How much does it cost to study ?
Depending upon which college you chose and what course you are aiming for, the cost can vary a lot. The biggest component is the tuition but depending on which city you chose, the living cost can significantly vary. Below is a comparison chart for understanding the cost of education in US
Cost of Graduate Program (Masters)
|Name||US News Ranking -2013||Tuition per year (2012-2013)|
|University of California(Los Angeles )||24||$12,692 in-state$35,570 out-of-state|
|Massachusetts Institute of Technology (MIT)||6||$41,770Student Activity fees : $280|
|North Eastern University||56||$47,160|
|University of Texas||46||$9,792 in-state$33,060 out-of-state|
Cost of doing Graduate Program (MBA)
|Name||US News Ranking||Tuition per year|
|MIT Sloan School of Management||4||Summer : $13,920 Fall : $30,920 Spring : $30,290|
Cost of doing Graduation
|Name||Course||Tuition per year (2012)|
|MIT||Undergraduate program||$41,770Student Activity fees : $280|
|Stanford University||Undergraduate program||$42,690|
In state Education : This applies to residents of that state for e.g. if you are a resident of state of California and have a Green Card or citizen of USA, then you qualify for in state tuition fees.
This fees is not applicable to International students.
Total Cost of Education
We talked about the education cost but that does not include the total cost. You have to factor your travelling, stay, food , insurance and travel.
If you do not plan to cook and would like to have both the meals outside, this could be an average of $16/day expense.
|Tuition (average/year)||$40000 – $55000||$25000 – $44000|
|Travel *||$100 – $900||$100 – $900|
|Health Insurance||$65 -$200 per month||$65 -$200 per month|
|Lodging **||$500 – $800 per month on sharing basis||$500 – $800 per month on sharing basis|
|Food||$200 – $600 per month||$200 – $600 per month|
|Miscellaneous(phone, internet, transportation, etc)||$200 – $400 per month||$200 – $400 per month|
|Books and Supplies||$1000 – $2000||$1000 – $2000|
* Public transportation is not available in most cities so you will have to own or share a car. If you are in a city of Boston and live along T route, the monthly pass for unlimited travel is $70. Not all cities have this kind of facility.
**Some universities have their own apartments which are much for e.g. Northwestern university in Chicago. You might also consider dorms offered by some universities.
A good post on Cost of doing Masters in USA