How Much Should Parents Budget for Studying Abroad?
Planning a budget is one of the biggest concerns for parents preparing to send their child to study abroad. Beyond tuition fees, families should also budget for accommodation, living expenses, health insurance, student visa fees, travel costs, and other essential expenses before departure.
To help families plan with confidence, One Education has compiled answers to the most frequently asked questions about study abroad costs, financial planning, and scholarships. Our expert guidance will help you estimate expenses, manage your budget, and prepare financially for studying in Australia or the United Kingdom.
Last updated: July 2026
The Total Cost of Studying Abroad
When planning to study abroad, many families focus primarily on tuition fees. However, tuition is only one part of the overall cost. To avoid unexpected expenses and plan your finances with confidence, it is important to consider all the costs associated with studying overseas.
Here are the main expenses to include in your budget:
- Tuition fees
Tuition fees are usually the largest expense and vary depending on the country, university, and course. Degrees such as medicine, engineering, and business may have higher tuition fees than other programmes. It is also worth exploring scholarship opportunities that could help reduce the overall cost.
- Accommodation
Students can choose from a range of accommodation options, including university residences, private rentals, or homestays. Each option offers different costs, facilities, and living experiences, so it is important to choose one that suits both your budget and your child’s needs.
- Living expenses
Living costs typically include food, transport, mobile phone and internet bills, personal expenses, and social activities. These costs can vary significantly depending on the city. Larger metropolitan areas often have a higher cost of living than regional or smaller cities.
- Overseas Student Health Insurance
International students are generally required to have health insurance as part of their student visa requirements. The type of insurance required depends on the destination country, so this cost should be included in your budget from the outset.
- Visa and application expenses
In addition to tuition fees, families should budget for costs such as student visa application fees, medical examinations (where required), document translations, and other expenses related to the application process.
- Travel costs
Remember to include the cost of return flights, transport to and from the airport, and any local travel expenses when your child first arrives before settling into their accommodation.
- Study materials and equipment
Depending on the course, students may need to purchase textbooks, a laptop, specialist software, or other equipment required for their studies.
- Emergency funds
It is always wise to set aside a financial buffer for unexpected situations, such as medical expenses not covered by insurance, emergency travel, or other unforeseen costs during your child’s time abroad.
✅ Plan for the total cost, not just tuition
One of the most common budgeting mistakes is looking only at tuition fees. A more accurate approach is to calculate the total cost of studying abroad, including living expenses and all other associated costs throughout the entire programme. This provides a clearer picture of the overall investment and helps families choose a university that is financially sustainable.
At One Education, we help students and parents prepare a comprehensive study abroad budget. We provide guidance on tuition fees, accommodation, living expenses, health insurance, travel costs, pre-departure expenses, and scholarship opportunities. We also compare universities based on overall affordability, helping families make informed financial decisions with confidence.
Ultimately, careful financial planning gives both parents and students greater peace of mind, allowing students to focus on making the most of their study abroad experience without unnecessary financial stress.
When planning a budget for studying abroad, many families focus on tuition fees and accommodation. However, there are several additional expenses that are easy to overlook. If these costs are not included in your financial plan from the beginning, they can significantly increase the overall cost of studying overseas.
Some commonly overlooked expenses include:
- University application fees – While many universities waive application fees, some institutions still charge a fee for processing applications.
- Visa and document costs – These may include student visa application fees, medical examinations, passport renewal, passport photos, document translation, and certification where required.
- Health insurance – Many countries require international students to have approved health insurance before they can obtain their student visa or travel.
- Travel expenses – In addition to airfare, consider airport transfers, excess baggage fees, and other transportation costs when your child first arrives.
- Initial settling-in costs – Students often need to pay accommodation deposits and purchase essentials such as bedding, kitchenware, winter clothing, a SIM card, and other everyday necessities. These upfront expenses can be substantial.
- Books and study materials – Some courses require specialised textbooks, software, laboratory equipment, or other materials that may not be included in tuition fees.
- University activities – Orientation programmes, student societies, field trips, and other university activities may involve additional costs, but they can play an important role in helping students settle into university life and build new friendships.
