In recent years, studying abroad has become a major economic issue, with countries competing fiercely to attract as many young minds as possible to gain a foothold in the booming higher education market. Australia was quick to capitalize on the new economic windfall represented by foreign students in Australia.
If you too are attracted, certain precautions are essential, such as taking out student insurance in Australia.
Australia: a dream destination for international students
For several years now, Australia has been one of the most popular destinations for student mobility. Its world-renowned education system and exceptional living environment may well appeal to you. However, studying in Australia also brings its own challenges, particularly in terms of cost and organization. Let’s explore the opportunities, costs and precautions you need to take before studying in this Oceania country.
Why choose Australia for your studies?
Australia offers a wide range of high-quality educational opportunities. You can study at some of the best universities in the world. These include the University of Melbourne, the University of Sydney and the Australian National University (ANU). These are regularly ranked among the best universities in the world. You’ll study in institutions that stand out for their innovative programs, cutting-edge research and modern infrastructure.
One of Australia’s great assets is also its multiculturalism. As an international student, you’ll account for over a quarter of enrolments at Australian universities. This creates a dynamic environment, rich in cultural diversity. This mix encourages the exchange of ideas, open-mindedness and the development of an international network. For this reason, remember to take out student insurance, which is often required by universities.
A leading economic sector
The education sector is a veritable industry in Australia. According to recent data, international students generate more than A$30 billion a year for the country’s economy. This makes it one of the country’s main sources of external revenue, ahead even of the tourism sector. As a result, the Australian government is investing heavily to boost the country’s attractiveness to international students.
Tuition fees for the latter are high. The average is between 20,000 and 45,000 Australian dollars (between €12,300 and €27,800) per year, depending on the program of study. Yet, despite these costs, Australia continues to appeal. By 2023, it was hosting around 9% of the world’s international students. This reinforces its position as one of the world’s top three destinations for study abroad, behind the USA and the UK.
The cost of studies: an investment to plan for
If you’re planning to study in Australia, you should be aware that it’s one of the most expensive countries in the world, on a par with the USA. So it’s essential to be well prepared financially before embarking on a study project in Australia. In addition to tuition fees, you also need to factor in the cost of living. The latter is particularly high in major cities like Sydney and Melbourne. On average, you’ll need to budget between 1,400 and 2,500 Australian dollars (between €865 and €1,545) a month to cover your daily expenses (accommodation, food, transport, leisure activities). It’s important to take out student insurance in Australia, given the current expenses, so that you’re covered in the event of a problem.
Fortunately, there are various scholarships for international students offered by the Australian government. You may also be offered scholarships by the universities themselves or by private organizations. These grants can cover all or part of your tuition fees and living expenses. This eases the financial burden for international students.
The importance of health insurance for students in Australia
If you want to study in Australia, you’ll need to take out special insurance called Overseas Student Health Cover (OSHC). This insurance is essential for access to basic health care in the event of illness or accident. The Australian health system is not free of charge for non-residents. In addition to OSHC, we recommend that you take out complementary student insurance to cover any expenses not covered. With Mondassur, you’ll be covered for dental care, optical care and repatriation.
Taking out private insurance in Australia allows you to leave with peace of mind, while being covered for any unforeseen situations. We offer insurance policies tailored to your needs and up-to-date contracts valid in Australia.
Studying and working in Australia: an opportunity to finance your studies
Good news for you students: in Australia it’s possible to work part-time while studying. With a student visa, you can work up to 48 hours every two weeks. This can take place during course periods, and with no restriction on hours during school vacations. This is an excellent opportunity to finance part of your studies or daily expenses. It also gives you valuable work experience.
Take out student insurance with Mondassur
Australia offers an exceptional setting for study abroad, with renowned universities. What’s more, you’ll be in a multicultural environment with a high quality of life. However, to avoid unpleasant surprises, it’s essential to prepare well in advance. Anticipating costs, getting a free online quote for suitable student insurance in Australia and finding out about scholarship and work opportunities in Australia are all key factors in making your project a success.
