The reality is that studying in Australia involves several additional expenses that many families overlook until they have already received their offer letter or arrived in Australia.
These include:
- Student visa application fees
- Overseas Student Health Cover (OSHC)
- International flights
- Rental bond and accommodation setup
- Laptop and study essentials
- Graduate (Subclass 485) visa after completing the degree
Ignoring these costs can leave students significantly underfunded. Financial planning isn't just about managing expenses—it can also affect your student visa application, where applicants must demonstrate they have sufficient financial capacity for their studies.
This guide provides the complete all-in cost of studying in Australia for Indian students in 2026.
Complete Cost of a 2-Year Master's Degree in Australia
The estimates below represent a typical international student studying in a moderately priced Australian city.
| Cost Item | Estimated Cost (AUD) |
|---|---|
| Tuition Fees (2 Years) | $60,000 – $80,000 |
| Living Expenses (2 Years) | $40,000 – $50,000 |
| Overseas Student Health Cover (OSHC) | $1,000 – $1,400 |
| Student Visa Application | $2,500 |
| International Flights | $2,000 – $3,000 |
| Initial Setup Costs | $3,000 – $5,000 |
| Graduate Visa (Subclass 485) | $4,910 |
| Estimated Total | $113,000 – $146,000 AUD |
Where Most Families Underestimate the Budget
Many students prepare for tuition and accommodation but forget several mandatory or unavoidable costs.
1. Student Visa Fees
Australia's student visa application fee is approximately AUD $2,500.
This expense is required before beginning your studies and is often excluded from university cost estimates.
2. Graduate Visa (Subclass 485)
After graduation, many international students apply for the Temporary Graduate Visa (Subclass 485) to gain Australian work experience.
Current application cost:
AUD $4,910
This is one of the largest post-study expenses that families rarely include in their financial planning.
3. Overseas Student Health Cover (OSHC)
OSHC is mandatory for every international student.
For a typical two-year master's degree, students should budget approximately:
AUD $1,000–1,400
The exact premium depends on your provider and the duration of your visa.
4. Flights
Students generally need:
- One international flight to Australia
- At least one return trip during or after studies
Estimated budget:
AUD $2,000–3,000
Airfare varies depending on the season and departure city.
5. Initial Setup Costs
This is where many students experience financial pressure during their first month.
Typical expenses include:
- Rental bond (usually four weeks' rent)
- First rent payment
- Furniture or household essentials
- Kitchen supplies
- Public transport
- SIM card
- Groceries
- Laptop or study equipment
Estimated budget:
AUD $3,000–5,000
The Hidden Cost Most Students Forget
When families calculate costs, they often focus on tuition and rent.
However, the additional expenses outside these two categories can easily exceed:
AUD $17,000–20,000
This includes:
- Student visa
- Graduate visa
- OSHC
- Flights
- Initial setup costs
These expenses alone can increase your overall education budget by 15–25%.
Why Proper Financial Planning Matters
Australia requires international students to demonstrate that they have sufficient funds to support their studies and living expenses.
Poor budgeting can lead to:
- Financial stress during studies
- Difficulty paying tuition
- Challenges securing accommodation
- Increased reliance on part-time work
- Potential complications during the visa process
Planning your complete budget before applying helps avoid unexpected financial pressure later.
Budgeting Tips for Indian Students
Before accepting an offer, ensure you:
- Calculate the total cost for the entire degree—not just the first year.
- Include all visa fees in your education budget.
- Budget separately for OSHC and flights.
- Keep sufficient funds for accommodation deposits and initial living expenses.
- Reserve money for the Temporary Graduate Visa if you intend to work in Australia after graduation.
- Maintain an emergency fund for unexpected expenses.
Final Thoughts
Studying in Australia is a valuable long-term investment, but success starts with realistic financial planning.
A two-year master's degree typically costs between AUD $113,000 and $146,000, depending on your university, lifestyle, and city.
Looking beyond tuition fees gives you a clearer picture of the true investment required and helps you prepare with confidence.
By understanding every expense—from visa fees to graduation—you can make informed decisions and reduce financial stress throughout your study journey.
Frequently Asked Questions (FAQs)
How much does it cost to study in Australia for Indian students in 2026?
A typical two-year master's degree costs approximately AUD $113,000–146,000, including tuition, living expenses, visa fees, OSHC, flights, setup costs, and the graduate visa.
Are visa fees included in university tuition?
No. Student visa fees and graduate visa fees are separate expenses and must be budgeted independently.
How much money should I keep for initial settlement in Australia?
Students should budget AUD $3,000–5,000 for rental bond, first rent payment, study equipment, groceries, transport, and other essential setup costs.
Is Overseas Student Health Cover (OSHC) mandatory?
Yes. Every international student must maintain OSHC for the duration of their student visa.
What is the biggest hidden expense after graduation?
The Temporary Graduate Visa (Subclass 485), which currently costs AUD $4,910, is one of the most commonly overlooked expenses.
Sources: AECC Global (2026), ApplyBoard (2025), Australian Department of Home Affairs Fee Schedule (2026), Educircle Cost Modelling (2026).