The Ultimate Guide to Cost of Studying in USA for Indian Students in 2024
The United States of America has been a popular destination for Indian students seeking higher education. While the quality of education and exposure to a diverse culture is appealing, the cost of studying in USA for Indian students can be a significant financial burden for many families. In this article, we will take a closer look at the study cost in USA for Indian students in 2024 and provide insights on managing the expenses. Let’s dive in!
Factors That Determine The Cost Of Studying In the USA
The cost of studying in the USA for Indian students in 2024 is an important factor to consider when planning to study abroad. However, the study in USA’s cost can vary greatly depending on various factors. Below are some top factors determining the cost of studying in the USA.
- Tuition Fees: One of the biggest factors that determine the study Cost in USA is tuition fees. The tuition fees in the USA can vary greatly depending on the course and the institution.
- Accommodation: The Cost of Accommodation is another important factor to consider when studying abroad in USA. The cost of accommodation can significantly differ based on the type and location of the accommodation. For instance, on-campus accommodation is usually more expensive than off-campus accommodation.
- Cost of Living: The Cost of living in the USA can also vary greatly depending on the location. Some of the major expenses that students have to consider include food, transportation, health insurance, and other miscellaneous expenses.
- Scholarships and Financial Aid: Scholarships and financial aid can significantly reduce the study in USA. Indian students can apply for various scholarships and financial aid programs offered by the institutions and the government.
- Course Duration: The course duration is another factor that can affect the study cost in USA. Shorter courses may be less expensive compared to longer courses.
- Exchange Rates: Exchange rates can also play a major role in determining the study in USA cost. Fluctuations in exchange rates can significantly affect the cost of tuition fees, accommodation, and other expenses.
Cost of Studying in USA For Indian Students in 2024
The cost of studying is a significant factor to consider when planning to study abroad. The USA is known for its quality education and world-renowned universities, but it can be expensive. However, the cost of tuition fees varies depending on the degree level and type of program you choose. Let’s look at the average tuition fees for different degree programs in the USA.
- Bachelor’s Degree: The average tuition fees for a bachelor’s degree in the USA range from $25,000 to $50,000 per year, depending on the university and program. Public universities typically have lower tuition fees compared to private universities.
- Master’s Degree: The average tuition fees for a master’s degree in the USA range from $30,000 to $50,000 per year. The tuition fees may vary depending on the program and university, with some programs charging more than others.
- MBA: The average tuition fees for an MBA program in the USA range from $50,000 to $100,000 per year. The fees for MBA programs tend to be higher than other master’s programs due to their prestige and quality of education.
- Diploma: The average tuition fees for a diploma program in the USA range from $5,000 to $20,000 per year. Diploma programs are typically shorter than other degree programs and may be more affordable for students on a budget.
Note that the above tuition fees are just averages and will vary according to the university and program. Additionally, the cost of living in the USA is also high. So students need to consider other expenses such as accommodation, transportation, and food.
English Proficiency Exam Fees in 2024
English proficiency exams are mandatory for international students applying to universities in the USA. The most popular English proficiency exams are IELTS, TOEFL, and PTE. These exams assess the English language skills of non-native speakers, including reading, writing, listening, and speaking. The cost of these exams varies depending on the test center and location.
Here is a breakdown of the average fees for each exam in India in 2024:
|1||IELTS||The average cost of the IELTS exam in India is around INR 14,000 to INR 16,000. The exam fee may vary depending on the test location and the type of test (Academic or General).|
|2||TOEFL||The cost of the TOEFL exam in India is around $180, which is approximately INR 13,000. However, the price may vary depending on the location and the test date.|
|3||PTE||The average cost of the PTE exam in India is around INR 13,300 to INR 16,700. The exam fee may vary depending on the test location and the type of test (Academic or General).|
It is important to note that these fees are subject to change, and students should confirm the fees at the time of registration.
If you are doing it for the first time, then preparing for these exams can be challenging. But with professional help, you can pass them with ease. This is where Transglobal Overseas Education can help. We provide PTE and IELTS coaching in Delhi at reasonable prices.
