Universities in the United States have some of the highest tuition fees and living costs of any system in the world.
Cost of living while studying in the USA
Compared to every other country in the world, the US as a whole ranks as number 27 for cost of living.
That means the cost of day-to-day life (that’s everything from food to transport to rent) is significantly higher than in most Asian, African, and South American countries, as well as Australia, Japan, and a number of Scandinavian and European countries.
Accommodation costs vary widely depending on the type of accommodation students opt for: a shared dorm room will likely be considerably cheaper than a self-contained studio apartment, for instance, where they also have to pay for bills and food.
Of course, geographical location will be a huge factor here. Unsurprisingly, living in New York City will be considerably more expensive than in a small Midwestern campus town, for example.
Tuition fees for studying in the USA
Tuition fees at US universities range from $5,000 to $70,000, depending on the university in question.
For international students, university in the US can feel prohibitively expensive. For example, in 2017 the University of Michigan was charging out-of-state students just under $45,500 per year; factor in $11,000 for accommodation, $1,000 for book and then $2,500 for other personal expenses. Let’s round this up to an even $60,000.
It’s a lot of money. But all is not lost.
If your students are looking at the USA as an option for higher education, then many universities offer financial aid to students. For example, the National Center for Education Statistics reported that 44% of students received a grant from a US university in the academic year 2015/16, this increased to 82% when you also factor in federal/state aid, and student loans.
When applying to a US university, there are a number of different routes your students can take towards securing financial aid. Here are a few of the options on offer.