Cost of Studying in USA 2024 - Tuition Fees, Living Cost & Other Expenses

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Meridean Overseas
Meridean Overseas

Updated On 04 January 2024 & Read Time 10 minutes

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The USA attracts many international students due to its excellent universities. Universities in the USA facilitate students with innovative research, quality education, a friendly environment, etc. Every year, many Indian students aspire to study abroad, with the USA topping the list. Are you also considering studying in the USA in 2024 but concerned about the expenses?

 

The cost of studying in the USA for Indian students can be a concerning factor where expenses commonly include accommodation, tuition fees, transportation, and other routine costs. Therefore, understanding the financial landscape is vital for international students as it will help them plan their budget properly while studying and living there.

 

In this guide, we will delve into the comprehensive details of the cost of studying in USA 2024, covering tuition fees, living costs, and other essential expenses that students should consider as they plan their educational pursuits.

 

Cost of Studying in USA 2024

The overall cost of studying in the USA involves a combination of tuition fees, living expenses, and additional costs. The estimated cost for the academic year 2024 varies based on factors such as the chosen institution, course of study, and location. The average cost of education in the USA for international students can be INR 38,00,000 per year. Cost of Studying in USA for Indian Students in 2024.

Degree Type

Average Annual Tuition Fee

Bachelor’s Degree in USA

INR 6,50,000 - INR 33,25,000 /year

Master’s Degree in USA

INR 8,31,350 - INR 50,00,000 /year

To deeply understand the study cost in the US, let’s read further.

 

Course Wise Annual Tuition Fee in USA 2024

Different academic disciplines come with varying tuition fees. Here, we will find the average annual tuition fees for various courses in 2024, offering prospective students insights into the cost associated with their chosen fields of study.

  • Engineering - $30,000 - $45,000
  • Business Administration - $35,000 - $50,000

  • Humanities - $25,000 - $40,000

  • Science and Technology - $35,000 - $50,000

  • Medicine and Health Sciences - $40,000 - $60,000

 

Top Universities Tuition Fees in USA

Aspiring to study at prestigious institutions is a common goal for many international students. However, the cost of studying at top universities can be higher than the national average. Here is an overview of estimated annual tuition fees for some renowned universities. Cost of Studying in USA for Indian Students in 2024.

University Name

Tuition Fees (USD)

Tuition Fees (INR)

Massachusetts Institute of Technology

50,000 - 55,000 USD/year

INR 39,16,150- 43,07,765/ year

Stanford University

25,000 - 55,000 USD/year

INR 19,58,075- 43,07,765/ year

Harvard University

25,000 - 51,000 USD/year

INR 19,58,075- 39,94,906/ year

California Institute of Technology (Caltech)

44,000 - 57,000 USD/year

INR 34,46,586- 44,64,895/ year

University of Chicago

55,000 - 59,000 USD/year

INR 43,07,765- 46,21,558/ year 

Factors to Determine Cost of Education in USA 2024

Several factors play a role in determining the overall cost of studying in the USA for Indian students. Influential elements include tuition structure, location, course duration, and additional fees. Public institutions generally have lower tuition for in-state students than out-of-state and international students.

Here is an overview of the major expenses to study in the USA:

  • Cost of studying in USA for Indian students

  • Cost of living to study in USA  

  • Other essential study costs

 

Pre-arrival and post-arrival study in USA cost 

 

Living Cost in USA 2024

Beyond tuition fees, the cost of living in the USA is a significant consideration. The USA is more expensive than other countries like India because of its transportation, healthcare costs, living expenses, and more.

 

The average living cost, including accommodation, food, transportation, and miscellaneous expenses, ranges from INR 8,50,000 to INR 16,62,000 per year. However, the cost of living can vary based on the city, with urban areas generally being more expensive than suburban or rural areas.

 

Here is an overview of the cost of living in the USA.

Expenses

Average Cost (INR)

Apartment housing, including utilities 

INR 14,30,000 /year

Food

INR 5,40,377 /year

Dormitory housing

INR 6,30,000 - INR 10,00,000 /year

Food for dormitory residents

INR 2,06,756 /year

Books and supplies

INR 75,000 /year

Miscellaneous

INR 55,000 /year

Essential Study Cost in USA for International Students 2024

Beyond the basics, international students encounter various study-related costs. This section will explore essential expenses such as SEVIS fees, US study visa costs, health insurance, application fees, and counselling fees, offering a comprehensive understanding of the financial landscape.

 

US Study Visa Cost - SEVIS Fees

The Student and Exchange Visitor Information System (SEVIS) is a crucial aspect of studying in the USA. SEVIS fees amount to $350 for F and M visa applicants and $220 for J visa applicants. These fees contribute to the maintenance of the SEVIS system.

 

US Study Visa Cost - Application Fees

Securing a student visa is a pivotal step for international students. The application fee for a US student visa (F or M) is $160. It's important to note that this fee is non-refundable, regardless of whether the visa is approved or denied.

 

Health Insurance Cost to Study in USA for Indian Students

Healthcare costs can be substantial in the USA, and having adequate health insurance is necessary. International students are often required to have health insurance coverage. The cost of health insurance can range from $500 to $2,000 per year, depending on the coverage and the insurance provider.

