The cost of university - from tuition fees to living expenses

Tuition fees are high in US while Switzerland is an expensive place to live

Summer holidays are around the corner for UAE students, with the academic year set to end by June 30, according to the Ministry of Education.

But for those graduating high school, thoughts may be turning towards university. It is a big milestone and many families start planning for it early in their child's life. The first thought in their minds revolves around one thing: money.

College education costs

Planning for university gets more elaborate when students aim to study abroad, especially in countries with costly tuition fees or a high cost of living.

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The most obvious cost of university is the yearly tuition fees.

The US is one of the countries with the highest tuition fees, ranging from $19,900 to $49,900 a year, according to Counselling Point Training & Development in Dubai. That makes budgeting tight when you consider that half of US households had an income of less than $80,000 in 2023, according to the US Census Bureau.

Although tuition fees are the primary concern, accommodation and living expenses should also be considered when running the numbers. Yearly accommodation expenses in countries such as the US, UAE and Australia can start at $8,000, and in Switzerland at $24,000.

The UAE is one of the countries with the highest share of international students at tertiary level, with 69 per cent in 2023, but Australia (27 per cent) and Switzerland (19 per cent) have seen steady growth.

There are some financial aids and scholarships available for international students. Although they are limited in the number of beneficiaries and amount covered, they are still viable options.