- Exchange rate fluctuations – Changes in currency exchange rates can affect the actual cost of tuition and living expenses, particularly for families making payments over several years.
- Emergency funds – It is wise to keep a financial reserve for unexpected situations, such as medical expenses not covered by insurance, emergency travel, or other unforeseen costs.
It is also important to remember that living costs can increase over time. If your child is studying in a major city, expenses such as rent, utilities, and everyday living costs may rise each year because of inflation or changes in the local housing market. When planning your budget, consider the estimated costs for the entire duration of the programme – not just the first year.
At One Education, we help students and parents build a realistic financial plan that covers every stage of the study abroad journey. We estimate expenses before departure, during study, and beyond, taking into account the university, city, lifestyle, and individual circumstances. This comprehensive approach helps families prepare with confidence and avoid unexpected financial surprises while studying overseas.
📝 Related Blog: Study Abroad Costs Parents Often Overlook: A Complete Guide to Budget Planning
One of the most common questions parents ask before sending their child overseas is, “How much will it cost?” The answer depends on more than just the country. Your overall budget will also be influenced by the city, university, course, and your child’s lifestyle.
In general, the cost of studying abroad can be divided into two main categories: tuition fees and living expenses.
- Tuition fees
Tuition fees vary depending on the country, university, and field of study. Programmes such as medicine, dentistry, and engineering often have higher tuition fees than many other disciplines. It’s also worth exploring scholarship opportunities, as many universities offer financial assistance to international students, helping to reduce the overall cost.
- Living expenses
Living expenses are often underestimated but can make up a significant portion of the overall budget. These typically include:
- Accommodation
- Food and groceries
- Transport
- Mobile phone and internet
- Personal expenses
- Social and recreational activities
Even within the same country, living costs can vary considerably from one city to another.
For example:
- Major cities such as Sydney, Melbourne, and London generally have higher accommodation and living costs. However, they also offer excellent transport links, a wide range of amenities, vibrant student communities, and extensive part-time employment and networking opportunities.
- Regional and mid-sized cities, such as Adelaide, Perth, Canberra, Gold Coast, and many cities outside London in the UK, often have a lower cost of living while still offering high-quality education and an excellent student experience.
Choosing a city should therefore involve more than simply comparing costs. It is equally important to consider your child’s chosen course, preferred lifestyle, career goals, and the opportunities available in each location.
📌 Don’t forget the additional costs
When calculating the total budget, families should also include other essential expenses, such as:
- Overseas student health insurance
- Student visa and application fees
- Airfares
- Study materials and equipment
- Initial settling-in costs
- An emergency fund for unexpected expenses
Planning for these costs from the beginning provides a much more realistic picture of the total investment required.
At One Education, we help students and parents compare tuition fees, living costs, and the overall cost of studying across different countries and cities. We also recommend universities and scholarship opportunities that align with your family’s budget and your child’s academic and career goals, helping you make informed financial decisions with confidence.
Ultimately, the best study destination is not simply the cheapest or the most expensive—it is the one that offers the right balance of educational quality, affordability, lifestyle, and opportunities for your child’s future success.
Budgeting is one of the most important parts of planning to study abroad. While tuition fees are a major expense, families should also consider accommodation, living costs, health insurance, and other day-to-day expenses to gain a realistic understanding of the total investment required.
Although costs vary depending on the university, city, course, and the student’s lifestyle, the following estimates provide a useful guide for annual expenses.
| Study Destination | Estimated Annual Budget* |
| 🇦🇺 Australia | AUD 70,000–95,000 (approximately THB 1.5–2 million) |
| 🇬🇧 United Kingdom | GBP 27,000–55,000 (approximately THB 1.2–2.5 million) |
*These figures are approximate and include both tuition fees and typical living expenses. Actual costs will vary depending on the university, programme, city, accommodation choice, and exchange rates.
The estimated budget generally covers:
- Tuition fees
- Accommodation
- Food and groceries
- Local transportation
- Overseas student health insurance (where required)
- Everyday personal expenses
Costs vary between cities
Living costs can differ significantly depending on where your child studies.
