MBA Tuition Fees and Cost of Living

One has to consider their financial status to pay off tuition fees for MBA in USA before planning to take admission into Business college. There are two main areas where you should focus while planning to study MBA in USA Universities. MBA tuition fees and cost of living in USA both are comparatively higher than any other country. The tuition for MBA programs in USA widely varies from state to state, types of institution and the course of study. Tuition fees for MBA in USA are the major expenses to consider before the choice of the state and institution.

MBA Tuition cost is based on the selection of two types of institution:

1. Private which are independent institutions.
2. Public which are State supported institutions.

Generally, tuition fees for International students at the public institutions do not include residential cost. Generally, public institution is usually less expensive than those of the private institutions. Also it is important to note that the cost of tuition fees of MBA program in USA does not necessarily gives the noteworthy quality of education as the course content are almost same throughout.

This can be explained more clearly from the following table:

The tuition fee varies from as low as $8000 per year for state institution and as high as $35000 per year for private institution.

Let us have a look how tuition fees are bifurcated:

GRE:
The GRE test is the mandatory test to be passed out before taking admission in MBA in USA. GRE test fee varies for the students giving test from various country of the World.

TOFEL:
TOEFL is the mandatory test to be qualified for the non English countries before taking admission into MBA program in USA. The total tuition fee of the TOFEL is around 130$.

Cost of Living:
The cost of living in USA also differs from state to state. The cost of living largely depends upon the type of accommodation place which the student chooses. The cost of living also depends on the off-campus and on-campus accommodation. Moreover, it also differs whether your school or college is located in the urban or rural areas. For example, North Dakota is the city with lowest cost of living in USA on other hand New York is the city with highest cost of living. Hence, the standard of living in USA differs from place to place. So, if a student can afford to live in North Dakota but in the same cost he may not survive in New York.

Expense on Housing Facilities:
In case of on-campus accommodation, you can lower down your cost if you choose the option to stay with your room partner. Students living in on-campus dormitory rooms have to pay $3500 to $6000 approx. per semester. On other hand, living along with a host family will cost approx. $400 to $700 per month. These costs may differ if they are offered meals. While that of a campus apartment, it would cost around $400 per month if the room and bathroom is shared with the other student. It would be $800 if a student demands for separate room or bathroom. Try to make your housing expenses not more than 20-25 percent of your total budget.

The other expenses to be considered by the international students are the money spent in buying grocery and utilities. You can cut down your meals expenses if you prefer to stock some food in your kitchen. This option is accepted by lot of the foreign students studying in USA to make their living economically. Let us see how the main expenses are split up in the following table:

From the above table, it is estimated that minimum $1000 per month will be is fixed cost for the foreign students living in US A.

Transportation:
Transportation charges are the other expenses which are taken into consideration while estimating the cost of living in USA. The total amount can vary according to public transportation, walking or riding along with a friend. Many students save their cost by choosing the means of walking or by purchasing a bicycle to go to the desire places.

Because of the above reasons, the government always checks the financial statement of the bank and other financial documents of the respective student before giving them Visa.

Many universities allow their students to work at on-campus and off-campus in order to earn their cost of living. Students who work at on-campus are paid salary from $5.15 to $15 per hour. Foreign students are allowed to work only for 20 hrs per week and 40 hrs per week at the time of summer. Students, who are willing to off-campus, can able to work only after completing 9months from their coming in USA.

If a student is provided any type of aid like TA, RA, Fellowship etc do not have to worry about the cost incurred in tuition fees. In University of Texas Arlington and Texas University in Dallas, you may find shortage of P/T jobs. Hence, students who wish to study in these universities should consider this factor and avail scholarships or adequate fund to study MBA. Some of the universities also provide tuition waiver or scholarships if the performance of 1st semester is good.