Chile is a vast and varied country in which you’re just as likely to find arid deserts as snow-topped mountain ranges. It is one of the safest, least corruptible, and economically-advanced countries in Latin America that also offers high-quality education for a much more affordable price than equivalent institutions in Europe, the USA, and Asia. Despite being one of the smallest nations in Latin America in terms of population, it regularly outperforms its neighbors when it comes to higher education – evidenced in the fact that two of the top 10 universities in the most recent QS Latin America University Rankings hail from Chile.
The majority of Chile’s universities and business schools can be found in its capital, Santiago, where around 40% of the total Chilean population resides. It is the economic driver of the country, not only attracting students from the rest of the continent but also from the USA and Europe. With tuition fees increasing more and more in many parts of the world, joining the growing number of international students in this emerging higher education hotspot could be the best decision you ever make.
Frequently Asked Questions
FAQ
How much will it cost to live and study in Chile?
As one of the most prosperous countries in Latin America, living costs in Chile are higher than its neighboring countries – but still lower than many European and Asian countries. International students should budget a minimum of CLP500,000 (US$600) per month, excluding rent. Larger cities like Santiago, Valparaíso, Concepción, and Puente Alto, will be more pricey. Given that both public and private schools in Chile decide their own tuition fees, the cost of doing an MBA in Chile can vary massively – but most business schools charge around EUR€20,000-30,000.
Do I need to get a visa to live and study in Chile?
All international students are required to apply for a student visa to do an MBA in Chile. You will need to provide a valid passport, proof of enrolment, a medical certificate, and a police clearance certificate among other documents. A student visa is valid for a period of 12 months, and you are responsible for filing for renewal before your visa expires. The visa application fee ranges from US$50-150, depending on the country you’re from.
How reputable are universities from Chile?
Chile is one of the most prestigious countries in Latin America when it comes to higher education. Two of the top 10 universities in the most recent QS Latin America University Rankings hail from Chile.
What is the job market like for graduates in Chile?
Chile has a high-income economy and is a leader in Latin America in terms of economic freedom, income per capita, and competitiveness. Although an increasing percentage of the population now holds university degrees, the rate is still lower than in many European and Asian countries. This means a master’s degree or MBA could put you in prime position to secure the top jobs in the country. Note, however, that a high level of Spanish is essential for the vast majority of these roles.
In an attempt to attract and retain highly-educated foreign nationals and skilled workers, the government of Chile offers a Temporary International Orientation Visa for anyone who has earned a postgraduate degree from an accredited Chilean university and would like to work in Chile.
Are there a lot of international students in Chile?
In the Chilean higher education system, there are 61 universities, with over 750,000 students. The number of international students in Chile is growing year on year due to the reasonable tuition fees and living costs, coupled with high standards of teaching.
Did You Know?
Fun Facts About Chile
1
According to the 2021 Global Peace Index, Chile is the second-safest country in Latin America.
2
Chile is home to almost every type of weather and landscape imaginable, from arid deserts to snow-topped mountain ranges.
3
Chile is the fifth-largest exporter of wine in the world. The total vineyard coverage of the country is 126,000 hectares.
4
The coastal city of Algarrobo holds a Guinness World Record for having the world's biggest swimming pool. It is the length of 20 Olympic-sized swimming pools (1,013 meters).
5
In 2010, Chile became the first Latin American country to join the OECD.
Which Visas & permits do in need in Chile
All international students are required to apply for a student visa to do an MBA in Chile. You will need to provide a valid passport, proof of enrolment, a medical certificate, and a police clearance certificate among other documents. A student visa is valid for a period of 12 months, and you are responsible for filing for renewal before your visa expires. The visa application fee ranges from US$50-150, depending on the country you’re from.
In an attempt to attract and retain highly-educated foreign nationals and skilled workers, the government of Chile offers a Temporary International Orientation Visa for anyone who has earned a postgraduate degree from an accredited Chilean university and would like to work in Chile. However, there is a cap of 300 visas granted annually. The visa is valid for one year, after which visa holders may apply for permanent residence in Chile.
Banking in Chile
It can be difficult to open a bank account in Chile as a non-resident. However, some universities have partnerships with banks to offer special international student bank accounts. The best banking option as a foreign national is to contact your home bank and check if they have an international branch or partner bank in Chile. International banks such as BBVA, Banco Santander, Rabobank, and Scotiabank, have a presence in Chile. Fees for ATMs, international transfers, and general banking, vary from bank to bank.
What do I need to know about healthcare in Chile
Chile is a leader in affordable public healthcare in Latin America, offering a form of universal healthcare. As an international student, you are eligible for public healthcare in Chile. However, it is recommended to take out private health insurance to gain access to multilingual staff, newer and cleaner facilities, and shorter waiting times. Because of the added benefits, around 20% of the population of Chile has private health insurance.
While the public healthcare system focuses on primary healthcare, such as disease treatment and prevention as well as the promotion of health and wellness. The private healthcare system, on the other hand, focuses on more specialized services.
Housing options for students in Chile
Most universities in Chile do not offer on-campus accommodation, but it is always a good idea to check as many universities can also help you in your search for off-campus housing. It is advisable to begin looking for accommodation in Chile well in advance, as Chile also has one of the most expensive rental prices in Latin America. You can expect to pay around US$250-300 for a private bedroom in a shared apartment. However, rental prices will vary greatly depending on the house, city, and neighborhood.
You can also choose to live with a Chilean host family to immerse yourself in the local culture and experience traditional Chilean friendliness and hospitality.
What are the public transport options in Chile
Chile has a reliable and modern public transport system. Santiago and Valparaíso have efficient metro systems, while buses and trains connect all major cities and towns. Prices for public transport are also low; fares run from CLP670 (US$0.81) in off-peak hours to CLP800 (US$0.96) in peak hours. Student fares are around CLP230 (US$0.27).
The most popular form of travel between cities is by bus. Several bus companies, such as Turbus and Pullman Bus, offer efficient, clean, and comfortable services, with air-conditioning, comfortable seats, and amenities like onboard screens and meal services.
How much does a Big Mac cost in Chile
The Big Mac Index was invented by The Economist in 1986 as an informal way of measuring the purchasing power parity (PPP) between two currencies. The price of a Big Mac in Chile is CLP3,100 (equivalent to US$3.75, EUR€3.49, and JP¥476). For US$50, you can buy 13 Big Macs.
While the cost of living varies per location, it remains quite affordable to live and study in Chile. International students should budget a minimum of CLP500,000 (US$600) per month, excluding rent. Larger cities like Santiago, Valparaíso, Concepción, and Puente Alto, will be more pricey.
