You Can Really Save by Going to Overseas College
We all want the experience of “finding ourselves through travel” in college, but studying abroad seems like a pipe dream and an expensive dream. Surprisingly, in some cases it is actually cheaper due to rising tuition fees in the States . But don’t get on the plane just yet. There are a number of variables to consider.
On his Take Risks Be Happy website, writer Alex Webb explains his own college experience abroad :
“When I applied to the university, I was faced with a dilemma. The schools I wanted to go to were unavailable, and the schools I could afford to attend were boring, as were the public schools nearby. I didn’t want to spend the next 4 years of my life 30 minutes from home. I wanted to go out and see the world. These goals seemed incompatible – but they are not. Excluding expensive private or non-state schools, I looked abroad. I ended up going to the University of Hong Kong where I got my degree in international business for about $ 21,000. That’s the cost of a semester in a private school or one year in an out-of-state school. ”
Webb is not alone. Bloomberg reports that the number of US students studying abroad in recent years is 72% higher than in 2000-2001.
“The United States has great schools, and studying in America is not a bad thing at all,” Webb told us. “But it is shocking how much more accessible education is in other developed countries. Even the best universities in comparable countries like the UK can be tens of thousands of dollars cheaper. ”
College Tuition Fees Outside the United States
In the States, college students pay about $ 38,000 a year just to study at a private university. For a public four-year school, this is still quite expensive at around $ 24,000. As a resident of a public school across the state, you still pay nearly $ 10,000.
According to a US News and World report, the average cost of tuition in the UK as a whole is $ 21,365 per year. In Canada it is $ 16,746, and in France it is $ 247.
England in particular is one of the most popular destinations for Americans looking to attend college overseas. In England, international undergraduate students pay tuition and fees from £ 10,000 ($ 12,300) for lecture courses, according to TopUniversities.com . This cost rises to £ 35,000 (~ $ 43,060) or more for a bachelor’s degree with a clinical degree. You can check the average tuition fees at various UK universities here.
Here’s one more thing to watch out for: even when the cost of some universities is comparable to that in the US, degree programs are much shorter. So over time, you will still pay less.
“In some countries, such as the UK and Australia, it only takes three years for a bachelor’s degree,” says Webb. “Even if you paid for tuition in the same way as in the States, it equals a 25% discount. You will leave a year early and save tons of money. I did it and it was amazing. “
Webb indicated that he did it in Hong Kong, but they have since switched to a four-year system like in the US. For the most part, students in the States are encouraged to experiment with college for a year or two before finally settling down. the main one. Many overseas programs are much more focused – you go to college knowing exactly what your major is. The upside is that you graduate earlier and cheaper, but if you change your mind halfway through and want to change your major it will cost you.
In some countries, training is free
It is worth noting that in some countries, training is offered at an insanely low price: free.
More and more American students are studying, for example, in Germany, where tuition at public universities is free. Students pay a fee, but it is relatively small compared to tuition fees. For example, at the Freie Universität in Berlin (ranked among the top 60 schools in the world), students pay around $ 350, but this also applies to public transport. Moreover, many programs in English are intended for American students. Investopedia lists several more countries that provide free or near-free education to their citizens. For instance:
- Norway : Tuition is free at public universities in Norway, including leading colleges such as the University of Oslo, the Norwegian University of Science and Technology and the University of Bergen.
- Finland : Finland changed its free education status in 2017. However, tuition is still free for doctoral students and students who study in Finnish or Swedish. According to Investopedia, international students seeking a degree in English will pay around $ 1,650 per year, depending on the program.
- Sweden : Only students who earn a research-based doctoral degree can receive free tuition in Sweden, but some programs also offer scholarships for international students.
You can still get a lot outside of Europe. Investopedia reports that American students studying in China typically pay $ 3,000 per year in tuition and fees, and if you can study in Chinese, the cost will be even lower.
How employers view foreign degrees
The big question is, will American employers be just as supportive of your degree if it comes from a foreign university?
Some degrees are better abroad
“During interviews, employers ask me that I’ve come to Hong Kong, but they don’t think about it,” says Webb. “In my experience, they cared more about my career.”
According to the former dean of the admissions office, the former dean of the admissions office of the Wall Street Journal, Anna Ivey, in fact, with some advanced degrees, she has an advantage. For example, business, international relations and political science are all degrees in which international experience is a plus.
However, there is also a downside. For example, doctors and dentists may find it more difficult to return their overseas degree to the States. The magazine reports :
Before practicing in the United States, dentists with a foreign diploma usually have to complete a two- or three-year program at a US dental school, which can cost over $ 100,000, including living expenses. In order for doctors to practice in the United States, it is necessary to pass a series of medical licensing exams and participate in the United States residency program. While it is possible to obtain a residence permit in the United States as a graduate of a foreign medical school, it is usually more difficult than with a degree from an American medical school.
School of law is another problem. In most cases, if you have a foreign law degree and want to practice in the States, you will have to continue your education at an American Bar Association accredited school. It goes without saying that with any degree, you should study the requirements and guidelines for transferring a foreign degree for the country in which you want to use that degree.
Explore the reputation of the school
Apart from the degree itself, you also want to choose a school with a decent reputation. The good news is that many foreign universities rank higher in the world rankings than US schools.
“This is a mixed picture,” says Webb. “Top foreign schools like Cambridge or Peking University are well known and respected by international companies, but many small schools will be largely unknown. There are several world school rankings to help you make your decision. Two popular rankings are Times Higher Education and QS World . If you are unsure about the school, do not hesitate to contact the other international students who are studying there. If you don’t hear good reviews or there are no international students there right now, this is a big warning sign. “
You can also use websites like Niche.com or SchoolLinks to see student reviews and compare colleges. You can also look at average costs, student numbers, test scores, and other statistics.
Another thing to watch out for is that some foreign schools want to improve their reputation by attracting international students. As a result, they will offer incentives to Americans. For example, Webb was offered a partial scholarship to study at the University of Hong Kong. (You might even be able to negotiate this !)
Other costs to consider
Of course, it’s not just about payment. There are other costs to consider. The cost of living in some cities can be surprisingly high. Any savings in training can be offset by housing, food and other monthly expenses. Here’s a nifty calculator that compares the cost of living in two cities. Don’t forget about travel expenses. If you have plans to return home regularly and visit friends and family, that can add up, too.
And then there are student visas. Depending on the country, this can be several hundred dollars. More importantly, many of them do not allow students to work abroad. Depending on where you study, you may not be able to work to pay basic living expenses, or your job may be restricted. In Japan, you can work up to 28 hours a week . In Australia, you can work no more than 20 hours during the school semester, but you can work full time during breaks. Check out the specific visa requirements for Americans traveling abroad here.
Financial assistance you receive in the United States may cover your international studies. This does not usually apply to grants, but the Department of Education lists international schools that participate in its student loan program.
While cost is usually the most obvious concern, there is also culture shock. It can be difficult to leave your hometown after college , let alone travel to a completely different country. It can also be frustrating to just drop out of a college student from your hometown .
“I think the main barrier is psychological. Most people don’t want to leave home, and many Americans have never thought of leaving the country for anything other than a vacation, ”says Webb. “But considering how much money you can save and the adventure you have, it will be worth it.”
Obviously, you want to explore as much of the country you’re exploring as possible before heading out to get a feel for what everyday life is like. For example, the Japan you see in pop culture in Tokyo will be very different from the lifestyle you will live in a smaller city, Webb notes.
“Going abroad to study in college was an amazing experience for me,” he says. “You meet so many different people and have so many opportunities that you would not have at home … It was not always easy, but it was a very meaningful experience.”