, gold, LIC, and PPFs. This tradition of investing in safe assets is hard to break. Ways to educate your parents about the investment scenario in India 1. Tell them about the benefits  The biggest benefit of investing is the opportunity of growing your wealth. Investing in a disciplined manner can help investors grow their savings and reach financial goals. You might not be able to duplicate the net worth and investment of growth of stalwarts like Rakesh Jhunjhunwala but investing small amounts of money in equity-based markets can yield significant returns over the years. It can help your parents build a retirement fund and beat the inflationary prices of general goods and services.   Other benefits of investing in stocks, mutual funds, and ETFs are liquidity (which means you can withdraw your money anytime you want), diversify your wealth (you can invest in a number of stocks that belong to different industries), opportunity to get dividends (some stocks and companies give dividends to their long-term investors) and interests that beat inflation. Another benefit is that you can start with a small sum and scale up after gaining a better understanding. Markets have enough space for small and big investors to meet their financial goals!  2. Spread awareness about Inflation   Inflation has broken the projections given by RBI at the beginning of 2022! It has remained uncomfortably high across the globe and pushing the prices of goods and services to an all-time high. The only way to protect your purchasing power is to start investing and making your money work for you. Consider this, money in your bank account gets an average interest rate of 2-3%, FDs have an interest rate of 5-6% while inflation is raging at the rate of 6-7% in India alone.   Inflation attacks your money in savings and FDs, which is why exploring newer investments is a smart way to beat inflation and protect your money in the long run.     3. Accessibility to investing and tracking   Investing is becoming easier and easier due to the bloom of fintech start-ups and financial influencers in India. The wealth of knowledge about investing, saving, and financial planning can be overwhelming but is a great way to educate a country that has traditionally shied away from investing. There are thousands of apps that help Indians invest in a number of financial instruments. As investors in India, all you need is a PAN card, an Aadhar card, and a banking account to get started on any investment app.   From investing in Mutual funds, and digital gold to US stocks and ETFs, the opportunities are endless! You can track your investment with no brokerage fees, and absolute transparency and get professional guidance from experts on how to start investing based on your financial goals.   However, it's important to be aware of where you are investing your money and to check that the App or platform is SEBI registered. Make sure to take all the precautions and understand the risks that are associated with investing.    4. Encourage them to secure their savings   While money in your bank account or FD is safe, it is not enough to keep up with the growing prices. The cost of products like oil, vegetables, transport, and education is growing at a higher rate than the average income across India. To bridge the gap, you can start exploring the investment market and diversify your funds. The market has enough opportunities for risk-averse investors, retired individuals, and newcomers! With proper guidance and an abundance of information, you can protect your savings via investing.   These are some ways to educate your parents about the investment scenario in India. Over the years, millions of Indians have entered the investment market of India. You and your parents could also benefit from the market if you start investing properly and in a disciplined manner. Don’t start randomly, study the market, do your research, and consult a professional to minimize risks and protect your savings!  FAQs What are some of the most preferred investment options in India? Gold, Real Estate, and Fixed deposits are the three most preferred investment options in India. How much does an average Indian invest? The average India invests nearly INR 5000 monthly according to a survey by AMFI. At what age can Indians start investing? Indians can start investing by the age of 18 years.
How to fund your child's masters in Dubai?

How to fund your child's masters in Dubai?