 

Application Fee - Cost of Education in USA

Applying to universities often incurs application fees. The average application fee for US universities ranges from $50 to $100 per application. Students need to consider this cost when applying to multiple institutions.

 

Counselling Fees to Study in USA for Indian Students

Many students seek professional guidance through counselling services. The cost of counselling services can vary, with some institutions offering free counselling services and others charging fees ranging from $50 to $200 per session. Online counselling services may also be available at different price points. 

 

Pre-Arrival & Post-Arrival Cost of Studying in USA

There are other costs you must consider to study in the USA. These costs will be pre-arrival and post-arrival. Below, you can check the detailed analysis of pre-arrival and post-arrival costs of studying in the USA for international students.

 

Pre-Arrival Cost of Education in USA

Preparation for studying in the USA involves upfront costs such as entrance exam fees and airfare. Entrance exam fees for standardised tests like the SAT or GRE can range from INR 5000 to INR 17000. Moreover, airfare from India to the USA can vary but is generally in the range of INR 32,000 to INR 1,08,000, depending on the time of booking and the airline.

Exams

Fee Cost

MCAT

INR 26,000

NEET

INR 1,600

IELTS

INR 20,000 - INR 21,000

TOEFL

INR 15,700

GRE

INR 17,000

GMAT

INR 22,800

SAT

INR 5,000

 

Post-Arrival Cost of Education in USA

After arrival, various expenses arise in the USA. The post-arrival costs include tuition fees and the day-to-day cost of living. Tuition fees are typically paid at the beginning of each semester. The average cost to study in the USA is INR 37,40,000/year. Moreover, students should budget for living expenses based on their chosen city and lifestyle, which ranges between INR 8,30,000 and INR 16,60,000/year.

 

Also, Read: How to get a Scholarship to Study in USA

  

Point to Consider to Manage Cost of Studying in USA 2024

Studying in the USA is an investment in one's future, and understanding the costs involved is essential for informed decision-making. From tuition fees and living costs to additional expenses like health insurance and application fees, international students must consider the below points to manage finances in the USA.

 

Strategies for Financial Planning

Effective financial planning is key to managing the costs of studying in USA. Students should create a detailed budget, explore scholarship opportunities, and consider part-time work options on campus (subject to visa regulations) to supplement their income.

 

Advisory on Managing Finances

Students should open a local bank account, monitor their expenses closely, and seek guidance from international student advisors on campus. Being proactive about financial matters ensures a smoother experience during their academic journey.

 

Navigating Currency Exchange

International students should be mindful of currency exchange rates and potential fees associated with transferring money internationally. Exploring cost-effective ways to transfer funds, such as using online transfer services, can be beneficial.

 

Post-Graduation Considerations

Students should also consider the financial implications of post-graduation. Understanding visa regulations, work opportunities, and potential paths to extending their stay or pursuing further studies is essential for long-term financial planning.

 

Continued Support Services

Universities in the USA often provide continued support services for international students, including financial counselling and resources for managing expenses. Students are encouraged to utilise these services for ongoing assistance.

 

Conclusion

In conclusion, the cost of studying in the USA involves various elements where careful planning and resourceful decision-making can empower students for financial success. By understanding the details of tuition fees, living costs, and additional expenses, international students can Confidently start their academic journey, fully prepared for the exciting opportunities that studying in the USA offers.

 

We hope this blog helps you learn everything about the cost of Education in USA 2024, and you can apply to US Universities to study. However, if you have doubts and are seeking to study in the USA, contact our expert counsellors at Meridean Overseas Education Consultants (MOEC). You can also take free online counselling through our website. Our expert counsellors will provide you with the best support and guidance you need for admission and visa. In addition, they will help you shortlist the universities according to your profile. For more information or any queries, contact application02@meridean.org or 1800-1230-00011.

 

FAQs

Q1. What are the average tuition fees for different courses in the USA?

Ans. The average tuition fees vary by course, ranging from $25,000 to $60,000 per year.

 

Q2. How do living costs vary across different cities in the USA?

Ans. Living costs can vary significantly. Urban areas are generally more expensive than suburban or rural areas.

 

Q3. What is the purpose and amount of SEVIS fees?

Ans. SEVIS fees contribute to maintaining the Student and Exchange Visitor Information System. The fee is $350 for F and M visa applicants and $220 for J visa applicants.

 

Q4. Are there scholarships available to offset the cost of studying in USA?

Ans. Yes, numerous scholarships and financial aid options are available for international students. These can significantly reduce the financial burden. Students should explore scholarships offered by universities, private organisations, and government programs in the USA and their home countries.

 

Q5. What strategies can students use to minimise living costs while studying in the USA?

Ans. Students can minimise living costs by opting for shared accommodation, cooking at home, utilising public transportation, and taking advantage of student discounts. Additionally, budgeting and financial planning are crucial to managing expenses effectively.

 

Q6. Can international students work part-time in the USA?

Ans. Yes, international students on F-1 visas are generally allowed to work part-time on campus. However, there are regulations and restrictions, and students should consult with their designated school official (DSO) for guidance.

 

Q7. What are the visa regulations regarding post-graduation employment?

Ans. The USA offers Optional Practical Training (OPT) for international students after graduation, allowing them to work in their field of study. Understanding the OPT process and requirements is crucial for post-graduation planning.

 

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