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Study Abroad Guide

Study In The USA Budget 2022

September 2022

The United States of America is a premier destination for students across the globe who choose to study abroad. Each year, the multitude of students apply to revered USA institutions to gain international exposure and top-notch education to have their future secured. Students prefer to learn in the USA for an assortment of reasons, which include the high quality of instruction, the distinctive curriculum, the heterogeneity of the country, and the plethora of opportunities. Over the years, the USA has evolved into a top study destination with over 1.1 million international students. The great reputation of American colleges and the degrees they offer attract a large number of international students.

Cost of studying in the USA

Major reasons to study in USA

  1. Globally ranked and accredited institutes:
  2. Strong percentages of employment and prospects
  3. Diversity of universities and courses to opt from
  4. Vibrant cultural environment
  5. Extremely good international student support system

According to the 2022 QS World University Rankings, half of the top 10 universities are in the US, and 28 of the top 100 universities are from the US.

Factors to be mindful of while estimating your spending

It is always crucial to estimate spending and savings when a student prepares to embark on his or her study abroad destination. When preparing a financial plan for pursuing an international education, one must take into consideration the following aspects in addition to the tuition cost:

Lodging expenses

Prior to taking a flight to the USA, one should consider the cost of accommodations. The majority of American public and private institutions will admit you and provide boarding accommodations. The majority of them will be dorms, which will cost you an annual fee of about USD 1000. Renting a stay outside the campus can be relatively expensive. The budget range varies according to the type of lodging and location.

Food spendings

In a country like the USA, a student's experience is never complete unless they explore the city and savor the local cuisine. In order to fully enjoy your new city life, it is advised to set away between $10000 and $25,000 each year.

Transportation and commutation charges

If you opt to reside off-campus, it is recommended that you seek a location that is either a few kilometres or a manageable walk from the campus of your institute. Taking public transportation will substantially reduce the costs of long-distance travel. Regardless of the distance, it is generally advisable to set aside $500–1200 for additional travel expenses.

For an Indian student, the annual expenses fall within the following ranges under different heads:

  1. Books and study materials: From INR 68,445.
  2. Accommodation: From INR 3,80,250.
  3. Room, if living off-campus: Around INR 38,025 in a month.
  4. Food: Variable
  5. Traveling within the US: Up to INR 53,235.
  6. Weather-appropriate clothing: Variable.
  7. Entertainment expenses: Variable.

Cost of Studying in the USA for Indian Students

The total expenses incurred by a student on the fee of tuition is directly proportional to the course of application, university of application, and the pre-requisites of the course. Compared to disciplines like medical, engineering, and business management, the fees of courses in the humanities, education, and the arts are significantly less.

 No.  Study program  Average annual tuition fee
 1  Bachelor’s Degree  USD 8,000 – USD 40,000
 2   Associate Degree  USD 3,800
 3   Master’s Degree  USD 10,000 – USD 60,000
 4   PhD Degree  USD 28,000 to USD 55,000

Pre-arrival Spending:

 No.  Expense head  Cost
 1  IELTS fee  USD 8,000 – USD 40,000
 2   TOEFL fee  USD 3,800
 3   University application fees  USD 10,000 – USD 60,000
 4   Student visa  USD 28,000 to USD 55,000
 5  GRE fee  USD 213
 6  GMAT fee  USD 275


1. Which are the top universities to study in the US in 2022?

The Top 5 US Universities in 2022, according to the QS World University Rankings, are: Massachusetts Institute of Technology (MIT), Stanford University, Harvard University, California Institute of Technology (Caltech), University of Chicago.

2. How much bank balance is necessary to be shown for US student visa?

The bank balance to be shown will depend on the course and institute of application. Your Form I-20, Certificate of Eligibility for Nonimmigrant Student Status, will include a comprehensive explanation of the financial requirements.

3. Which visa do I need to apply for studying in the US?

'F' category US visa is to attend a university or college in the US as an international academic student. Vocational education students will need a 'M' visa instead.

For further assistance or queries students can contact us, Edwise International, and avail of our wide range of services for students on destinations like Universities in USA, study in USA, study in UK, study in Ireland, study in Canada, study in Australia, study in New-Zealand, study in Singapore and many other countries.

Also read: Types of Travel and Tourism Courses in Canada

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