Student visa and application cost in 2024
Student visa and application costs are important factors when studying in the USA. Indian students will need to obtain an F-1 student visa to study in the USA, which requires paying a fee of $160. In addition to this, there are other costs associated with the student visa application process, including:
- SEVIS fee: SEVIS stands for the Student and Exchange Visitor Information System. It is a web-based system used to track and monitor international students and exchange visitors in the USA. Indian students will need to pay a SEVIS fee of $350 before they can apply for a student visa.
- Application fees: Indian students will need to pay an application fee to the universities they are applying to. The application fee can range from $50 to $100, depending on the university.
- Standardized test fees: Indian students will need to take standardized tests like TOEFL, GRE, and GMAT to apply for universities in the USA. The cost of these tests can range from $150 to $300, depending on the test.
- Travel costs: Indian students will also need to factor in travel costs when applying for a student visa. This includes the cost of airfare, accommodation, and transportation.
- Health insurance: International students in the USA are required to have health insurance. The cost of health insurance can vary depending on the coverage provided.
It’s important for Indian students to start the application process early to allow enough time for visa processing and to avoid any last-minute expenses.
Learn more about the student visa and application costs for your desired destination. Start your study abroad process today and make your education dreams a reality!
Cost of living in the USA for Indian Students
The cost of living is an important factor when studying in the USA. While tuition fees are the most significant cost of studying in the USA for Indian students in 2024, you must also factor in other expenses. Let’s take a closer look at the cost of living in the USA for Indian students.
|1||Transportation||Public transportation is widely available in most cities in the USA. You can use buses, trains, and subways to get around. The cost of transportation varies depending on the city. But you can expect to pay around $100-150 per month for a monthly pass. You can also save money by using ride-sharing services like Uber and Lyft.|
|2||Groceries||The cost of groceries in the USA is comparable to other developed countries. Cooking your meals at home as opposed to dining out can result in cost savings. You can buy groceries at supermarkets like Walmart and Target, which offer a range of affordable options. You can also find ethnic grocery stores that sell Indian spices and ingredients.|
|3||Health support||Healthcare in the USA is expensive, and you must have health insurance to cover medical expenses. Most universities offer health insurance to international students, but you must pay for it separately. The cost of health insurance varies depending on the plan, but you can expect to pay around $500-1000 per year.|
|4||Entertainment||The cost of entertainment varies depending on your interests. You can find affordable options for movies, concerts, and sporting events. You can also explore the city's museums and other attractions, many of which offer free admission on certain days.|
Get a clear understanding of the cost of living in the USA before you make the big move. As a one of the best overseas education consultants in Delhi, I have helped many students plan their education abroad in the USA. If you’re curious about the cost of living in USA and how it will affect your budget, Transglobal Overseas is here to help.
Accommodation costs in USA
Accommodation is a significant expense for Indian students studying in the USA. The cost of living varies from state to state and city to city. While some students prefer on-campus accommodation, others opt for off-campus housing. Here is a breakdown of the accommodation cost for Indian students in some of the top cities in the USA:
- New York City: Rent for a one-bedroom apartment can range from $3,000 to $5,000 per month. A studio apartment can cost around $2,500 per month.
- San Francisco: Rent for a one-bedroom apartment can range from $3,000 to $4,500 per month. A studio apartment can cost around $2,800 per month.
- Los Angeles: Rent for a one-bedroom apartment can range from $2,000 to $3,000 per month. A studio apartment can cost around $1,800 per month.
- Boston: Rent for a one-bedroom apartment can range from $2,000 to $2,800 per month. A studio apartment can cost around $1,800 per month.
- Chicago: Rent for a one-bedroom apartment can range from $1,500 to $2,500 per month. A studio apartment can cost around $1,200 per month.
Accommodation is a significant expense for Indian students studying in the USA. However, by choosing shared accommodation or a studio apartment, students can save on rent. It is essential to consider the location, amenities, and proximity to the university while choosing accommodation. Students can also explore on-campus accommodation options to save on rent.
How much is the bank balance required for a USA student visa?
One of the biggest concerns for Indian students planning to study in the USA is the cost of education. The US government requires all international students to show proof of sufficient funds to cover their living expenses while studying in the country.
