For many Hong Kong families, sending a child overseas for university is a long held ambition. The decision involves not only academic preparation but also a clear understanding of the financial commitment. Tuition fees, accommodation, living costs, travel, and insurance add up quickly, and the total varies significantly by country, institution, and city. This article breaks down the costs for the most popular destinations for Hong Kong students and outlines the main sources of funding, including scholarships, government loans, and part time work.
Hong Kong students typically apply through either the JUPAS system for local universities or the non JUPAS route for overseas institutions. The choice between non JUPAS vs JUPAS can affect both the application process and financial planning, as overseas tuition is usually paid upfront in foreign currency. Understanding the full picture of costs and funding is essential before committing to an offer.
Tuition Fees by Destination
Tuition fees are the largest single expense for overseas study. The figures below are for undergraduate programmes in the 2024/2025 academic year, expressed in both local currency and Hong Kong dollars for comparison. All exchange rates are approximate and based on mid 2024 rates.
United Kingdom
UK universities charge international tuition fees that are higher than home student rates. For the 2024/2025 academic year, international undergraduate fees range from 20,000 GBP to 38,000 GBP per year. Russell Group universities and those in London tend to be at the upper end. The University of Cambridge charges approximately 33,000 GBP for arts courses and 38,000 GBP for science and engineering. Imperial College London charges around 37,000 GBP for most engineering programmes. University of Manchester charges between 25,000 GBP and 32,000 GBP depending on the subject. At current exchange rates of 1 GBP to 10 HKD, that translates to 200,000 HKD to 380,000 HKD per year.
United States
US tuition varies enormously between public and private institutions. Public universities for out of state students charge 28,000 USD to 50,000 USD per year. Private universities charge 50,000 USD to 65,000 USD per year. Ivy League schools such as Harvard and Yale charge around 58,000 USD in tuition alone, not including room and board. The University of California system charges out of state tuition of about 44,000 USD. At 1 USD to 7.8 HKD, that is 218,000 HKD to 507,000 HKD per year. Some private colleges such as New York University charge over 60,000 USD, equivalent to 468,000 HKD per year.
Australia
Australian universities charge international students between 30,000 AUD and 50,000 AUD per year for undergraduate programmes. The Group of Eight universities, including the University of Melbourne and the University of Sydney, charge at the higher end. The University of Melbourne charges approximately 45,000 AUD for a Bachelor of Commerce and 50,000 AUD for a Bachelor of Science. At 1 AUD to 5.2 HKD, that is 156,000 HKD to 260,000 HKD per year.
Canada
Canadian undergraduate tuition for international students ranges from 25,000 CAD to 55,000 CAD per year. The University of Toronto charges about 55,000 CAD for engineering and 50,000 CAD for commerce. The University of British Columbia charges around 45,000 CAD for most programmes. At 1 CAD to 5.8 HKD, that is 145,000 HKD to 319,000 HKD per year.
Living Expenses and Accommodation
Living costs vary widely by city and lifestyle. The figures below are estimates for a single student living in university accommodation or private rental, including food, transport, utilities, and personal expenses. These do not include tuition or travel.
United Kingdom
London is the most expensive city. The UK government requires student visa applicants to show funds of 1,334 GBP per month for London and 1,023 GBP per month for outside London. For a nine month academic year, that is 12,006 GBP for London and 9,207 GBP for outside London. University halls of residence in London cost 800 GBP to 1,200 GBP per month. Private rental in shared houses costs 600 GBP to 900 GBP per month outside London. Food costs approximately 200 GBP to 300 GBP per month. A monthly travel pass in London is about 150 GBP for zones 1-2.
United States
Living costs in the US vary by state and city. The College Board estimates average living expenses for undergraduate students at 18,000 USD to 22,000 USD per academic year. On campus room and board at public universities costs 12,000 USD to 16,000 USD per year. Private universities charge 15,000 USD to 20,000 USD. Cities like New York, San Francisco, and Boston are more expensive. A shared apartment in New York costs 1,500 USD to 2,500 USD per month. Health insurance is mandatory and costs 1,500 USD to 3,000 USD per year.
