According to a recent study by HSBC Group, the United States is now the second most expensive country in the world for international students. The combined average cost of university fees and living expenses for international students in the US is over $35,000, and international students at Ivy League schools can expect to pay far more, with total costs running over $58,000.
In spite of the high cost, more and more international students are studying in the United States every year. According to the “2012 Open Doors Report” released by the Institute of International Education (IIE), in the 2011-2012 school year, international student enrollment at both colleges and graduate schools in the US increased. 764,321 international students in total were enrolled at a US institution, a 5.7% increase over 2010-2011.
A US education is likely an expensive endeavor for international students from any country. International students are not eligible for federal financial aid, scholarships are often limited, and some colleges charge additional international student fees on top of tuition. For these reasons, the majority of international student rely primarily on their own funds to study in the US. In 2011-2012, 486,524 international undergraduate and graduate students used personal or family funds as their primary monetary source—a 6.1% increase over those who did so in 2010-2011. Read the rest of this entry »