College costs, University fees, and related expenditures are fast growing worldwide, and education costs in Dubai will be no exception. Indeed, the UAE has been one of the world's top five most expensive university pricing areas. Because of inflation, the cost of your child's education in the future may be substantially higher than the cost of education now. Regardless of mounting academic expenditures, as a parent, you would want to create the best educational opportunities for your child to help them lead a successful life. So, what are your plans to ensure that you are making efforts to save adequate funds for their further education while still preparing for retirement and personal needs? Ways to fund your child's masters in Dubai 1. Approach a Financial Advisor A financial advisor helps clients with how, where, and when to invest. They may guide you to find a comprehensive financial plan or specific investment vehicles to reach a significant financial goal. You can get assistance from a skilled financial expert on the below aspects: Make a list of your life's goals, priorities, and fundamental economic beliefs. Set financial objectives. Set priorities and allocate suitable amounts of surplus revenue to specific purposes. Choose appropriate investment schemes to assist you in meeting your goals. Financial advisors from EduFund help Indian parents plan for their children's future. They help parents choose the right savings plans that suit their child’s educational aspirations. You may use the EduFund app to plan and save for your child’s school (short-term goal) and college expenses (long-term goal).  You may also modify your goals to your individual needs. Parents can use the app to save for their child’s education by investing in mutual funds and US stocks. The app also has a unique college cost calculator that tells parents the future costs of college and helps them plan and save early towards it. 2. Begin early savings The most straightforward method to afford your children's educational aspirations is to begin early; the sooner you start, the better!  You must begin saving as soon as your child is born; if you've not already started to save, now would be the apt time to focus on your savings. Even small monthly savings add up to a significant amount over time. You may begin with as little as Rs 5000 each month, which can aggregate and develop to about Rs 10,00,000 in 18 years if your investment grows at 7.00% per annum. Compound interest has more time to work when the horizon is longer. 3. Make your money speak for you Deposit account rates have always been lower than the current inflation rate. Furthermore, education inflation is much higher than household inflation; thus, it is critical to invest in assets that offer better returns. Mutual funds are an excellent solution for combating inflation and reducing the risk. A well-diversified selection of international mutual funds should allow you to accomplish your investment objectives with little effort. Mutual funds are generally regarded as a secure investment that enables the client to grow their savings with little risk.  A mutual fund invests in several assets; even if one of the sectors or assets performs badly, the overall investment is not affected by that.  4. Maintain your commitment Investing is a tedious process, but it is ultimately profitable. Honoring your commitment throughout the investing period is critical to the success of your kid’s savings plan. There will be times when appealing investment prospects will entice you, or market volatility will reduce your investment value; do not be distracted and stick to your commitment. Markets will be unpredictable in the short and medium term, but they will reward you with significant profits in the long run. Remember that the goal of this investment is to save for your child's higher education. Additional read: How to plan child's master's in the UK College costs vs. earnings College prices in US regions have risen by 169% since 1980, while incomes for employees aged 22 to 27 have increased by 19%. The average cost of an overseas education ranges from $27,330 for government in-state university graduates to $55,800 for privately funded university students. Tuition expenses, accommodation, grants for books and classroom supplies, transportation, and other incidental expenses are all included in college costs. Tuition costs for an entire year at universities in the UAE can range from US $13,000 to $35,000 for international students. The costs for some specialized courses may be expensive as well. Most colleges in the UAE charge an application fee of around $55. Dubai University Fee as on 2022 (Fees Structure In AED) Conclusion It is important to invest early to meet the education expenses of your child. Understanding the present financial situation and developing a workable budget strategy is critical. Hence, it is crucial for parents to set aside some money each month to save for their child’s education in the long term. FAQs Should you invest in your child's education? Yes, it is important to invest in your child's education as the cost of studying across the globe is increasing. It takes Rs. 30 lakhs to raise a kid in India before they even enter college. Universities' costs are rising high can be over 1 crore as well. What are the best investment options to save for your child's education? Some of the best options are Mutual Funds. A mutual fund is a great long-term investment option that is extremely affordable and cost-effective. Parents have to start with just 3000 monthly and save up to 15 lakhs by the time their child is off to university. Why is the general cost of studying master's in Dubai? The cost of studying master's in Dubai depends on your program and university. It starts with AED 30,000 and can go up to AED 100,000!
