For most students, studying abroad was one of their best experiences. On the other hand, most of those who haven’t will offer you all the excuses they can think of for why they sadly never went. The most prevalent obstacle to studying abroad is still the whole expense, but it doesn’t have to be that way. Some people will point to stringent degree requirements and scheduling difficulties.
The cost of studying abroad is a valid concern, although the question “how much to study abroad?” is frequently overblown and misinterpreted. And it makes sense—easy it’s to understand how any specific sums may be lost in translation between the various study abroad program fees, the types and amounts of financial aid granted by your home university, and the actual costs of living abroad.
Everyone ought to be able to realize their ambition of seeing the world and residing somewhere else. The following information will get you started on the path of studying abroad:
The average cost of study abroad programs
Putting a price on studying abroad might be detrimental since it hides the stark differences in expenses across various destinations and programs. Additionally, there is no general agreement on the true expense of studying abroad; estimates on the matter vary greatly.
However, there are some credible statistics available that may be of use. Researchers have found that the average cost of attending a foreign university while studying abroad is roughly $18,000 per semester or $36,000 for the entire academic year. Other measures make better use of the range; for instance, the average cost of studying abroad in the UK is between $8,000 and $21,000.
The final cost will be significantly lower or greater depending on adding various external elements. Another simple illustration: Attending a private institution in Europe will cost far more than attending a university in an affordable nation like India, where tuition is only a few thousand dollars. This is why it’s crucial to properly investigate the variables affecting your particular route to come up with an estimate.
What the cost to study abroad covers
Not only should the cost of studying abroad be considered, but also what is and isn’t included in the overall program cost? Here is the greatest explanation of what the cost of studying abroad entails.
1. Tuition
Tuition is, by far, the biggest outlay for the majority of study abroad programs. Whether your university or another organization offers a program, the tuition will vary according to the program and the money your host institution will get. Even as an international student, several nations have excellent public education systems and will charge you relatively little. Others, including the United States, United Kingdom, and Australia, can be expensive.
2. Housing
After tuition, living expenses like rent, food, and entertainment can add to a significant sum. Many study abroad programs will cover this cost as part of the upfront program costs, whether you are staying in a homestay or dorms with meals included or not. If not, you should start looking for a cheap place to live in your host city as soon as possible and figure out how much money you’ll need to set aside for other required expenses.
3. Transportation
Travel expenses will be the final significant cost to take into account. Some programs will cover the expense of your travel to the host nation, while others won’t. It would be best if you were certain that you are aware in advance of what your program fees will cover.
In addition to the main flights to and from your study abroad destination, you also need to remember that you’ll probably use public transit regularly and make some side trips while you’re abroad. Depending on the economic state of your host nation, these expenditures (as with rent and other everyday expenses) are significantly less expensive in some regions of the world than in others.
Many colleges can assist with tuition rollover so that you won’t be charged twice; as a result. You might find that studying abroad is even less expensive than studying at home.
4. On Going, On the Ground Support
Nobody wants to wake up in the middle of the night vomiting their brains out (ever). Still, it’s especially bad if you’re traveling alone in a strange country, have poor language and communication skills, and have no idea where the nearest hospital is. Although this is a terrible example, it highlights the importance of paying for continuing local support while traveling. You’ll have many point people to contact in case of a medical emergency, theft, confusion, etc. They can help direct you in the correct direction.
Support can take many forms, such as holding your hand when an IV is inserted into your arm at the hospital or recommending the greatest place in town for dumplings or empanadas. Although it’s difficult to put a price tag on their round-the-clock assistance, you’ll find it invaluable while studying abroad and priceless when you truly need it.
How to pay for study abroad
The first thing you should consider while creating a budget and financial plan for your study abroad trip should be scholarships. Thousands of grants and scholarships are available each year. These include a fund provided by colleges, government agencies, non-profit organizations, and other private foundations.
Crowdfunding is an excellent option for a shorter study abroad trip, like a summer extracurricular program.
Last but not least, using one’s own two hands to labor is always beneficial. Having a summer job or campus employment and saving money for your trip can give you greater pride in your experience because you will have worked hard to reach where you are. Additionally, other institutional or private funders will be more inclined to contribute when they perceive that you are working hard for it.
What your study abroad costs pays for
It’s understandable if this feels like a lot of information. Before studying abroad, there are many things to consider. No one will delude themselves into thinking that the financial aspects are particularly enjoyable.
However, the cost of studying abroad must be justified. EVERY PENNY. No matter how much it costs to study abroad, the experience will not only have a significant personal impact and permanently change the way you view the world, but it will also open up a world of opportunity because of the international friends and connections you make. The final mark it gives your resume. Consider it your finest investment in yourself as a citizen of the 21st century, your education, and your abilities as a potential employee.