- Major cities, such as Sydney, Melbourne, and London, generally have higher accommodation and living costs. However, they also offer excellent public transport, a wide range of student services, and extensive part-time work and networking opportunities.
- Regional and mid-sized cities, including Adelaide, Perth, Canberra, Gold Coast, Nottingham, Leicester, and Newcastle, often provide a more affordable cost of living while still offering high-quality universities and an excellent student experience.
Choosing a study destination should therefore involve more than comparing costs alone. Families should also consider the student’s preferred course, lifestyle, career aspirations, and the opportunities available in each location.
✨ Remember to budget for pre-departure expenses ✨
Before your child begins their studies, there are several one-off costs that should also be included in your financial plan, such as:
- Student visa application fees
- Medical examinations (where required)
- Airfares
- Study materials and equipment
- Initial settling-in expenses
- An emergency fund for unexpected situations
These costs are often overlooked but can make a noticeable difference to your overall budget.
At One Education, we help students and parents create a personalised financial plan based on their chosen university, course, and city. We compare tuition fees, living costs, and scholarship opportunities, providing families with a clear picture of the total cost of studying abroad. Our goal is to help you choose a university that not only offers an excellent education but also fits comfortably within your family’s budget.
Scholarships and Financial Planning
Yes. International students have access to a wide range of scholarships in many popular study destinations, particularly Australia and the United Kingdom. However, eligibility depends on several factors, including the student’s academic results, qualifications, the type of scholarship, and the university they apply to.
Importantly, scholarships are not only available to top-performing students. Many universities offer different types of scholarships for international students, including:
- Automatic scholarships – These are awarded automatically to eligible students when they apply for admission, with no separate scholarship application required.
- Merit-based scholarships – Awarded to students who meet the university’s academic achievement criteria.
- Faculty or programme-specific scholarships – Available to students enrolling in particular schools, faculties, or degree programmes.
- Competitive scholarships – Higher-value scholarships that may require additional documents, such as a personal statement, portfolio, references, or an interview.
Scholarship values vary considerably. Some provide a partial tuition fee discount, while others cover a substantial portion of tuition fees. The amount awarded depends on the university’s scholarship policy and the student’s qualifications.
When comparing universities, it is important not to focus solely on the size of the scholarship. Instead, consider the overall cost of studying after the scholarship has been applied, together with the quality of the course, the location, and how well the university supports your child’s academic and career goals. In some cases, a university offering a smaller scholarship may still be the more affordable option because of lower tuition fees or living costs.
It is also worth remembering that many scholarships have limited places and application deadlines. Some close several months before the academic intake begins, so planning early can significantly improve your child’s chances of receiving financial support.
At One Education, we help students identify scholarship opportunities offered by our partner universities and assess which awards they may be eligible for. We also recommend universities that match each student’s academic profile, career goals, and family budget, while assisting with the application process and required documentation to maximise their chances of receiving a scholarship.
Ultimately, the best scholarship is not necessarily the largest one – it is the one that makes studying at the right university both achievable and affordable while supporting your child’s long-term academic and career aspirations.
No. Lower tuition fees do not necessarily mean lower-quality education. A university’s tuition fees are influenced by many factors, including its location, the type of programme, campus facilities, institutional funding, and government support. As a result, the cost of studying is not always a reliable indicator of academic quality.
For example, universities located in major cities such as Sydney, Melbourne, and London often have higher tuition fees and living costs than universities in regional or smaller cities. This difference is largely due to location and operating costs rather than the quality of teaching. Many regional universities offer excellent academic standards, modern facilities, and strong student support while being more affordable.
Likewise, some universities with comparatively lower tuition fees have particular strengths in areas such as teaching quality, industry partnerships, student support, graduate employability, or specialist programmes. For many students, these advantages may be more valuable than attending a more expensive or higher-profile institution.
