Monetary Factors to Consider While Pursuing MS Degree in USA

One of the best countries to get your Master’s degree is the U.S. This is because it has plenty of world-renowned universities and educational institutions that offer excellent Master of Science programs. However, it can be daunting for any person who has just graduated and only starting out in his career to enroll in these programs. This is mainly because of the often high tuition fees involved. Read, Top 5 myths every student heard about scholarship.

The Dilemma of International Students

Of course, if you’re a student coming to the U.S. from abroad, you are at a greater disadvantage since there are other expenses that you have to be mindful of. If you’re going to consider everything, you also have to consider factors such as your Visa, flight expenses, application in an MS program, and your cost of living for the entire duration of your stay in the country, among others.

With all of these considered, you’ll find what really occupies the vast majority of your expenses is your tuition, with your daily living expenses coming to a close second. When determining the latter, you also have to pay strong attention to the state you intend to stay as cost of living really does vary in each state. Of course, you’ll also have to be mindful of the scenario that you’ll be without an income for a minimum of 2 years, assuming you won’t be able to find a source of funds during your entire life as a full-time student.

This is why if you’re planning to acquire your MS in the US, you have to have a holistic approach to your budgeting plan. What’s important is for you to ensure that everything would be covered once you start attending your program.

Not All Degrees are Equal

When considering your possible tuition expenses, it has to be made clear beforehand which program you’re planning to enroll to. While there are average tuition fees attributed to most U.S. universities, it won’t take long for you to know that there are degrees that are cheaper than others. There are a lot of factors that come into play here. Nonetheless, a lot of it hinges on your actual degree and your discipline, as well as the University of your choice. The most costly disciplines are often in the fields of Engineering, Medicine, Business, and Computer Science.

Did you know that most MS tuition fees in the US are comparatively cheaper than a lot of MBA degrees? That’s why if you’re planning to save the maximum, an MS degree would certainly be an optimal choice, cost-wise.

Cost of Tuition Fees in Top-Ranked US Universities

The only way to gain a good inkling of what costs you can expect to have as far as your potential tuition is concerned is to rely on generalization and averages. A lot of the best universities in the US are, understandably, expensive. That is if they’re compared to other universities in the said country. Of the 5 that are consistently in the top ranks, Harvard University is noticeably offering cheaper tuitions than its counterparts. Its average tuition fee is $25,000 per year. In fact, its average tuition fee is actually cheaper by as much as half of the other following institutes. University of Chicago, Yale University, Princeton University, and Columbia University charge fee in the $40,000 to $50,000 per year range.

Better, Less Expensive Options

If you really want to cut your tuition fee by half (or even more than that amount), then you should consider the below universities in America. These are well-known for their very affordable tuition fees. Good examples are Marshall University and California State University Northridge. The latter has a tuition fee average of only $8,000 per year. While the former doesn’t depart too much with an average of $11,000 per year. Other options you can consider are Depaul University and the University of Maryland.

You should also not overlook scholarships and grants. This is because they’re practically easier to get for anyone who is willing to embark on graduate studies. Engineering programs are worth highlighting since they’re known to receive generous funding. The Fulbright Foreign Student Program is one of the best institutions you can rely on if you are in need of financial assistance for your MS degree. Don’t hesitate to exhaust all your options to attain your noble goal of higher education. Consider reading, Watch out before applying loan for your Studies in Abroad.

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