Cost of Studying in USA | How Much Does it Cost to Study Abroad in the USA | ChetChat

Cost of Studying in USA | How Much Does it Cost to Study Abroad in the USA | ChetChat

August 14, 2019 100 By Stanley Isaacs


Hey, everyone and welcome to this inaugural ChetChat’s master class. We’re Going to do an entire series so please, subscribe to the channel and interact with Me in the comment section right under this video and also at facebook, twitter and instagram at @chetchat101 and share this master class with your friends and family. As you know i like to reply to each one of you Personally so keep writing in. Now this masterclass is about the cost of studying in the united states of America for an international student and we’re going to talk about four main aspects out here. The first is the Undergraduate tuition fee the second i’m gonna give you a listing of the cheapest to the most expensive Universities in the U.S Three we’re, gonna talk, about public universities versus private universities and the fourth aspect of this class will Be what does all this mean for me in indian rupees, what, is the cost per course What is the effective cost per hour and all of that so let’s talk, about the basics first. In this video We are only, going to cover the undergraduate tuition fee component, we will do subsequent videos where We will talk, about the cheapest or most expensive, mba law or medicine degrees. We’ll talk about scholarships, financial aid cost of living. I will also
Give you tips on how to save cost and how to earn money But all that is going to come up in the future classes this video is concentrating entirely on? Undergraduate tuition fee now, why, is that important because About 70 percent of your total cost is the tuition fee component so once we’ve got this covered We know roughly, where? We are going with the cost the second thing i want you to keep in mind is that certain universities Escalate the cost from year to year so the cost numbers that i’m gonna give you in this video today are roughly around 2017 – 2018 numbers so check carefully, when you’re applying to the university Also i want you to be very careful, when you’re applying to make sure you’re choosing universities, which have fixed costs Versus those that have Escalating costs. So be careful of the fine print. The third thing i want you to bear in mind is that We will be naming certain colleges and universities today but, by no Means are we recommending any of them in the program today. This class is all about costs We are not really recommending any universities today but on what basis have we chosen these universities that We are going to be talking about today. We’ve picked the list of the most popular universities that international students Usually pick when they go to the united states and in no way is this meant to be an exhaustive list Because as you know the united states has 4,500 degree granting universities and institutions so there’s No, way i can cover all of them i may have left out your favorite university or college so please excuse Me for that and there’s a last thing i want to say, is that, we have covered in this master class Four Year 120 credit undergraduate courses. There are also cheaper two year community college Undergraduate courses available but we’re not talking About that in this master class because international students usually, don’t pick those courses, okay! So here goes. The cheapest Universities in the u.s.. In terms of tuition fee per annum in dollars the first list, is between 20,000 to 30,000 dollars per annum and the names are University of buffalo SUNY state university of new york Binghamton new, york stony brook, university Iowa State university university of minnesota minneapolis minnesota university of north dakota university of colorado denver arizona, state university university of utah University of florida, florida state university and ohio state University now as you notice and look at this list Did you notice the word ‘state’ coming in quite often in the names of the universities. Yes you guessed Them right the cheapest universities in the u.s. Tend to be public universities now, what are public universities as the name suggests They, are funded by the state funds versus the private universities which are funded By, self owned sources now state universities tend to be cheaper but they
Have two kinds of tuition fee and i want you to look out for them when You open, the website there is an in-state tuition fee, which is meant for children Whose parents live in that state and pay taxes in that state now That is really very cheap But talking about international students there is a second column usually in their website which talks about out-of-state tuition This is a column that, we need to read? Because this out-of-state tuition is the one that is applicable to international students as Well as to american citizens that live, outside the state. Now you must be wondering how, do i find out Which one is a public university and which one is not now, there are two ways of going, about this one the more obvious One the name state appears in the name for example ohio state university florida state university Michigan state university, and that’s really easy But there are certain state universities that do not carry the name for example University of washington seattle university of wisconsin-madison are, also state universities but do
