Research finds Australia is the most costly country for international students

By Ray Clancy. Australia is the most expensive country for overseas students, with a combined average cost of university fees and living costs totalling more than US$38,000 per year. Despite this, Australia has remained one of the most popular destinations for international students with numbers likely to be further boosted by the continuing fall in the Australian dollar and improved visa processing.
The research by HSBC, which reviewed data on higher education in 13 countries, puts the United States as the second most costly country with average annual costs over US$35,000 and the UK third with $30,000. Graham Heunis, head of retail banking and wealth management for HSBC in Australia, said the strength of the Australian economy and the Australian currency has kept the cost of studying in Australia high relative to other markets. ‘While Australia has continued to enjoy higher economic growth than other western markets over the past five years, this has also led to a higher Australian dollar which has placed a strain on the price competitiveness of our export sectors, including education,’ he explained. More...