Are you wondering whether it is realistic that your savings can cover 3-5 years and a university degree abroad? Let’s break it down and see how much it costs to study abroad in Hungary.
1. First group of expenses: the tuition fees and other study-related fees: 5500-7500 EUR annually
Tuition fees vary somewhat in Hungary depending on the study program and the university, but we can safely say that your average annual tuition fee will be between 5000 and 7500 EUR. In most universities you are asked to pay 1 year tuition fee in advance, after the interview but before the visa process.
BEWARE! If a consultancy or university only asks for a 1-semester tuition fee payment, you have to be very careful! It’s either a scam, or if it not, then it will result in a much higher chance of visa refusal. Don’t believe the “easy solutions”, as they always have a hidden price.
Other study-related fees often include:
- Application fee (this is true for all universities, it costs 150-200 EUR on average)
- Registration fee (this is less common, but your university has it, it’s usually around 200 EUR and it has to be paid when you enroll to the university)
- Study deposit (this is pretty rare, usually charged by affordable universities with a high churn rate. You normally have to pay 500 EUR that is refundable after successful graduation.)
- Dormitory (if the university offers dormitory placement. Fees are around 600-800 EUR per semester).
2. Show money (savings) at the embassy: around 10.000- 15.000 EUR
This is not an actual expense, as you don’t have to pay this amount of money, you (or your sponsor) just have to have it on their bank account.
The point of show money is to prove to the embassy that you (or your sponsor) have enough savings to comfortably finance your studies abroad. You can read more about the details of this HERE.
3. Living expenses: 600 EUR per month
Living expenses really can depend on your personal needs and choices. Will you live in a cheap student dorm or a private apartment? Will you cook or eat out every day? Will you have expensive hobbies? Will you travel a lot?
However, to give you a good enough estimation: on average, 600 EUR per month is considered to be enough for university students including housing, food, transportation, occasional dining out etc. For a longer list of prices, check out our previous article on the topic HERE.
Besides living expenses, you must also consider flights to your homecountry and back, usually once or twice a year.
So how much money should you have to even start thinking about applying for studies in Hungary?
If your sponsor (one of your parents) is working and has a steady inflow of earnings (so they can work while you are studying aborad), then our recommendation is to have at least the show money+ the first year’s tuition fee by hand when you apply. This means around 20.000 EUR (a bit less, a bit more doesn’t matter.) This money will be convincing for the embassy and Immigration Office that you will be able to do studies in Hungary, and it will comfortably cover the first one and a half- two years of your studies.
If you are self-sponsored, or your sponsor doesn’t have continuous inflow of earnings, then it’s best to have the majority of the fees saved already before applying.
What if you want to work during your studies?
Taking up a student work is great while you are studying and you can even legally do it up to 30 hours per week, however it’s not going to cover all your expenses (tuition+ living) for sure. Even if you want to work during your studies, the initial 20.000 EUR is a must, otherwise you surely won’t get a university acceptance or a study visa.
A common practice is to save enough money to study during the first half of your studies, and once you are comfortable in your new country and feel like earning some extra money, then you can start supplementing your budget with student jobs. If you want to know more about student jobs in Hungary, read our previous article HERE.