Overseas study guide: Comparing the four major study destinations for Hong Kong students!

2024-07-26

5 Mins Read

Four major overseas study hotspots | Key considerations for studying abroad
Main coverage areas of overseas study insurance | How AXA SmartStudent Overseas protects you

As parents, the desire for children to thrive is paramount. Studying abroad not only broadens horizons and enhances language skills but also helps uncover limitless possibilities of children’s life, laying a solid foundation for their future development. For these reasons, an increasing number of parents are considering sending their children to study overseas.

Choosing a study destination is a significant decision for families, often becoming a major dilemma. This article consolidates educational information, advantages, and disadvantages of the four major overseas study hotspots for Hong Kong students— the United States, Australia, Canada, and the United Kingdom— to assist parents and children in making the best choice.

Studying in the United States

Educational overview: The US boasts a diverse higher education system, including public universities, private colleges, and community colleges, offering a wide range of courses that attract students worldwide.

Tuition fees: University fees vary widely, annual fees typically range from USD 20,000 to USD 60,000, depending on the institution and state.

Living expenses: Costs vary by region, annual living costs are around USD 15,000 to USD 30,000, including accommodation, food, transportation, and daily expenses.

Application process: Requires the result of SAT or ACT, high school transcripts, recommendation letters, and personal statements. Specific requirements vary by institution.

Visa: F-1 student visa is required, typically applied for after receiving an offer from a school.

Insurance requirements: The US does not offer universal healthcare. Overseas students can choose to purchase student health insurance through their school or independently.

Advantages:

Renowned institutions: According to the 2024 QS World University Rankings, 16 of the top 50 universities are in the US.
Flexible academic system: Students generally take common courses in the first year before choosing their major in the second year, allowing them to make informed decisions.

Disadvantages:

Most US university programmes are four years, with some taking longer. Tuition is also relatively high.
Graduates needing an H-1B work visa may face a lengthy application process, which can take several years.

Studying in Australia

Educational overview: Australia is home to several world-class universities offering diverse academic courses and research opportunities.

Tuition fees: Annual fees typically range from AUD 20,000 to AUD 45,000, depending on the course and university.

Living expenses: Annual living costs are around AUD 20,000 to AUD 35,000, depending on the city and student lifestyle.

Application process: Requires high school transcripts, proof of English language proficiency (such as IELTS or TOEFL), personal statements, and recommendation letters.

Visa: Students need to apply for the Subclass 500 student visa.

Insurance requirements: Mandatory Overseas Student Health Cover (OSHC).

Advantages:

Lower tuition fees and entry requirements.
Strong reputation in fields such as business, finance, veterinary science, and healthcare.

Disadvantages:

Although entry requirements are lower, graduating can be challenging.

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Studying in Canada

Educational overview: Canada offers a high-quality education system with universities and colleges providing a wide range of academic programmes.

Tuition fees: Annual fees typically range from CAD 15,000 to CAD 35,000, depending on the institution and course.

Living expenses: Annual living costs are around CAD 10,000 to CAD 15,000, depending on the city and student lifestyle.

Application process: Requires high school transcripts, proof of English language proficiency (such as IELTS or TOEFL), personal statements, recommendation letters, and application fees.

Visa: Students need to apply for a study permit.

Insurance requirements: Students must have valid insurance.

Advantages:

Comprehensive social welfare and health insurance policies and stable economy.
Higher chances of local employment and immigration opportunities post-graduation.
Flexible study models allowing easier course changes.

Disadvantages:

Longer programmes (four years) with higher entry requirements (many subjects require a Best 5 score of 20 or more).

Studying in the United Kingdom

Educational overview: The UK offers rich academic resources and diverse higher education institutions, including universities and colleges, with 7 universities in the global top 50.

Tuition fees: Annual fees typically range from £15,000 to £25,000, depending on the institution and course.

Living expenses: Annual living costs are around £10,000 to £20,000, depending on the city and student lifestyle.

Application process: Requires high school transcripts, proof of English language proficiency (such as IELTS or TOEFL), personal statements, recommendation letters, and application fees.

Visa: Students need to apply for the Tier 4 (General) student visa.

Insurance requirements: Mandatory National Health Service (NHS) coverage.

Advantages:

Shorter programmes (most bachelor's degrees are three years, potentially extending to four with internships).
Most universities offer guaranteed accommodation for first-year students.
High international recognition of qualifications.

Disadvantages:

Relatively high tuition fees.
Difficult to change courses, requiring a clear study direction.

