Dreaming of studying abroad? You are not alone. Thousands of students from over the world strive to transform their dreams into the reality of pursuing higher education in a foreign land. Although a major aspect stands in their way – a study abroad budget. Understanding what comprises a budget and accordingly compiling a list of nations that fit the same is a smarter way of going about achieving your goals.
In this article, we aim to list the constituents of a study abroad budget and a list of the most affordable study abroad destinations.
Why Study Abroad? | Study Abroad Budget
Reach your full potential: Once your dreams turn into reality, you often come to the realisation that studying abroad is not as effortless and trouble-free as it seems to be. It is often a challenging journey with obstacles peppering your path. But these challenges help mould you into a stronger personality with a practical and overall better worldview. Stepping outside your comfort zone also helps improve your work ethic and not to mention, and it is a step in the direction toward achieving your goals.
Top-notch education: Studying abroad gives you a chance at a world-class education. Universities abroad are always equipped with a global approach to education which helps you fit into any organisation or work culture. This also opens up a trove of career opportunities in exciting fields and places.
Experience varied cultures: Another enticing aspect of choosing to study overseas is exposing yourself to different cultures and a vibrant array of diversity. One does not only get to learn about new cultures but you get to enjoy an immersive experience by trying new foods, music, and other local activities. This also helps students respect diversity and the varied ways different people lead their lives.
Travel different places: Who doesn’t enjoy travel? And even more, international travel? Youth from all over itches to explore every corner of the globe and expose themselves to such enriching experiences. You get to tour every significant and interesting part of the country you choose to study in and this is in itself a highly educational experience.
Makes you responsible and independent: The most important aspect of studying abroad is the freedom, independence and the comprehensive learning curve it provides for an individual. One does stumble along the way but you come out more knowledgeable, confident and independent at the end of your study abroad journey.
Constituents Of Your Study Abroad Budget
Before you sit down to zero in on the amount that you will require to get you started on your study abroad goal, you need to list out all the costs associated with studying in a foreign country. This will help you effectively build your study abroad budget. Before we dive into it, the crucial point to keep in mind is to be realistic about the costs you will incur.
Studying abroad is not an inexpensive option and masking the true cost of expenses will only lead you to be blindsided when it comes to paying for these expenditures. Hence, it is always advisable to be true to the amount of the expenses.
- Tuition Fees – Pretty much a no-brainer and this will constitute a chunk of your study abroad budget. Tuition abroad is expensive as compared to pursuing higher education in your home country. This cost is further exacerbated by foreign currency conversion.
- Accommodation and utilities – Accommodation and utilities vary from city to city and from country to country. You have to set aside a good amount of money in your study abroad budget for accommodation. There is a wide variety of student accommodation available in the world’s top university cities which provide a variety of living spaces for students.
- Food and Groceries – Groceries sometimes prove to be expensive when shopping from expensive supermarkets and food courts. Students can save on the money spent on groceries and foods by buying their produce from local grocers.
- Transportation – Transportation cost is affected by three factors; the distance from your accommodation to your university, your daily mode of transportation and the average cost of transportation in the city you have chosen to study. After doing some research on the above factors, you can accordingly factor in the transportation costs in your study abroad budget.
- Entertainment and Leisure – To make your experience abroad worthwhile and enjoyable, it is no doubt that you will take into consideration leisure and entertainment costs. Be it restaurants, pubs, movies or exploring parts of the country you are in, it is advisable to stay true to these costs you might incur.
- Study Material – Another necessity, costs for study materials are inevitable. These costs can include anything from your book costs to your library fees.
- Airfare – Many forget to factor in this cost in their list of study abroad expenses. But due to the rising airfare prices, it is a must to include these costs in your budget as you may be paying a visit home at least once a year.
Affordable Study Abroad Options
Below listed are some countries which are the most affordable study abroad destinations.
- Norway
- Germany
- Taiwan
- Mexico
- Poland
- France
- Argentina
- Malaysia
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1 thought on “Top PGDM Courses In Canada: Universities, Specialisations & Eligibility”
I have done Bachelor’s in Culinary Arts from India and completed my graduation in the year 2022 .I am 22 years old. After graduation, I have done 1 year paid internship from USA .Now, I would like to take occupational experience and learn culinary skills and also do masters in Culinary arts.How can I find the college n best course / country where I can persue studying further