How to Study Abroad Without Breaking the Bank

Top tips on cutting costs. Think you can't afford to study abroad? Think again!

Have you always dreamt of studying abroad, but break out in a cold sweat just thinking about the costs involved; international student fees, visas, accommodation, flights, insurance...? Well, the good news is studying abroad doesn't have to cost an arm and a leg. Do your research and check out your options.

1. Go on exchange with your university

Exchanges are an economical way to spend a semester or year abroad, as generally no extra tuition fees apply, you just continue to pay fees to your university in Canada. You are also still eligible for scholarships, bursaries, and Canadian Student Loans. Credits are also automatically transferrable, which makes things easy. Find out which schools abroad your university partners with — different schools have different international partners.

2. Take a study abroad program

If you want to study at a university which isn't one of your university's partners, you can register for a study abroad program, meaning you'll pay tuition fees directly to the university abroad. This is obviously more expensive, but the benefits are a wider choice of universities and more places available.

3. Pursue your whole undergrad or postgrad degree abroad

Step out of your comfort zone and embrace full cultural immersion, and all the benefits that come with it. As you likely know, international student fees can be high, but there are a lot of ways to save money. Here are just a few pointers:

• Many international universities offer academic or sports scholarships
• Many governments also offer scholarships; Fulbright scholarships (to study in the USA), Erasmus Mundi (for master's studies in Europe), and Australia Awards/Destination Australia are just a few
• A few countries offer FREE tuition to everyone, including international students — Germany and Finland, for example. University tuition fees in France are also good value as they are heavily subsidized
• In some countries (like England, for example), Bachelor degrees are generally three years and Master's programs only one year — so you save on a year of tuition and accommodation
• Check out financial assistance offered by your provincial government, for example, the Ontario Student Assistance Program or StudentAid BC
• Some universities in the USA offer Canadians the same fees as local US students — which are much cheaper than international fees!
• Choose a country with a cheaper cost of living, for example, Poland or Hungary. With less money spent on rent and groceries each month, your expenses will be a lot less daunting! Tuition fees are often a lot lower as well.

Sometimes it pays to pay more

Even if you do end up paying a little more for studying abroad, consider the ROI on your investment. Studying abroad looks great on your resumé, and it could be that differentiating factor when you apply for jobs. Many businesses these days are operating in a global context, and it makes sense that employers are looking to hire people who have studied, worked, or lived abroad.

The interpersonal skills learned abroad, as well as self-reliance, problem-solving, 'out-of-the-box' thinking are huge assets to any organization.

Why not check out your options at the Study and Go Abroad / SchoolFinder Fair from October 17-27 in Montréal, Ottawa, Toronto, Vancouver, and Calgary. Universities from around the world will be there to chat with you and answer all your questions. Check the website to see who's coming, the webinar schedule, and how to register for free.

Start planning the next steps in your education. Good luck!