Is studying abroad expensive? Why is studying abroad expensive? one may ask. We’ve got answers to that here for you at World Scholars Hub with reasons why.
In truth, there are some universities that may be completely out of your budget. Also, there are several great opportunities you can get in other universities that can be utilized without spending a lot of money. The cost of the study abroad program greatly varies based on the type of program that you avail.
So studying abroad can be cost-friendly as well as very expensive. There are some factors that can make studying abroad expensive which we’ll discuss below. We’d also tell you how to make it very cost friendly for yourself as we go on.
Table of Contents
Factors That Can Make Studying Abroad Expensive
Some of the factors that can make studying abroad expensive are:
- Location,
- Duration of stay,
- Funding of the program.
Location
There are expensive and exotic places abroad without a single doubt. International students who study in countries with such places find studying abroad very expensive. As an international student who wants to study abroad, you are advised to find locations that suit your budget so perfectly.
Duration of Stay
The duration of your study abroad program can well make studying abroad expensive.
While you plan to study abroad, you should consider the time range of the program you want to take on because the more time you spend abroad, the more the expenses. This is due to some courses offered which may cost, for example, $100 daily. With such courses with time, you’ll find out that you must have spent a lot more than you know it.
You’d also agree with me that no one is going to live on the roof while studying abroad. You will have to pay up for accommodation which will cost you much more as time goes on.
Funding for the program
A variety of programs provide financial assistance to study-abroad students. It is advised that international students who want to study abroad but have little funds to achieve their dreams of studying abroad should find some funding programs to help them achieve that dream.
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Is Studying Abroad Expensive?
When you study abroad, the following can make things expensive:
- Tuition,
- Room,
- Board,
- Utilities,
- Travel expenses,
- Books and Supplies,
- Local transportation,
- The overall cost of living.
The above-mentioned can really add up very quickly to a hefty sum when studying abroad. In fact, the International Institute of Education has estimated the average cost of studying abroad to be around $18,000 per semester which you can agree with me is mouth-watering and unaffordable to many.
This makes studying abroad expensive for many. While others consider $18,000 a little sum, others find it so expensive which triggers the conclusion that studying abroad is so expensive.
Depending on your chosen destination, university, and study abroad organization (and whether you have a part-time job, scholarships, or financial aid), your expenses can vary greatly in cost.
We have also brought you some solutions so you could study abroad with fewer expenses. You can check out How you can apply for a scholarship.
Solutions To Study Abroad With Less Expenses
- Find places with affordable living costs within your study location.
- You should start planning early enough and secure a scholarship.
- Buy or rent used textbooks from sites like Campus Book Rentals, Amazon, and Chegg.
- You need to create a budget and save money in advance.
- Check with your program or institution to see if you’re eligible for financial aid (or to see if your financial aid will transfer to a pre-approved program).
- Work an extra job for quick cash before traveling abroad.
- Avoid excessive agent fees
- You should check not only the current exchange rate, but its history over the last year or two, and consider how currency fluctuations might impact your budget.
- Share your accommodation costs with roommates.
- Reduce the cost of airfare by traveling flying during a different season from summer because it is the peak season for travel and study abroad.
- Go to a developing country for your study abroad program. This is because things are less expensive in developing countries compared to well-developed countries.
How To Make Studying Abroad More Affordable
There are ways to make studying abroad less expensive which include:
- Scholarships
- Grants
- Savings
- Fellowships.
Scholarships
A scholarship is an award of financial aid for a student to further their education. Scholarships are awarded based on various criteria, which usually reflect the values and purposes of the donor or founder of the award.
Scholarships are also said to be grants or payments made to support a student’s education, which is awarded based on the basis of academic or other achievements.
Getting a scholarship may be what you need as an international student now to fulfill your study abroad dreams. Always apply for available scholarship opportunities which we also offer here at World scholars hub and stand a chance of studying abroad for free or with that financial support you need.
Grants
Grants are non-repayable funds or products disbursed or given by one party (grant makers), often a government department, educational institution, foundation, or trust, to a recipient, often (but not always) a nonprofit entity, corporation, an individual, or business. In order to receive a grant, some form of “Grant Writing” often referred to as either a proposal or an application is required.
Having a grant would make studying abroad cheap for any international student.
Savings
For you to make studying abroad more affordable, you need to save a lot and make sure you don’t always spend all your income. You need to save as much as possible for you to afford all the fees necessary to study in the country of your choice.
The inability to save has deterred the study-abroad dreams of so many international students. It is said that no pain, and no gain so you’ve got to leave that expensive pizza you love eating for your dreams.
Fellowships
Fellowships are short-term learning opportunities that typically span from a few months to two years. Many associations sponsor fellowships to give financial support to budding young professionals in exchange for their work in the field. Fellowships generally come with paid stipends.
In some cases, fellows enjoy additional benefits like health care, housing, or student loan repayment. There are various fellowships out there you can leverage to study abroad more affordably.
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Here are the most affordable countries to study abroad.
List of the Most Affordable Countries To Study Abroad
- Poland,
- South Africa,
- Malaysia,
- Taiwan,
- Norway,
- France,
- Germany,
- Argentina,
- India and,
- Mexico.
The countries mentioned above are more cost-friendly for international students, you can consider or make a choice from any of the above if you think you are low on budget to study abroad. So dear reader, is studying abroad expensive? You know the answer now don’t you?
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