Pursuing a Masters in Engineering Management (MEM) can be a transformative step in one’s career. However, it’s natural to be concerned about the cost associated with this degree – especially if you’re planning to study abroad.
That’s why, we’ve brought you this article!
From tuition fees to living expenses (plus additional costs you may have never thought of), we will try our best to answer all your doubts regarding Masters in Engineering Management cost. So, stick till the end!
Tuition Fees of Top MEM Colleges Worldwide
Tuition fees of the college constitute a major portion of the overall Masters in Engineering Management cost. The more reputed a college is, the higher the fees.
Some other factors that influence tuition fees are the college’s geographic location, program structure, residency status (International students typically pay more than domestic students), and more.
Below are the top colleges of Masters in Engineering Management abroad along with their tuition fees:
| Colleges | Location | Annual Tuition Fees |
| Cornell University | New York, USA | $68,380 |
| Duke University | Durham, North Carolina, USA | $66,912 |
| Audencia Business School | Nantes, France | €22,000 (~ $ 23,872) |
| Purdue University | West Lafayette, Indiana, USA | $43,200 |
| University of Birmingham | Birmingham, UK | £92,735 (~ $119,387) |
| University of Leeds | Leeds, UK | £31,000 (~ $39,915) |
| John Hopkins | Baltimore, Maryland, USA | $94,260 |
| Dartmouth University | Hanover, New Hampshire, USA | $63,684 |
| University College Dublin | Dublin, Ireland | € 29,100 (~ $31,576) |
| Technical University of Denmark | Kongens Lyngby, Denmark | € 25,000 (~ $27,127) |
| Politecnico di Milano | Milan, Italy | €7,783 (~ $8,446) |
| KTH Royal Institute of Technology | Stockholm, Sweden | € 29,500 (~ $32,007) |
| University of East London | London, UK | £11,440 (~ $14,727) |
Cost of Living for Students Pursuing Masters in Engineering Management
When planning to study abroad, it is crucial to consider the annual cost of living. This expense will vary depending on the location of the college (whether it is in an urban or rural region) and country.
The overall MEM student’s cost of living can be broken down into components like accommodation, transportation, and daily expenses (including grocery, laundry, etc.).
These costs heavily impact the financial burden of studying abroad. So, you must research and plan your finances thoroughly before applying for any college.
Here’s a quick chart showcasing the “cost of living” aspect of a Masters in Engineering Management cost:
| Country | Accommodation | Transportation | Daily Expenses | Total Cost of Living |
| USA | $8,000 – $15,000 | $1,200 – $2,500 | $10,000 – $15,000 | $19,200 – $32,500 |
| UK | £6,000 – £12,000 | £800 – £1,500 | £8,000 – £12,000 | £14,800 – £25,500 |
| France | €6,500 – €12,500 | €850 – €1,600 | €8,500 – €13,000 | €15,850 – €27,100 |
| Singapore | SGD 1,515 – SGD 1,530 | SGD 110 – SGD 150 | SGD 580 – SGD 600 | SGD 1,550 – SGD 1,570 |
| Ireland | €7,000 – €14,000 | €7,000 – €14,000 | €9,000 – €14,000 | €16,900 – €29,800 |
Additional Expenses for MEM Students
Other than tuition fees and living costs, students pursuing a Masters in Engineering Management may need to bear some additional expenses:
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Application Fees
Covering expenses like English proficiency tests (IELTS, TOEFL, or PTE), standardized entrance exams (SAT, GRE, or GMAT), and university application fees is essential to kickstart your application process smoothly. These costs typically range from ₹5,000 to ₹20,000 per exam or application.
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Visa Fees
Visa application charges vary based on the country you’re applying to. Popular study destinations like the US, UK, France, Ireland, and Singapore impose visa fees ranging from ₹10,000 to ₹20,000 for student visas. It’s essential to check the specific fees and requirements for your chosen country.
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Insurance Cost
Health insurance is a vital consideration for international students. Costs can range from $500 to $2,000 annually depending on the country, coverage, and university requirements. It’s advisable to compare plans and choose one that aligns with your needs and budget.
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Travel Cost
Relocating to a foreign country involves travel expenses, including airfare, transportation to your accommodation, and potential additional travel costs. Budgeting around $500 to $1,500 for these expenses is recommended for a smooth transition.
Scholarships for MEM Students Abroad
Securing funding for your Masters in Engineering Management (MEM) can significantly alleviate your financial burdens.
A wide range of scholarships are available to Indian students pursuing MEM programs abroad. These can be government-funded, or private grants especially tailored to help students cover their Masters in Engineering Management cost.
Here’s a breakdown of the primary Engineering Management scholarships you can keep a tab on:
| Inlaks Shivdasani Foundation Scholarships | Award Amount: Up to $100,000
Eligibility: Indian citizens under 30 years old with a first-class degree and confirmed admission to a top-tier university. |
| JN Tata Endowment for the Higher Education of Indians | Award Amount: Up to INR 10,00,000
Eligibility: Indian citizens under 45 years old with a strong academic record and confirmed admission to a foreign university. |
| Narotam Sekhsaria Foundation Scholarships | Award Amount: Up to INR 20,00,000
Eligibility: Indian citizens under 30 years old with consistent academic excellence and confirmed admission to a prestigious university. |
| Commonwealth Scholarship and Fellowship Plan | Award Amount: Varies (covers tuition, travel, and living expenses)
Eligibility: Indian citizens with exceptional academic achievements and confirmed admission to a Master’s or PhD program in a Commonwealth country. |
| Fulbright-Nehru Master’s Fellowships | Award Amount: Varies (covers tuition, living expenses, and airfare)
Eligibility: Indian citizens with a bachelor’s degree (minimum 55%), at least three years of professional experience, and demonstrated leadership qualities. |
Tips for Securing Scholarships
- Research thoroughly: Explore various scholarship opportunities available to international students.
- Meet eligibility criteria: Ensure you meet the specific requirements of each scholarship.
- Prepare strong application materials: Craft compelling essays and letters of recommendation.
- Start early: Begin your scholarship search well in advance of application deadlines.
- Network: Build relationships with professors, alumni, and professionals in your field to increase your chances of securing recommendations and support.
Remember: The competition for scholarships is fierce. Applying to multiple scholarships will increase your chances of securing the funds.
Conclusion
In conclusion, while pursuing a Masters in Engineering Management (MEM) can significantly enhance one’s career prospects, the financial implications, especially when studying abroad, demand careful consideration.
From tuition fees to living expenses and additional costs, this article has aimed to provide comprehensive insights to help prospective students make informed decisions.
By understanding these expenses and exploring available scholarships, you can not only lower your Masters in Engineering Management cost but also better navigate the path toward your academic and professional goals.
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