Pursuing a Masters in Science (MS) degree in Australia is an attractive option. World-class universities, research opportunities, and post-study work benefits make the educational journey worthwhile. The approximate cost of studying MS in Australia ranges between AUD 25,000 to AUD 55,000 per year. These costs include tuition costs, Australian student visa fees costs, living expenses, health insurance, and other essentials. Students can fund their education through scholarships, part-time jobs, or education loans. Let’s explore the costs involved and discuss ways to make studying in Australia affordable.
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Tuition Costs of Studying MS in Australia
The cost of pursuing an MS in Australia varies depending on the university, field of study, and location. The average tuition for MS programs ranges from AUD 25,000 to AUD 50,000 annually. However, specific fields have their fee structures.
- Engineering: AUD 35,000–AUD 50,000 per year
- Computer Science: AUD 30,000–AUD 45,000 per year
- Data Science: AUD 28,000–AUD 45,000 per year
- Biomedical Sciences: AUD 35,000–AUD 55,000 per year
These programs are highly valued due to the global recognition of Australian universities and the cutting-edge research opportunities they offer.
University-Specific Tuition Costs
Each university offers unique facilities, renowned faculty, and diverse research programs, making them popular choices for Indian students. Some of Australia’s top universities for MS programs charge the following tuition fees-
| University | Annual Tuition Fees (AUD) |
| University of Melbourne | 39,000 to 50,000 |
| Australian National University | 35,000 to 48,000 |
| University of Sydney | 38,000 to 52,000 |
| Monash University | 32,000 to 48,000 |
| University of Queensland | 34,000 to 45,000 |
Also Read: Check here the differences between a real and fake 50-dollar bill in Australia. Know the security features of the new and old currency notes.
Additional Costs of Studying MS in Australia
In addition to tuition fees, international students pursuing an MS in Australia must consider various supplementary expenses. These costs ensure students can access university facilities, maintain required health coverage, and process applications.
| Expense Type | Estimated Cost (AUD) | Details |
| Laboratory/Material Fees | 1,000 to 5,000 annually | Applies to science and engineering courses. |
| Student Services Fee (SSAF) | 300 to 400 annually | Covers non-academic student services. |
| Health Insurance (OSHC) | 500 to 700 per year | Mandatory for international students. |
| Application Fees | 50 to 125 per university application | Paid during the application process. |
Laboratory/Material Fees
For certain courses, especially in science, engineering, and healthcare, universities charge laboratory or material fees. These fees cover the cost of lab maintenance, equipment, and materials required for coursework. The range varies from AUD 1,000 to AUD 5,000 annually, depending on the complexity and requirements of the course.
Student Services and Amenities Fee (SSAF)
The SSAF is a mandatory fee charged by Australian universities to support non-academic services such as student counseling, career services, and recreational activities. The fee typically ranges from AUD 300 to AUD 400 per year.
Overseas Student Health Cover (OSHC)
Health insurance is compulsory for international students in Australia. OSHC ensures access to medical services during their stay. The cost depends on the provider and the coverage period, averaging AUD 500 to AUD 700 per year.
Application Fees
When applying to Australian universities, students pay a non-refundable application fee per institution. These fees typically range from AUD 50 to AUD 125, depending on the university.
Ways to Fund the Cost of Studying MS in Australia
Studying MS in Australia can be expensive, but there are several ways to secure funding. From education loans to scholarships, students have multiple options to reduce financial burdens. Several Indian banks and financial institutions offer education loans specifically designed for international students pursuing MS programs. Besides, many Australian scholarships for Indian students can significantly reduce the cost of education.
