Careful financial planning is necessary before starting a trip to study at Monash University in Melbourne, Australia. Prospective students must comprehend the varied expenditures related to living expenses and tuition. A thorough summary is provided below to assist you in estimating the necessary financial outlay.
Tuition Fees
Tuition fees at Monash University vary depending on the course and study level. For international students, fees are typically calculated based on a full-time study load of 48 credit points per year. To determine the exact tuition fees for your chosen program:Monash UniversityWikipedia+2Monash University+2Monash University+2
- Visit Monash University’s Find a Course page.
- Select your desired course.Monash University+1Monash University+1
- Ensure you indicate “I am an international student” at the top right corner.Monash University
- Scroll down to the ‘Entry Requirements’ section to find detailed fee information.Monash University
Please note that faculties reserve the right to adjust course fees annually, with changes typically applied on January 1 each year. Monash University
Cost of Living
Living expenses are a significant part of your budget. Monash University estimates that a single international student requires approximately AUD 30,000 to AUD 45,000 per year for living expenses. This estimate includes:Monash University
- Accommodation:
- On-campus: AUD 330 to AUD 399 per week. Monash University
- Shared rentals (Clayton area): AUD 170 to AUD 350 per week.Monash University
- Homestay: AUD 275 to AUD 430 per week.Monash University
- Private rental: AUD 420 to AUD 500 per week.Monash University
- Other Weekly Expenses:
- Groceries and eating out: AUD 150 to AUD 500.Monash University
- Utilities (gas, water, electricity): AUD 40 to AUD 80.Monash University+4Monash University+4Monash University+4
- Phone and internet: AUD 20 to AUD 46.Wikipedia+3Monash University+3Monash University+3
- Public transport: AUD 25 to AUD 50.Monash University
- Car (after purchase): AUD 150 to AUD 300.Monash University
- Entertainment: AUD 150 to AUD 300.
These figures are estimates and actual expenses may vary based on personal lifestyle and choices.
Additional Costs
Beyond tuition and basic living expenses, consider the following potential costs:
- Overseas Student Health Cover (OSHC): Mandatory health insurance for international students.
- Course Materials: Textbooks, lab equipment, and other supplies.
- Student Services and Amenities Fee (SSAF): A fee that supports non-academic services.Monash University
- Transportation: Costs associated with daily commuting or travel.
Financial Assistance
Monash University offers various scholarships and financial aid options to support students:
- Alumni Discount: Eligible alumni who have completed their undergraduate degree at Monash University receive a 10% discount on graduate courses. Monash University+1Monash University+1
- Family (Sibling) Discount: If you and your sibling are both full fee-paying students at Monash, one of you could get a 10% discount on course fees. Monash University
- Scholarships: Monash offers a range of scholarships for both domestic and international students. Explore the scholarships page for opportunities that may suit your circumstances.Monash University
Planning Your Budget
When planning your budget:
- Calculate Tuition Fees: Use the Find a Course tool to determine exact tuition costs.Monash University
- Estimate Living Expenses: Factor in accommodation, food, transportation, and personal expenses.
- Consider Additional Costs: Account for health insurance, course materials, and other fees.
- Explore Financial Aid: Investigate scholarships, discounts, and other financial assistance options.
By thoroughly researching and planning, you can gain a clear understanding of the financial requirements for studying at Monash University and make informed decisions about your education journey.