The Iglu Guide | Blog
How to budget for your study year in Australia
Studying in Australia is an incredible opportunity for any student. Not only will you have access to some of the world’s best academic institutions, you’ll experience a fantastic quality of life, a rich culture and a vibrant environment. And it doesn’t end there, with plenty of opportunity for work placements and internships to support your learnings along the way. But before you start pitching the idea to your parents, make sure you’ve worked out the numbers upfront so you know exactly what you’re in for. Developing a sound student budget before you arrive will help you understand how to make the most of everything this amazing country has to offer – and avoid any nasty surprises. Let’s break the budget down.
Student visa
Every international student planning on studying in Australia will need a Subclass 500 visa which will be valid for the duration of your course. Make sure you have your Confirmation of Enrolment to hand on application (new requirement as of Jan 2025), as well as evidence of your English language skills and appropriate health insurance to ensure eligibility. You will also have to demonstrate adequate living funds, or evidence of financial support. Find out what you’ll need to support your visa application. Remember, your visa also allows you to work up to 48 hours per fortnight which is a great way to top up the budget – as long as it doesn’t interfere with your studies.
Cost: $1,600 (for main applicant)
Study location
Where you choose to study in Australia will have a big impact on your budget, with the cost of living still a major consideration factor for students around the world. The larger metropolitan areas such as Sydney and Melbourne tend to have higher living costs in terms of housing, transport and food. Brisbane is a more affordable area for international students, with budget-friendly accommodation options and cheaper living costs.
Cost: Before making your final course selection, always research the cost of living in that specific area.
Student accommodation costs
With many different student accommodation options available, the costs can vary significantly by area and by accommodation type. To get a more accurate picture on what you can afford, it’s a good idea to decide in advance which type of accommodation will suit you best – whether that’s on-campus accommodation, residential colleges, private rentals, homestays or purpose-built student accommodation such as Iglu. Remember to consider all the hidden living expenses that will be incurred on top of your rent, such as utility bills, travel costs, travel time from uni, any furniture requirements and access to amenities. Decide your personal non-negotiables upfront. These might include safety concerns, inclusions, or privacy preferences, which you can then cross-reference with your accommodation budget.
Sydney weekly cost: $350-$820
Melbourne weekly cost: $350-$700
Brisbane weekly cost: $250-$550
Tuition costs
Tuition fees can vary greatly by course, level of study, institution, and city. They are calculated according to the number of units or modules, and will usually include lectures, seminars, and coursework as well as the use of all university facilities and academic services. They don’t include any academic supplies such as books, tech or stationery. Many Australian universities offer scholarships to international students, so it’s definitely worth having a look around to see if there are additional ways to help finance your study.
Undergraduate tuition fees: $20,000-$45,000
Postgraduate tuition fees: $22,000-$50,000
Living expenses
Before arriving in Australia, international students must demonstrate that they have enough funds to support themselves while at university. Whilst tuition and accommodation are the biggest financial outlay, students also need to budget for meals, travel expenses, connectivity and utilities (unless they are included in your accommodation). Costs will vary by location and seasonality, with Sydney and Melbourne more expensive than Brisbane. There are ways to make savings, such as living close to university to save on travel costs, or having all utilities included in the accommodation bill.
| Weekly expense | Sydney ($) | Melbourne ($) | Brisbane ($) |
| Groceries | 100-150 | 90-140 | 80-130 |
| Transport | 50 (capped) | 20-55* | 50c flat fare per journey |
| Utilities | 50-80 | 45-75 | 40-70 |
| Total (Est.) | $200-$280 | $155-270 | $135-$215 |
Entertainment
Even though you’ll be living on a budget, it’s important to factor in some money for social activities such as the movies, eating out, cultural events and activities with friends. Part of the experience of studying overseas is the opportunity to get out and about and explore a new city. Staying active is also important, so some students may want to factor in a gym membership. How much you spend on recreational activities every week is a personal choice and will vary by student, but knowing costs in advance can help guide your decisions.
Movie ticket: $8 – $12.50 (student discounts available)
Gym membership: $15+/week (student discounts available)
Festival ticket: $200+ (entry only)
Sports match: $16+
Museum entry: $20
Emergency fund
Always have access to money for unexpected costs such as a broken laptop, a medical event, rental deposits or urgent travel. It brings peace of mind, even if you never have to touch it.
Top tips: How to stay on budget
- Create a budget – and stick to it!
- Avoid expensive meals out and eat with friends to save money
- Buy seasonal foods
- Take advantage of free entertainment opportunities such as the beach, bushwalking, and free student admission rates at museums and galleries
- Minimise transport costs by jumping on a bike or walking