How you need to save to send your child to King’s College London

How you need to save to send your child to King’s College London

Kings College London is one of the most reputed colleges in the whole world. The cost of attendance varies significantly based on your child’s course and can go up to 48 - 50 lakhs in total. Let’s find out how you need to save to send your child to King’s College London.   Tuition fees for courses in King's College, London  The tuition fees for the courses offered at Kings College London are quite high compared to the adjacent colleges. Let’s look at some of the popular courses chosen by students and their corresponding tuition fees.  MBBS: Rs 41 to Rs 43 lakhs per annum  MIM: Rs 23 Rs 36 lakhs per annum  BE: Rs 27 to Rs 29 lakhs per annum  MA: Rs 19 to Rs 28 lakhs per annum  BBA: Rs 21 to Rs 28 lakhs per annum  With the data mentioned above, we can conclude that getting a degree from Kings College London can be heavy on your pocket. Hence, if you would want your child to get admission here, you must start preparing for it early on.  Saving and Investment Options for a Child’s College Education  1. Find out the Cost of Attendance  Suppose you want to buy a house in 10 years, what is the first thing you do? You will find the house you like and the cost of buying it. Similarly, before you start saving to send your child to King’s College London, you need to figure out what will be the cost of attendance in the next 10 years of your child’s course and figure out the solution.   You can look at the past and data to estimate the average tuition fees or simply use the College Cost Calculator to find out how much you need to save after putting in just a few details. The calculator tells you precisely how much it can cost to send your child to a college anywhere in the world.   On average, it costs Rs. 48-50 lakhs to study master's while the cost of attendance for a bachelor is Rs.70-80 lakhs in total.   2. Mutual Funds  Mutual funds are considered to be one of the best options to invest in if you have a child who is still quite young.  You can start a SIP for Rs. 1000 or more and scale your child’s education fund by the time they are ready to fly off to college. Mutual funds offer professional investment management, diversification, and liquidity. At a nominal price, you get access to different industries, companies as well as different markets. Always check with a professional financial advisor before pooling your money in any investments and read the fine print to stay updated.   Start Investing in Mutual Funds 3. Public Provident Fund  Public Provident Fund is a tried and tested way to save to send your child to Kings College London. PPF is one of the most reliable savings schemes opted for by parents for their child’s education. This scheme requires a 15-year-long commitment for the corpus. As of now, the interest rate offered here is 7.1% which is more than what is offered by banks. Presently, banks offer an interest rate of around 5% per annum. Parents can choose to increase the tenure of investment in blocks of five years. After the extension of the PPF account, the subscriber is allowed to make one partial withdrawal every year. However, a restriction is imposed here which says that the total withdrawals during those particular five years should not be more than 60% of the total account balance.  4. Gold Savings  Gold savings is one such option that has existed for so long now. Gold is said to have an ever-increasing value. While investing in gold savings, you should make sure that you do not invest in physical gold. As a parent, it would be best if you invest in Gold ETFs and Digital Gold.   You can follow a strategy where you can buy a small amount of gold every month. Once you have collected enough, you can build up a sizeable one with those small amounts. It has been observed that investing in gold has provided much better returns when compared to other assets.   Gold is a hedge against inflation and works with it. In times when the prices of all goods rise due to high inflation, gold also rises, making your investments diversified and inflation-proof!   Additional read: Why should you consider the UK for your child's higher education? 5. US Stocks  Investing in US stocks to send your child to King’s College London is an underutilized tool! Saving in dollars has dual benefits, you not only benefit from your initial investment as the US market grows but also when the rupee falls against the dollar. Investing in US stocks also increases your purchasing power abroad, it helps you tackle the increasing costs and not lose out more money in currency exchange.    6. Unit Linked Insurance Plan  The Unit Linked Insurance Plan is said to be the best fit for individuals who are looking for both investment returns and insurance protection. It has been observed that ULIPs have been able to provide better returns than many traditional investment options. It helps to beat education inflation and save up effectively for your child’s college education. In this scenario, the chance of getting better returns is higher because a portion of the premium that is being paid is invested in the funds operated in the capital market.   