Total Expenses to Study MS in the USA

The US has been one of the attractive study destinations for international students with the most advanced education ever. But the standard of living is so costly. Many students who want to study for MBA in the United States are afraid because of it. Thus, many international students have seen the cost of studying in America as a hot topic of discussion. Read on to know more about studies in the US and everything about accommodation, health, fees etc.

1. Cost of tuition

There are more than 4,000 universities and colleges in the United States. The tuition fees vary greatly and the fees of schools in the same state are also significantly different. The public school system applies only to indigenous peoples. International students must therefore study for 15,000-25,000 USD per year at private schools. Furthermore, if students do not have families in the USA, they must remain in the boarding school. Total US high school students cost between $28,000 and $40,000 per year. For US schools, there are no usual fee brackets.

MBA in the United States

Most schools are self-supporting and self-paying. Tuition fees, therefore, vary according to school as well. In particular, the study fee can amount to 40,000-50,000 USD/year in leading universities (usually private non-profit organisations). MiM in the USA costs less than MBA. International students in public universities can look for more affordable options. The public college is the cheapest option (also called a community college). This is an environment in which students can graduate or obtain a university degree in general.

2. Cost of living

International students studying in the USA have many options, including:

Students stay in residential accommodation or apartments run by schools in the United States. Prices vary according to school. In particular, it will also depend on the rooms you take; whether you want to stay in a single room or a shared room, including meals. International students will be required to pay between USD 8,400 and 12,200 per year. The benefits of on-campus accommodation are that you can connect and interact very quickly with other students. This is a good way for newcomers to live and meet and communicate in a multicultural setting.

International pupils may rent or share an apartment with other pupils outside the school. The costs are usually lower than those in schools. The price of an apartment for one bedroom is from $600 (suburban) to $3000/month (in big cities). You’ll pay approximately USD 450-700 a month when you share a room with others. International student offices frequently provide students with apartment/lodging information for ease of search. Please note that this service is offered only by a few universities. Usually, this service is more onerous than renting a room, but students receive host families and help quickly integrate American culture. A range of $10 000 – $13 000 per year can be applied to accommodations. Services can be included in house/room rental or cannot be included. Before deciding to rent you should therefore carefully check with the landlord. Here are some utilities and their average prices:

Electricity: 50 – 100 USD/month.

Heating: 50 – 100 USD/month.

Internet: 45-50 USD/month.

Telephone: 50 USD/month.

Water and sanitation costs are usually paid by the landlord, but they only cost 15-25 USD/month.

3. Other expenses

The Application fee depends on the college or school and varies for each one of them between 45-100 USD. The cost of a VISA is 200 USD. The books and materials are priced at 500 – 1,200 USD/year. The health insurance costs around 700-1,100 USD. Therefore, the answer to the question “How much it costs to study in the United States” largely depends on your study path and financial situation. Moreover, you can always apply for US bursaries or financial support to cut your financial burden. Renowned universities often offer international students extremely generous full-time bursaries. You can also check out business schools that dont require GMAT to save you some extra money.

4. Cost of travel

The monthly public transport is between $45 and $100. The cost of shipping from home to the US is the most expensive and vice versa. Also, you should plan a budget for travel and enjoy your weekend depending on where you live and where you want to go. In general, for a trip, you pay around 500 USD.

5. Cost of food

On-campus, for an additional charge of around US$250/month, you can choose meals with accommodation.

The price for food in the restaurant is the following: a pizza costs about $7, a cup of coffee costs $4.5. If you pay approximately USD 12 for a meal in Chicago, then USD 15 in San Francisco. International meals cost around USD 300-500 per month on average. Fast food restaurants have been made for convenience and affordable prices for many international students. Nevertheless, you should go to the market and cook at home to ensure hygiene and nutrient content.

Conclusion

The above-mentioned information can be used to plan your study procedure if you’re going to the States. You can use it to start your preparations and have an idea as to how things would work there once you leave. Focus on the preparation for your entrance exams and do your best! All the very best!

Author Bio

Author Bio: Abhyank Srinet is a passionate digital entrepreneur who holds a Masters in Management degree from ESCP Europe. He started his first company while he was still studying at ESCP, and managed to scale it up by 400% in just 2 years. Being a B-School Alumni, he recognized the need for a one-stop solution for B-School to get in touch with schools and get their application queries resolved. This prompted him to create MiM-Essay, a one-of-a-kind portal with cutting edge profile evaluation and school selection algorithms, along with several avenues to stay informed about the latest B-School Updates.