@hramkhor If you read the post carefully, the cost was for a former student, fees increases every year!Cost, here it is:
2. SP Jain website states the following: A variety of food plans is available. It is normal to spend AED 700 or SGD 500 or AUD 750, per month, towards food and other living costs.
So, in 12 months, expect to spend at a minimum $500 USD/month (the fact that AUD is almost equal to USD, compensates for the lower spend in SGD and AED)
So, this is $500X12 = $6000 = Rs. 3.3 Lakh at today's rate
3. You will need to buy your own tickets:
India - Dubai; Dubai - Australia; Australia - Singapore; Singapore to India : This will cost you at least Rs. 1.5 Lakh
Add around $1000 for Australia visa ($535), Dubai Visa cancellation ($160), smartphone and bills*
($300-500) = Rs. 53,000
*They require you to buy a smartphone and a laptop
That makes it almost Rs. 30 (24+3.3+1.5+0.5) Lakh in cost, without accounting for incidental expenses and the money lost while converting from one currency to another!
Now, why I said Rs. 30-40 Lakh is because most people will depend on loans to fund this 30 Lakh. If you check the interest rates, they are really high, almost 13% and they require payment during moratorium.
So, for the next many years, you'll be paying almost 4 lakh in interest, including the school year! So add Rs. 3-4 lakh to the school year itself.
Even if you fund it with your money, you are losing similar amount in interest.
So, at minimum, you will need Rs. 33-34 Lakh to do this MBA, not accounting for any incidentals and hoping that you will live as stingily as possible. There is a good chance you will also need to spend on travel, for networking etc. when you are looking for jobs.
This is a huge sum of money to spend in a year. Imagine this, if you had a salary of $45,000 USD (which they say is their average), you will only be able to save around $5,000-$10,000 every year if you save aggressively. If you were earning Rs. 16 lakh, you will be able to save only about Rs. 5-6 lakh after taxes and standard living expenses, which will barely pay off the interest.