These are some ways to save to send your child to King’s College London. TALK TO AN EXPERT FAQs What are the estimated tuition fees for courses at King's College London? Tuition fees vary based on the course, ranging from approximately Rs 19 lakhs to Rs 43 lakhs per annum. The total cost of attendance can be substantial. How can I estimate the future cost of my child's education at King's College London? You can use a College Cost Calculator or refer to historical data to estimate the average tuition fees for the next 10 years. On average, it costs Rs. 48-50 lakhs for a master's degree and Rs. 70-80 lakhs for a bachelor's degree. What are some investment options for saving for a child's education? Investment options include Mutual Funds, Public Provident Funds (PPF), Gold Savings (Gold ETFs and Digital Gold), US Stocks, and Unit Linked Insurance Plans (ULIPs). Each option offers unique benefits and should be considered based on your financial goals and risk tolerance. Are there any recommended investment strategies for saving for education at King's College London? Starting a SIP (Systematic Investment Plan) in Mutual Funds is a popular strategy for long-term savings. Diversification, professional management, and liquidity are some advantages. Additionally, consider PPF for a reliable and tax-efficient savings option. How can investing in US stocks benefit saving for education abroad? Investing in US stocks can offer dual benefits. As the US market grows, you can benefit from investment returns. Additionally, when the rupee falls against the dollar, your investments gain value. This strategy can help you manage increasing costs and currency exchange risks when sending your child to King's College London.
How to find the best country for your child's higher education?

How to find the best country for your child's higher education?

Selecting the best country for higher education may seem easy until you actually start researching. The idea of studying abroad can be fascinating but it comes with its own challenges. As per data from the Bureau of Immigration, 4 out of every 44,553 students in 2021 went abroad to pursue higher studies. And, with the plethora of study options opening up, students are spoilt for choice.  As a responsible parent, you would want to get the best country for your child's higher education. Now the big question is, “How to find that best country?”  Here is a list of some top parameters that you must consider in your search for the top country for your child’s higher education. Best country for child's higher education 1. Significance of a cost-benefit analysis Money is always an important parameter when it comes to higher education. And when you are sending your child abroad for higher studies, you’ll need lots of funds. You want to get the best possible advantage of every penny you spend. Furthermore, it is essential to look at the long-term return on every investment you make. Here are some questions that would help you with a cost-benefit analysis. What kind of career path does your child wish to pursue? Which countries have greater employment scope? What are the tuition fees and living costs in the foreign country where your child will study? As a parent, it is also necessary to consider what kind of loan you can apply for. Take into account visa costs, medical fees, etc., while sending your child abroad. 2. Affordability of the foreign country We all know that studying abroad can be expensive. But as a parent, you have to consider other big expenses too. Here are certain expenses you should take into account.  Accommodation  Food and utility costs  Shifting costs  Transportation charges  If your child is meritorious, then they will get scholarships that will fund the college tuition fees. However, still you have to manage other costs of their education. Hence, smart investments are the best way to plan your child’s higher education abroad. Additional read: Tata Digital India fund 3. Check university affiliations and recognition Higher education is a huge marketplace with thousands of universities but not all universities are recognized by local and government bodies. Always check the university before your child starts applying. Suppose, your child is applying to Canada then you can check the Designated Learning Institutions list provided by the Canadian government website and see if the university is listed there. The list also includes a list of colleges and courses eligible for the Post-Graduation Work Permit Program. The Department of Education in many foreign countries periodically publishes a list of accredited universities and colleges. You should ensure that your child seeks admission to accredited foreign universities only. Get unsecured ed loans at 9.85% | Apply now! 4. Try to go for a tried and tested foreign country There are various perks of sending your child to a tried and tested country for higher studies. The perks are multifold as your child will feel comfortable in the community of Indian students. It would be easier for your child to adapt to a familiar environment.  