India ranked cheapest for international students: study

India is the cheapest place for an international student to attend an university with the annual expenditure coming to just USD 5,642 while Australia has been ranked as the most expensive at USD 42,093, according to a new study conducted in 15 destinations.
The study was carried out by HSBC's Retail Banking and Wealth Management business, drawing on publicly available sources including university websites.
Singapore, the US and the UK were the next most expensive of the 15 destinations examined, with average annual costs of more than USD 35,000, the report said.
The study found that a student has to pay USD 581 as university fees in India while the living cost was USD 5,062, bringing the overall expenditure to USD 5,642.

While, a international student in Australia has to pay USD 24,081 as university fees and living cost of USD 18,012, bringing the overall expenditure to 42,093.
The study also found that more than half of parents (51 per cent) rated the US among the top three countries in the world for quality of education.

Australia's reputation was strong in Asian countries: it was ranked among the top three by parents in Hong Kong, India, Indonesia, Singapore and Malaysia, the study reported.
"The key reasons to send children overseas are the acquisition of foreign languages, international experience, and independence," said Simon Williams, Group Head of Wealth Management, HSBC.

"But an international education brings an extra dimension of complexity to planning, particularly financial planning, Williams said.
"The majority of overseas education is privately funded by parents, and while the concept of a college fund is well established in the US, it is still the exception elsewhere," he said.
Most expensive destinations for international students are Australia, Singapore, United States, Britain, Hong Kong, Canada, France, Malaysia, Indonesia, Brazil, Taiwan, Turkey, China, Mexico and India.