The Most Important Factor in Your Budgeted Study Abroad Plan
There are tons of websites on the Internet advising you on how to study abroad. For those of you without family fortunes to squander, there are just as many websites instructing you on how to study abroad on a budget. Having read a great many of these blogs, websites and recommendations in my research for this piece, I can tell you that very, very few of the authors had any idea of what a strict budget entails nor did they give any indication of an experience with the uncomfortable consequences of failing to follow one.
Behind many of the shallow instructions—such as “don’t buy too many souvenirs” followed immediately by instructions to eat out to save money—were clear outlines of upper middle class college students who needed only to email their folks back home for a deposit into their ATM account. Luckily, an anonymous financial genius posted an article on StudyAbroad101.com. Read his suggestion carefully because it can mean the difference between staying on a budget or panhandling: “Before you even decide where you’re studying abroad, make sure you choose either an appropriate destination or time frame that will fit your estimated budget.” Eureka!
Necessary—But Secondary—Factors for a Budget-Friendly Study Abroad Plan
So now that you’ve established that you could afford to stay 36 hours in Tokyo, London or Paris, start your investigations into studying in a country that’s friendlier to your bank account. As you consider each destination, keep a chart of the information you discover about different categories of information such as the currency exchange and the volatility of such; institutions offering programs, the subjects offered, tuition costs, and estimated fees for textbooks and supplies; and where you’re going to live and how you’re going to eat.
Other prerequisites for your trip that need to be taken care of before you leave include:
- Make an appointment to be seen by a travel physician in order to schedule necessary immunizations and health advice for the country in which you’ll be studying. Complete this task early, as some immunizations require a series of injections.
- Get copies of prescriptions from your regular doctor for any medications you might require for chronic conditions and those medications you take as prescribed.
- Purchase travel insurance. Before you start to object about saving costs, let me assure you that budget student travel insurance is available. Allow me also to remind you that the cost of any healthcare treatment or medical transportation back to the U.S. makes the cost of such insurance seem insignificant.
- Take the time to research your living options while studying abroad. Locating seasoned housing groups is always a good starting point to begin your comparison.
The Top Three Least Expensive Study Abroad Destinations
According to the most recent survey results conducted for 2012 by StudyAbroad.com, the least expensive destinations for study abroad options include the following:
·Mexico
- Ranked the “#1 budget-friendly destination”
- Ranked 4.3 COLA stars out of 164 reviews
- Offers 246 programs of study
·Senegal
- Ranked 2nd
- Ranked 4.6 COLA stars out of 31 reviews
- Offers 15 programs of study
·Peru
- Ranked 3rd
- Ranked 4.2 COLA stars out of 97 reviews
- Offers 89 programs of study
Au Revoir
Enjoy your time spent studying abroad. Be safe, but have fun. And if you’ve chosen an inexpensive country in which to study, you’ve already eliminated a great deal of worry about money and what you’ll be able to afford.
Great article! I could have used some of these budgeting tips while studying abroad myself.
Great tips! This is a very helpful blog post for anyone who wants to travel abroad in general, regardless of budget!