Think you're ready for the grand adventure of studying abroad?

 

Well, buckle up, because there's more to it than hitting the books in another country! It's a life-altering journey with plenty of challenges. You're going to have to get used to a different culture, meet new people from unique backgrounds, and - you guessed it - get your finances in check because it’s not just school expenses you need finances for. Studying abroad certainly isn't cheap, luv!

 

But don't worry, we're here to help with this blog jam-packed with important information like living expenses, tuition fees, visa requirements, and student loans!

 

 

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Popular Study Abroad Destinations for Filipino Students

To answer the question of how much it costs to study abroad, let’s focus on the top destinations for Filipino students. Below are brief overviews of each one!

 

• Canada – Many Filipinos prefer Canada due to its accessibility and high-quality education system. They are very aggressive in advertising their study permit to Filipinos and they also have a growing Filipino community which can help ease homesickness.

   

• Australia – The Land Down Under is particularly popular for its excellent education system, research opportunities, and – you guessed it - a growing Filipino community, too!

   

• United States – The United States is a top choice for Filipino students due to its vast opportunities for higher education, diverse cultural experiences, and strong job market prospects. However, the cost of living and tuition can be a challenge for some students.

 

• United Kingdom – The United Kingdom offers a rich cultural experience and a strong education system. Filipino students can benefit from the country's long history and tradition, as well as its numerous scholarship opportunities.

 

• Japan – Japan is an attractive destination for Filipino students due to its unique cultural experience and advanced technology industry. The country offers a high-quality education system and opportunities for internships and research.

 

• New Zealand – New Zealand is known for its beautiful landscapes, friendly atmosphere, and strong education system. It offers a unique cultural experience and various opportunities for international students.

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Tuition Fees and Academic Expenses

Are any of those countries your top pick, luv? If the answer is yes, check out the average tuition fees below! Take note, though, that they may vary depending on the institution, program, and level of study.

 

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Living Expenses Abroad

While studying abroad, you’ll want to live as comfortably as you can to fully focus on schoolwork. Let’s check out the average living expenses such as rent, utilities, and groceries. These are only estimated costs, of course – it largely depends on your specific needs, wants, and your lifestyle!

 

Canada

• Monthly rent cost: CAD 190 – CAD 531
• Monthly utilities costs: CAD 129
• Monthly grocery cost: CAD 228

 

Australia

• Monthly rent cost: AUD 273 - AUD 864
• Monthly utilities costs: AUD 133
• Monthly grocery cost: AUD 228

 

United States

• Monthly rent cost: USD 500 - USD 3,500
• Monthly utilities costs: USD 185
• Monthly grocery cost: USD 228

 

United Kingdom

• Monthly rent cost: GBP 719 – GBP 855
• Monthly utilities costs: GBP 131
• Monthly grocery cost: GBP 228

 

Japan

• Monthly rent cost: JPY 114 – JPY 558
• Monthly utilities costs: JPY 103
• Monthly grocery cost: JPY 114 – JPY 530

 

New Zealand

• Monthly rent cost: NZD 200 – NZD 400
• Monthly utilities costs: NZD 140
• Monthly grocery cost: NZD 180

Urban vs. Rural Areas

Urban areas in Canada are generally more expensive compared to rural areas in terms of housing and utilities but they offer more job opportunities. When choosing between the two, consider what you want to prioritize for a fulfilling experience studying abroad.

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Visa and Travel Costs

Everyone knows that there’s a ton of preparation involved in traveling. Packing your belongings is the easiest part, luv! You have to secure visas and other requirements as well. Here’s an overview for each country:

 

• Canada – Canada requires that you apply for a Study Permit, which you can do online. For that, you will need requirements such as a letter of acceptance, proof of identity, and proof of financial support. You may also be asked for a letter of explanation, a medical exam, and more. Note also that you may have to pay fees to apply. Learn more here.

 

• Australia – A student visa for Australia may cost you at least AUD 710. You can also apply easily online. Requirements include a Certificate of Enrollment, Proof of Overseas Student Health Cover (OSHC), your passport, and other documents. Learn more here.

 

• United States – There are two types of student visas you can get for the United States. The first – F visa – is for academic institutions, while the M visa is for vocational or other recognized nonacademic institutions. You may apply online, but applicants aged 14 – 79 may be interviewed. Learn more here.

 

• United Kingdom – The United Kingdom’s age requirement for student visas Is 16 years old, and it costs GBP 490 for applicants living outside of the U.K. On top of that, you may have to pay for the healthcare surcharge which depends on how long your visa lasts. Learn more here.

 

• Japan – Applying for a student visa in Japan typically requires the following documents: your passport, a visa application form, one photograph, and a Certificate of Eligibility. Depending on the applicant’s nationality, more documents may be requested. Learn more here.

