MBA from the USA is one of the most demanding and multilateral programs globally. It is not just a way to improve managerial, technical, and leadership abilities, but it will also provide a bright future and help develop the personality of a student. MBA in USA costs for Indian students could reach 1 million dollars.
The cost of studying in the USA and in any country could be divided into three major components: costs before arrival, tuition costs, and the cost of living.
In terms of tuition fees, MBA in USA fees for Indian students ranges from 50 to 80 lakh rupees annually. You will have to pay the living expenses to this amount, which are approximately 15 lakhs per year.
The USA appears to be the most expensive place to complete an MBA, but it’s worth every cent. It is a better value and has a higher potential for earning than other nations.
The average annual salary for one MBA graduate is approximately 80,00000 rupees per year. Scholarships are provided within the USA for students from abroad to help them finance their education.
Summary of MBA in USA Fees for Indian Students
|Type of Expenses||Average Cost (INR)|
|Registration Fees for Standardized Tests||14,000-19,000|
|AirFare||Up to 1,00,000|
|Visa and SEVIS Fees||38,069 and 26,000|
|Tuition Fees||20 lakhs to 60 lakhs annually|
|Cost Of Living||15 , 000 per annum|
According to the table, the annual cost to pursue MBA in the USA for Indian students could be higher than 1 crore INR per year.
MBA in USA Fees for Indian Students
The costs for pre-arrival to pursue an MBA at USA institutions include the cost of registration in order to sit for English proficiency tests as well as visa application fees SEVIS fees, eligibility tests, fees, as well as airfare. The average one-time expenses are as follows:
|Category||Amount ( In INR )|
|SEVIS Fees||26,000 Approx|
|Airfare||30,000 to 1,00,000 Approx|
USA Student Visa Application and SEVIS Fees
The cost for a student visa within the USA is approximately 38,084 INR. Most students require an F1 visa to attend an academic program that requires more than 18 hours of instruction in a week. The SEVIS cost for the F1 visa is approximately 16,300 INR. This visa also permits Indian students to stay in part-time or on-campus positions and MBA classes.
Students who hold F1 visas can stay for up to 60 days of additional time in the USA when they complete their academic courses.
IELTS/TOEFL Fees in Indian Rupees
Typically, IELTS or TOEFL 2 are among the most widely accepted proficiency tests USA universities use. Some institutions also recognize PTE. The ideal score by IELTS must be 7.0, and for TOEFL (iBT), it is 70 and 100 for PTE. The cost of enrollment for IELTS, TOEFL, and PTE are 17,922, 13,935, and 17,922 and 13,300, respectively.
GRE/GMAT Fees in Indian Rupees
GMAT is generally accepted by schools in the USA to be used in the MBA program. The minimum score is 600 or more. However, some universities might also accept GRE as an equivalent. The cost for registration only for GMAT is 18,700 INR, whereas it’s 19,000 Indian rupees for GRE.
Flights between India from India to the USA with Indian rupees
Tickets for flights between India and the USA are usually expensive. Prices start at around 30000.
MBA in USA Fees for Indian Students
The expenses after arriving in the USA include tuition costs and the cost of living, and other costs. The estimated costs to an Indian student studying MBA can be up to 1 crore Indian rupees per year.
Tuition Cost of MBA in the USA in Indian Rupees
The tuition fees vary from one institute to another. The top universities in the USA that have average annual costs are as follows:
|Stanford Graduate School of Business||Stanford||55,75,125|
|The Wharton School||Philadelphia||60,02,845|
|MIT (Sloan School of Management)||Cambridge||57,59,245|
|Harvard Business School||Boston||54,81,198|
|Haas School of Business||Berkeley||51,08,321|
|Booth School Of Business||Chicago||54,81,198|
|Kellogg School of Management||Evanston||55,85,039|
|Anderson School of Business||Los Angeles||48,57,957|
|Yale School of Management||New Haven||53,99,661|
|Ross School of Business||Ann Arbor||53,01,282|
Some of the top institutions within the USA for indian students interested in taking an MBA include:
|University Of Texas||42,18,596|
|Kelley School Of Business||20,77,829|
|Kenan-Flagler Business School||38,12,800|
Scholarships that can help ease the burden of such massive sums of money include:
- Havard MBA scholarship
- Wharton fellowship program
- Chicago Booth MBA scholarship
- Kellogg MBA scholarships
- MIT Sloan MBA scholarship
Students are able to take loans from Prodigy Finance if they are admitted to schools such as Havard, MIT Sloan, University of Chicago (BOOTH), Wharton, University of Michigan (Ross), UC Berkeley, UCLA (Anderson) and so on. Beyond that the students are able to take loans from banks as well as non-bank financial institutions.
Cost of Living in USA for an Indian Student
Cost of living covers the cost of living in the USA as well as personal expenses, food such as phone/internet bills as well as transportation and entertainment, health insurance, etc. The cost of living in the United States is significantly higher than it is in India. A rough estimate of the cost is listed below:
|Types of Expense||Cost Per Year (In INR)|
|Food and Drinks||1,43,300 Approx|
|Personal Expenses||Between 2 and 3 Lakhs|
The cost of these items varies from student to student, and are based on their financial status, lifestyle and interests as well as the different areas where students live.
Beyond the above-mentioned expenses there are also stationery and books costs as well as entertainment expenses, among other expenses that students need to cover.
Living costs in USA major cities is for Indian students who are studying MBA include:
|City||Average Annual Cost (In INR)|
|New York (New York)||17,90,000|
|Los Angeles (California)||18,65,200|
Following the completion of an MBA at USA schools students are offered a variety of opportunities to work with a large quantity of pay. Some of the top recruiters who offer jobs include Amazon, BCG, Deloitte, JP Morgan, McKinsey, Goldman Sachs, etc.
Excellent training and high-quality education, backed by industrial experience and an international environment, world-class infrastructure, and high-paying jobs, MBA in USA is popular among Indian students.
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