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What Determines the Cost of Study Abroad Programs

16 June 2021 by Lilja Murto

Studying abroad can be an exhilarating prospect for high school students, but the cost is quite a concern for students and parents alike. Planning for study abroad programs has immense financial implications. To be on the safe side, you must prepare for such an opportunity by looking at the variable costs involved. 

If you want to enroll your teen into a high school study abroad program, there's more to think about than the cost of tuition. You have to factor in passport fees, upkeep expenses, transport, and accommodation costs, among others. You must evaluate the institution offering study abroad programs for your high school-going child and the home country in question. With proper deliberation, you can manage the cost of study abroad programs and make the experience worthy.  

Here are some factors that influence the cost of study abroad programs for high schoolers. 

Currency Exchange

Global economic variables significantly influence the cost of sending your high school teen abroad. On top of the list is the currency exchange. The country of choice can have varying costs of living compared to your home country. If your teen has selected high school study abroad in a highly developed country. The dollar exchange rate affects the overall cost of study. If they elect to study in a destination where the currency undermines that of the dollar, you'll pay more. If the selected program is in a country where the currency tends to be weaker, you can expect to pay less. It's possible to get a quality education in a country where the dollar reigns over the local country. You only need to factor in these dynamics when preparing your budget. 

Availability of Financial Aid 

If you've resolved to enroll your teen in a study abroad program, you need a substantial budget. However, the availability of financial aid or scholarships for students can help offset some expenses. It's advisable to check whether the institution involved advances financial help to students. Luckily, many institutions that offer high school study abroad programs offer financial incentives. You must do due diligence to know whether your teen readily qualifies for such assistance. If they do, it helps you to save on the total cost of overseas learning. 

Living Expenses 

The cost of living in an overseas country wears many faces. Your high schooler can opt for live-in accommodation or shared arrangements. These costs vary from one institution to the other. Indeed, the cost of food or accommodation is likely to be higher in a big city compared to what you'll pay to enroll in a school located in a smaller city. It's advisable to factor in commuting costs if your teen prefers renting an apartment outside the school. The location of the appointed institution directly affects the cost of commuting and you'll need to consider that.

Reach out to an education center, such as A+ World Academy, to learn more about study abroad programs.

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