The majority of students consider attending an educational institution in the United States because of its reputation for having rigorous scholastic requirements. The degrees are recognized internationally, and the educational system is adaptable. But if you are applying for MiM then nothing is better than doing MiM in France. However, the expense of MS in the United States is the first item that comes to mind for most students. The United States of America is by far the most popular destination for foreign students who are interested in pursuing a master’s degree in another country.
Because a master’s degree in the United States typically requires two years of study, you will need to include the appropriate amount of time and money into your budget. Those considering pursuing an MS in the United States will be able to make more informed decisions as a result. When compared to the expense of getting a master’s degree in the United States, the cost of getting an MBA is much higher.
Tuition costs may vary from institution to institution and from state to state. It also depends on the path you want to take. You may see a list of institutions providing MS programs in the United States, along with their tuition costs and other information. Master’s programs in the United States are also eligible for funding. A scholarship may considerably cut your costs. In addition, students use student loans to fund their tuition costs.
A summary of the total expenses
Exam Fee for the Graduate Record Examination (GRE)
This is often the initial phase of your MS journey in the United States. This characteristic has always been the most popular since, like a poker face, nobody knows whether it will increase or decrease the probability of success. You must have an effective GRE preparation study strategy. The examination costs 205 USD. This exam would help you pursue MBA in the USA.
English as a Foreign Language Test (TOEFL)
While you MAY be able to skip the GRE when applying to institutions in the United States (certain universities may accept applications without the GRE), you cannot skip the TOEFL. It is comparable to a passport to enter the United States. If not at the time of application, then at least at the VISA interview, colleges require you to take a language competency examination. The examination fee is $170 USD (or INR 12,600).
Applying to American Universities
Application fees range between 50 USD (INR 3700) and 100 USD (INR 7400), with the former being the more popular. However, applications are incomplete without official test results (GRE and TOEFL) sent through ETS, which costs an additional 47 USD (GRE: 27 USD and TOEFL: 20 USD)
Other Costs During the Application Process
Now, this list may be lengthy and may vary significantly amongst applicants. Nonetheless, the typical costs in this category are as follows:
- a) Counseling: Applicants who believe a counselor can fill their shoes and get them into Stanford or Berkeley pay anywhere between Rs. 10,000 and Rs. We have considered the average to be 25,000 rupees.
- b) Transcripts on college letterhead (about 15 copies), Bank Statements (15), Affidavit (15) with the sponsor’s name (15), and delivery to the institution (major expenditure of the lot). This should not cost more than Rs. 12,000 in total.
Visa
Although cost is a significant element, it is crucial to understand the complete F-1 Visa Procedure. The VISA Cost is 160 USD (INR 11,840), followed by the SEVIS price, which is 200 USD. Once you obtain your I20 (formal document given by the institution stating your stay in the United States and the amount to be spent), you must pay the VISA Fee of 160 USD (INR 11,840) and the SEVIS fee of 200 USD (INR 14,800).
Price of living
Several variables affect the cost of living, including location, the number of roommates, and the size of the flat. The average monthly cost of living for a person is between $600 and $1,200. Consequently, the average cost of housing for a two-year master’s degree is $15,000.
Final Thoughts
Scholarships and grants are the most effective ways to finance your education. There are several choices for students, including financial assistance (to be mentioned during application submission). Colleges and institutions in the United States provide a variety of scholarships. Scholarship types and amounts vary depending on the institution to which an applicant has applied. The Hubert Humphrey Fellowship Program, AAUW International Fellowships, American University Emerging Global Leader Award, and the IEFA scholarship, among others, are among the most popular scholarships for which an Indian student may apply in order to study in the United States.
