Budgeting Tips for Nepali Students Studying in Australia

Study in Australia from Nepal

Studying in Australia from Nepal is a dream for many students seeking world-class education and global opportunities. Australia is renowned for its high-quality universities, diverse culture, and innovative teaching methods. Australia has become a top destination for higher education with a wide range of courses, affordable living, and strong Nepali student communities.

Students can choose from various programs from engineering to business and health sciences that offer excellent career prospects. If you’re a Nepali student looking to study abroad, Australia can provide the perfect mix of quality education, safety, and post-study work opportunities, making it an ideal choice for your academic journey.

Understanding the Costs of Studying in Australia

Studying in Australia offers excellent academic opportunities but comes with financial responsibilities. Here’s a breakdown of the essential costs for Nepalese students:

1. Tuition Fees

The cost of tuition depends on the degree level and institution. For Example:

• Bachelor Degrees Degrees: AUD 20,000 to 45,000 per year
• Master Degrees: AUD 22,000 to 50,000 per year
• Doctoral Degrees: AUD 18,000 to 42,000 per year

Vocational courses and English language studies tend to be less expensive, ranging from AUD 300 per week for language courses to AUD 22,000 annually for vocational training.

2. Living Expenses

Living expenses vary based on location. On average, students can expect to spend between AUD 15,000 and 25,000 annually for basic needs such as accommodation, food, and transport. For example, rent in cities like Sydney and Melbourne is higher, with shared apartments costing approximately AUD 1,000 to 1,130 per month.

3. Other Charges

Students should consider:

• Visa fees: AUD 630
• Health Insurance (OSHC): AUD 500 to 1,000 annually
• Miscellaneous costs: Including utilities, entertainment, and transportation.

Notes for Dependent Applications

For students applying with dependents, you must account for additional living expenses and health insurance. The visa application fee for dependents is also required, and your financial ability to support your dependent during the initial phase is a significant part of the visa process.

Note: Don’t forget your taxes, which are evaluated according to your income and living.

Budgeting Tips for International Students

Here are some budgeting tips for international students while studying in Australia.

1. Create a Budget: Use tools like MoneySmart budget planner to create a personalized budget that tracks your income, expenses, and savings. The Study Australia Cost of Living Calculator is also helpful for estimating your living costs before you arrive in Australia.
2. Find Deals and Discounts: Take advantage of various discount platforms and apps:
   • First Table: Offers 50% off meals at participating restaurants during early dining times.
   • Honey: Automatically searches for discount codes while shopping online.
   • ClassPass: Let’s you try activities like yoga or gym sessions at a lower cost.
   • UNiDAYS: Provides student discounts for a wide range of popular brands.
   • Shopback: Gives cashback on purchases at many stores.
   • The Happiest Hour: Finds you the best bar and pub specials in your area.
   • Groupon and LivingSocial: Offer discounts on experiences, events, and services.
3. Save on Eating Out: Look for weekly food and drink specials at restaurants, avoid dining out on public holidays to escape extra charges, and consider BYO (bring your own) wine options to save money on drinks.
4. Smart Grocery Shopping: Plan your meals in advance, shop in bulk to save on groceries, and take advantage of discounts available at supermarkets.
5. Transportation Savings: Use student discounts for public transport, and opt for walking or biking to save on travel costs when possible.
6. Part-time Work: Working part-time can supplement your income and provide valuable experience. Check the visa requirements for international students to see the number of hours you’re allowed to work.
7. Enjoy Free and Low-cost Entertainment: Look for free events or activities at universities, or use discounted student tickets for movies, concerts, and other entertainment.

Following the above plans and plotting things at your own pace can help you settle comfortably in Australia.

Scholarships and Financial Aid

Studying in Australia offers numerous scholarships and financial aid opportunities for international students. Here are some of the main options:

1. Australian Government Scholarships

• Australia Awards Scholarships: Provides full tuition, living allowances, and travel costs.
• The Destination Australia Program: Encourages international students to study in regional Australia.

2. University-Specific Scholarships

• Australian universities offer a range of merit-based scholarships tailored to international students:
• These scholarships vary based on academic excellence, field of study, and other criteria.

Note: For further detailed information on university-based scholarships and aid, visit the AusStudies Scholar program.

3. Research and Postgraduate Scholarships

• Scholarships focused on STEM fields and research-intensive areas, with funding for advanced studies.

4. Support from Organizations

• Nepalese Australian Association (NAA): Assists Nepali students in settling and succeeding academically in Australia. Non-Resident Nepali Association (NRNA): Provides additional support and resources for Nepali students in Australia.

5. Additional Financial Aid Options

• Several states, private organizations, and institutions offer grants, loans, and bursaries to support international students.

Part-time Work Opportunities

International students with a student visa can work up to 40 hours per fortnight during term time and unlimited hours during semester breaks. Part-time jobs help offset living costs and gain work experience, with common roles in retail, hospitality, administration, and tutoring. The minimum wage in Australia is around AUD 20 per hour. Internships and volunteering in fields related to students’ studies also offer valuable experience and networking opportunities, enhancing career prospects post-graduation.

Conclusion

In conclusion, managing your budget effectively is essential for Nepali students studying in Australia. By planning your expenses, using discounts, and making smart financial decisions, you can enjoy a comfortable lifestyle while focusing on your studies.

For personalized guidance on financial planning, scholarships, and other aspects of studying in Australia, AusStudies is a reliable resource. They offer expert advice on various topics and help you explore scholarship opportunities from top Australian universities, ensuring you make the most of your educational journey.