By Randhir Moola, Program Director, IMS International
According to the Ministry of External Affairs, there were approximately 1.5 million Indian students pursuing education abroad as of January 2023. This implies that studying abroad is undoubtedly a dream that many Indian students aspire to fulfil increasingly.
Though studying abroad is a life-changing opportunity, in reality, it comes with a hefty price tag. At this point, many students and their families become concerned about the financial implications of this dream. Tuition, accommodation, and living expenses can quickly add up, making studying abroad an expensive affair for most of the students.
However, beyond those fabled destinations, there exists one more world of budget-friendly study abroad destinations which offer quality education at an affordable price.
Germany: Germany stands out as a popular choice because of its low tuition fees (public universities offer programs with negligible tuition fees) and excellent education system. Germany can significantly reduce your financial burden, but you still need to pay for accommodation, health insurance, and daily living expenses. However, affordable housing options do help bring the cost of living down to a manageable amount. A budget of around INR 70,000 to INR 80,000 per month is ideal for comfortable living, but this may vary depending on the location and lifestyle of the individual.
Italy: Italy is another cost-effective choice. Known for its diverse cultural landscape and rapidly growing economy, Italy offers affordable tuition fees, scholarship opportunities, and a growing job market. Add to it the country’s thriving cultural scene and stunning surroundings, and one can see why Italy is a top choice for Indian students. Bachelor’s programs typically cost between INR 5,22,422 and INR 17,41,407 per year (Many public universities charge negligible fees), with housing costs ranging from INR 26,121 to INR 60,949 a year.
Norway: One of the highest-ranking countries for standard of living, Norway, is a hub for some of the most prestigious business, science, marketing, and finance universities. Moreover, education is considered a right in this country, leading many higher education institutions to offer fully sponsored programs for EU and non-EU residents. Additionally, Norway, known for its welcoming and inclusive society, makes it easier for international students to adapt and feel at home. Bachelor’s programs typically cost between INR 6,00,000 and INR 8,00,000 per year, whilst most master’s programs cost between INR 8,00,000 and INR 17,00,000 per year.
France: France has lately emerged as the top choice for international students, especially for business and arts degrees. The rich cultural heritage, coupled with a great academic environment, has led to thousands of students flocking to cities like Paris and Nice to pursue their higher education. Much like the public universities of other European nations, French institutions also offer scholastic opportunities at a very reasonable cost compared to their American or Canadian counterparts. Tuition fees for bachelor’s programs typically cost around INR 2,50,00 to INR 8,50,000 per year, whereas most master’s programs cost around INR 9,00,000 to INR 15,00,000 per year.
PS: From the historic yet high-tech classrooms of Germany and Norway to the cultural melting pots like France and Italy, these destinations offer not only quality education but also diverse cultural experiences. As the demand for global education continues to rise, these affordable options provide you with a pathway to broaden your horizons without emptying your parents’ wallets, actually!