Cost of study & living in Singapore

POTENTIAL COSTS
Cost of studying in Singapore is quite reasonable compared to the educational cost in UK and USA with lower tuition costs and overall living costs. Private Universities from the UK and USA offer degrees at a much lower cost than at the main campus (in their own country). The degrees received at the end of the program are equivalent to the degrees if you were studying in the main campuses of these universities in UK, Australia or United States.
In order to help you calculate the cost of studying in Singapore, the estimated tuition cost of different courses is given below:

  • Undergraduate Bachelor Degree –INR 12-22 lacs/ year
  • Graduate Masters Degree – INR 8-20 lacs/ year

High quality of living means significant expenditure. Living costs while studying in Singapore typically ranges from INR 5-7 lacs/year.

FUNDING FOR STUDY COURSE & FUTURE PLACEMENTS
International as well as domestic students can apply to the Singaporean Ministry of Education for a tuition grant after they have secured admission to a course. This takes care of a major part of the university tuition fees. In return for this grant international students have to sign a bond committing to work for a Singapore-registered company for at least three years after completing their degree.
Work while study
In Singapore, international students can work up to 16 hours/week while pursuing their course. No separate permission is required for the allowed number of hours and if the university is approved by the Ministry of Manpower.
Work after completing course
Most institutions in Singapore also offer internships as part of their curriculum with reputed companies. At the end of the course, the companies mostly retain the students as their employee.
There is also the Employment Pass Eligibility Certificate (EPEC) which allows you to stay in Singapore for up to one year in order to search for a job.
Average Income in Singapore
Singapore’s rapidly expanding economy continuously creates new jobs offering a world of opportunities for international students as well. Average salaries can vary from 32700 Singaporean dollars for marketing executive and project engineer to 65000 Singaporean dollars for a business development manager.

EMERGING SECTORS
Singapore has a growing and prosperous economy with a focus on key economic sectors that offer good career and income opportunities.

  • Singapore is Southeast Asia’s leading banking and finance hub with banking, foreign exchange and insurance being the primary growth areas in this sector. It has many international banks such as Barclays Capital, BNP Paribas, Prudential, and Credit Suisse
  • One of Singapore’s largest service sectors is tourism focusing on medical, business and retail tourism which is a major driver of Singapore’s economic growth.
  • Other emerging sectors in Singapore are Supply chain, Insurance, Healthcare, IT and Construction. The Singapore port is one of the busiest in the world providing connectivity to the Asia-Pacific region.
  • There is also an increasing need for legal professionals in the engineering and construction industry due to an increase in new projects and development.