How Much Money is Required To Study in Australia?

June 6, 2022

While studying abroad might be costly, organizing your budget carefully can help you stay on top of your expenses. When calculating the projected cost of studying in Australia from Nepal, make sure to factor in expenses such as housing, food, health insurance, and travel in addition to your tuition fee.

Australia as a country attracts students from all over the world for a variety of reasons. Australia, like all other countries, boasts some of the world's greatest universities. These colleges thrive through innovative activities, excellent faculty, and high-quality instruction.

While academics add to the appeal, it may be the only country with a pull due to its exceptional living circumstances and promise of a fantastic student life. So, how much does living that life cost? And how much does studying there cost? 

This blog post will assist you in visualizing all of your costs in Australia, your study abroad destination.

Money needed to study in Australia

1. Your Primary Expense Is Tuition

Tuition fees vary depending on the sort of qualification and Australian universities and institutions you choose. Veterinary and medical degrees, for example, are significantly more expensive than other degrees. Tuition expenses at an Australian tertiary institution typically range from AUD 20,000 to AUD 30,000 per year.

Study Program

Average Fees in Australia 
1 AUD= 86.72 NRS (5/18/2022)

School $7,800 to $30,000 annually
676406.81 to 2601564.65
English Language Studies $350-450 weekly (varies as per course length)
30351.59 to 39023.47

Vocational Education and Training

(Certificates I to IV, Diploma and Advanced Diploma)

$4000 – $22,000 annually
34687.53 to 1907814.08
Undergraduate Bachelor's Degree $20,000 – $45,000*annually
1734376.43 to 3902346.97
Postgraduate Master’s Degree $22,000 – $50,000*annually
1907814.08 to 4335941.08
Doctoral Degree $18,000 – $42,000*annually
1560938.79 to 3642190.51

*Please note all figures are indicative

Courses in the arts, humanities, and education have a lower average cost but engineering and medicine often have higher prices. The tuition fee for postgraduate studies is normally greater, and the expenses vary based on the program. If you wish to reduce your educational costs, you should apply for one of the many scholarships offered to Nepalese students.

2. Where Will You Be Residing? Calculate Your Accommodation Expenses

Most Australian institutions provide on-campus housing for international students. You can also choose off-campus housing, where you can share an apartment with other Nepalese students or stay with an Australian family. Living costs and rent is normally paid in advance every two weeks. Be aware that prices for renting apartments in different cities vary.

Accommodation Type Expenses 
1 AUD= 86.72 NRS (5/18/2022)
Hostels and Guesthouse $90 to $150 per week
7,804.69 to 13,007.82 NRS
Shared Rental $95 to $215 per week
8,238.29 to 18,644.55 NRS
On-Campus $110 to $280 per week
9,539.07 to 24,281.27 NRS
Homestay $235 to $325 per week
20,378.92 to 28,183.62 NRS
Rental $185 to $440 per week
16,042.98 to 38,156.28 NRS
Boarding schools $11,000 to $22,000 per week
9,53,907.04 to 19,07,814.08 NRS

*Please note all figures are indicative

3. The Price of a Student Visa

To study in Australia, you must first obtain a valid student visa, which comes with its own set of charges (approx. AUD 606). For the most up-to-date information on the visa application procedure and associated costs, please contact your IDP counselor.

4. Costs of Living

Keeping some money aside for unexpected expenses such as grocery shopping, social events, and social gatherings is a good idea. It is preferable to keep track of your expenses when studying in a foreign nation so that you do not overpay. General living expenses in Australia are $21,041 per year, according to the Australian government. An international student's annual budget ranges from $20,000 to $27,000. (given your living arrangements and personal choices).

Living Expenses Weekly Budget
1 AUD= 86.72 NRS (5/18/2022)
Groceries and Eating $140 to $280
12,140.64 to 24,281.27 NRS
Gas and Electricity  $10 to $20
867.19 to 1,734.38 NRS          
Phone and Internet $15 to $30 
1,300.78 to 2,601.56 NRS
Public Transport $30 to $60
2,601.56 to 5,203.13 NRS
Car $150 to $260
13,007.82 to 22,546.89 NRS
Entertainment  $80 to $150
6,937.51 to 13,007.82 NRS

*Please note all figures are indicative

5. Be Cautious About Medical Assistance and Insurance

All students planning to go to Australia from Nepal must obtain medical insurance prior to the start of their program. Medical insurance costs roughly AUD 500 per year on average (indicative). All Nepalese students in Australia have access to extensive health and support services. IDP can assist you in finding the best Overseas Student Health Insurance (OSHC).

6. Determine How Much It Will Cost To Transport and Travel

Your institution may provide a shuttle service from and to your accommodation, but if not you must use public transportation. In most Australian cities, there is a well-developed public transportation network. 

As a result, when students from Nepal come to study in Australia, weekly transportation costs between $30 and $60, depending on the city and your schedule. In Sydney, the Opal card is the smart ticketing system, whilst in Melbourne, Myki is the smart ticketing system. These cards will set you back about $50 per week.

7. Pay Attention to Your Taxes

If you want to work part-time as an international student in Australia, you'll need a Tax File Number (TFN). This arrangement also allows you to work 20 hours a week during academic sessions and full-time during vacations. 

Your earnings will be taxed if you work in addition to your studies, but the good news is that most international students are eligible for a tax refund at the end of the year. In Australia, part-time students pay an average of 15.5 percent income tax on their wages.