Australia most expensive country in the world for international studies

Australia most expensive country in the world for international studies

Australia most expensive country in the world for international studies

Updated 20 August 2013, 11:38 AEST

Australia is now the most expensive country on the planet for international students according to banking giant HSBC. With many parents back home footing the bill, some international students are under growing pressure to succeed.

On average an international student in Australia can expect to pay US$38,000 a year while a student in the United States should budget US$35,000 while in the U.K it'll cost about US$30,000. These figures take into account the combined costs of tuition and living expenses.

The higher financial burden hasn’t seemed to dampen the enthusiasm for Australian based studies with Australia remaining one of the most popular locations for international students.

Many international students are under enormous parental pressure because parents are bearing the full brunt of the financial burden.

Commercial Cookery student Neal Wang, who studies at William Angliss College in Melbourne, says he is lucky his Chinese based parents are paying his tuition and rent but it’s come at a price. “My parents actually sold a house to afford to send me here“, he told Radio Australia.

Economists predict a drop in the Australian dollar will help reduce the costs of education in Australia for foreigners with HSBC suggesting the dollar may drop as low as $0.86 in the fourth quarter of 2013. 

International students are allowed to work up to 20-hours per week to help fund the costs of their living and study expenses, although some students told Radio Australia they’re forced to work cash-in-hand to boost their revenue.

Not so Indonesian hospitality student Vebrina Hadi whose parents foot the bill for her tuition, rent and further living expenses.  But at 25 she says "I'm ashamed I still receive financial help from my family”. 

Vebrina’s Indonesian based parents are paying $9,700 per semester for their daughter’s tuition fees and share the costs of a $1,500 per calendar month one-bedroom apartment that Vebrena shares with another student. Vebrina has previously graduated from a degree in Communications/PR in Indonesia but is in Australia to pursue her dream of working in a restaurant.

There are more than 400,000 international students currently in Australia. 

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