We know costs and student finances are essential considerations when evaluating potential study destinations. You want to be sure you’re getting good value for your money and can afford your academic adventure. That’s why it’s important to research destinations offering an affordable cost of living and reasonable tuition fees. We guide you through some of the top affordable destinations for international students with value for money, quality education and a good student lifestyle.
Malaysia
If you’ve been considering studying in Asia, Malaysia would be a good choice. Firstly, it is home to a top 30 QS Best Student City, Kuala Lumpur. Secondly, Malaysia has five universities in the top 200 globally according to the QS World University Rankings 2024:
- Universiti Malaya (65)
- Universiti Sains Malaysia (137)
- Universiti Putra Malaysia (158)
- Universiti Kebangsaan (159)
- Universiti Teknologi Malaysia (188)
Malaysia is also home to branches of top-ranked Australian and UK universities, namely Monash University and the University of Nottingham.
Malaysia’s universities are also known for reasonable tuition fees. An average undergraduate degree will cost you between USD 3,000 to USD 6,000 per year. This can vary depending on the qualification, and be lower or slightly higher.
Another plus point for studying in Malaysia is the low cost of living. Kuala Lumpur is rated in the top 10 most affordable cities by QS, with student accommodation costs as low as USD 70 per month. It’s estimated to be about 60 per cent more affordable than London or Sydney. The monthly living costs in Malaysia average about USD 650 per month.
Discover the top 10 reasons for studying abroad.
Germany
One of the most popular study destinations in Europe is Germany. Why? The country is known for its high quality of life, reflected in the rating of two German cities in the top 10 globally for students by QS, Berlin and Munich. The country is known for innovation and thriving technology, engineering and chemical sectors.
Germany has some of the top-rated institutions in the world. As per the QS World University Rankings 2024, these include:
- Technical University of Munich (37)
- Ludwig-Maximilians-Universität München (54)
- Universität Heidelberg (87)
- Freie Universitaet Berlin (98)
If you are an undergraduate student or a PhD student, there are no tuition fees charged. Master’s degrees for students who didn’t study an undergraduate qualification in Germany are approximately USD 23,000 per year. To be eligible for free tuition, you need to qualify for a study and residence permit.
Germany also has a reasonable cost of living, at an average of about USD 12,000 per year. This does differ if you live in one of the bigger cities like Berlin, Hamburg or Munich, which tend to be more expensive.
Explore how to find a student lifestyle that suits you.
Austria
You may not immediately think of Austria when considering study destinations. But arguably, you should. This Central European nation places in the top five of the Global Peace Index, and is renowned for its historic culture, incredible scenery and high living standards. Its capital, Vienna, ranks first on the Economist's Global Liveability Ranking of cities worldwide, a list that it regularly tops.
The country also has several well-regarded, research-intensive universities. Five of these rank in the world’s top 300, according to the Times Higher Education World University Rankings 2024:
- University of Vienna (119)
- Medical University of Graz (201-250)
- Medical University of Vienna (201-250)
- Medical University of Innsbruck (251-300)
- TU Wien (251-300)
Even more impressively, you could study at one of these renowned institutions for a lot less than you might expect. For international students, both undergraduate and postgraduate tuition fees at public universities in Austria are capped at around USD 1,500 per year – and that includes all of those listed above. What's more, if you are from one of 50 selected developing nations – including Bangladesh, Nepal and Zambia – your tuition will be free.
Read more on the best student cities in 2023.
Taiwan
Known for its culture, quality healthcare, and high standard of living, Taiwan is increasingly making the shortlist looking for an affordable study destination. It is statistically one of the cheapest places to study globally, with tuition fees ranging between USD 2,500 and USD 5,000 per year.
Universities in Taiwan offer programmes in English, with over 150 on offer in the country. There are 40 institutions of higher learning in the country, with four in the top 300 globally, according to QS:
- National University of Taiwan (69)
- National Yang Ming Chiao Tung University (217)
- National Cheng Kung University (228)
- National Tsing Hua University (233)
If you’re wondering what the cost of living is like in Taiwan, you may be pleasantly surprised. It’s about 22 per cent cheaper than living in the USA and 17 per cent more affordable than the UK, with rent almost 52 per cent cheaper. You will need between USD 700 and USD 850 per month to cover your costs.
There you have it. Some of the most affordable countries to study in as an international student. You can continue your research by reading our guide to dealing with study abroad overload, the best universities in Europe, and how to compare universities.
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