Study smart: weighing the cost of overseas education

Real cost of an overseas degree goes beyond tuition and rankings—it's about long-term value

- Anil Poste

For thousands of Indian students considering postgraduate (PG) education abroad, the dream often comes with a hefty price tag and a complicated set of decisions.

Whether you're aiming for a STEM (science, technology, engineering and mathematics) degree in the US or a management course in Germany, understanding the total cost of education—including tuition, living expenses, and other less obvious factors—is essential for making a smart financial and academic choice.

Here's how to go about it.

US is the most expensive

The United States remains one of the most expensive destinations for a PG education. A two-year STEM degree in the US averages $100,000, factoring in tuition ($32,000 a year) and living expenses ($18,000 a year). Management courses are even pricier at about $116,000 for the same duration.

Students heading to the United Kingdom can expect to pay around $58,500 for an 18-month PG course in either STEM or management, while in Australia the total cost ranges from $58,500 for STEM to $63,000 for management degrees of a similar duration.

Germany is the most budget-friendly option. With near-zero tuition (around $600 a year) and modest living costs of $12,200 a year, a two-year PG course costs roughly $25,600. Singapore offers one-year programs, with costs ranging from $33,500 for STEM to $38,500 for management.

"Families need to think beyond just tuition," said Mayuresh Kini, co-founder of Zinc Money, a fintech company focused on providing financial solutions for families planning overseas education for their children.