How much will it cost to study in New Zealand?
New Zealand is undoubtedly a preferred destination for many aspiring to study abroad. The main reason is it offers a perfect balance of a progressive lifestyle and world-class education in a spectacular landscape amongst friendly people in a safe community. Prior research and planning are the keys to a successful migration. As part of the prior research done to study here, you also need to know what it costs to study in New Zealand.
Studying abroad is expensive. However, proper planning and smart budgeting can help you to manage your finances well, saving you from unwanted financial stress. The best part is that New Zealand has a vast range of courses to fit different interests and budgets.
Read on to know what are the major expenses you need to take care of while as a student in New Zealand.
How much do you pay for your course?
The tuition fee is set by the education providers. It varies with the study course and duration of the course. International students pay international student fees. According to Study NZ, tuition Fees for Bachelors's degree programs range between $22,000 to $32,000. Many bachelor’s degrees can be completed in three years. There are bachelor's degrees of four years too. As per the same source, tuition fees for postgraduate programs can range between $26,000 to $37,000. International PhD students pay the same as domestic PhD students, which is about $6,500 to $9,000 per year for most subjects. Subjects such as medicine and veterinary science will have higher fees. The tuition fees generally do not include the costs of books, stationery items, laptops, tools like an apron, uniform, etc. So, do keep some extra cash with you for these expenses.
What about insurance?
All international students are required to have health and travel insurance while studying in New Zealand. The insurance must be valid throughout the length of your student visa and period of study. This is mostly arranged by the education providers as they have tie-ups with insurance providers and is reflected in your offer letter. You can opt for a different insurance package through other approved independent insurance providers too. However, the insurance has to meet all the criteria set by the education provider which can be a lengthy and complex process as it goes through verifications and approvals. Hence, you will find it easier to go with the insurance arranged by your education provider.
What type of accommodation will be cheaper?
On arrival, you can check in to any of the affordable homestays or backpacker hostels which are very economical. On-campus accommodation is most expensive but comes with its own advantages. It is usually on a twin-sharing basis and can cost you anywhere between $180-$300 per week. A few of the pros of on-campus accommodations are saving energy on house hunting, being close to your peers and saving time to commute for your classes every day. Besides on-campus accommodations, you also have the option of an off-campus accommodation which can be living with a family or a flatmate or even renting a room all for yourself. The cost of off-campus accommodation comes at a reasonable rate of $110-$350 per week. You can even find places as cheap as $85 per week, which I wouldn’t recommend as they are often dingy. Most students prefer to stay in homestay accommodation as it includes most meals.
How much will you be paying for food?
The cost of food largely depends on the city where you reside and of course, your eating habits. As per NewZealandNow, the cost per week can vary from $59.50 to $114. Supermarkets do offer good discounts on groceries which you need to keep a tab on.
Your domestic transport options
Buses are the cheapest and most common form of public transport available for traveling between towns and cities. Bus fares start from around NZ$3.50 per trip. If you are moving from city to city, it can cost you upwards of $19. Some areas offer student concessions and there are monthly passes available which will work out cheaper for you for regular commutes. Ferries are popular for travel between the North and South Islands. The two major providers are InterIslander and Bluebridge, and fares start at NZ$55 for foot passengers. Train tickets start from around NZ$49 per person. The per kilometer fare for taxi services can range from $6 to $7. You can also opt for an affordable and convenient scooter ride for 43 cents per minute.
Keeping in touch with friends and family
You can opt for either a monthly account plan or a prepaid plan for your phone. The most popular providers are Vodafone, Spark and 2degrees. Individual pre-paid plans start from $19/4 weeks. Most areas have free Wi-Fi connectivity. You can also check for free Wi-Fi service with your accommodation provider.
The expenses that you have to bear while living in New Zealand depends on what part of New Zealand you are residing in and your lifestyle. As an international student, you must be able to show that you have available NZ$1,250 per month or NZ$15,000 per year. This money should be enough for a decent lifestyle as a student, without working. However, if you think you need more money, you always have the option to work as a student if you meet immigration criteria; up to 20 hours a week and full time during holidays.
It’s advisable to carry some extra cash of at least $3000 for sudden expenses and save as much as you can. Do remember, your primary goal is to study and earn your degree with flying colors.
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