 

• New Zealand – The student visa application for New Zealand varies depending on your specific needs. You can apply for a Fee- Paying Student Visa (allows you to study full-time), Exchange Student Visa (up to 4 years in an approved student exchange scheme), Foreign Government Supported Student Visa (up to 4 years, full-time), or a Pathway Student Visa (up to 3 consecutive courses, or up to 5 years while working). Learn more here.

 

Airfare varies from country to country, and depending on your travel date/s. Check any of the available airlines in the Philippines and make sure to look for the best prices.

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Other Necessary Expenditures

Luckily, the countries mentioned have private and public healthcare systems, but it’s best to have insurance in case of unexpected medical emergencies.

 

Other costs to consider are telecommunication services, internet, leisure, and emergency funds. In preparation for the move, set aside some funds for these necessary expenditures using a Tonik Stash. You can organize them by category and earn up to 4% interest p.a. You can Stash with a group as well and earn up to 4.5% interest p.a.!

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Financing Your Study Abroad Journey

A great way to finance your education abroad is by exploring grants, scholarships, and bursaries. Note that these are just some of the many, many options available!

 

1. Macquarie University ASEAN Scholarship - Offers AUD 10,000 per year for the duration of the undergraduate or postgraduate degrees.

 

2. Fulbright Philippines Global Undergraduate Exchange Program - This program provides partial funding for Filipino students to study in the United States.

 

3. Asian Development Bank-Japan Scholarship Program - Provides scholarships to students from ADB member countries, including the Philippines, for postgraduate studies in economics, management, science, and technology.

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Student Loans and Educational Plans

 

If grants and scholarships aren’t in the cards for you, that’s fine, luv. You can also explore student loans to help you fund your studies abroad. There are various student loans you can find that are made specifically for the cause but don’t limit your search just yet as Tonik Bank may have the right kind of loan for your specific student loan needs.

 

You see, with Tonik Bank you can take out a Quick Loan.

 

A Tonik Quick Loan allows you to borrow up to P20,000 for up to 12 months with monthly add-on interest rates as low as 4.24%.

 

You can apply easily through the Tonik App and all you need is a valid ID and a Tonik Account to apply!

 

If you’re eyeing a different loan, that’s fine, luv. We won’t get hurt! Just promise us this one thing: make sure to understand the loan terms before committing and keep an eye on those interest rates!

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Work-Study Programs and Part-time Jobs

If student loans aren’t for you, you can also take on part-time jobs.

 

While Balancing work and schoolwork can be a pain, you’ve got to do what you’ve got to do. Plus, think of it this way – you can learn in school while gaining real-world experience! If you choose to take this route, remember that studies must come first. Plus, be wary of the following regulations per country:

 

• Canada – You can work part-time for up to 20 hours per week only during the academic year. Full-time work, on the other hand, is allowed during scheduled breaks. Note that a student permit may be required, certifying that you can work off-campus.

 

• Australia – Australia's the same as Canada in that you can work 20 hours per week or full-time during scheduled breaks. If you’re pursuing post-graduate studies and have relevant qualifications for a specific type of work, you have to apply for a Temporary Graduate Work visa (subclass 485).

 

• United States – International students studying in the United States must work on-campus for their first year. After that, they may pursue off-campus work provided that it is related to their studies and is authorized by the Designated School Official. Learn more here.

 

• United Kingdom – In the United Kingdom, full-time students can work 20 hours per week, while students pursuing a degree can only work 10 hours per week. During scheduled breaks, you can work up to 40 hours a week or 8 hours a day. You are not allowed to do freelance or contract work, and you won’t be able to join any company as a full-time employee unless you have a post-study work visa or Graduate Visa.

 

• Japan – Japan allows international students to work 28 hours a week during the academic year and up to 8 hours a day during scheduled breaks.

 

• New Zealand – To be a working international student in New Zealand, you must have an IRD number for tax purposes. You can work 20 hours a week part-time or 8 hours a day during scheduled breaks.

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Saving and Budgeting Tips for Students

Before we end this handy little blog, we’re sending you off with 5 saving and budgeting tips for students! Not only can these tips help you grow your savings, but they can also help you manage your debts like student loans.

 

1. Create a budget and stick to it - Make a clear budget allocating money to essentials and non-essentials. This includes repaying your debts, if any. Track your spending regularly to stay within budget limits, too.

 

2. Prioritize needs - Distinguish needs and wants and prioritize spending on what those essentials.

 

3. Use student discounts - Take advantage of student discussions for shopping, dining, and transportation.

 

4. Cook at home - Prep your meals at home rather than eating out frequently.

 

5. Set savings goals - Define short-time and long-term savings goals and automate savings contributions to reach those goals consistently.

 

Sayonara, au revoir, farewell, paalam! And always remember, luv – your neobanking romance will always be waiting for you back home!