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Plan Your Finances to Study in America Like A Pro!

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Plan Your Finances to Study in America Like A Pro!

  Posted On: 09 March 2023

Plan Your Finances to Study in America Like A Pro!

Most Indian students during school plan to Study in America after 12th. In fact, the United States has become a dream destination for studying for most people, considering its beautiful beaches, great places to go around, stunning sceneries, western culture, and of course, quality education. So are you also one of them? If so, we are here to get that dream of yours to come true.

We know that among the many challenges of studying in the USA is the one associated with finances. While some cannot afford to spend a lot and are thus, denied by their parents, others want to plan everything to find out the estimated expenses. Whichever one you are, this blog will be of great help.

You would already be aware of the tuition fees for your preferred course at the university of your choice. But what about the rest of the expenses? Thus, we have listed all kinds of expenses from food expenses to accommodation costs so you can plan your finances to study in America like a pro. What are we waiting for then? Let’s jump to the details!

Cost of Accommodation While You Study in USA

If you want to study in America after graduation, you should know that in the US, accommodation costs can vary greatly depending on the area you choose. If it is a rural region, the costs can be significantly low. For example, the starting rent of a one-bedroom apartment in rural areas is 600 USD. However, if you happen to choose a university in an urban area (where you’ll have the best time of your life), like Boston, the costs can be as high as 3,000 USD.

One more thing - if you want to save up on your accommodation costs so you can have those weekends out with your friends, we recommend you opt for a stay outside the university campus. Living off campus means you can get a shared place to stay for as low as 450 USD per month. However, that means commuting expenses so you should carefully consider the distance and transportation costs compared to how much it would cost you to stay on campus.

Utility Costs

Accommodation comes with several utility bills when you Study in USA. Yeah, who likes to pay bills? But you have to pay them as much as anyone else has to. So, to begin with, the electricity costs can vary from 50 to 100 USD a month. The same goes for heating costs. The Internet can cost you nearly 50 USD a month (you will mostly have to use it for your assignments instead of watching Netflix!).

The expenses of trash, sewer, and water can total up to 25 USD for a month. And finally, a phone subscription can cost you 50 USD monthly. You might want to run away from your family right now, to live alone and have all that freedom, but believe us, you’re gonna miss them more than you can imagine! And international calling isn’t inexpensive. But you can always use Whatsapp, Skype, or Zoom to connect with your family while saving on those phone bills while you study in America after 12th.

Transportation Costs

If you happen to live off-campus, you will be commuting often. However, if you live on campus, you are highly likely to go out on weekends. After all, do you not want to explore a foreign place? So when you study in America after graduation, you can obtain a monthly pass for public transport. If you’re lucky enough, your university might even offer you a discount. So this can cost you anything between 45 USD and 100 USD.

Do not forget to include the airfare - flying from your country and back home can be highly expensive. This means that if you’re on a tight budget, you might want to cut down on those trips.

Study in America: Miscellaneous Expenses

If you are wondering what else could be there while you study in America, think about all the food you will be buying, stationery and books for studying, and factors like medical care and health insurance. Generally, the cost of study materials can range between 400 USD and 1,000 USD for an academic year. It majorly depends on your course. If you want to save and spend this money in a restaurant, you can purchase second-hand books.

Health insurance is a must while you Study in America after 12th. This can be 700 USD to 1,100 USD. While it may seem expensive now, it can be less expensive overall for the period of your stay.

Finally, for the basic necessity, food, you will probably be spending more than necessary. On-campus food can be 250 USD for a month. But there is a high possibility you go out for meals or even grab a couple of beers in a bar with your peers. Now that is where a lot of your money will be going into. We recommend you not be tempted by it too much or you’ll spend all your money in one place.