Hidden Costs of Studying in the USA That Most Students Overlook

Many students dream of studying in the USA for higher education. When planning for this big step, most students focus on tuition fees and living expenses. However, there are several hidden costs that students often don’t realize until after they start the application process. These additional expenses can add up, so it’s important to be well-prepared. In this blog, we will discuss some of these hidden costs that you should know before applying to study in the USA. 

University Fees

Before arriving in the USA, there are two main types of university fees that you might need to pay. The first one is the University Application Fee. This is the fee required when you apply to a university. Not all universities charge an application fee, but many do. The cost varies depending on the university, but it can range from $50 to $100 per application. If you are applying to multiple universities, this cost can add up quickly. 

Enrollment Deposit Fee

 Once you receive an acceptance letter, some universities require you to pay an enrollment deposit to confirm your seat. This fee is necessary to receive your I-20 document, which is required for your student visa. The deposit amount varies by university, but it can be anywhere from a few hundred to a few thousand dollars. 

Health Insurance

Health insurance is mandatory for all international students in the USA. You can either purchase a health insurance plan through your university or choose one from an external provider. The cost of health insurance varies depending on the provider and coverage, but it generally ranges between $500 to $2,000 per year. This is an essential expense that cannot be ignored.

Visa-Related Costs

After being accepted into a university, you need to apply for a student visa. There are two main fees associated with this process. The first is the VISA Appointment Fee (MRV Fee). Recently, the US embassy increased this fee from $160 to $185. If converted to Nepali currency, it is around 24,000 NPR, which is quite a lot. This fee is required for scheduling your visa appointment. The second is the SEVIS Fee, which costs $350. This fee is for registering with the Student and Exchange Visitor Information System (SEVIS) and is mandatory before attending your visa interview.

Banking Fees for Tuition Transfers

When transferring money from Nepal to your university in the USA, banks charge various fees. Many students assume the charges are minimal, but they include currency conversion fees, wire transfer fees, education tax, and bank service charges. For example, if you need to transfer $10,000 for your tuition, you might have to pay an additional 30,000–35,000 NPR just in banking fees.

 Travel and Housing During University Breaks

Many students choose to travel back home during summer or winter breaks. However, international flight tickets are expensive, especially during peak seasons. If you plan to visit home at least once during your four-year course, you will need to buy three tickets – one for going to the USA, one for coming home during the break, and one for returning to the USA. Each ticket could cost over 100,000 NPR, making it a significant expense. For students who choose to stay in the USA during breaks, some universities charge extra fees for accommodation. Not all universities provide free housing during breaks, so you may need to pay extra if you want to stay on campus.

Clothing and Room Supplies

Students going to colder states need to buy warm jackets, heavy coats, boots, and other winter essentials. Many students try to save money by purchasing these items in their home country, but it’s still an added expense. Apart from clothing, you will also need room essentials such as blankets, pillows, bedsheets, and kitchen utensils. These small costs add up and can impact your budget. 

Employment Authorization Fee

After completing your degree, you might want to work in the USA under Optional Practical Training (OPT). To do so, you need to apply for an Employment Authorization Document (EAD), which costs $410. Many students are unaware of this fee until they reach the end of their studies.

 Conclusion

These are some of the hidden costs that students don’t usually consider before applying to study in the USA. While studying abroad is expensive, it is also a great investment for your future. If you plan wisely and prepare for these extra costs in advance, the transition will be much smoother.If you are looking for more information related to studying in the USA, make sure to follow our Instagram page for daily updates. Let us know in the comments if you would like us to make a separate video on OPT and Employment Authorization!