Canada vs Australia: Study Abroad Costs for Indian Students

Studying abroad is a transformative experience that comes with financial planning at its core. For many students, choosing between Canada and Australia as their study destination involves understanding the various costs from tuition fees to living expenses. In this comprehensive guide, we'll delve into the key expenses associated with studying in both countries to help you make an informed decision.

Tuition Fees

Canada:

Canada has established itself as a welcoming destination for international students with competitive tuition fees across its diverse range of institutions. On average, undergraduate programs average fees CAD 22,061 (INR 13,47,927.1)* per year, depending on the program and institution. Graduate students will pay on an average CAD 38,081 (INR 23,26,749)* annually (Statistics Canada, 2023). Public universities generally offer lower tuition fees compared to private institutions, making education accessible for international students seeking quality education at a reasonable cost. Below are some popular courses offered in Canada along with their average tuition fees (upGrad, 2024):

Popular Courses Information

Popular courses	Duration	Average annual tuition fee in CAD	In INR *
BSc Nursing	2-4 years	33,000	20,16,300
LLM	1-2 years	20,000	12,22,000
MSc Nursing	2 years	44,000	26,88,400
MEng Aerospace and Engineering	3 years	38,000	23,21,800
MEng Industrial Systems and Engineering	2 years	45,000	27,49,500
MBA	1-2 years	38,000	23,21,800
MSc Business Management	1 year	29,000	17,71,900
MA Media Studies	2 years	35,000	21,38,500

Australia:

Australia, renowned for its high standard of education and vibrant lifestyle, generally commands higher tuition fees compared to Canada. Undergraduate programs can range from AUD 20,000 (INR 11,26,600)* to AUD 45,000 (INR 25,33,850)** per year, with higher costs for specialized fields such as medicine or engineering. Similarly, graduate programs vary widely, typically costing between AUD 22,000 (INR 12,39,260)* to AUD 50,000 (INR 28,16,500)** per year (Shiksha, 2024). The tuition fees may differ significantly between universities and states, with prestigious institutions typically charging higher fees. Here are several popular courses offered in Canada along with their average tuition fees (upGrad, 2024):

" Popular Courses Information

Popular courses	Duration	Average annual tuition fees in AUD	In INR**
B.Eng Civil Engineering	3 years	35,000	19,71,550
BMed + MD	5-6 years	28,000	15,77,240
LLM	1 year	28,000	15,77,240
MBA	2 years	60,000	33,79,800
MSc Information Technology	2 years	30,000	16,89,900
MSc Data Science	1-2 years	45,000	25,34,850
MSc Computer Science	1.5 – 2 years	35,000	19,71,550
MA Applied Economics	2 years	25,000	14,08,250

Comparison:While Canada offers slightly lower average tuition fees across most programs, Australia's education system boasts a diverse array of courses and globally recognized degrees.

Visa

Canada:

For Indian students, Canada offers a straightforward visa process with options for study permits that are generally easier to obtain. The Embassy fee for a Canada study visa is CAD 150 (INR 9,165)* for Indian Students (Shiksha, 2024). Canada also provides pathways to permanent residency through programs like the Express Entry system, which considers factors such as education and work experience.

Australia:

Australia is known for its streamlined visa process. The Australian government has announced a significant fee hike for international students, raising the cost from AUD 710 (INR 39,994)** to AUD 1,600 (INR 90,128)** effective immediately starting July 1st, 2024 (Times of India, 2024). Australia also offers clear pathways to permanent residency through skilled migration programs.

Living Expenses

Canada:

The cost of living in Canada varies depending on the city and lifestyle preferences. On average, international students should budget CAD 15,000 (INR 9,16,500)* per year for accommodation, food, transportation, and personal expenses (upGrad, 2024). Larger cities such as Toronto and Vancouver generally have higher living costs, while smaller cities and rural areas offer more affordable options for students. As of now, students applying for a Canadian study permit must demonstrate financial capability of CAD 20,635 (INR 12,60,798.5)* for living expenses in addition to covering tuition and travel costs (Economic Times, 2023).

