Tuition Fees & Cost of Living for Master’s in Australia

Australia is a popular destination for international students, providing world-class education, a high standard of living, and good post-study options. However, understanding the cost of studying in Australia is critical for efficiently managing your money. From tuition to housing and daily expenses, here’s everything you need to know about budgeting for your studies in Australia. Read on!

Understanding the Cost of Living and Studying in Australia

Universities in Australia offer not just quality education but also global recognition through their master’s programs. However, there is no denying the fact that studying here comes at a substantial investment. Here are a few key expenditures you need to plan for:

1. Tuition fee: The academic cost varies as per the course and the university you choose 
2. Pre-application expenses: These are the costs related to university applications and exams, like GMAT or IELTS 
3. Living expenses: These are the day-to-day costs while staying in the country 

Depending on your university, city, and living style, you should be prepared to spend $20,000 – $42,000 as a student while pursuing your master’s degree program. 

Knowing these figures in advance helps you plan your finances more effectively and avoid surprises upon arrival at the destination.

Pre-Application Expenditure in Australia

Pre-arrival costs often go uncalculated when planning to study in Australia. However, these costs, such as application fee, student visa application, and health insurance, etc, can add up and burn a hole in your pocket if not planned well in advance. These expenses are vital for your smooth transition to the country. 

The following table an help you understand the various costs you are likely to incur even before you apply to a university in Australia.

Please note: These costs are subject to change. Please visit the official websites for the latest information

Read More: Study Master’s in Australia: Benefits & Career Opportunities for Indian Students

Tuition Fees for a Master’s in Australia

Prospective students in Australia can choose from a number of top institutions. However, the decision to study there can vary based on the tuition prices and the student’s resources. To give you an idea, below is a table illustrating the costs of studying at major Australian institutions.

Please note: The tuition fees listed in the table are subject to change. Please visit the official university websites for the latest information

Read More: Scholarships for Master’s in Australia: Eligibility & How to Apply

Primary Living Expenses in Australia

In addition to tuition fees, students must budget for monthly expenses while living in Australia. These include housing, food, transportation, internet access, cell phone plans, and personal items. Your total cost of living will vary according to your area and lifestyle.

This section will guide you about the monthly cost of living in Australia’s most popular cities, as well as the normal monthly expense breakdown, so you can make the proper financial decisions.

City-Wise Living Cost (Monthly)

Please note: These city-wise living costs are for your reference. The actual expenditure may vary.

If you plan to lower your costs, consider opting for universities in less popular cities like Adelaide, Brisbane, and Canberra. These cities also offer excellent master’s programs, but at relatively affordable living costs. 

Monthly Expense Breakdown

Here is a breakdown of common monthly expenses that a student can expect when studying abroad in Australia:

Please note: The costs listed above are merely for reference purposes. Actual expenses may vary depending on your needs, lifestyle, and other important considerations.

Best Tips to Manage Costs and Save Smart During Your Master’s in Australia

Here are some effective tips to manage your expenses prudently while pursuing your Master’s in Australia:

• Scholarships: Apply early for government or university-specific scholarships. ApplyBuds has helped several students crack scholarships in the range of AUD $5000 to AUD $15000 per year. Macquarie University, for example, gives an AUD $10,000 Early Acceptance Scholarship to Indian candidates.
• Cook your own meals: Eating out frequently is going to be expensive. Grocery shopping and batch cooking can reduce your food costs by half, while giving you a community feeling and delicious meals with friends.
• Live in shared housing: Student halls and shared apartments not only save rent but also other costs such as Wi-Fi and utilities. So unless you are there with your entire family, make sure you find a roommate that meets your vibe.
• Use public transportation: Most states provide student discounts for travel cards. Walking or cycling over short distances is also beneficial! Invest in a bicycle , while on campus. A lot of graduating seniors would be selling those, so watch out for the yard sales.
• Student discounts: From technology purchase (laptops, earpods) to grocery loyalty points, display your student ID, and there are discounts everywhere!
• Part-time work: You can work up to 48 hours per fortnight throughout the semester and full-time during holidays. Assuming a $12 per hour that’s going to fetch you nearly $1000 per month – which should cover all incidental expenses and more.

Final Thoughts

Studying in Australia is an exciting and educational experience, but you must be financially prepared. Your Master’s dream can be made reasonable and sustainable with careful preparation, scholarships, and budgeting. For more information or expert guidance, feel free to sign up at ApplyBuds