The cost of studying in the USA for Indian students in 2024 is estimated to be around $40,000-$60,000 per year. But it depends on the institution and program. In addition to tuition fees, students will need to cover the cost of housing, food, transportation, textbooks, and other expenses.
To obtain a student visa, Indian students will need to demonstrate that they can support themselves throughout their studies. This means providing evidence of sufficient funds to cover the cost of tuition, living expenses, and other related expenses.
The amount of bank balance required for a US student visa varies depending on the duration of the course. Generally, students must show proof of funds to cover the cost of living for at least the first year of their studies. The minimum amount of funds required to show varies from institution to institution.
The US embassy or consulate will typically require proof of funds in the form of bank statements, along with other financial documents such as income tax returns, salary slips, or property documents.
So, students should aim to show bank balances equivalent to one year’s tuition fees and living expenses. In most cases, it is estimated to be around $50,000.
In addition to showing proof of funds, students may also be required to provide a financial guarantee in the form of a scholarship, assistantship, or other financial aid like education loan, etc. This can help reduce the amount of bank balance required and ease the financial burden on students and their families.
Taxes in the USA
Taxes in the USA can be a complex and confusing topic for international students, especially when studying abroad. As an Indian student planning to study in the USA in 2024, it’s important to understand the tax system to manage your finances effectively.
First, it’s important to note that international students are subject to federal, state, and local taxes in the USA. However, the taxation rules for international students may differ from those for US citizens and permanent residents.
One of the most important things to keep in mind is the distinction between resident and non-resident status for taxes. Generally, international students are considered non-residents for tax purposes unless they meet certain criteria. This means having a green card or meeting the substantial presence test. As a non-resident, you will be subject to a different tax rate and may not be eligible for certain deductions and credits.
As an international student in the USA, you will also need a Taxpayer Identification Number (TIN) or a Social Security Number (SSN) to file taxes. Non-residents can apply for an Individual Taxpayer Identification Number (ITIN) from the IRS.
When it comes to the types of taxes, you may be subject to; there are several to consider. The most common are federal income tax, state income tax, and Social Security and Medicare taxes (also known as FICA taxes). Additionally, some states and localities may impose sales tax, property tax, or other taxes that could impact your finances.
It’s important to note that there are some tax exemptions and benefits that may be available to international students. For example, if you are a non-resident and your only source of income is from a fellowship or scholarship. That income may be exempt from federal income tax. Additionally, some states may offer tax exemptions or credits for tuition payments.
To ensure that you are meeting all of your tax obligations and taking advantage of any available benefits, it’s recommended to seek professional advice. They can assist you in filing your tax returns and answer any questions you may have about your tax situation.
Scholarships for Studying in the USA
Scholarships can be a great way to offset the study in USA cost. Here are some scholarships that Indian students can consider:
Bachelor’s Scholarships for studying in USA
- Inlaks Shivdasani Foundation: It offers scholarships to Indian students who wish to pursue undergraduate degrees in the USA. The scholarship includes coverage for tuition fees, living expenses, and airfare.
- Tata Scholarship: It is available to Indian students who are admitted to Cornell University for undergraduate studies. The scholarship covers the full cost of attendance, which includes tuition, living expenses, and travel.
- Mahindra Scholarships: These are available to Indian students who have been admitted to Harvard University for undergraduate studies. Coverage for tuition fees and living expenses is provided by the scholarship.
Master’s Scholarships for studying in USA:
- Fulbright-Nehru Master’s Fellowships: These are available to Indian students who wish to pursue a Master’s degree in the USA. The scholarship includes coverage for tuition fees, living expenses, and airfare.
- Aga Khan Foundation International Scholarship Programme: This is available to students from developing countries, including India, who wish to pursue a Master’s degree in the USA. The scholarship covers tuition fees and living expenses.
- Rotary Peace Fellowships: The Rotary Peace Fellowships are available to Indian students who wish to pursue a Master’s degree in the USA in a field related to peace and conflict resolution. The scholarship covers tuition fees, living expenses, and travel.
It is important to note that these scholarships are highly competitive, and applicants must meet specific criteria to be considered. In addition, most scholarships require students to maintain a certain grade point average and participate in community service or research projects.
