Spending a semester in Europe isn’t the only way to study abroad. Students are changing how and where they study based on their budgets and interests.
Short-term programs and lower-cost countries are becoming more popular. Emerging economies like China, India, and Brazil aren’t just cheaper to live in; they’re also the world’s future business and technology hubs. Based on economic trends, these countries are a good value now and the most promising bets for the coming decades.
Read on to see how study abroad is changing and how students are using these trends to save money on their studies.
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The New Face of Study Abroad: How to Save Money by Taking Advantage of Post-Recession Trends
Since the 2008 recession, study abroad has changed. Studying in Europe for the spring semester of your junior year isn’t the only option. Affordable, short-term programs and fast-growing countries are becoming popular choices. Keep reading to find out how study abroad programs are changing and how to use these changes to save money.
How Can You Make Studying Abroad More Affordable?
Study Later in Your Academic Career
Junior year is still the most popular time to go abroad, but the percentage of study abroad students who are seniors or graduate students is rising. By delaying your trip for a semester or two, you can save up more money for it.
Study on a Shorter Program
Short-term programs are becoming more popular at the expense of semesters and years abroad. Shorter programs offer the experience of living abroad without the long-term commitment or high price.
We have also seen short-term, faculty-led programs and summer programs on the rise, both of which are easier on the wallet.
-Mike Stone, Abroad101
Study in Countries with a Lower Cost of Living
The UK and Italy are still the most popular destinations for studying abroad. However, countries with a lower cost of living are growing the fastest. These countries reflect students’ interest in emerging economies, environmentalism, and technology. Studying in China or India is cheaper and more practical than studying in Europe.
Studying abroad later in your academic career, staying for a shorter period of time, and choosing lower-cost countries are the best ways to make international study more affordable.
Share your suggestions for saving money on study abroad in the comments.