(Note: All financial figures in this section are placeholders and should be finalized by Thakur College management. Actual amounts will be inserted once determined.)
A critical consideration for any academic program, especially one involving international study, is the financial aspect. This section provides an overview of the cost structure for the program, including tuition and fees for the first two years at Thakur College, as well as an estimate of expenses for the two years abroad. These details will help in budget planning for both the college and prospective students.
Tuition and Fees for 2 Years at Thakur College (Years 1 & 2)
Tuition Fee (per year at Thakur College): ₹ [___] per year.
(This covers the cost of instruction for the International Program. The tuition may be set slightly higher than regular degree programs, reflecting the specialized nature and additional resources of this program. However, it is still far more affordable than the tuition at foreign universities for equivalent years.)
Registration and Administrative Fees: ₹ [___] (one-time or annual).
(This includes the cost of enrollment, identity cards, exam processing, use of online resources like the Learning Management System, etc.)
Laboratory/Facilities Fee: ₹ [___] per year.
(Applicable for technology stream students to maintain computer labs, software licenses, and any specialized lab equipment; business students may have a lower lab fee if applicable. The fee contributes to up-to-date infrastructure for quality education.)
Library and Resource Fee: ₹ [___] per year.
(Supports access to textbooks, e-journals, and possibly specialized content or databases needed for the curriculum.)
Examination and Evaluation Fee: ₹ [___] per semester.
(Covers the costs of conducting exams, evaluation, graduation processing for the diploma or transcript after 2 years.)
Miscellaneous Fee: ₹ [___] per year.
(This can include co-curricular activities, computer usage, internet access on campus, student activity fund, etc. Since students are part of Thakur College, they may partake in all facilities and events, which this fee supports.)
Total Estimated Cost for 2 Years at Thakur: ₹ [___].
(This is the sum of two years’ tuition and all fees. Note: This does not include personal expenses like commute, books, etc., which students will bear separately. However, as many students are local or living at home during these two years, their living expenses are minimal compared to living abroad.)
All fees above are subject to revision by the college management. The aim is to keep the program affordable while ensuring enough funds to maintain high standards and provide the additional support services (like international office, counseling, etc.). Scholarships or financial aid: The college may consider offering merit scholarships for top-performing entrants or need-based assistance. If so, criteria and amounts [to be specified]. Additionally, students can apply for education loans for the two-year program if needed, as it is a recognized academic program.
Estimated Cost for 2 Years Abroad (Years 3 & 4 at Partner University)
Once students transfer to the foreign university, they will incur costs as per the fee structure of that university and living expenses in the respective country. We provide below an estimate (in local currency of destination, and approximate INR) for planning purposes:
Tuition Fee at Partner University:
Rider University (USA): US$ [____] per year. (Approximately ₹ [____] per year)
University of the Fraser Valley (Canada): CAD [____] per year. (Approximately ₹ [____] per year)
Royal Roads University (Canada): CAD [____] per year. (Approximately ₹ [____] per year)
University of Canberra (Australia): AUD [____] per year. (Approximately ₹ [____] per year)
(Tuition varies by program and any scholarships. The figures should be updated with current rates. Often, universities charge per credit; the above assumes ~60 credits over 2 years. Partners might also offer a special tuition rate or scholarships for our students, which would be detailed here if applicable.)
Living Expenses:
Housing (Dorm or Apartment rent): ~ [] (USD/CAD/AUD) per month (₹[]).
Food and groceries: ~ [____] per month.
Transportation: ~ [____] per month (some cities have discounts for student transit passes).
Health Insurance: [____] per year (mandatory for international students in all countries; universities usually provide a plan).
Personal expenses (books, clothing, phone, leisure): [____] per month.
(Typically, living costs in Canada and US might range US$10,000–15,000 per year, in Australia AUD 15,000–18,000 per year, depending on lifestyle and city.)
Two-Year Abroad Total:
Tuition Total (2 years): [] (in foreign currency) = ₹[].
Living Expenses Total (2 years): [] (in foreign currency) = ₹[].
Overall Estimated Cost for 2 Years Abroad: ₹ [________].
(This is a ballpark sum combining tuition and living. It helps families plan their financial requirements. It’s also useful to highlight the cost saving: a full four-year abroad would have been roughly double this, which the 2+2 program mitigates
Visa and Travel Costs: Additionally, one-time costs include student visa application fees (e.g., approx ₹[] for US visa including SEVIS fee, ₹[] for Canadian study permit, etc.), airfare (₹[____] one-way). Students should also budget for purchasing a laptop or any required tech if they don’t already have (though most will from the first two years).
Financial Planning Support: Thakur College will assist students in financial planning by:
Providing guidance on education loans (banks often give loans for such programs; students will have admission letters from foreign uni which aid loan approvals).
Advising on part-time work opportunities in the foreign country to offset living costs (students can typically work 20 hours/week which can help cover personal expenses).
Exploring if partner universities have any scholarships for transfer students or merit-based tuition waivers. (For instance, some universities might give a small scholarship for high GPA; any such opportunities will be communicated.)
Note: All above figures are placeholders and subject to change. Students must check the latest fee structure of the partner university at the time of transfer and factor in currency exchange rates at that time. Thakur College’s International Office will provide updated cost info during the counseling in Year 2 so that there are no surprises.
(The college management may insert actual figures or ranges once decided. It’s recommended to revisit these numbers annually to stay current with inflation and currency fluctuations.)
In conclusion, while the investment in this program is significant, it is structured to be cost-effective relative to the alternative of studying all four years abroad. Students and parents should view the expense as an investment spread over four years, with the first half being at a much lower cost in India and the latter half at international rates. Proper financial planning and the support mechanisms in place (like guidance on loans and work-study) will enable students from various economic backgrounds to take advantage of this global program.