Education Loans
Popular Indian Banks like SBI, Bank of Baroda, ICICI Bank, and others offer education loans at attractive interest rates. You can repay them in EMIs and fund your higher education.
| Provider | Loan Amount (INR) | Interest Rate | Repayment Period | Details |
| State Bank of India (SBI) | Up to 1.5 crore | 11.45% p.a onwards | Up to 15 years | Offers Global Ed-Vantage Scheme. |
| HDFC Credila | No upper limit | 10.25% p.a to 12.75% p.a | Flexible | Covers tuition and living expenses. |
| Avanse | Up to 1 crore | 14.25% p.a | Up to 12 years | Provides 100% funding with no margin. |
| Bank of Baroda | Up to 1.5 crore | 9.15% p.a to 10.20% p.a. | Up to 15 years | Covers airfare and study equipment. |
| InCred | Up to 1 crore | 11.75% p.a to 14% p.a | Flexible | Specializes in unsecured loans. |
Scholarships to Study MS in Australia
| Scholarship Name | Coverage | Eligibility Criteria |
| Australia Awards Scholarships | Full tuition, travel, and stipend | Based on academic merit and country of origin. |
| Destination Australia Scholarships | AUD 15,000 per year | For students studying in regional Australian campuses. |
| Research Training Program (RTP) | Tuition and living expenses | Open to high-achieving postgraduate research students. |
Also Read: Check here all about how much bank balance is required for an Australia student visa. Know the documents required & the minimum amount.
How to Budget for Your MS Program in Australia?
Budgeting for your MS in Australia is essential for managing expenses effectively. By preparing thoroughly, you can make the most of your experience without financial stress. Here’s how you can budget nicely-
- Research your university’s tuition fees, typically ranging from AUD 30,000–50,000 annually, depending on the course and institution.
- Plan for AUD 20,000–25,000 annually for accommodation, food, and transport.
- Account for health insurance (AUD 500–700), student services (AUD 300–400), and course-related expenses.
- Consider education loans from Indian banks, Australian lenders, or scholarships like Australia Awards and Destination Australia.
- Divide expenses across rent, utilities, groceries, and leisure, keeping track of your spending.
- Use apps like Frugal to compare prices at different supermarkets. Look for discounts and buy in bulk when possible.
- Take advantage of student discount cards that offer benefits and discounts on transportation, entertainment, and dining.
- If you are short on funds, you can learn how to transfer money from India to Australia. This will help you cover additional expenses without any worry.
Now, follow the popular budgeting method is the 50-30-20 rule-
- 50% Needs: Allocate half of your budget to essential expenses like rent and groceries.
- 30% Wants: Spend 30% on non-essential items such as dining out or entertainment.
- 20% Savings: Save the remaining 20% for emergencies or future expenses.
This was all about the costs of studying MS in Australia. To learn more about education loans, the best bank accounts for students, forex, banking experience for global students or international money transfers, reach out to our experts at 1800572126 to help ease your experience with studying abroad.
FAQs
Tuition fees for MS programs in Australia range from AUD 30,000 to AUD 50,000 annually, depending on the university and course.
No, tuition fees vary based on the program; for example, Engineering courses may cost around AUD 35,000–50,000, while Data Science costs about AUD 28,000–45,000.
In addition to tuition, expect to pay for health insurance (AUD 500–700), student service fees (AUD 300–400), and application fees (AUD 50–125).
Yes, scholarships like the Australia Awards, Destination Australia, and university-specific grants can help cover tuition and living costs.
Yes, international students can work up to 40 hours per fortnight during semesters and unlimited hours during holidays, which can help cover living expenses.
Living expenses typically range from AUD 20,000 to AUD 25,000 annually, depending on the city and lifestyle.
Some additional costs include lab fees (AUD 1,000–5,000) and costs for textbooks and materials, depending on your program.
You can finance your studies with education loans from Indian banks, Australian lenders, or by securing scholarships.
Popular education loan providers in India include HDFC Credila, Axis Bank, and State Bank of India, while Australian banks like Commonwealth Bank also offer loans to international students.
No, you can pay tuition fees in installments, typically at the beginning of each semester, but this depends on the university’s payment structure.
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