Studying abroad is a dream for countless students, offering the promise of global exposure, personal growth, and enhanced career opportunities. However, financial constraints often play a decisive role in determining whether this aspiration can become a reality. Fortunately, several European countries like Finland, Denmark, and others like Taiwan have emerged as attractive alternatives by providing world-class education at much more affordable rates.
These countries not only offer high academic standards and internationally recognized degrees but also a vibrant cultural experience, making them ideal choices for students seeking quality education without a hefty price tag and a chance to study abroad for just under 5 lakh INR.
Top 5 countries to study abroad under 5 lakh INR
Here are the top five countries that provide affordable education, fulfill your dreams, and offer global exposure:
Finland
Finland offers international students a high-quality, student-focused education system known for innovation and practical learning. Courses encourage critical thinking and collaboration. Students benefit from a multicultural environment, gaining global perspectives and valuable skills. Finnish degrees are respected worldwide, helping graduates succeed in diverse, competitive, and interconnected global job markets.
- Average Tuition Fee: ₹10,000
- Average Living Cost: ₹8,00,000
- Post Study Work Visa: 2 Years
Finland offers several university-wide generous scholarships for international students, and one of them is:
Aalto University Scholarship Program: Merit-based, covering 50–100% of tuition fees
- Open to non-EU/EEA citizens who must pay tuition fees.
- Available for bachelor’s and master’s degree applicants in English-taught programs.
- Scholarships are merit-based and highly competitive, awarded to top applicants based on academic excellence.
- Apply for the scholarship at the same time as your degree application—no separate process later.
Taiwan
Taiwan’s education system is known for excellence in science and mathematics, with students ranking high in global assessments. It also offers flexible academic and vocational pathways, attracting international students seeking specialized, high-quality education.
- Average Tuition Fee: ₹3,00,000
- Average Living Cost: ₹6,00,000
- Post Study Work Visa: 1 Year
Taiwan offers several prominent scholarships:
MOE Taiwan Scholarship: Covers up to NTD 40,000 per semester for tuition and provides a monthly stipend (NTD 15,000 for undergraduates, NTD 20,000 for postgraduates).
Eligibility:
- Should be non-Taiwanese citizens.
- A high school diploma is required for undergraduate entry, a bachelor’s degree for master’s, and a master’s for doctoral programs.
- Strong academic performance and good character are expected.
- Admission requirements of the chosen accredited university and program in Taiwan need to be satisfied.
- Application must be for a degree program taught fully in English or Chinese (language proficiency proof may be necessary)
Many universities offer merit-based awards for international students that you can grab.
Denmark
Denmark is a leading study abroad destination under 5 lakh INR, offering over 600 English-taught programs at top universities known for innovative teaching and strong industry connections. Students enjoy opportunities for internships and a collaborative learning environment. While tuition is free for EU/EEA and other countries’ students.
- Average Tuition Fee: ₹0
- Average Living Cost: ₹8,00,000
- Post Study Work Visa: 3 Years
Denmark provides a wide range of scholarships for international students, including:
Danish Government Scholarship: Fully funded for master’s students, covering full tuition fee waiver and a living grant of DKK 6,090 per month.
Eligibility:
- Citizens of a country outside the EU, EEA, or Switzerland.
- Admitted to a full-time master’s degree program at a Danish university.
- Eligible to pay tuition fees (not holding rights as a Danish citizen or certain Danish residence permits).
- Meet English language requirements (e.g., IELTS 6.5, TOEFL 88, or equivalent).
- Hold a relevant bachelor’s degree from an accredited institution.
- Granted a time-limited residence permit for studies in Denmark.
- Scholarships are merit-based, awarded to top academic performers.
Erasmus Mundus/Joint Master’s Degree: Open to both EU/EEA and non-EU/EEA students, covering tuition and living expenses for select master’s programs.
Eligibility:
- Open to students worldwide (EU/EEA and non-EU/EEA).
- Bachelor’s degree (or equivalent) required; final-year students can apply if graduating before the program starts.
- Good English proficiency proof required.
- Cannot have previously received an Erasmus Mundus scholarship.
- Selection is based on academic excellence, motivation, and recommendations.
Spain
Spain is a popular study abroad choice for its affordable tuition, vibrant culture, and growing number of English-taught programs. Students benefit from a high quality of life, diverse academic options, and opportunities to learn Spanish for global careers.
- Average Tuition Fee: ₹1,00,000
- Average Living Cost: ₹9,00,000
- Post Study Work Visa: 1 Year (lesser duration)
Spain offers several scholarships for international students, such as:
Spanish Government Scholarships (Becas MAEC-AECID): For postgraduate and doctoral studies, covering tuition and living expenses.
Eligibility:
- Not a Spanish national and do not have a Spanish NIE (foreigner ID).
- No dual nationality with any EU country.
- Must hold a valid passport from an eligible country (mainly Latin America, Africa, Asia, the Middle East, and the Philippines).
- Not residing in any EU country, including Spain, at the time of application.
- Meet specific requirements for the chosen scholarship program (e.g., public employee status for some master’s, musical background for music scholarships).
Luxembourg
Luxembourg attracts international students with its innovative academic programs, modern research facilities, and close ties to major European institutions. Its central location provides easy access to neighboring countries, while small class sizes ensure personalized attention and strong support for each student’s academic journey.
- Average Tuition Fee: ₹38,000
- Average Living Cost: ₹10,00,000
- Post Study Work Visa: 1 Year (lesser duration)
Luxembourg provides a variety of scholarships:
Government-Funded Scholarships: Get €10,000 per academic year (up to 2 years) for a master’s degree.
Eligibility:
- Open to international (EU and non-EU) Master’s applicants.
- Programmes with a mandatory semester or year abroad are not eligible.
- Requires excellent undergraduate academic performance.
- Full-time students only.
- Not available to those already receiving Luxembourg State Financial Aid for Higher Education (formerly CEDIES).
Studying abroad under 5 lakh INR is possible with the right planning, scholarship applications, and support from platforms like Study Abroad and Edunirvana. Countries such as Finland, Taiwan, Denmark, Spain, and Luxembourg offer world-class education, global exposure, and vibrant cultural experiences without a hefty price tag. Start your journey today and unlock a world of opportunities.
