Know The Cost of MS In USA For Indian Students

Opting to move abroad to pursue higher education can be one of the most rewarding decisions that you will take in your lifetime. Not only it reflects the social status of a person, but also provides him/her an opportunity to explore diversified cultures, make long-lasting international friendships, and learn from the pioneers that are best in their field across the planet.When we talk about studying abroad, one of the first countries that come to our mind is the United States of America (USA). With its favourable policies, supreme infrastructure, and an ocean of opportunities post-studies, USA has become a hotspot for a number of students from India. According to the 2019 Open Doors Report on International Educational Exchange (IIE), more than 2 lakhs Indian students were studying in the USA at that point of time.

As you know, the course fees mainly depend upon the type of course and university that would be opting for. If you opt for a public university, you might have to pay a lesser amount as compared to a private university. For example, at the University of Southern California (USC), the average course fees for a 2-year MS program is 76,000 US Dollars or approximately Rs. 58 lakhs. On the other hand, if you choose a Public State University, the average MS course fees come down to 30,000 US Dollars or approximately Rs. 25 lakhs.

Apart from the course fees, you will also have to incur accommodation or living charges if you’re willing to stay and study in the US. Again, the accommodation charges depend upon the university and the area where you will be residing. Typically, you will find a rented accommodation in the state by spending around 1,000 to 2,000 US Dollars (Rs. 76,000 to Rs. 1.5 lakh) every month. Add another 150 to 200 US Dollars (Rs. 1 lakh to Rs. 1.5 lakh) for food and other miscellaneous expenses.

F1 VISA is the VISA provided to the international students willing to study in the USA. For obtaining an F1 VISA, you will have to pay a VISA interview fee of 160 US Dollars (approximately Rs. 12,000) and a SEVIS fee of 200 US Dollars (approximately Rs. 15,000). It’s best if you clear the VISA interview in the first attempt. Else, you will have to shell out the VISA interview fee of 160 US Dollars again.Besides the above-mentioned expenses, you will also have to keep a sum aside for some unforeseen expenses such as a medical emergency, or an unplanned travel etc. Also, it’s advisable to opt for a travel insurance policy which will protect you from the contingency expenses while you’re on a foreign land.

The information contained herein is generic in nature and is meant for educational purposes only. Nothing here is to be construed as an investment or financial or taxation advice nor to be considered as an invitation or solicitation or advertisement for any financial product. Readers are advised to exercise discretion and should seek independent professional advice prior to making any investment decision in relation to any financial product. Aditya Birla Capital Group is not liable for any decision arising out of the use of this information.