Rather than comparing universities based on tuition fees alone, families should consider a range of factors, including:
- The quality and reputation of the specific course, not just the university as a whole
- Accreditation and academic standards
- Internship, work-integrated learning, and graduate employment opportunities
- The city, cost of living, and overall student experience
- Scholarship opportunities and the total cost after financial aid
- How well the university aligns with the student’s academic interests, career goals, and personal preferences
At One Education, we help students and parents evaluate universities from every perspective—not just cost. We compare course quality, tuition fees, scholarships, living expenses, graduate outcomes, and career opportunities to help families identify the option that offers the best overall value.
Ultimately, the best university is not always the most expensive or the least expensive—it is the one that provides the right balance of academic quality, affordability, student support, and opportunities for your child’s future success.
Tuition Fees and Payment Options
Once your child has received an offer from a university and decided which institution to attend, there are several important steps to complete before applying for a student visa. In most cases, students are required to accept their offer and pay a tuition deposit or the first instalment of tuition fees before the university issues the documents needed for their student visa application.
Although the exact requirements vary between universities, the process typically follows these steps:
- Receive the offer and carefully review the offer letter, including any conditions attached to the admission.
- Accept the offer before the university’s acceptance deadline.
- Make the required payment, which may be:
- A tuition deposit
- The first semester’s tuition fees
- Or, in some cases, the full year’s tuition fees, depending on the university’s policy.
- Receive the official enrolment documents required for the student visa application once the university has confirmed your acceptance and payment.
Students should aim to complete these steps several months before their course begins. This allows enough time to apply for a student visa, arrange accommodation, book flights, and prepare for departure.
📌 What should parents check before making payment?
Before transferring any funds, it is important to read the offer letter carefully and confirm:
- The payment deadline
- The amount due
- The university’s payment instructions and terms
- The refund policy, including what happens if a visa application is refused, deferred, or the student is unable to enrol
Because every university has its own policies and deadlines, families should ensure they fully understand the payment conditions before making any commitment.
At One Education, we support students and parents throughout the post-offer process. We help explain the offer conditions, remind families of important payment deadlines, provide guidance on tuition fee payments, liaise with universities where needed, and advise students before they submit their student visa application. Our goal is to ensure every step is completed accurately and on time, giving families confidence throughout the enrolment process.
Ultimately, making tuition payments on time and understanding the university’s requirements can help keep the admission and student visa process running smoothly, reducing the risk of unnecessary delays before your child begins their study abroad journey.
When comparing universities, it is important to look beyond tuition fees alone. The total cost of studying abroad includes many different expenses, and a university with lower tuition fees may not always be the most affordable option overall.
To make a well-informed decision, families should compare the following costs:
- Tuition fees for the entire duration of the programme
- Accommodation costs, including both university residences and private housing
- Living expenses, such as food, transport, mobile phone bills, and personal spending
- Health insurance and any compulsory university or student service fees
- Study materials, including textbooks, specialist software, or equipment required for the course
- Scholarships or tuition discounts that the student may be eligible for
- Programme duration, as shorter degrees may reduce the overall cost of tuition and living expenses
📌 Consider the city as well as the university
The location of the university can have a significant impact on the total cost of studying. Two universities may charge similar tuition fees, but if one is located in a city with a much higher cost of living, the overall difference in expenses over several years can be substantial.
When comparing universities, it is helpful to calculate the total estimated cost of the entire degree, including both tuition and living expenses, rather than looking at annual tuition fees alone.
Think about long-term value
Cost is important, but it should not be the only consideration. Families should also evaluate the long-term value of each option by considering factors such as:
- Internship and work-integrated learning opportunities
- Graduate employment outcomes
- Industry partnerships and career support
- The quality and reputation of the specific course
- The overall student experience and support services
A university that costs slightly more may provide stronger career opportunities and better long-term value, while a lower-cost option may be the right choice if it offers an excellent programme that aligns with your child’s goals.
At One Education, we help students and parents compare universities from every financial perspective. We prepare personalised budget plans that take into account tuition fees, living costs, scholarships, programme length, and other essential expenses, allowing families to understand the true cost of each option before making a decision.
Ultimately, the best value is not simply the university with the lowest tuition fees—it is the one that offers the right balance of affordability, academic quality, and future opportunities for your child’s success.
Financial Requirements for Student Visas
Receiving an offer from a university is only one part of the student visa process. Most countries also require applicants to demonstrate that they have sufficient financial resources to cover the cost of studying and living while overseas.
