The purpose of studying Spanish for 500 class hours in China is to make your language ability meet the requirements of visa interview in the embassy, that is, to reach the level of daily communication. These three and a half months of language learning are very important. After you go abroad, you can reach the level of daily communication in language, which is convenient for you to adapt to life abroad quickly. So it's certainly worth it.
Spain's annual living expenses are around 50,000, plus the tuition during the master's period, 200,000 is no problem, less than 280,000.
Spain is a Schengen country, and you can enter and leave other Schengen countries during your study abroad, which greatly improves your personal experience. Broadening our horizons is also of great help to our future development.
I hope your dream will come true soon.