Australia
The Australian government requires student visa applicants to demonstrate funds of 29,710 AUD per year for living costs. University accommodation costs 200 AUD to 500 AUD per week. Private rental in Sydney or Melbourne costs 250 AUD to 400 AUD per week for a room. Food costs 80 AUD to 150 AUD per week. Public transport costs 30 AUD to 60 AUD per week. Total annual living costs range from 25,000 AUD to 35,000 AUD.
Canada
The Canadian government recommends a minimum of 20,635 CAD per year for living expenses outside Quebec, and 27,000 CAD for Quebec. On campus residence costs 8,000 CAD to 15,000 CAD per year. Private rental in Toronto or Vancouver costs 1,200 CAD to 2,000 CAD per month for a one bedroom apartment. Shared accommodation costs 700 CAD to 1,200 CAD per month. Food costs 300 CAD to 500 CAD per month. Health insurance is mandatory and costs 600 CAD to 1,000 CAD per year.
Additional Costs
Beyond tuition and living expenses, students must budget for several one time and recurring costs.
- Visa application fees. UK student visa: 490 GBP. US F-1 visa: 185 USD plus SEVIS fee 350 USD. Australian student visa: 1,600 AUD. Canadian study permit: 150 CAD.
- Health insurance. UK: 470 GBP per year as part of the Immigration Health Surcharge. US: 1,500 to 3,000 USD per year. Australia: Overseas Student Health Cover costs 500 to 700 AUD per year. Canada: provincial health insurance is free in some provinces but private insurance costs 600 to 1,000 CAD per year.
- Travel. Round trip flights from Hong Kong to London cost 5,000 to 8,000 HKD. To New York: 6,000 to 10,000 HKD. To Sydney: 4,000 to 7,000 HKD. To Toronto: 5,000 to 9,000 HKD.
- Textbooks and supplies. 500 to 1,500 USD per year in the US. 300 to 800 GBP in the UK. 500 to 1,000 AUD in Australia. 500 to 1,000 CAD in Canada.
- Miscellaneous. Mobile phone, internet, entertainment, clothing, and personal care add 100 to 300 per month in local currency.
Scholarships and Grants
Scholarships can significantly reduce the financial burden. Hong Kong students have access to several sources.
Hong Kong Government Scholarships
The HKSAR Government offers the Reaching Out Award worth 100,000 HKD per student for overseas exchange or study. The Hong Kong Scholarship for Excellence Scheme provides up to 300,000 HKD per year for students admitted to prestigious overseas universities. Selection is competitive and based on academic merit and leadership. The Talent Development Scholarship offers 10,000 HKD for students with special talents in sports, arts, or STEM.
University Specific Scholarships
Most overseas universities offer merit based scholarships for international students. The University of Cambridge offers the Cambridge Trust Scholarship which covers partial to full tuition. Imperial College London offers the President's Scholarship worth 10,000 GBP. University College London offers the UCL Global Undergraduate Scholarship covering full tuition and living costs. In the US, Harvard, Yale, and Princeton offer need based aid that can cover full demonstrated need for international students. The University of Melbourne offers the Melbourne International Undergraduate Scholarship worth 10,000 to 50,000 AUD. The University of Toronto offers the International Scholar Award worth 10,000 to 100,000 CAD.
Private and Non Profit Scholarships
The Jardine Foundation offers full scholarships for Hong Kong students to study at Oxford or Cambridge. The Sir Edward Youde Memorial Fund offers scholarships for overseas study worth up to 300,000 HKD per year. The Fung Foundation supports Hong Kong students studying abroad with awards of 50,000 to 150,000 HKD. The Hong Kong Jockey Club offers several scholarships for students pursuing undergraduate degrees overseas, typically worth 200,000 to 400,000 HKD per year.
Student Loans and Financing
For families that cannot cover full costs from savings, loans are available from both Hong Kong and overseas sources.
Hong Kong Government Loans
The Extended Non means Tested Loan Scheme (ENLS) provides loans to Hong Kong students studying overseas at accredited institutions. The maximum loan amount is the total tuition fees plus 100,000 HKD for living expenses per academic year. Interest is charged at the rate of 1% per annum above the best lending rate. Repayment begins six months after graduation and can be spread over up to 15 years. The Financial Assistance Scheme for Post secondary Students (FASP) offers means tested grants and loans for students from low income families studying overseas. The maximum grant is 100,000 HKD per year and the maximum loan is 50,000 HKD per year.
