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How Much Does It Cost to Study in Singapore?

Singapore has a famous reputation for its excellent education, and maintain high standards of teaching and learning. The cost of study in Singapore is generally cheaper compared with the cost of study in other popular overseas study destination such as the United Kingdom, the United States and Canada.

University Tuition Fees

There are mainly two types of universities in Singapore, public universities, foreign and international university campuses in Singapore.

The government mostly subsidises public universities. Therefore, they could offer selected students admission at a reduced tuition fee. International students are charged higher fees in certain university than local Singaporeans. Foreign and international university campuses in Singapore are generally expensive than public universities.

Public University

We are here comparing the six public-funded university’s tuition fee (per year) for accounting and finance programmes.

All the tuition fees are per annum for 2019 in Singapore Dollar inclusive of local tax
University Programme International Students (Subsidised*) International Students (Non-Subsidised)
National University of Singapore (NUS) BBA Accountancy (3 years) 20,550 32,250
MSc Finance (1 year) 48,150 48,150
Nanyang Technological University, Singapore (NTU) Bachelor of Accountancy (3 years) 20,100 36,830
MSc Accountancy (1 year) 45,000 45,000
Singapore Management University (SMU) Bachelor of Accountancy (4 years) 24,500 43,870
Master of Professional Accounting (1 year) 41,730 41,730
Singapore University of Technology and Design Undergraduate (4 years) 27,950 60,455
Graduate (1 year) N.A 39,980
Singapore Institution of Technology BAcc (Hon) Accountancy (3 years 4 months) 21,251.47 31,892.35
MEng Tech (1 year) N.A 33,994
Singapore University of Social Science Bachelor of Accountancy 22,000 33,440
Master of Finance (1.5 years) N.A 33,897.60

*The Ministry of Education (MOE) Singapore offers subsidies (Tuition Grant) for international students who study at local public universities. Under this scheme, international students will be required to work in Singapore-registered companies for a minimum period of three years upon graduation.

Therefore, to complete an accountancy Bachelor degree at a public university in Singapore, an international student (Non-MOE subsidies) needs to spend an average of SGD$33,000 *3 = SGD$99,000. Some other degree streams might take four years to complete which could spend higher.

Foreign and International University

Below table provides a further breakdown of the tuition fee for a few universities which offer accounting and finance-related programmes:

All the tuition fees are the full programme fees for 2019 in Singapore Dollar inclusive of local tax
University Programme Duration Tuition fees for International Students
Curtin Singapore Bachelor of Commerce 2-3 Years 51,840
Master of Business Administration (Global) 1 year and 4 months 46,080
ESSEC Business School Global Bachelor of Business Administration 4 years 84,600
Master of Finance 1 - 2 years 37,800
INSEAD Asia Campus Master in Business Administration 1 year 133,884
James Cook University Singapore Bachelor of Business (Accounting) 2 years 57,780
Master of Professional Accounting 1 year and 4 months 50,504
S P Jain School of Global Management Bachelor of Business Administration (Finance) 4 years 115,356
Master of Global Business (Global Finance) 1 year and 4 months 32,410

To complete a Bachelor degree in a foreign and international university in Singapore, the international student tuition fees generally from SGD$51,840 to SGD$115,350 depends on the nature of the course. A master degree’s tuition fee is from about SGD$46,080 to SGD$133,884.

The cost of study in Singapore differs in accordance with the level of study. When it comes to the cost of living, it varies depending on the individual living standard, the average cost for a student could be anywhere from SGD $1,000 to $3,000 monthly.