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Key considerations for studying abroad

Quality of education and international rankings: Different countries have varying education systems and levels of prestigious institutions. Reference main ranking lists like QS World University Rankings and Times Higher Education World University Rankings, which evaluate factors such as academic reputation, teaching quality, research performance, and more, providing crucial information for applicants.
School resources and facilities: The quality of on-campus resources and facilities, such as libraries, laboratories, state-of-the-art research facilities, and overall campus amenities, directly influence the quality of a student’s academic work, learning experience and ability to engage with campus culture.
Alumni network and employment opportunities: Leading universities often have extensive alumni networks. The achievements and professional connections of alumni can significantly support graduates' future career development. Additionally, the employment support services provided by universities, such as career guidance, internship opportunities, and access to alumni networks, can greatly influence graduates' job prospects.
Campus location: The choice between urban and rural settings can have significant impacts on their lifestyle, costs, and learning environment. In general, cities offer more cultural activities and job opportunities for students, while rural areas tend to have lower living costs.
Overseas study insurance: Insurance is an essential part of studying abroad. Some countries, such as Australia, required international students to purchase Overseas Student Health Cover (OSHC) to cover basic medical expenses. However, basic health insurance may not suffice for the myriad uncertainties of living abroad.

Even if a country or school does not mandate it, parents should consider purchasing comprehensive overseas study insurance for their children. This additional coverage can provide protection for medical, accident, property, travel, and third-party liability. Having this insurance is crucial to ensure students are protected not only during their academic studies, but also during internships, part-time jobs, and leisure travel, in order to deal with emergencies and risks that may be encountered while studying abroad.

Planning to study abroad?
We have your back. Buy online now and enjoy comprehensive protection for your overseas study journey.

Main coverage areas of overseas study insurance

Medical coverage: Includes medical, hospital, surgical expenses, and emergency medical transport. For example, AXA SmartStudent Overseas offers up to HKD 2,000,000 in medical coverage, including up to HKD 250,000 for follow-up treatments within 90 days after returning to Hong Kong.
Personal accident coverage: Covers compensation for accidental death or disability. For instance, AXA SmartStudent Overseas provides up to HKD 1,500,000 accidental death or permanent disablement cover, including incidents involving riding on a common carrier, kidnap or natural disaster.
Property coverage: Protects personal belongings such as phones and laptops. AXA SmartStudent Overseas offers up to HKD 20,000 coverage for worldwide personal belongings (excluding Hong Kong) and up to HKD10,000 for overseas home contents.
Legal liability coverage: Covers legal liabilities for third-party injuries or property damage. AXA SmartStudent Overseas covers legal liability of the insured student towards third party for accidental injury or property damage, as well as any associated legal costs and expenses.

Planning to study abroad?
We have your back. Buy online now and enjoy comprehensive protection for your overseas study journey.

Preparing early to ensure a smooth journey

Studying abroad is a significant challenge for both parents and children. Students may feel anxious and stressed before departure, while parents want to reassure their children of their constant support.

Even from afar, overseas study insurance can provide real-time, comprehensive protection for children. It includes not only common health and accident insurance, but also covers property loss and legal liability, offering a necessary safety net for students abroad. AXA aims to be the best companion for students studying overseas by ensuring that they have the necessary protection from the moment they leave home for overseas study until they return to Hong Kong, allowing them to study with peace of mind, gain new experiences, and create unforgettable memories.

How AXA SmartStudent Overseas protects you?

Wide age bracket: We cover a broad age group, from 10 to 35.
Market-leading coverage: Up to HKD2,000,000 of medical expenses, including HKD250,000 for follow-up treatments in Hong Kong.
Extensive personal accident protection: Up to HKD1,000,000 accidental death or permanent disablement cover, plus additional compensation up to HKD500,000 if the accident is resulted from riding on a common carrier, kidnap or natural disaster; for accidental broken bones, the compensation is up to HKD30,000; and a separate education fund* up to HKD300,000.
Point-to-point protection: We cover not only at the city of study, but also anywhere overseas the student takes internship, non-manual part-time job and leisure travel during the study trip.
Full belongings cover: Up to HKD20,000 coverage for personal belongings and up to HKD10,000 for overseas home contents.
A roof over your head always: Up to HKD 5,000 temporary accommodation expense when your overseas residence accidentally becomes uninhabitable.
Timely cash support: Get up to HKD2,000 when your school closes unexpectedly for more than 3 consecutive days.
Worry-free experience: All benefits we provide are free of any excess or deductible.

*Education fund is a subsidy to enable the continuation of education in the event that the insured student’s parent/guardian suffers from accidental death or permanent disablement.

Insurance plans vary in coverage and are subject to their respective terms and conditions. For detailed terms and conditions of the plan, please refer to the relevant product brochure and policy contract.

No warranty or responsibility is assumed by AXA Hong Kong and our related or holding companies regarding non-infringement, security, accuracy, completeness, adequacy, reasonableness, fitness for a purpose or free from computer viruses in connection with the information and materials provided. AXA Hong Kong and our related companies and holding companies do not accept any liability for any loss, damage, cost or other expense, whether wholly or partially, directly or indirectly, arising from any error, inaccuracy or omission of the information and materials to the extent that such liability is not excluded by law.

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AXA SmartStudent Overseas

Whether your plan to study in America or explore Europe as part of your academic programme, studying abroad will change your life. Yet your educational journey is not without risks. As one of the largest insurer in the world, AXA gives you the peace of mind you need to learn, make new friends and build lasting memories. Be prepared to have the time of your life, our SmartStudent Overseas Insurance will take care of the rest.

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