Moreover, in a tried and tested country, it becomes easy to plan and manage education well. Therefore, the employment opportunities for your kid increase once they graduate from college.  Your child will have a database of friendly folk and referrals that can help them in hard times. The immigration authorities and the admissions office of the college or university will be accustomed to your country’s cultural uniqueness. That’s why sending your child to a tried and tested country always exudes practicality. 5. Review the economic and political climate of the foreign country Nowadays, economic and political climate are the main parameters for selecting an appropriate foreign country for your child’s higher education. Even in developed nations across the world, education inflation is pretty much present.  The political climate of the country should be sound so that students can easily concentrate on their studies. For instance, during the first two months of the pandemic, the Trump administration tightened regulations for international students seeking employment in the USA. The event made it harder for Indian students to get jobs after studying for years in the country. Additional read: Tata balanced Advantage fund 6. Importance of a community Traveling to another country for education can be a bit terrifying for your child at the beginning. Culture shock can be hard on some children, they may find it hard to adjust to new situations and the independence that comes with studying abroad. There are many ways to make your child feel at home, you can opt for homestays or assign local guardians or relatives for your child’s care. Universities play a significant role in creating a holistic community for international students by organizing cultural events and sessions where students can get to know each other. For instance, top universities in the USA, UK, and Canada celebrate popular Hindu festivals like Diwali and Holi. While universities in Russia serve Indian food in their canteen to help students acclimatize to the space. Always search for countries, universities, and campuses that can help your child adjust nicely. These are some parameters that can help you find the best country for your child’s higher education in no time! Want to send your child to a foreign country but are worried about the cost? Then start saving and investing early to send your child with us! FAQs Why is a cost-benefit analysis crucial when selecting a country for higher education? To maximize the value of your investment, consider factors like career prospects, employment opportunities, tuition fees, and living costs in the chosen country. How can parents ensure affordability when sending their child abroad for education? Beyond scholarships, consider expenses like accommodation, food, utilities, and transportation. Smart investments can help manage these costs effectively. Why is checking university affiliations and recognition important? Not all universities are recognized; ensure your child applies to accredited institutions listed by the local government. This ensures the quality and recognition of their education. What are the advantages of choosing a tried and tested country for higher studies? Familiarity with the community of Indian students, ease of adaptation, practicality in planning, increased employment opportunities, and a supportive network are some benefits. Why is the sense of community crucial when sending a child abroad for education? A supportive community helps students adjust to a new environment and culture. Look for countries and universities that prioritize creating a welcoming community for international students.
Revealing Canada's Study Expenses: Hidden Costs

Revealing Canada's Study Expenses: Hidden Costs

Canada is a trendy destination for higher studies for Indian students because of its affordability and immigrant-friendly nature. As of 2021, more than 8 million immigrants living in Canada have permanent residency, which is about 21.5% of the total population of Canada.  While it is a dream destination, there are many hidden costs of sending your child to Canada that you may not be aware of and can strain your budget while planning. Cost of sending your child to Canada The cost of sending your child to Canada to study varies because of many factors like the province, choice of university, living standards, scholarships or grants, etc.  