Singapore is rapidly becoming a hub for international students who aspire to get a high qualification and better experience. With more than 7,000 multinational companies, low taxes rates, Singapore promises to provide a high-quality lifestyle. However, Singapore is also one of the most expensive cities in the world. Studying in Singapore has excellent value for students. Besides the cost of living in Singapore for students, it provides a chance to live in a diverse and friendly city, to receive an internationally recognised qualification, an opportunity to work experience in the global business.
So adequate budget planning is required if you are planning to study abroad. Make sure you plan out the budget to keep in mind the expenses like accommodation, food, medical and travel, and your tuition fee when calculating the estimated cost of living in Singapore.
Firstly let’s discuss the essential elements of the budget. The main factor that determines the tuition fee is the university and program you choose to study. Singapore’s public universities are a lot less expensive than many private and public universities overseas.
The average tuition fee for all education levels in Singapore is about SGD 20,000 (INR 1,082,220) per year, which means as an international student, you should have approximately SGD 800 (INR 43,288) per month to prepare for your cost of living in Singapore.
In general, it costs approximately SGD 8,000(INR 432,888) to SGD 9,000(INR 486,999) per year to study in a public university. However, this is the subsidised price. It costs around SGD 10,000(INR 541,110) or more for non-subsidized and non-Singaporean students. Some programs in the universities are subsidised by the government as well.
The Ministry of Education (MOE) of Singapore’s government offers a tuition subsidy for all students. International Students who want the government-subsidized program can apply for the Service Obligation Scheme to pay reduced tuition fees. Service Obligation Scheme allows international students to work in Singapore after graduation to repay the tuition.
The accommodation cost is about SGD 400 (INR 21,644) to SGD 800 (INR 43, 288). It also varies depending on the type of accommodation, location and the number of people sharing. In comparison, most universities offer on-campus housing called residence halls or student hostel. Whereas rooms in residence halls are available, on average monthly rent ranges from SGD 155 (INR 8,387) -SGD 800 (INR 43,288).
Most students opt for off-campus housing, i.e., stay in rented accommodation privately. For rented accommodation, the monthly rent will be approx. SGD 265(INR 14,339) per month, and you’ll also need to pay a deposit equivalent to one month’s rent when you move in that you’ll get back once you leave. Each student receives an SGD 15 (INR 811) subsidy for utilities, with any excess costs divided amongst the apartment students. Student Hostels offer single to four-bedded rooms and provide meals, laundry services, television and internet, and are generally priced at around SGD 140(INR 7,575) -SGD 440(INR 23,808) per month. Whilst prices of rental properties vary depending on the type of room and location, living in subsidised public housing will generally be your cheapest option. Privately rented flats will be your most expensive option, with rent usually starting at around SGD 1000 per month.
Student visa expenditure
For an international student (from visa-required countries) to apply for a student’s pass in Singapore, you will need to show your finical ability. The recommended amount to shown on the proof of financial knowledge is S$30,000 (INR 1,623,330).
In addition to your accommodation cost, you will need about S$400 to S$800, which may vary according to your lifestyle per month for other living expense. It is necessary to keep a check on your costs besides tuition fees, accommodation, and visa. You need to save some money aside for your grocery shopping, social activities, and emergencies. Carry your student card along all the time; you may get student discounts at restaurants, cinemas, museums, clothing shops, and others.
Transportation fares are charged per distance travelled. If you choose to travel in an air-conditioned carriage on the metro, then it might be slightly costly for you. As a student, you are entitled to a 50% discount on all fares. Apply for a student travel concession card. The monthly unlimited bus and train rides are starting from just $41 (INR 2,218).
Supermarket and grocery shopping is relatively affordable than other expenses. However, prices may vary between supermarket chains.
To sum up, Singapore is almost as same as any other abroad destination when it comes to the cost of living. Students can work for up to 16 hours a week in Singapore during their classes. And can earn a decent earning which may provide a decent living.
You can plan your smart budgeting with the help of our guide.
Can I study abroad in Singapore?
Before deciding to move abroad, one must always keep that budget in the plan. While some cities in Singapore are pretty expensive, while few are affordable, so choose wisely.
Where to rent in Singapore?
While most universities provide on-campus residence halls, one can also opt for off-campus rented accommodation according to their budget.
How much does it cost to study in Singapore?
The annual university fees of Singaporean colleges can be as much as 26,000 – 30,000 Singapore Dollars yearly.
At ForeignAdmits, we understand how important this decision is. We are here to help you every step of the way, from finding the right school to getting admitted and securing scholarships.
We have a team of experienced counselors who can provide you with customized guidance based on your individual needscontact us today to get started. We look forward to helping you achieve your educational and career goals!