Madrid is a treat for people who wish to discover its interesting culture and lifestyle.
It provides a backdrop of rich culture with experiences from the countryside and the beach.
You can easily conclude that Madrid is one of the most visited European countries and a preferred study destination.
One of the most important benefits of studying in Madrid is that the qualifications of most Spain-based schools are acknowledged worldwide.
Madrid offers some of the world’s best training in the field of research, technology, and innovation.
The Oldest University in Madrid:
Universidad Complutense de Madrid was founded in 1293
The Largest University in Madrid:
Universidad Complutense de Madrid with 45000 students
If you are still making up your mind, do study our blog on Everything You Need To Know About The Best Education Loan Scheme
Let us now talk about the cost of living in Madrid, so that you plan well in time and do not miss any important expenditure head.
Important areas to consider a student’s expenditure include:
1. University tuition fees
2. Student accommodation in Madrid
3. Food costs
4. Transportation costs
5. Extra cost
1. University tuition fees
Tuition fees in Madrid depend broadly upon
- The type of higher education institution (private or public) you want to pursue
- Degree type
- The Region where you study
- Your Nationality
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Tuition Fees for Public Universities: There are two types of degrees available:
1. Official degrees fees range from
180 – 3,600 EUR/year for Bachelor’s programmes
310 – 3,700 EUR/year for Master’s programmes
2. University-specific degrees fees range from
The cost solely depends upon the institution, as they are free to set any tuition fee because there are no limits imposed by the authorities.
Tuition Fees for Private Universities: As the name suggests, Private they have higher tuition fees compared to public universities.
- The range for the fees is usually within 21,000 EUR/academic year
- Some programs offered by business schools can cost over 24,000 EUR/year
- MBAs and International Management degrees can cost around 31,000 EUR/year
Listed here are few universities that can be considered before applying:
- Autonomous University of Madrid
- Complutense University Madrid
- Polytechnic University of Madrid
- University of Alcalá
- University Carlos III de Madrid
- University of Navarra
2. Student accommodation in Madrid for international students
Madrid is a very comfortable and affordable city to live in for international students.
To understand the Cost Student accommodation in Madrid , one should know the main housing options available here:
The main housing options for students in Madrid are:
Student residence halls – Typically, it ranges from 380 to 640 EUR/month.
Apartment – This is the most preferred student accommodation option available. Prices range between 250 EUR to 1,000 EUR/month.
You can opt to share your Student accommodation in Madrid with a fellow student to reduce the cost of your expenses. The cost of the apartment also depends upon the region and nearby living conditions.
Rent
Apartment (1 bedroom) in City Centre 955 €
Apartment (1 bedroom) Outside of Centre 650 €
Apartment (3 bedrooms) in City Centre 1,650 €
Apartment (3 bedrooms) Outside of Centre 1,200 €
Basic utilities (electricity, water, heating, garbage): 120 EUR/month
Internet: 35 EUR/month
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3. Food cost
A meal in an inexpensive restaurant will cost around 15 EUR, while a three-course complete meal for two at a mid-range restaurant will cost 40 EUR.
Monthly groceries will cost between 150 and 450 EUR
4. Transportation costs
Public transport is 1.3 EUR per trip
Monthly transport pass is 45-55 EUR.
You can avail major discounts with your travel cards.
AVE: 70 EUR
5. Extra costs
Books, supplies and other learning materials: 930 EUR/year
Special classes with different fees: from 35 EUR to around 250 EUR
Health insurance: between 75 and 185 EUR/year
To give you an overview
| EXPENSE | ESTIMATED COST |
| Meals | $10 – inexpensive meal $40 – meal for two (mid-range restaurant) $35 – weekly grocery bill |
| Monthly rent | $200 – $500 shared room or apartment |
| Utilities | About $70 per month |
| Cell phone | About $11 per month |
| Local transportation | A monthly pass: about $47 |
| Personal expenses | Pair of Jeans: $20 Cappuccino: $2 Movie ticket: $8 |
| Total cost | Expect to spend about $2,500- $3,500 for one semester as cost of living in Madrid after airfare and program fees. |
Important read to study abroad
Guide: Post Study Work Visa in the UK
Pre-Departure Checklist for international travel to save time and money