not carry the word state so i suggest open the website look at the ‘about’ section of that college and Almost in the first or the second line, you will find a mention there that this is a state-funded university now having put that aside let’s look at the second list, which is Universities that have tuition fee between $30,000 and $40,000 and some of the names that i’m going to take today are purdue university, georgia institute of technology Also known as georgia tech texas a&m university university of illinois university of wisconsin-madison university of texas at austin penn state university and university of illinois urbana-champaign Now at this point i, also, want to tell you to be very careful About names that are confusing For example there is a michigan state university and there is a university of michigan there is a florida state university And there is a university of florida There is a cornell college and there is a cornell university there is a berkeley college there’s a University of california berkeley and there’s, also berklee college of music so please be very careful When you’re, picking up the names and listening to the names that i’m giving to you in this episode Now Let’s look at a third list, which is the tuition fee between? $40,000 and $50,000 per annum and this is a mixed list, you’ll find, some very, high-end private schools mixed with Some very expensive state schools so let me take you through a short list of the colleges that have this tuition fee bracket Harward university MIT stanford university columbia university illinois institute of technology university of michigan ann arbor university of california berkeley university of california san diego Michigan state university, university of california los angeles Also known as ucla and University of washington seattle so as you saw the mix between the private and the public universities in this bracket of 40,000 to $50,000 per annum tuition fee only i’m repeating We are not talking about cost of living right now and now let’s look at the most expensive schools in the u.s. typically tuition fees of $50,000 and above per annum for the four-year program, and here’s the list university of pennsylvania, also called Upenn cornell university, johns hopkins university carnegie mellon university boston university, new york University university of southern california and duke university a general rule of thumb however to keep in mind is that Sometimes the most expensive universities are the most generous when it comes to financial Aid but, we will talk about scholarship and financial Aid later but i want you to keep this in mind so you, don’t worry too much, about the sticker price at Some of the more expensive private universities. Another thing that We want to keep in mind is that this tuition fee is a general number that i’ve given? you
for the four-year program but it also changes depending on which Classes and which courses you pick so typically if you pick design music management law or medicine related courses at the undergraduate level yes i know most of these tend to be Postgraduate courses but if you pick some of these courses at an undergraduate level your tuition fee could rise because These courses are more expensive than the arts and science courses available typically at an undergraduate college Now coming to the last section of this masterclass we’re going to do, some number crunching we’re Gonna, analyze what exactly, do all these numbers mean to us now the tuition fee as, we saw could range from $20,000 per annum to $50,000 per annum if i extend this over a four-year program it becomes $80,000 all the way up to $200,000 now if i convert this into indian rupees and i’ve taken roughly a 63 rupees to $1 Number this comes to anything between 50 lakhs at the lower end to 1.25 crores at the upper end now this is only tuition, fee like i said We haven’t taken into account cost of living but just as a ballpark Typically cost of living ranges between $20,000 per annum to $30,000 per annum and the rule of thumb is the cheaper the colleges for the Tuition fee the cheaper typically is a cost of living and vice versa so if i look at cost of living it’s $20,000 per annum into four $80,000 at the lower end and $30,000 into four which is a $120,000 at the upper end so if i try to add these two numbers at The lower end i’ve got an $80,000 tuition and an $80,000 cost of living $160,000 is probably My lowest cost of staying in the u.s.. For a four-year undergraduate program at the upper end i had $200,000 tuition and $120,000 cost of living that’s $320,000, now What does it mean in indian rupees so it could be anything from One crore at the lower end to two crores at the upper end and that’s the reason i’m doing this video for you To tell you that if you
choose your college correctly you could have the money that you pay in that for your span of time So now let’s look at this number and understand further, what, does it mean for us i said to you remember it’s a four-year? 120 credit program that, we are looking at so a 120 credit program is typically 40 courses because, each course is typically a 3 credit course now forty courses over four years means you do ten courses per year Each year’s divided into two semesters so your workload is about five courses per semester Now that’s workload. Coming to cost if you are doing 40 courses let’s take the upper end you Had an upper end tuition fee of $200,000 again i’m keeping the cost of living aside for the moment now $200,000 if i break that up into 40 courses my cost of doing, each individual course is $5,000 now that at 63 is about 3.15 lakh of rupees Now i do understand US offers you the flexibility to choose your courses the way you? Want to to pick up whichever area You’re! Interested in but i just want you to keep in mind that every single course that you pick costs you Rs. 3.15 lakhs so be very careful you’ve got 40 courses choose them wisely So let’s drill down a little more each course typically has 45 to 48 Contact Hours let’s make that 50 and if it’s 50 contact hours, and each course, was costing me $5,000 every hour is costing me $100 so every time you miss a class you know, what you’re paying six thousand three hundred Rupees, so that’s the end of the master class for today thank you for watching till the end and stay tuned because We are following this up very quickly with the cost of doing a postgraduate degree cost of living Scholarship, financial, aid tips to save cost and also how to earn while studying in the us as Also all of this for all the other countries that are important to you so keep watching, subscribe to me a ChetChat and follow, me at facebook twitter and instagram @chetchat101 and happy watching