But the average tuition fee of a university is roughly ₹70-95 lakh for the entire duration of the course in the top 10 universities other than the University of Toronto, which usually comes on top of the list. This cost can easily go up to ₹1.2 - ₹1.5 crores depending upon the course, lifestyle, and the growing retail and education inflation on the market. Why Canada is the Best Country to Study Abroad? Read More Expenses before departing for Canada There are various other expenses that most people don’t discuss. Here are some things you’ll be spending on before your child even departs for Canada (other than their expenses): Take Education Loans for Studying Abroad 1. English Language proficiency tests: Most institutes require an English language proficiency test at the time of application itself. There are a few types of these. TestRegistration feesIELTS₹14,700TOEFL₹14,000GMAT₹18,800GRE (general/subject)₹16,600/12,500CAEL₹11,000 https://www.youtube.com/watch?v=x9B8449Iuw4 2. Guaranteed Investment Certificate or GIC GIC is one of the financial proofs used to obtain a student visa for Canada. The students must purchase a special guaranteed investment certificate (GIC) for CAD 10,200 (₹6,26,000) from one of the partnering banks, such as Nova Scotia Bank, ICICI Bank, SBI Canada Bank, or CIBC Bank, to adjust their living expenses for the first year. Banks also deduct approximately CAD 200 (₹12,300) as administrative fees (depending on the bank).  Immediately upon arrival in Canada, the student is given CAD 2000 (₹1,23,000). The students will then get CAD 8000 (₹4,91,000) in 12 equal installments to cover their monthly living expenses. https://www.youtube.com/watch?v=2d3XNHbB8II 3. Application Procedures  Depending on your program, each institution charges an application fee. It can vary between CAD 45 to CAD 200 (₹3,000-13,000) for international students. In addition to your child’s academic or work experience transcripts, they must submit their language test results to each university when applying. Can your child study MBA in Canada for under 40 Lakhs? Read More 4. Application for a study permit The application for a study permit costs CAD 150 (₹9,200), and the cost of biometrics (photograph and fingerprints) is CAD 85 (₹5,200). https://www.youtube.com/watch?v=nyV0rwJu-7c 5. Application for medical tests Medical tests are a part of the visa process. The Canadian embassy may require to choose a doctor from the panel that the Canadian government has suggested and furnish all the results of the listed exams. You must pay the doctor's fees, special tests, radiologist, and any necessary treatment. Masters or PGDM in Canada? Read More 6. Booking the flight ticket The final expense before leaving for Canada is the flight tickets. These flights can cost anywhere between ₹1-2 lakh depending upon the duration, place of departure, etc. https://www.youtube.com/watch?v=MwclWJ8Q2ZE Expenses after arriving in Canada After you’ve paid your child's tuition fee for the first year and the other expenses before sending them. The first thing is the living expenses. Living expenses can cost around ₹60-80 lakh (for the entire duration) depending on the lifestyle and the city you’ve chosen. Cost of accommodation, travel expenses, health insurance, utility bills, and miscellaneous expenses are living expenses. 1. Accommodation Living on a university or college campus: Staying on campus in dorms, shared rooms, or private room is the most cost-effective accommodation. It cuts down your transportation costs. The estimated cost of living in Canada is between CAD 3,000 to 7,500 (about ₹1,80,000 to 4,50,000) per year.  Living in rented accommodation: If you wish to live off-campus, keep in mind that you will need to pay two months' worth of rent (the first and last months' rent) and a damage deposit before moving in. A private apartment in Canada can cost roughly CAD 8,000-10,000 (₹5-6 lakh) per year, not including other expenses like internet, electricity, food, and furniture. 2. Health insurance International students must have health insurance that covers them in Canada and offers round-the-clock, seven-day-a-week medical care. However, health insurance rules depend on which province. The cost could range widely, from ₹35,000 to ₹55,000 per year (CAD 600 to CAD 900). 3. Other expenses The average daily expenses per month can cost as follows: Food (Groceries & Eating out) - CAD 300 (₹18,500) Phone & Internet - CAD 50 (₹3,000) Public Transport - CAD 80 - 250 (₹5,000- 15,000) Entertainment - CAD 150 (₹10,000) These are rough amounts and they will vary a lot on an everyday basis. The hidden costs of sending your child to Canada can disrupt your budget! But with the right planning for all these expenses, you can make studying your child in Canada as easy as a walk in the park. Start saving and planning for your child’s dreams. Talk to an Expert FAQs Why is Canada popular for higher studies? Canada's affordability and immigrant-friendly environment attract Indian students. Over 8 million immigrants have permanent residency, about 21.5% of Canada's population. What are the hidden costs of studying in Canada? Beyond tuition, various hidden costs arise, including language proficiency tests, GIC, application fees, study permit applications, medical tests, flight tickets, living expenses, accommodation, health insurance, and daily expenses. What are the expenses upon arrival in Canada? Post-arrival expenses encompass living costs, accommodation (on-campus or off-campus), health insurance, and daily expenses for food, phone, internet, transportation, and entertainment.
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