Australia has emerged as a hotspot for MBA among the Indians, especially the students hoping for a quality education, cosmopolitan ambiance, and better job opportunities in this country. But the cost and the existing scholarships are things that must be considered when making a plan. This blog covers expenses involved in doing an MBA in Australia for Indian students, the scholarships offered for MBA and how you can have a successful study abroad experience.
Cost of MBA in Australia for Indian Students
The fee charged for an MBA program depends on the university, the program, whether full time or part time, and the city. Here’s a breakdown of the major expenses for an MBA in Australia for Indian students:
1. Tuition Fees
- According to the current trend, MBA in Australia costs vary from AUD 40,000 to AUD 85,000 per annum.
- Established universities like the University of Melbourne, Australian National University or the University of Sydney may take a bit higher fees for tuition.
2. Living Expenses
- Overseas living expenses are expected to cost between AUD 21,000 and AUD 30,000 per year, which involve accommodation, food, transport and other utilities.
- Accommodation through sharing of rooms or accommodations within campus is another way of cutting costs.
3. Other Expenses
- Health Insurance: AUD 500–800 per year in the cost of Overseas Student Health Cover (OSHC).
- Travel and Visa: For the student visa, it shall cost AUD 630 + other travel expenses.
- Study Materials: About AUD 500 – AUD 1,000 per annum for books and other resources.
MBA in Australia with Scholarships
There are many Australian scholarships that are available in the universities to relieve the economic stress of the international learners. Here are some top scholarships available for Indian students pursuing an MBA in Australia for Indian students:
1. Australia Awards Scholarships
Funded by the Australian Government, these scholarships cover tuition fees, living expenses, and airfare.
2. Global Leaders Scholarship
Administered by the Australian Government, these scholarships provide for tuition, living cost and airfare expenses.
3. Melbourne Business School Scholarships
Organized by the University of Queensland, this MBA in Australia with scholarship is aimed to financially support international students of the MBA program.
4. Monash International Leadership Scholarship
This scholarship only offers a tuition fee of 100% to international students with excellent academic performances.
5. AGSM Scholarships
The Australian Graduate School of Management (AGSM) offers merit-based scholarships with an amount from AUD 5,000 to full tuition for MBA students.
Benefits of Pursuing an MBA in Australia
- Global Recognition: Australian universities are recognized all over the world, hence the recognized university degrees.
- Multicultural Environment: MBA in Australia for Indian students see the world and acquire friends across the globe.
- Work Opportunities: The developed world’s leading country, Australia, grants a Post-Study Work Visa (PSWV) of up to 4 years.
- High ROI: To sum up, graduates from MBA Australian programs may count on the average remunerations of or more AUD 100,000 per year.
Tips to Make Your MBA Journey Affordable
- Apply Early: In many cases, early applications are lucky enough to be given better scholarships.
- Choose universities wisely. Of course there are tuition fees, which should be compared with offered scholarships.
- Work Part-Time: MBA in Australia for Indian students can even work until 48 hours within a fortnight during the study time of students.
- Budget Effectively: This post is on expenses and how it is advisable to plan and cut costs, such as by sharing living accommodation.
Conclusion
An MBA in Australia for Indian students is a significant investment that promises excellent returns in terms of career opportunities and personal growth. Indian students can manage costs effectively by applying for scholarships, working part-time, and budgeting wisely. With the right planning and determination, you can turn your dream of studying abroad into reality.
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