The exact financial requirements vary depending on the destination country and the student’s circumstances.
🇦🇺 Australia
For the Student Visa (Subclass 500), applicants must be able to demonstrate that they have sufficient funds to cover:
- Tuition fees
- Living expenses
- Travel costs
- The expenses of any eligible family members accompanying them (if applicable)
The Australian Government requires applicants to provide evidence that they can meet the financial requirements for their first year of study, including tuition fees, living expenses, and travel costs. Acceptable evidence may include personal savings, an approved education loan, a scholarship, or proof of income from a parent or financial sponsor, depending on the applicant’s circumstances.
🇬🇧 United Kingdom
For a UK Student visa, applicants generally need to show that they have enough money to cover:
- The first year’s tuition fees (or any outstanding tuition fees stated on the Confirmation of Acceptance for Studies (CAS)); and
- Living expenses, which currently are:
- £1,529 per month (for up to 9 months) if studying in London
- £1,171 per month (for up to 9 months) if studying outside London
Applicants relying on personal or sponsor funds must normally ensure that the required money has been held in the account for at least 28 consecutive days before the visa application is submitted. Financial documents must also meet the UK Home Office‘s current validity requirements.
📌 Do we need to pay everything before applying?
Not necessarily. Many parents assume they must pay all tuition and living costs before submitting a visa application, but this is not usually the case. The key requirement is to provide acceptable evidence that sufficient funds are available, in line with the destination country’s immigration rules. The type of financial evidence accepted and the specific requirements vary by country and individual circumstances, so it is important to follow the latest official guidance.
Remember to budget for additional visa-related costs
In addition to meeting the financial evidence requirements, families should also budget for other expenses associated with studying abroad, including:
- Student visa application fees
- Medical examinations (where required)
- Overseas Student Health Cover (OSHC) for Australia or other required health-related charges
- Airfares
- Initial settling-in expenses after arrival
These costs are separate from the financial evidence required for the visa application.
At One Education, we guide students and parents through every stage of the student visa process. We provide advice on preparing financial evidence, checking supporting documents, and ensuring applications meet the latest visa requirements for the destination country. Our team also helps families understand the financial commitments involved, making the visa process as smooth and stress-free as possible.
Ultimately, careful financial preparation is an important part of a successful student visa application, helping families demonstrate that students are well prepared for both their studies and life abroad.
Working While Studying
Yes. International students in Australia and the United Kingdom are generally allowed to work part-time while studying, provided they hold a valid student visa that includes work rights and comply with the visa conditions in their destination country.
Working part-time can be a valuable part of the study abroad experience. It allows students to earn extra income, gain practical work experience, improve their English language skills, and develop confidence while living in a new country. However, the primary purpose of studying abroad should always be education, and part-time work should be viewed as a supplement rather than the main reason for choosing to study overseas.
Common part-time jobs for international students include:
- Working in cafés, restaurants, or hospitality
- Retail and supermarket roles
- Customer service positions
- On-campus jobs, such as library assistants or Student Ambassadors
- Roles related to the student’s field of study, where opportunities are available
Students must always comply with the conditions of their student visa and the employment laws of the country where they are studying. These rules include limits on the number of hours students can work during teaching periods, as well as different arrangements during university holidays. As visa regulations can change, students should always check the latest government guidance before accepting employment.
Parents should also understand that part-time earnings are typically intended to help cover day-to-day living expenses, such as food, transport, and personal costs. In most cases, students should not expect part-time work to cover the full cost of their tuition fees or overall study expenses.
Maintaining a healthy balance between study and work is equally important. Working too many hours can affect academic performance, wellbeing, and the overall university experience. Students should ensure that employment supports their studies rather than distracts from them.
At One Education, we provide guidance on international students’ work rights, visa conditions, and practical aspects of living overseas. We also help families understand typical living costs and prepare a realistic financial plan, so students can begin their study abroad journey with clear expectations and confidence.
Ultimately, part-time work can enrich your child’s study abroad experience, but academic success should always remain the top priority.
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