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Study Abroad Budget Calculator

Work out study abroad budget instantly with clear inputs, formula shown and shareable results.

About Study Abroad Budget Calculator

A study abroad budget has three parts: tuition over the course duration, living costs over the same period, and one-off travel, visa and insurance costs. Visa financial requirements are usually assessed against the first year's tuition plus twelve months of living costs.

Formula

Total budget

Total = Annual tuition x Duration in years + Monthly living cost x Months + One-off costs

Worked example

With the default values below, Study Abroad Budget Calculator returns Total budget required of $8,230,000.00. Change any input above and every figure here is recalculated in your browser.

Inputs used

Annual tuition fee
2,800,000
Monthly living cost
95,000
Travel, visa and insurance (one-off)
350,000
Course duration
24

Results

Total budget required
$8,230,000.00
Tuition component
$5,600,000.00
Living cost component
$2,280,000.00
Average monthly cost
$342,916.67

Step by step

  1. 1Values used
  2. 2Total budget
  3. 3Total budget required= 8,230,000.00
  4. 4Tuition component= 5,600,000.00
  5. 5Living cost component= 2,280,000.00
  6. 6Average monthly cost= 342,916.67

Assumptions and limits

  • The result is derived only from the 4 inputs listed above. Anything not among them is not part of the calculation.
  • In particular, this calculator does not take inflation or tax into account.
  • Figures are rounded for display to 2 decimal places, so totals built from several rounded parts can differ slightly from the unrounded arithmetic.

How these calculators are built and tested is described on the Methodology page. If a figure looks wrong, please report it.

Frequently Asked Questions

What does a student visa require you to show?

Typically the first year's tuition plus nine to twelve months of maintenance funds, held for a minimum period in an acceptable account.

Can part-time work cover living costs?

Only partly. Most student visas cap working hours at around 20 per week during term, which rarely covers more than half of living costs.

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