Is Australia Worth the Investment? A Financial Breakdown to Study in Australia!

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Introduction

Many international students are now choosing to study in Australia. In 2024, Australia hosted a record number of international students, as per the latest data published by the Department of Education, Australia. According to the Department of Education, 853,045 international students chose to study in Australia in 2024.

Australia is becoming increasingly popular among international students owing to a number of benefits of studying in Australia.

  • Australia is home to some of the best universities in the world.
  • International students prefer Australia over European countries, as English is the medium of instruction.
  • Australia offers excellent post-study work opportunities for international students.
  • Students can access top-quality education while enjoying natural beauty and experiencing the rich Australian culture.

These are only a few reasons why students choose to study in Australia. However, an important aspect of your study in Australia decision is the ‘finance’.

What is the study cost in Australia for international students?

This article will give you clarity on the cost of education in Australia – tuition fees, living expenses, and so on. We will also take you through the numerous opportunities you can unlock by studying in Australia to help you make a clear and calculated decision to study in Australia.

Let us step by step assess the financial investment to study in Australia vs the return on your investment.

Understanding the Study Cost in Australia for International Students:

For international students, the cost of education to study in Australia is an important factor. The total cost of education would include multiple factors:

  • Application cost
  • Tuition fees
  • Living expenses
  • Miscellaneous expenses.

Let us evaluate each parameter in detail.

Cost of Applying to Top Universities to Study in Australia

An important cost element, even before you secure admission to a university in Australia, is the application cost. Students must incur application-related expenses to study in Australia. This includes:

  • A non-refundable application fee that ranges from AUD 50 to AUD 150 per application.
  • English proficiency test cost could range between AUD 250 and AUD 400.
  • Additional costs like documentation expenses, courier services, etc.

The total cost of applying to universities in Australia could range from AUD 500 to AUD 1,200, depending on the number of universities you choose to apply to study in Australia.

Tuition Fees for International Students to Study in Australia

The tuition fees for top universities to study in Australia may vary. The tuition fees depend on the university, course, and degree level. Let us look at the approximate tuition fee range to study in Australia.

  • Undergraduate programs tuition fees range from AUD 25,000 to 45,000 per year
  • Postgraduate programs tuition fees range from AUD 30,000 to 50,000 per year
  • Doctoral degrees tuition fees range from AUD 25,000 to 40,000 per year

International students enrolling for top courses to study in Australia, like engineering, business, medicine, may have to pay higher tuition fees. Whereas tuition fees for popular courses like humanities, social sciences, etc., may be more affordable.

Let us look at the tuition fees at some of the top universities to study in Australia:

  • Deakin University
    • Undergraduate programs: AUD 30,000 to AUD 38,000 per year
    • Postgraduate programs: AUD 32,000 to AUD 45,000 per year
  • La Trobe University
    • Undergraduate programs: AUD 28,000 to AUD 36,000 per year
    • Postgraduate programs: AUD 30,000 and AUD 43,000 per year

Living Expenses for International Students to Study in Australia

Living expenses include accommodation, food, travel and transportation, personal expenses, etc. International students may spend approximately AUD 2,000 to AUD 2,500 on living expenses, depending on their standard of living.

As per the official figures estimated by the Australian government, the minimum living cost is AUD 29,710 per year for international students. The figure includes accommodation, food, transportation and leisure expenses.

It is important to note that the living expenses can vary based on the city in Australia. For instance, Sydney and Melbourne are more expensive than Perth, Adelaide or Brisbane.

It can be concluded that the total study cost in Australia for international students can range between AUD 50,000 and AUD 70,000 per year.

Understanding the Benefits of Studying in Australia

Let us look at how students can benefit from studying in Australia and balance out the financial investment to study in Australia.

Scholarships and Financial Aid to Study in Australia

International students can apply for scholarships and financial aid to study in Australia. Students can apply for different types of scholarships to study in Australia.

  • Government scholarships:
    • Australia Awards Scholarships
    • Destination Australia Scholarships
    • Endeavour Postgraduate Scholarships
  • University-Specific Scholarships:
    • Merit-based scholarships like Deakin University International Scholarships or Vice-Chancellor’s International Scholarships.
    • Need-based scholarships for students with financial need.
  • Private and Organization-funded Scholarships:
    • Rotary International Scholarships
    • Commonwealth Bank Scholarships

International students can reduce the cost of education in Australia by applying to one or more of these scholarships. Scholarships and financial aid to study in Australia usually cover 100% or part of the tuition fees. Some scholarships also assist students with living expenses.

Post-Study Work Opportunities for International Students

As per the Temporary Graduate Visa (Subclass 485), international students can stay and work in Australia for:

Study in Australia career opportunities are plenty for international students. The post-study work visa (PSWV) policy allows international students to work in Australia. This not only helps recover the education cost but also allows students to establish a flourishing career in Australia.

  • 2 to 4 years after completing their bachelor’s degree.
  • 3 to 5 years after completing their postgraduate degree.
  • Up to 6 years for PhD graduates.

Let us look at the average annual starting salaries in Australia to help you understand your earning potential.

  • IT and Computer Science: AUD 70,000 – AUD 90,000
  • Engineering: AUD 75,000 – AUD 95,000
  • Business and Management: AUD 65,000 – AUD 85,000
  • Health and Medicine: AUD 80,000 – AUD 100,000+
  • Education and Social Work: AUD 60,000 – AUD 75,000
  • Applying for Permanent Residency (PR)

Australia also gives international students who have made a successful career in Australia a pathway to permanent residency (PR).

The Australian PR process works on a points-based immigration system. International students/graduates can earn points based on:

  • Age
  • Education level
  • Work experience

Completing a degree from a top university in Australia can help international students earn additional points. An Australian PR unlocks numerous opportunities for international students. You can successfully build your life and career in Australia; an incredible return on your investment to study in Australia!

Important Tips for International Students to Maximize the Return on Investment (ROI)

International students can follow certain steps to reduce the study cost in Australia.

  • Apply for Scholarships Early: Scholarship applications can be competitive. Students must check the scholarship websites to ensure they do not miss the scholarship deadlines.
  • Work while studying: As per the Australian student visa (Subclass 500), international students can work up to 48 hours per fortnight while studying. However, students are allowed to work for unlimited hours during academic breaks.
  • Build Your Network: International students must connect with alumni and industry professionals to help secure internships and job opportunities.
  • Budget Smartly: Students should consider all the cost parameters to study in Australia and outline a precise and careful budget to manage expenses well.

Conclusion

International students can access numerous opportunities and benefits of studying in Australia. It is important to understand the study cost in Australia for international students. However, this should not deter your decision to study in Australia. In the long run, the benefit does outweigh the cost if you plan smart and work hard. You can eventually build your life and career in Australia, a country that consistently ranks among the top 10 countries in the world for quality of life, safety and healthcare!

Want to maximize your benefits of studying in Australia and reduce the study cost in Australia for international students? Connect with HelloUni NOW! With HelloUni you can access experts and directly talk to representatives of top universities in Australia. Get clarity on your study in Australia journey.