International students spend $22,001 annually to study in Singapore

Tuition fee costs averaged $16,933.

It takes about US$16,156 (S$22,001)per year to study in Singapore with an average tuition fee of US$12,434 (S$16,933), according to Wise.

The global technology company specialising in money management revealed the top 10 most expensive places for international students studying abroad. This ranking takes into account both tuition costs and fees associated with cross-border transactions.

Singapore was seventh out of the listed costliest markets to study.

Other educational costs included when studying in Singapore averaged US$3,721 (S$5,067). Enduring all the expenses meant losing money worth US$427 (S$581) or 2.64% – a percentage representing how much international students could be saving if they used Wise for paying for their tuition and other related educational costs, compared to other, traditional providers.

ALSO READ: What do Singaporean students consider an ideal job?

According to the ranking, the United States is the most expensive place to study abroad, with international students paying nearly US$35,096 (S$47,793) annually. 

New Zealand is the second-most expensive destination, followed by Australia (3rd), Canada (4th), Hong Kong (5th), and the United Kingdom (6th). 

Wise also found that international students in these top 10 expensive destinations collectively overpay approximately US$1.1m (S$1.5m)  annually in international money transfer fees. 

(US$1.00 = S$1.36)