How To Save For Study Abroad

Cost depends on many factors, including the program type and length, and students' living, dining, and transportation arrangements. Study abroad costs typically range from $5,000-$15,000 per semester.

Many universities in Northern and Western Europe offer free tuition for undergraduate study abroad programs. Conditions may apply.

Study abroad programs usually require a minimum 2.5 GPA. However, program managers may also consider academic history, extracurricular activities, employment status, and recommendation letters.

Studying abroad can cost less than a semester of college. Costs depend on students' location, living arrangements, and other personal preferences.

Location significantly influences the cost of study abroad. In general, choosing to study abroad in Asia typically costs less than Europe. GoAbroad.com notes that most international study programs are based in metropolitan areas. Students can plan trips to explore nearby areas.

Before getting too far down your study abroad to-do list, verify that you possess all required travel documents. First-time adult U.S. passport applicants must pay $145 in application and acceptance fees. Processing can take up to 12 weeks. Some countries, like the United Kingdom, do not require travel visas for U.S. citizens. A base application charge for a student visa for Australia, for example, costs about $475.

Traveling is often the most expensive aspect of study abroad experiences. To save money, you can create flight alerts, book about three months in advance, and cash in airline miles. Also consider the logistics of getting around during your stay. For daily activities and errands, you can often walk or bike to your destinations. If not, include rideshare, bus, or train transportation expenses in your monthly budget planning.

The cost of treating an injury or illness while abroad can easily reach thousands of dollars. And in an emergency, you cannot negotiate prices or services. This is why most study abroad programs require enrollees to participate in a health insurance plan. Many companies cater to students, such as Cultural Insurance Services International.

Learners should also consider how to stay connected while abroad. All students need reliable internet access. Check if your study abroad campus offers free Wi-Fi. Some travel packages provide free Wi-Fi, but if not, you can explore other options.

Many coffee shops, restaurants, and government buildings provide free public internet access. For more convenient access, Friendly Planet suggests getting a short-term international plan through your phone carrier. An unlocked smartphone can also serve as a backup or even primary Wi-Fi connection.

For longer trips, students may want to purchase a local SIM card. This option usually costs less than an international plan. Learners can also consider renting a mobile hotspot or buying a local burner phone. These devices can also easily support multiple simultaneous users. If you want to set up Wi-Fi at home, keep in mind that some foreign internet service providers require a bank account that is based in that country.

If you plan to study abroad for less than a month, you do not need to open a bank account. However, if you intend to receive a regular paycheck while overseas, opening a bank account in the host country can simplify your life. Opening a local bank account provides more security and lowers costs since you do not incur fees to access your money though local branches and ATMs.

Studying abroad is an academic experience that can also lead to many fun opportunities. Students who learn, live, and work overseas can forge new friendships and build career connections.

To save money for different experiences while studying abroad, consider planning self-guided tours. Classmates and friends can connect you to free and fun social and cultural experiences. As a guide for entertainment spending abroad, a fun night out should not exceed more than 10% of your monthly budget.

In late 2020, the U.S. Centers for Disease Control recommended that higher education institutions postpone or cancel international student travel programs. Prospective students should check for updated guidance and confirm that their school, program, and host country offer study abroad opportunities during the pandemic.

Amid the pandemic, students should prepare for added cost and complexity to all international travel. For example, individuals authorized to enter England must quarantine for 10 days at a government-approved hotel at their own expense. The cost is about $2,400.