This Is Why You Need Student Finance For Postgraduate Studies

Written by Shefali Onawale

Someone, somewhere said a thing...and now we remember it because they probably wrote it down! She used to write for herself and now writes to help others. Writing has brought her a long way and she wishes to walk some more, preferably making sojourns along the way.

April 21, 2021

If you Google “the most expensive countries to study in” the top 3 results that display are the UK, Singapore and Australia. If you are thinking of pursuing your postgraduate studies in one of these countries, you might have to make arrangements for your finances. Student finance for postgraduate studies is available in all three countries in the form of scholarships, government grants, studentships, educational loans and more. 

Student Finance For Postgraduate Studies in the UK

Most students prefer studying in the UK because the degrees offered by its higher educational institution (HEIs) are renowned and reputed worldwide. A number of world ranking universities call the country home and are known to offer challenging and creative curriculums that prepare students for the real world beyond the walls of the classrooms. 

Cost Of Postgraduate Studies In The UK

The cost of your postgraduate course will vary depending on a number of factors. This includes the duration of your course, the field of research and the university you are choosing to study in. Moreover, the costs for international students are much higher than for domestic students. For example, where a simple Masters in Finance for a domestic student would cost £8000, the same course for an international student would cost somewhere between £16000 to £18000. 

Cost of Living For Students In The UK

The UK’s cost of living for international students is significantly higher than the rest of the countries. The Government of the UK recommends you to have a budget of £1270 per month to live in London or other parts of the UK. The living costs in the UK depend highly on your lifestyle, choice of residence and budget. However, there are some basic costs that you need to consider and prepare for and these are as follows:

Cost of Amount Per Month
Rent (without bills)£500-£550 
Bills (gas, electricity, water, heating)£100-£130
Food£200-£220
Travelling (without Oyster)£300-£400 
Travelling with Oyster£150-£200
Dinner at a restaurant £20-£30
Stationary £40
Medical Insurance @ NHS£150

Finding student finance for postgraduate studies in the UK can be a challenge but it certainly is not unachievable. The cost of studying in the UK for Indian students is as expensive as it is for any other foreign national. The UK Government encourages all students to be financially sound before flying to the country to study further. For this, the Immigration Department of the UK also asks students to submit their financial documents while applying for a visa. The financial document, such as the bank statement, should reflect that the student is able to support themself financially throughout the course of their study in the UK. 

There are several modes you can take in order to receive student finance for postgraduate studies in the UK. These include studentships in the UK, UK Government Scholarships such as the Chevening Scholarship and more.

Student Finance For Postgraduate Studies in Singapore

Singapore has been ranked as one of the best cities in the world to study in since 2013. Singapore is the rising star amongst the Asian economies when it comes to education and resources relating to education. The HEIs of Singapore invest in offering the students a world-class student experience through education and technology. Moreover, the country also has ample work opportunities after graduation. 

Cost Of Doing Postgraduate Studies In Singapore 

Singapore may seem a more expensive country to study in as compared to other Asian countries. Moreover, the country gives a tough competition to the UK and Australia when it comes to the cost of tuition fees for specific subjects relating to STEM and Medicine. The cost of pursuing a postgraduate degree in Singapore is different for international and domestic students. For domestic students, the average tuition fees for a postgraduate degree is S$8000 to S$ 9000. Whereas, the cost for the same course for an international student would be around S$30000 to S$35000. 

Student Finance For Postgraduate

Cost Of Living In Singapore For International Students 

Just like the UK, Singapore also has a high standard of living. Moreover, finding part-time jobs in Singapore for international students is a challenge. International students can only work 16 hours per week on a student visa. This is 4 hours less than what the UK offers to its international students. If you wish to study in Singapore with a scholarship, the cost of living might seem more bearable, as working part-time in such a case would not be absolutely necessary. The following is a breakdown of the cost of living in Singapore as a student: 

Cost Of Amount Per Month
Rent (including bills)S$450-S$500
Food S$300
Bus Transport (without concession)S$70 -S$100
Public Transport (with concession)S$43-S$45

Student finance for postgraduate studies in Singapore needs to be thoroughly planned and executed. The country offers some of the best postgraduate scholarships in the world with high quality of education and financial aid. Moreover, the Government of Singapore aims to attract talented students from all over the world to help them get access to world-class education facilities. Singapore Government Scholarships have made it possible for international students to harness the best modes of education. 

 

Student Finance For Postgraduate Studies in Australia

Applying for MS in Australia is a tedious procedure because of the number of documents, proof of funds and English proficiency evidence you need to produce in order to get enrolled into an Australian university. However, Australia is still one of the top destinations for international students. There were approximately 4,00,000 international students enrolled on postgraduate and undergraduate degrees in Australia in 2020. 

Cost of Doing Postgraduate In Australia

Just like Singapore and the UK, the cost of studying in Australia depends on several factors. One of the most prominent factors it depends on is if you are pursuing an undergraduate or a postgraduate course. The cost of undergraduate courses for international students is way more crucial than the cost of postgraduate courses. Moreover, while the cost for a postgraduate course for a domestic student is AUD 8000, the same course will cost an international student approximately AUD 23,000. 

Finding student finance for postgraduate students in Australia is a process as meticulous as taking admissions into an Australian university of your choice. This is because the country aims to attract and retain only bright and talented minds and make them a part of the country’s workforce. 

Cost Of Living In Australia For International Students 

The cost of living in Australia will highly depend on the city you are choosing to stay in. However, the basic cost of living in Australia as an international student is as follows: 

Cost Of Amount Per Month
Rent AUD 750 – AUD 1000
Food & GroceriesAUD 450 – AUD 700
Utilities AUD 200
Transportation AUD 70 – AUD 100

The cost of living and studying in Australia may not seem a challenge if you are studying in Australia with a scholarship. Australia offers international students with fully-funded scholarships to help them find student finances for postgraduate studies, as well as scholarships that are partially funded. 

Thanks for reading this blog on This Is Why You Need Student Finance For Postgraduate Studies. If you are curious to learn more about the scholarships offered from around the world, the following may be of interest: 

1.You Can Easily Study The Famous Courses In Oxford

2.Apply To the 2021 Sports Scholarships For International Students

3.The Ultimate International Scholarship Test For 2021

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