Managing a budget is obviously a question of balancing your available financial resources with your expenses. You may have financial support from your parents, or scholarships. However, these resources are not always sufficient to cover all your expenses. Anticipation, good planning, prioritizing your expenses and good management are therefore essential. A well-managed budget will enable you to focus on what’s most important: your studies!
How much does it cost to study at EPFL?
Please find here our estimated budget based on the cost of living around the campus.
How do you draw up a budget?
The biggest expenses are:
- housing
- food
- insurance
You can draw up a monthly budget in the form of a 2-column table in which you put your incompressible expenses on the left and your resources on the right. You can use this Excel table (in French) as a template. You will know how much of your budget can be spent on extras, and whether you’ll need to find a student job.
Bills are sometimes issued quarterly or half-yearly. It is a good idea to factor them into your monthly budget, dividing by 12. In this way, you can set aside the amount you need to pay each month.
Student jobs and other resources
While some student assistant jobs are well suited to your studies at EPFL, other jobs can be very tiring: irregular working hours, travel, on-call work, etc. are not always compatible with student life. As the study load is heavy during the semesters, we recommend that you opt for the first option, or take up this type of job during the academic vacation periods.
Find out more about finding a job here.
Tips and tricks for saving or keeping a balanced budget
- Plan your annual and monthly expenses
- In the event of unforeseen circumstances, take the time to prioritize and even plan your payment schedule. It’s often possible to request payment arrangements for occasional bills.
- When it comes to food, plan your meals on a weekly basis and define when you eat on campus or prepare your own meals.
- Draw up a grocery list based on your planned meals. This will help you avoid spending on food that is likely to be thrown away.
- Take a look at the discounts.
- Think about recycling and look at what is available in 2nd hand stores.
You’ll find more ideas for “discounts and good deals” here.
Avoid debt
Planning your spending, anticipating your job search and paying your bills on a regular basis are all ways of avoiding a stressful situation that could affect the smooth running of your studies.
If you find yourself in debt, react quickly! If you need advice or a helping hand, our social consultation team is available to advise you by appointment. Depending on conditions, emergency scholarships may be granted to help you get out of this situation.
Ressources
Meet an advisor
Social advisors are available to offer you support, work with you to find personalized solutions and refer you to the right specialists if necessary.
Financing your studies
Although tuition fees are reasonable at EPFL, the cost of living is high in Switzerland. It is important to establish a budget for the entire duration of your studies: plan for approximately 30’000.- CHF per year to cover your expenses.