Singapore has a lot to offer students from India who want to study abroad. The short distance and relatively lower dollar add to the many benefits of Singapore's world-class education system. There are even more reasons to study in Singapore, with the two largest and oldest universities, the Nanyang Technological University and the National University of Singapore, ranking among the top universities in the world. The cost of studying in Singapore is essentially classified into three subcategories, as indicated by several articles:
· Tuition Fees
· University Fees/ Costs
· Cost of Living in the country
Tuition Fees
Tuition fees vary significantly across different university categories, as in all nations. In practice, top universities in Singapore would have substantially higher tuition fees than lesser-known universities. Furthermore, Singapore's polytechnics, which issue certificate diplomas, are less expensive. For example, the average annual tuition expenses for a bachelor's degree in engineering at leading colleges such as NTU and NUS are over S$ 30,000. A student who chooses to attend a private university, such as PSB Academy, will have to pay around S$21,000 in tuition fees for one year.
The same level of distinction is available for master's programs as well. MBA programs at some of the world's most prestigious universities cost around $60,000. Let's briefly examine some of them and their MBA tuition fees
As can be seen, while the top three MBA programs in the country have expensive tuition fees, the same degree at a lesser-known university such as Nanyang Institute of Management costs nearly one-third of the same.
In addition, it is crucial to note that the pricing structure for Foreign Universities with campuses in Singapore remains the same as designed by the University's home center. As a result, a student may not save much money on tuition.
University Costs
The components of university costs are numerous and diverse. They broadly include :
· Application Fees
· Student Development Fees
· Service Fees
· Student Transport Pass
· Other charges
The more prominent universities, like NUS and NTU, which include boarding facilities, may have such charges added as well, but we would overlook them here because they only apply to the cost of living.
The university charges between S$ 400 and S$ 800 each month, to give you an idea. This could be higher for more prominent universities and lower for smaller ones.
Cost of Living
Many individuals feel that studying in Singapore is less expensive since tuition is lower, which we have discovered is not the case. But what about the country's living expenses? It is also not less. The country ranks among the world's most expensive cities. Prices have risen steadily due to the high level of urbanization and the highly capitalized economy. Despite concessions for student amenities and transportation, it is still a consistent price. The table below provides an overview of the basic costs:
In conclusion, studying in Singapore is not necessarily less expensive than in other well-known nations. It saves money that most master's programs, particularly MBAs, are one-year programs. In this sense, cost of studying in Singapore is less expensive than studying in other well-known study abroad destinations such as the US and the UK.
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