Australia:

Australia, known for its scenic landscapes and multicultural cities, generally has a higher cost of living compared to Canada. On average, international students should budget AUD 18,000 (INR 10,13,940)** per year for living expenses, including accommodation, groceries, transport, and leisure activities (upGrad, 2024). Cities like Sydney and Melbourne are particularly known for their higher living costs, driven by demand for housing and amenities. The cost of accommodation in Australia, particularly for shared rooms or dormitories, has seen a significant increase of nearly 15% in the last quarter. This data, shared exclusively with ET by University Living, a global student housing marketplace, highlights the rising living expenses for students in Australia. This upward trend in accommodation prices shows an importance of careful planning and budgeting for living expenses when considering studying in Australia. Here is what you need to know about AUD.

Comparison: While Canada offers a more affordable cost of living in most regions, Australia's living expenses can vary significantly between cities and regions, influenced by local demand and lifestyle choices.

Healthcare

Canada:

International students studying in Canada are eligible for provincial health insurance plans, which provide basic medical coverage. Certain provinces like Alberta, British Columbia, Manitoba in Canada provide provincial health coverage to specific international students either at no cost. In such instances, international students typically need to apply directly to the province for coverage.

In cases where provincial health insurance is not available, students are often required to purchase private insurance. Many Canadian schools facilitate this process. Institutions in provinces without provincial health coverage for international students may mandate enrollment in specific health plans, while others may offer optional coverage plans. The coverage varies by province, and students may need to pay additional fees for certain healthcare services.

Australia:

International students in Australia are required to purchase Overseas Student Health Cover, which provides basic healthcare coverage during their stay. The cost of coverage ranges from AUD 596 (INR 33,572.68)** to AUD 770 (INR 42,374.1)** for 12 months of single cover (OSHC Australia, 2024). OSHC helps cover the cost of hospital and medical treatments, ensuring students have access to essential healthcare services throughout their studies.

Comparison: Both Canada and Australia prioritize the healthcare needs of international students, offering comprehensive insurance plans that cater to medical emergencies and routine healthcare services. Let the health of Earth be taken care of, follow this blog to minimize footprint while traveling.

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Working Opportunities

Canada:

Effective from May 01, 2024, international students in Canada are restricted to working a maximum of 24 hours per week, down from the previous allowance of over 20 hours per week for off-campus employment (Business Today, 2024). Working while studying not only helps offset living expenses but also provides valuable work experience and enhances employability after graduation.

Australia:

Similarly, Starting from July 1, 2023, holders of student visas are limited to working 48 hours every fortnight during their course sessions. This restriction roughly translates to about three days of work per week. You can enjoy generous work rights, allowing you to work part-time during the semester and full-time during university holidays. The opportunity to work provides financial independence and enriches the student experience in Australia.

Comparison: Both countries offer favorable work rights for international students, encouraging them to gain practical experience while studying abroad.

Currency Exchange Considerations

When planning to study abroad, it's crucial to consider currency exchange rates and fees. We're reputable forex exchange providers authorized by the Reserve Bank of India (RBI) for secure and competitive exchange rates. Supreme Forex offers currency exchange and outward money transfer services, catering to both international travelers and students. We provide competitive rates and a seamless experience as per prescribed RBI guidelines. To know more of our services, click here.

Conclusion

Choosing between Canada and Australia for your study abroad journey involves weighing various factors, including tuition fees, living expenses, healthcare, and work opportunities. While Canada generally offers lower tuition fees and a slightly more affordable cost of living in most regions, Australia provides a vibrant multicultural environment and high-quality education hubs across its major cities.

Whichever country you choose, careful financial planning and utilizing trusted forex exchange services will ensure a smooth transition and successful academic experience abroad. Contact us to learn more about our specialized services for international students and how we can assist you with your currency exchange needs.

Frequently Asked Questions

Q. How Long Do I Need OSHC?

A. You must have OSHC for the entire duration of your studies in Australia, including any additional time spent in the country after completing your studies. Failure to maintain OSHC coverage could result in the cancellation of your visa.

Q. Is there any difference between the Canadian & Australian climate?

As a student planning to study abroad, it's important to note that Canada experiences cold winters with significant snowfall, especially in cities like Toronto and Montreal, while its summers are generally cool and pleasant. In contrast, Australia has warm temperatures year-round in its northern tropical regions and a temperate climate in the south. These climate differences between Canada and Australia can significantly impact your experience depending on where you choose to study.

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Remarks:

* Rates are converted on the basis of 1 CAD = 61.1 INR as per on 06th July, 09:11 am UTC given by Google Finance.

** Rates are converted on the basis of 1 AUD = 56.33 INR as per on 06th July, 09:12 am UTC given by Google Finance.

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