Estimated Cost to Study MBBS Degree in India

Child Plan 297 views

MBBS is one of the most preferred and sought after study option among those students who have taken biology as a subject in their intermediate class. Every year more than 5 lakh students compete for mere 15,000 seats offered by various government medical colleges. The competition to grab a seat in these colleges is really high and securing a seat in prestigious government medical colleges is tough. The fee of government colleges or state government colleges is comparatively lower than the private medical colleges. However, what matters is getting a medical degree from any reputed medical college. The students preparing for the entrance exam must make a goal to get admission in the best medical colleges. For the students planning to study in India the following are the best options:

Top 10 Medical Colleges in India

1. All India Institute of Medical Sciences (AIIMS), Delhi
2.Christian Medical College (CMC), Vellore
3. Armed Forces Medical College (AFMC), Pune
4. Maulana Azad Medical College (MAMC), New Delhi
5. Grant Government Medical College, Mumbai
6. Lady Hardinge Medical College, New Delhi
7. King George’s Medical University (KGMU), Lucknow
8. Kasturba Medical College, Manipal
9. University College of Medical Sciences & GTB Hospital, New Delhi
10. Bangalore Medical College, Banglore

(Source: India Today)
Getting a medical degree from an Indian university is cheaper as compared to foreign universities. The cost to complete five and a half year long course from any government medical college is within the reach of common people. But, if you are thinking to pursue the medical degree from any of the private medical colleges you have to pay a hefty amount to get your degree. The fees for the same course may vary from college to college. Therefore, you should calculate estimated course tuition fee, living cost and other costs along with your available funds. As there are limited seats in the government run colleges, getting a degree from a reputed private college in India or from abroad are the alternates for those who are passionate about the career.

People Also Look For  Some Useful Tips to Get the Best Education Loan

Focusing on the students who are planning to pursue the MBBS degree from India, here is the estimated cost to study in any of the government/private medical colleges:

Cost of MBBS in India

The main expenses include –

Tuition Fee + Hostel Fee/Private accommodation + Food + Books/stationary + Travelling Cost + Personal expenses + Medical expenses+ Miscellaneous

Tuition Fee: The tuition fee for government/state government colleges may vary from ₹5,000 to ₹30,000 per year. This way you will pay somewhere around ₹15,000 to ₹1,00,000 for completing your medical degree from any reputed government and state government medical college.

Although the fee for private medical colleges are rocket high and you need to pay a good amount as tuition fee to these colleges. The fee might vary for different colleges. Some colleges might charge you somewhere around ₹1 lakh per semester or per year and other might charge you ₹3 lakh to   ₹5 lakh per annum/per semester. This way the fee for a five and half year programme could be ₹5 lakhs to ₹30 lakhs depending upon the college.

Hostel Fee: If you are an out station student in such case you need a hostel stay, but in most of the colleges the hostel accommodation is served on first come first served basis. Therefore, if you are lucky enough to get a hostel accommodation in Government College then you will pay ₹10,000 to ₹30,000 as hostel fee per year. However, the hostel charges in private colleges vary as per the selected accommodation and facilities. You can pay from ₹1 lakh to more than that per year for accommodation.

People Also Look For  Education Loan Interest Rates of Top 10 Government Banks in India

If you are searching some private accommodation, then the rent or fee depends upon the locality, and type of accommodation you have selected. You are living in shared accommodation, looking for an independent flat or apartment. Therefore, the rent for private accommodation varies for different states and localities.

Food: If you are staying in hostel accommodation at times the food charges are also included in your hostel fee and if not in that case also you need to pay a nominal fee for food in your hostel. The fee for food could range between ₹3,000 to ₹5,000 per year. But in private colleges, it might be somewhere between ₹10,000 to ₹20,000 per year.

Books & Stationery: Books and stationery cost for the course could be somewhere around ₹10,000 to ₹15,000 per year depending on how many books and reference books you are buying or get issued from the library. This cost mainly depends upon the students and number of books and reference books they are purchasing.

Travelling cost: If you are staying far away from the college in such case you should also include the travelling cost. You will be commuting via local bus, college bus, metro, local train, auto or will buy your two-wheeler or four-wheeler to commute. So the travelling cost may vary as per your location and travelling habits.

Personal Expenses: This is something which totally depends upon your lifestyle. This is kind of your monthly spending budget on your food and entertainment and other personal needs. Therefore, this cost may vary person-to-person.

People Also Look For  Everything About Your Education Loan

Medical and miscellaneous expenses: This is something really necessary for those students who are living alone. You should keep a safe budget of ₹10,000 to ₹20,000 in your account as an emergency fund, which you can use in medical emergency and other unavoidable urgent reasons.

Personal Loan Interest Rates December 2017
Bajaj Finserv 10.99% - 16.00%
Fullerton India 14.00% - 33.00%
HDFC Bank 10.99% - 20.70%
ICICI Bank 10.99% - 18.40%
IndusInd Bank 12.99% - 20.00%
Kotak Bank 10.99% - 17.99%
RBL 14.00% - 18.00%
Standard Chartered Bank 10.99% - 14.49%
Tata Capital 11.49% - 18.00%
Home Loan Interest Rates December 2017
State Bank of India/SBI 8.30% - 8.60%
HDFC 8.35% - 8.95%
Bank of Baroda 8.30% - 9.30%
LIC Housing 8.35% - 8.70%
PNB Housing Finance 8.35% - 8.70%
ICICI Bank 8.35% - 8.85%
Axis Bank 8.35% - 8.75%
Citibank 8.60% - 9.35%
Indiabulls Housing Finance Limited 8.35% - 8.55%
Kotak Bank 8.35%
EMI Calculator