Cost of living for international students: A country-by-country budgeting guide
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Tuition is only half the sum. Visa authorities in several destinations have raised their proof-of-funds thresholds for 2026, which changes the number you need to show before you even land.
Tuition is only half the sum. The cost of living for international students, rent, food, transport, insurance and the inevitable unexpected bill, is what actually determines whether your year abroad feels comfortable or constantly tight. Visa authorities in several popular destinations have also raised their proof-of-funds thresholds for 2026. Here is a practical, country-by-country breakdown to help you plan.
What proof-of-funds actually requires, by destination
United States. The US does not set one fixed proof-of-funds figure. Instead, your I-20 form states your school's estimated cost of attendance, tuition plus an estimated living allowance, and your F-1 visa application must show you can cover that amount for at least the first year (Study in the States, financial ability).
United Kingdom. As of today, the UK's Student visa financial requirement is £1,529 per month for courses in London and £1,171 per month outside London, for up to 9 months, on top of any tuition still owed (GOV.UK, student visa money). For applications made on or after 30 November 2026, the Home Office has set higher amounts: £1,570 per month in London and £1,203 outside London, up to £14,130 and £10,827 over nine months. Confirm the figure that applies on GOV.UK if you are applying close to that date.
Germany. Most non-EU students need to open a blocked account (Sperrkonto) showing roughly €992 per month, around €11,904 for a full year, before their visa is granted. Confirm the current figure directly with your local German mission before transferring funds, since blocked-account thresholds are reviewed periodically.
France. From 1 August 2026, Campus France confirms that long-stay student visa applicants must show minimum financial resources of €877.50 per month, a significant jump from the previous €615 per month threshold.
Canada. Beyond tuition, for applications submitted from 1 September 2026, a single study permit applicant outside Quebec needs to show CAD $23,448 to cover one year of living costs, up from CAD $22,895 (IRCC, financial support). IRCC adjusts the figure annually, so confirm the exact current amount before you apply.
Australia. The Department of Home Affairs sets an annual living-cost benchmark for the subclass 500 student visa, currently AUD $29,710 for a single applicant, reviewed periodically. Check the current figure on the Department of Home Affairs website, since this is separate from tuition and travel costs.
Building a realistic monthly budget
Once you have the visa minimum, build a second, more honest number around these categories: rent, usually your single biggest line item and it varies enormously by city, not just country; food and groceries, since cooking most meals yourself typically costs a fraction of eating out regularly; transport, since student transit passes are common and worth checking for as soon as you arrive; health insurance, often mandatory and separate from tuition in the US, Australia and several European destinations; and phone, incidentals and a buffer, since something always comes up.
A simple way to stress-test your plan: take the government's proof-of-funds figure for your destination, then add a buffer on top for the gap between the legal minimum and real life in a specific city. For a view of the total you need to save before you go, see our guide to how much to save before studying abroad.
Where a loan fits into the picture
This is exactly where financing decisions matter. A loan that only covers tuition still leaves you to find rent, food and insurance out of savings or family support, on top of everything else. Prodigy Finance loans can cover up to 100% of your total cost of attendance, up to a maximum of USD 220,000*, assessed on your future earning potential rather than requiring a co-signer, collateral, or looking at family income. Funds are paid directly to your school, and there is a mandatory USD 100 per month payment while you study, which is folded into your representative APR (13.48%*), so you know the real cost upfront rather than being surprised by it later.
Model your own numbers with our loan calculator, or check your eligibility. For destination detail, see our US, UK, Germany, France, Canada and Australia study destination pages.
FAQs
How much money do international students actually need per month?
Do proof-of-funds requirements include tuition?
Can a student loan cover both tuition and living expenses?
Do these proof-of-funds figures change every year?
A final word
Budgeting for a master's abroad is not about finding the cheapest destination. It is about being honest with yourself about what a specific city, in a specific country, actually costs to live in, and making sure your funding plan covers all of it, not just the tuition invoice.
