A flight school student on approach to a non towered airport reported a NMAC with an opposite direction departure.

Narrative

While performing a circling maneuver to runway XX on the RNAV RWY approach into ZZZ; our aircraft experienced a near mid air collision with traffic departing from runway XX. Leading up to the incident; myself and the instructor I was with both made positions reports as we entered into the approach at the 10 mile; 5 mile; and 2 mile distance mark from the runway indicating our intentions to circle to runway XX on the RNAV approach. As we began circling to enter the pattern on a left downwind; the departing traffic from runway XX turned left crosswind directly into our flightpath. The indication on the G1000 showed the aircraft 200 ft below our position as we passed each other. Admittedly; in the heat of the moment as I neared minimums on the approach; I had missed hearing the departing aircraft's radio call; however; upon taking my foggles off and performing the circling maneuver; I was reassured by the instructor that the departing aircraft had indicated it would be turning in the opposite direction. Afterwards; once we determined the other aircraft had passed; we continued the maneuver to runway XX and then departed back to ZZZ1.