Austria is one of the cheapest destinations in Europe for studies (€1,455 per year).
If you are a Nigerian who is interested in studying in Austria, this thread is a detailed overview of the processes involved.
Follow the steps in this thread and you will be fine.
The first thing to do is to know the Austrian university you intend to apply to. List of Austrian universities are here. After familiarising yourself with the documents required by your chosen school, take note whether the school requires you to LEGALIZE your documents before applying to them.
Most Austrian schools only accept legalized documents from prospective non-EU students (Nigerians). Only few Austrians schools will accept your applications without you having legalized your documents. So how do you legalize your documents?
If applying from Nigeria, Legalization of your documents for Austrian schools is a three-way process ; you must LEGALIZE your documents at the Ministry of Education, Ministry of Foreign Affairs before legalizing at the Embassy of Austria (All these offices are located in Abuja).
You must begin by legalising your academic certificates at the Ministry of Education first (legalisation of one document could cost about N500.00). After doing this, you will proceed to the Ministry of Foreign Affairs to legalise documents like your birth certificates and other documents.
After this, book an appointment for legalization with the Austrian embassy here. The Austrian embassy is located at No. 9 Usuma Street, Maitama, Abuja. The Embassy of Belgium is in the same building.
On the day of the appointment you will be asked to pay N200k cash for the embassy to do its own legalisation. This process takes some months. The checklist of documents to be legalized in the Austrian embassy can be found in this document about Information on document verification and legalization.
The Austrian embassy will then get a lawyer who will do a thorough investigation and verify the authenticity of all the documents you have submitted. The lawyer might even go as far as even visiting your village to confirm things for him or herself. The lawyer might also interview you and your parents and ask your house neighbours questions too.
If the embassy is satisfied with the feedback from the lawyer’s investigation, your documents will be legalised and you will be contacted to come and collect them so you can start applying to Austrian universities of your choice.
After getting admitted into an Austrian university, to get your visa, You have to prove sufficient financial means to finance your stay: students less than 24 years of age have to prove that they have at least 515,30 Euros per month ;
and students of 24 years of age or older have to prove that they have at least 933,06 Euros per month [as of 2018] – these amounts have to be proved for a maximum of 12 months – e.g. by means of a savings account or a bank account (the account has to be accessible from Austria);
Or you can get a Declaration of Guarantee from a person living in Austria; proof of purchase of traveller’s cheques for the necessary amount; or a confirmation of the award of a scholarship/grant.
If the costs for accommodation exceed 294,65 euros/month, you will have to prove additional funds.