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Embarking on a Master's in Management (MIM) journey at the National University of Singapore (NUS) is an exciting opportunity that requires careful financial planning.
In this blog post, we will discuss the various aspects of NUS MIM fees, including tuition costs, living expenses, available scholarships, return on investment (ROI), part-time job opportunities, and work-hour restrictions for Indian student visas. By understanding these factors, you can make informed decisions and effectively manage your finances throughout your NUS MIM experience.
NUS MIM Tuition Fees
Tuition fees for the 2024 MIM intake at NUS are $51,000.
NUS MIM fees are an essential aspect to consider when planning for your MIM journey. The NUS MIM program offers two options: the single degree NUS MIM Program and the double degree NUS MSc in Management + CEMS MIM. The NUS MIM fees vary based on the specific degree track and intake year.
For the January 2024 and January 2025 intakes, the NUS MIM fees for the single degree MSc in Management are as follows: Before GST, the fee is $51,000.
1. Single degree
| Fee Component | Cost (S$) |
| Before GST | S$49,000.00 |
| Inclusive of 9% GST, with effect from 1 Jan 2024 |
S$53,410.00 |
2. Programme fee for the double degree
| Fee Component | Cost (S$) |
| Before GST | S$59,000 |
| Inclusive of 9% GST, with effect from 1 Jan 2024 |
S$64,310 |
The NUS MIM tuition fees cover the full length of the 15-21-month program and are not affected by your chosen exit point.
Navigating Living Expenses in Singapore
When planning for your NUS MIM program journey, it's essential to consider your living expenses in Singapore. These expenses include accommodation, food, travel, healthcare, personal expenses, and communication. Here's a breakdown of estimated monthly living expenses for international students:
1. Accommodation
Accommodation is a key component of living expenses for NUS MIM students. Options include on-campus housing, with monthly costs ranging from S$900 to S$1,800. Off-campus choices include renting a room in a public housing apartment (S$700 to S$1,000 per month) or a private apartment (S$1,000 to S$2,000 per month).
2. Food
Food expenses are an important part of living expenses. The estimated monthly cost for meals can range from S$300 to S$800, depending on individual eating habits, dietary preferences, and whether students choose to cook their own meals or eat out.
3. Transportation
The cost of transportation within Singapore should also be considered. Students can use buses and trains for convenient and affordable travel. The estimated monthly transportation expenses range from S$80 to S$200, depending on the frequency of travel and the distance covered.
4. Utility Expenses
In addition to accommodation and food, utility expenses should be factored in. Utility bills typically include electricity, water, gas, and internet. The monthly costs for utilities can range from S$100 to S$300, depending on factors such as the type of accommodation, individual consumption, and the number of roommates.
Here is the table of the NUS MIM fees and expenses:
| Expense | Amount (Annually) |
|---|---|
| Tuition Fees | S$53,410.00 |
| Accommodation | S$10,800 - S$48,000 |
| Food | S$3,600 - S$9,600 |
| Transportation | S$960 - S$2,400 |
| Utilities | S$1,200 - S$3,600 |
Scholarships & Financial Aid to cover NUS MIM Fees
Scholarships play a significant role in supporting students' educational journeys, and the NUS MIM program offers various scholarships and study awards to outstanding applicants. These financial aids can help alleviate the financial burden and make pursuing the program more accessible. Here are some of the scholarships available for prospective NUS MIM students:
- NUS MIM Study Awards
- Dhanabalan Scholarship
- NUS Global Merit Scholarship
- NUS Merit Scholarship
- NUS Sports Scholarship
- NUS Performing & Visual Arts Scholarship
- ASEAN Undergraduate Scholarship
- Temasek Foundation – NUS College Sunburst Scholarship
- NUS College International Scholarship
- NUS Graduate School Scholarships
Financial aid & loan options
The National University of Singapore (NUS) offers a variety of financial aid schemes designed to help meet a portion of the educational and living expenses of financially needy students in the form of loans, bursaries, grants, and work-study opportunities. These schemes are administered by the Office of Financial Aid (OFA).
Opportunities for Part-Time Work
To support their studies and gain practical experience at(one of the best MIM colleges in Singapore), NUS MIM students may explore part-time job opportunities. Singapore allows international students to work part-time for up to 16 hours per week during term time and full-time during vacations. Meanwhile, income from part-time jobs can contribute to living expenses.
It's important for students at this prestigious institution to strike a balance and prioritize academic commitments.
- NUS MIM students have the option to explore part-time job opportunities after MIM colleges in Singapore to support their studies and gain practical experience alongside their academic pursuits.
- International students are allowed to work part-time for up to 16 hours per week during term time and full-time during school breaks and vacations. This flexibility enables students to manage their workload effectively.
- Income from part-time jobs can help cover living expenses such as accommodation, food, transportation, and personal expenses. It provides an additional source of financial support and reduces reliance on other funding options.
- Engaging in part-time work offers valuable opportunities to apply theoretical knowledge from the NUS MIM program in real-world settings. Students can gain practical experience, develop essential skills, and expand their professional networks.
- While part-time jobs can provide financial benefits, students must strike a balance between work and academic commitments. Prioritizing academic success is crucial to fully benefiting from the NUS MIM program and achieving the desired career outcomes.
Understanding the legalities
Admission to the National University of Singapore (NUS) Master in Management (MIM) program involves adherence to specific legalities and requirements.
It's essential to review and understand the admission guidelines provided by NUS to ensure a smooth application process. While the information below is based on general practices and may evolve, it can give you an idea of the typical legal aspects involved in pursuing an NUS MIM degree:
- Indian students holding a Student's Pass in Singapore are subject to specific work-hour restrictions.
- They are permitted to work part-time for a maximum of 16 hours per week during term time.
- During holidays or vacation periods, Indian students with a Student's Pass have the flexibility to work full-time.
- This allows them to utilize their free time effectively and potentially earn more income.
- Adhering to these work-hour restrictions is crucial to maintaining compliance with the student visa requirements.
Conclusion
Considering the NUS MIM program, it's crucial to understand the various financial aspects involved, such as NUS MIM fees, living expenses, available scholarships, ROI, part-time job opportunities, and visa work hour restrictions. Careful financial planning will enable you to make the most of your NUS MIM experience without compromising your academic progress and personal well-being. By considering these factors, you can confidently pursue your academic goals at NUS while managing your finances effectively.