Commercial Bank Loans
HSBC, Standard Chartered, Bank of China (Hong Kong), and Hang Seng Bank offer education loans specifically for overseas study. Loan amounts range from 50,000 HKD to 2,000,000 HKD. Interest rates are typically 2% to 5% per annum above the prime rate. Repayment terms range from 5 to 15 years. Some banks offer interest only repayment during the study period. For example, HSBC's Education Loan provides up to 2,000,000 HKD with a repayment period of up to 10 years and an interest rate of 3.5% to 5% per annum.
Overseas Student Loans
In the United States, international students can apply for private loans from lenders such as Prodigy Finance, MPOWER Financing, and Discover Student Loans. These loans do not require a US cosigner and are based on future earning potential. Interest rates range from 6% to 13% APR. In the UK, Future Finance offers loans to international students at rates of 8% to 15% APR. In Australia, Study Loans Australia offers loans up to 100,000 AUD at rates of 7% to 12% APR.
Part Time Work and Internships
Many students work part time to supplement their income. Visa conditions vary by country.
- United Kingdom. Student visa holders can work up to 20 hours per week during term time and full time during holidays. Minimum wage is 11.44 GBP per hour for workers aged 21 and over. A student working 20 hours per week for 30 weeks of term earns approximately 6,864 GBP per year.
- United States. F-1 visa holders can work on campus up to 20 hours per week during term and full time during holidays. Off campus work is restricted but possible through Curricular Practical Training or Optional Practical Training after one academic year. Typical on campus wages are 12 to 18 USD per hour. Maximum annual earnings from on campus work are approximately 6,000 to 8,000 USD.
- Australia. Student visa holders can work up to 48 hours per fortnight during term and unlimited hours during holidays. Minimum wage is 23.23 AUD per hour. A student working 48 hours per fortnight for 40 weeks earns approximately 22,300 AUD per year.
- Canada. Study permit holders can work off campus up to 20 hours per week during term and full time during holidays. Minimum wage varies by province, from 15.50 CAD to 17.40 CAD per hour. Maximum annual earnings from part time work are approximately 12,000 to 15,000 CAD.
Internships and co op programmes can also provide income while building professional experience. Many universities in Canada and the US offer co op programmes that alternate study and paid work terms, allowing students to earn 20,000 to 40,000 CAD per year in Canada or 15,000 to 30,000 USD in the US.
Currency Exchange and Remittance
Managing foreign currency exchange is an important part of budgeting. Banks in Hong Kong charge a spread of 0.5% to 1.5% on exchange rates plus a handling fee of 100 to 300 HKD per transaction. Online platforms such as Wise and Revolut offer lower spreads of 0.4% to 0.6% and faster transfers. For large tuition payments, using a wire transfer from a Hong Kong bank to the university's bank account is standard. Some universities accept payment through Flywire or TransferMate, which offer competitive exchange rates and allow payment in HKD.
Families should budget for exchange rate fluctuations. A 5% movement in the exchange rate against the HKD can change the annual cost by 10,000 to 30,000 HKD. Consider using forward contracts or setting up a regular savings plan in the destination currency to lock in rates.
Budgeting and Planning
A realistic budget should cover all costs for the entire duration of the programme. Most undergraduate degrees are three years in the UK and Australia, four years in the US and Canada. The table below shows estimated total costs for a four year degree in the US and a three year degree in the UK, including tuition, living expenses, travel, and insurance.
Four year US degree (private university, New York City): Tuition 60,000 USD per year (468,000 HKD). Living expenses 22,000 USD per year (171,600 HKD). Travel and insurance 4,000 USD per year (31,200 HKD). Total per year: 86,000 USD (670,800 HKD). Total for four years: 344,000 USD (2,683,200 HKD).
Three year UK degree (Russell Group university, outside London): Tuition 30,000 GBP per year (300,000 HKD). Living expenses 10,000 GBP per year (100,000 HKD). Travel and insurance 2,000 GBP per year (20,000 HKD). Total per year: 42,000 GBP (420,000 HKD). Total for three years: 126,000 GBP (1,260,000 HKD).
Families should start saving early. A regular monthly saving of 5,000 HKD from birth at a 4% annual return yields approximately 1,080,000 HKD by age 18. Using the DSE score calculator and conversion can help students target the grades needed for scholarship eligibility, which can dramatically reduce costs.
Related articles