Transglobal Overseas helped many students to secure scholarships to fund their education abroad. Learn more about how transglobal can help you find the right scholarship for your academic and financial goals.
Part-time jobs in the USA in 2024
One of the biggest concerns for international students studying in the USA is the high cost of education. With tuition fees, accommodation costs, and other expenses, it can be challenging for many students to finance their education. However, part-time jobs in abroad can be an excellent way for students to support themselves financially while studying in the USA. Let’s look at the different types of part-time jobs available to Indian students in the USA.
On-Campus Jobs in USA:
Many universities in the USA offer part-time jobs on their campuses to help students earn some extra money. These jobs can include working at the library, cafeteria, bookstore, or administrative office. These jobs are usually flexible and can be scheduled around the student’s academic commitments. Also, on-campus jobs do not require a work permit, making them an easy option for international students.
Off-Campus Jobs in USA:
International students who want to work off-campus must obtain a work permit, which is issued by the US Citizenship and Immigration Services. Off-campus jobs can include working in retail stores, restaurants, or other businesses in the local community. Students can also work remotely for companies in other parts of the country. However, it is essential to check the visa regulations before accepting an off-campus job.
Co-ops and Internships in USA:
Co-op programs and internships are excellent options for students to gain work experience in their field of study while earning money. Co-op programs are typically longer than internships and can last up to six months. They can be paid or unpaid, depending on the employer. Many universities have partnerships with companies that offer co-op programs to their students.
Internships are shorter than co-op programs and can last from a few weeks to several months. They are typically paid and can be a great way for students to gain work experience in their field of study. Many companies offer internships to international students, and some may sponsor their work permits.
Conclusion (cost of studying in USA for Indian students)
Studying in the USA is a great investment in your future. But it can be expensive for international students, especially for Indian students. However, there are various options available to reduce the cost of studying in the USA for Indian students in 2024.
These include applying for scholarships and financial aid, choosing affordable universities and living arrangements, and working part-time jobs. It is important to plan ahead and budget carefully to make the most of your time studying in the USA while also managing the cost. By taking advantage of the various resources available, Indian students can fulfill their dream of studying in the USA without breaking the bank.
If you are still Confused about the cost of studying in the USA for Indian Students, then Get in touch with Transglobal Overseas today to know the exact cost of studying in USA for Indian students and prepare for the journey ahead!
FAQs Regarding Cost of Studying In USA for Indian Students
Which university in the USA is the cheapest?
The university in the USA with the lowest tuition fee for Indian students varies depending on several factors, such as program, location, and level of study. However, some of the affordable options for international students include Arkansas State University, Brigham Young University, and California State University.
How can you calculate your own costs of studying in the USA?
To calculate the study cost in USA, you should consider tuition fees, accommodation, transportation, food, health insurance, textbooks, and personal expenses. Many universities provide a breakdown of estimated costs on their websites, and you can use online cost-of-living calculators to get a rough estimate.
What is the Average Cost of Living in the US?
The average cost of living in the USA varies significantly depending on the location, lifestyle, and other factors. However, according to a report by the College Board, the average cost of living for a full-time undergraduate student in the US is around $18,000 per year.
Can I get an education loan in the USA?
Yes, international students can apply for education loans in the USA, but they usually require a co-signer who is a US citizen or permanent resident. Some of the popular education loan providers for international students include Prodigy Finance, MPower Financing, and Global Student Loan Corporation.
Can I work in the USA while studying?
International students in the USA can work on-campus up to 20 hours per week during the academic year and up to 40 hours per week during breaks. They can also work off-campus under certain conditions, such as internships or co-op programs related to their field of study.
What is an affordable course in USA?
The cost of courses in the USA varies depending on the institution and program. However, some of the affordable options for international students include community colleges, which offer diplomas and certificates at a lower cost than universities. Additionally, some of the popular programs that are comparatively less expensive include computer science, business, and hospitality management.
How to reduce the cost of studying in USA in 2024?
To reduce the study in USA cost, international students can consider applying for scholarships, bursaries, and other financial aid programs. They can also consider living off-campus and sharing accommodations with roommates, cooking their meals, and using public transportation instead of owning a car. Some students also take advantage of co-op programs that provide paid work experience, which can help offset their living expenses.