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A new study by HSBC compares what international students pay, in U.S. dollar equivalents, at the largest institutions in various countries. Using this method, Australia is the most expensive, with an average cost (including living expenses) of $38,516. The U.S. is the second most expensive, at $35,705, followed by Britain at $30,325. Of the countries examined, Germany was the least expensive, at $6,285.