Bachelor’s and Master´s
What to consider when planning my budget to study my bachelor’s and master’s degree in the U.S.?
We have broken it down to 3 main sections to consider when planning your budget.
University Cost of Attendance
This is the section that represents the largest amount you will have to pay. But what are you actually paying the University for?
The main cost is Tuition. This is the primary source of income for any university and it allows them to invest in quality education centers, materials or labs as well as pay for the best professors. You will pay your tuition fees at the beginning of each semester (August and January), and always before the beginning of classes.
Some factors can alter tuition costs:
- Your degree of interest. Popular degrees will be offered by more universities across the country. In general, the more options students have, the better deals we can find for them.
- The reputation of the University you are interested in. Typically, the higher the prestige or the ranking, the higher the tuition cost.
- Your preferred location for studying. Regions like the Pacific West Coast or popular cities like New York or Boston are in high demand. This high demand increases prices. The opposite is also true; less populated areas or rural locations tend to have a much more affordable tuition price, making them attractive destinations for many students.
Besides tuition, you will also be charged for housing and food, or more commonly known as Room and Board. These costs tend to be much cheaper than the tuition cost and many Universities offer room and board on their own campus, making it simple for the student. In some cases the University does not have this option, so you will need to cover the expense of renting a room or apartment and buying your own meals
Although it may seem simple, you have many options to choose from. Some universities own properties nearby their campus and you can rent rooms from them, but off campus. You may elect to live alone (more expensive), or share a room with a colleague to help reduce the cost. You may even consider to rent an apartment off campus, although a car may be needed to attend classes. Finally, it’s important to mention that most universities expect/require you to live on campus for at least the first year, sometimes two.
In terms of your meal choices, universities tend to have a large range of options, specific to everyone’s needs. You can purchase different ‘meal plans’, whether it be 3 meals a day (breakfast, lunch and dinner) or a single meal a day as you are living off campus. Each price will vary depending on the amount of meals you would like to enjoy each week. Cafeterias in the U.S are typically ‘all you can eat’ although some do have a range of individual meals.
Last but not least, universities also charge extra fees that are used to fund specific campus programs, and recreational facilities (e.g. gym, sports fields, technology fees, library fees, etc.). The amount of these extra fees depends on the program of choice, the university size, etc. but typically range from $200 to $1,000.
Our average undergraduate/bachelor’s and master’s student pays between $15.000 and $25.000 per year as cost of attendance. This amount includes taking into consideration any academic scholarship that the student may receive.
4 Tips to reduce my Cost of Attendance
To sum up, you can find options that cover 100% of your cost (usually strong athletic and academic students) or even costs that can be as high as $40,000 per year. It depends on your specific requirements, needs and background to determine how Epro 360 can help you. To give you a better idea of what your profile looks like, we have created this calculating tool to help you better understand your potential cost of attendance per year.
Academic scholarships are given by nearly every university to qualified students to help reduce the cost of tuition. These scholarships are granted mostly on the basis of academic performance of each student. Therefore, the stronger academic background, the more chances of receiving a scholarship as well as a higher amount of money. If you would like to learn more about this, click here.
If you are an outstanding athlete, you may also qualify for an athletic scholarship in addition to an academic scholarship. This added financial help will not only reduce the payment to the university, but also grant you the possibility of practicing the sport you love during your time at university.
If you are willing, you are eligible according to US law to work up to 20 hours per week on campus. In some cases, you are allowed to work off campus too. This grants hard-working students the opportunity to lower expenses and earn pocket money that they can also use to travel during their stay at university.
This is an option we recommend for second year students or after securing your admission to the university. Living off campus with friends is another great way to reduce the total amount per year you spend on housing and food. This will require knowing your surroundings, planning your daily routine in advance and preparing your own meals. It is, however, a great way of reducing your expenses.
Connected to University Cost of Attendance:
Does Epro 360 collect my payment to pay the university later?
No, Epro 360 will offer support at all times during the process but Epro 360 does not collect any payment that needs to be made to the university. When you are admitted, the university will provide you with instruction on how and when to make your payment.
Do I need to show my future university that I have enough money to pay for the university costs?
Most universities in the U.S. have a “need-aware” admission policy, which means that your financials are taken into consideration at some point during your admission process. One of the requirements that most universities ask of you before granting admission, is that you, or your sponsor, can prove that you have enough funds to pay for at least one year’s worth of university costs without considering any potential scholarships that you could receive.
When will I know how much Scholarship aid I am given?
When you are admitted and issued an acceptance letter, you will be notified of the scholarship amount that has been granted to you. But for this to happen, first we need to apply on your behalf to your chosen universities from the “Listing of Universities.” For this reason, we recommend most of our student to select at least 2 institutions from the “Listing” to apply to and eventually choosing the ‘best’ of those previously chosen institutions.
"University cost of attendance includes tuition, housing, food, campus facilities (e.g. gym, sport fields, etc.), tutors, career advise and many others. Ensure you compare "apples to apples" when considering your alternatives to studying in the U.S."
Epro 360 Services Cost
The price varies depending on the country and the number of services contracted; However, the average amount paid by our customers is approximately 5,000 euros. The sale price of the services purchased from Epro 360 is divided into 2 payments during the service. The first payment of 50% of the total price is made after the signing of the contract and the second payment (also 50%) is made after the election of the universities to which you wish to apply for admission.