There are many advantages to study abroad, but saving money is not one of them. Studying abroad almost always costs more than studying at home. The cost of study abroad depends a lot on how you organize it. Here are the three main ways to study abroad and their costs:
|Study abroad via your university||Costs the same as your current university fees + accommodation and living expenses abroad|
|Study abroad via another organization||Average $10,000 for a semester and $15,000 for a year.|
|Short-term and summer study abroad||Budget $600 per week for the program fees, then add flights, some meals, and pocket money|
Study abroad program fees are only part of the cost of study abroad. In countries with a high cost of living, accommodation and meals can be more expensive than school fees. To avoid being surprised by these day-to-day costs, consider choosing a program that includes accommodation and a meal plan.
There are scholarships for study abroad for university students that are well worth the effort. These vary by country, degree, level of study, and destination. Ask your university for more details. If you’re not a university student, the possibility of a scholarship to study abroad is slim. You’re better off saving up to fund your study abroad yourself rather than waiting around for someone else to pay for it.
Picking a good study abroad organization (like EF!) is key given the investment you’ll be making. Take the time to gather detailed information about different programs and ask lots of questions before making up your mind. After all, the most cost-effective study abroad program is the one where you benefit the most, not necessarily the one that’s cheapest.
Note: Prices accurate as of October, 2019.