Ten years ago, studying abroad for a master’s degree was a big decision with limited options and expensive price tags. In 2026, the picture looks different. More countries are offering English-taught programs, tuition costs vary by a factor of 100 depending on where you go, and post-study work visas have gotten more generous in most of Europe and parts of Asia.
The result is that students who only consider their home country or one traditional destination (usually the US or UK) are leaving money and opportunities on the table.
The cost difference is hard to ignore
The median total tuition for a US master’s program is about $62,000. For an Australian master’s, it is similar. The UK runs $25,000 to $35,000. Canada is $15,000 to $25,000.
Then there is the rest of the world:
Germany: most public universities charge zero tuition. Students pay a semester fee of $100 to $400. The DAAD lists over 1,800 English-taught master’s programs.
France: public universities charge about $4,100 per year for non-EU students, per Campus France.
Italy: $3,000 to $7,000 total on a sliding scale based on family income.
South Korea: $6,000 to $12,000 total, with the Global Korea Scholarship covering everything for selected students.
Norway: zero tuition for everyone, regardless of nationality.
These are not obscure institutions. ETH Zurich charges about $1,600 per year and is ranked 7th globally. Technical University of Munich charges zero tuition and sits in the top 30.
What is driving the shift
Three things changed in the last decade:
More English-taught programs. Germany went from a handful of English-taught master’s programs to over 1,800. The Netherlands, Denmark, Sweden, and Finland followed. Students no longer need to learn German or Dutch to study in those countries.
Better post-study work visas. Germany now offers 18 months. The UK introduced a 2-year Graduate Route. Canada’s PGWP gives up to 3 years. These visas turn a master’s degree into a pathway to long-term immigration, which was harder to access a decade ago.
Easier program comparison. Tools like GradsMatch now let students compare 39,926 master’s programs across 27 countries on tuition, test requirements, deadlines, and language of instruction in one search. Before these existed, comparing a program in Seoul to one in Munich to one in Montreal meant visiting three university websites in three languages and converting three currencies by hand.
What students should look at before choosing
The fields that matter most are:
- Total tuition in USD or your home currency. Country averages are a starting point, but individual programs vary widely within the same country.
- Program duration. A one-year UK master’s costs half as much as a two-year US one in total, even if the per-year rate looks similar.
- Post-study work rights. If your goal is to work abroad after the degree, the visa situation should weigh as much as tuition.
- Test requirements. Most European programs do not require the GRE. Skipping it saves $220 and months of preparation.
- Application fees. US programs charge $50 to $150 per application. Many European programs charge nothing.
The bottom line
A master’s degree does not have to cost $60,000. In most of the world, it costs under $10,000, and some of the best-ranked universities in the world charge under $2,000.
The students who benefit most are the ones who compare across borders before committing. The data is available. The question is whether you look at it.
Antoine Pangas is the founder of GradsMatch, a free directory of 39,926 master’s programs across 27 countries.
