Ibrahim Gardner
The rising cost of tuition and living expenses has made studying abroad increasingly unaffordable for international students. In 2022, there were over 6.9 million international students worldwide, with the United States, Canada, and the United Kingdom being the top three destinations. However, the high costs associated with studying in these countries have led many students to explore more affordable alternatives. Countries like Germany, South Korea, Spain, and Japan are gaining popularity due to their relatively lower tuition fees and living costs. To enhance accessibility and attract international students, educational institutions are exploring various strategies, such as offering scholarships, providing paid assistantships, allowing part-time work, and accepting payments in installments and in students' home currencies.
| Characteristics | Values |
|---|---|
| Choosing a country with a lower cost of living | Norway, Taiwan, Germany, France, Mexico, India, Argentina, Poland, Malaysia, and South Africa |
| Choosing a country with lower tuition fees | Germany, South Korea, Spain, Italy, France, and Japan |
| Choosing a city with a lower cost of living | Edinburgh is more affordable than London |
| Choosing a university in a small town or outside big cities | |
| Working part-time | Students with an F-1 visa can work on-campus for up to 20 hours per week |
| Scholarships and grants | International Student Scholarship Search, MPOWER scholarship, US Department of State's list of scholarships |
| Paid assistantships and fellowship awards | |
| Student loans | MPOWER student loans ranging from $2,001 to $100,000 |
| Sharing living expenses with roommates | |
| Buying used books instead of new ones | |
| Allowing students to pay in their home currency in smaller installments |
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What You'll Learn
Scholarships and grants
Merit-based Scholarships:
Merit-based scholarships recognise students with exceptional skills, talents, or abilities. These scholarships are often highly competitive and require students to demonstrate outstanding abilities in areas such as academics, artistic endeavours, music, or athletics. Universities may offer scholarships based on criteria such as TOEFL scores, academic records, or specific abilities.
Need-based Scholarships and Grants:
Many scholarships and grants are specifically designed to support students with financial needs. For instance, the University Studies Abroad Consortium (USAC) awards scholarships to students who demonstrate significant financial need and enrol in USAC study abroad programs. Similarly, the Fund for Education Abroad (FEA) provides scholarships to students who are traditionally underrepresented, including students of colour, first-generation college students, and community college students.
Program-specific Scholarships and Grants:
Some scholarships and grants are tied to specific study abroad programs or universities. For example, St. John's University in New York offers a range of scholarships, including merit-based awards, Catholic scholarships, and donor-funded opportunities. The School for International Training (SIT) also provides scholarships and grants to students participating in their study abroad programs, helping to cover tuition and housing costs.
Diversity and Inclusion Scholarships:
There are scholarships and grants specifically aimed at promoting diversity and inclusion. For instance, the Council on International Educational Exchange offers scholarships and grants to minority students from the United States, providing financial support for their studies abroad. BIPOC students are encouraged to explore scholarship opportunities dedicated to promoting inclusivity in travel and education.
Subject-specific Scholarships and Grants:
Certain scholarships and grants are tailored to specific fields of study. For example, the MPOWER STEM Scholarship supports international and DACA students pursuing degrees in STEM fields. Similarly, the National Science Foundation (NSF) offers fellowships, travel grants, and research opportunities for international students in the fields of science and education.
By leveraging these scholarship and grant opportunities, international students can significantly increase the affordability of their studies, enabling them to pursue their educational goals without being hindered by financial barriers.
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Part-time work
International students in the UK can work both on-campus and off-campus part-time jobs, earning an average salary of 10 to 12 Euros per hour. On-campus jobs are often a popular choice as universities may have policies that make it easier to secure these positions, and they usually offer flexible schedules that accommodate a student's academic commitments. Examples of on-campus jobs include working in the university cafeteria, sports clubs, gyms, or libraries. Off-campus jobs can be in any field, and students can also consider internships or work placements, which are usually separate from regular employment restrictions.
In the US, international students on F-1 visas are allowed to work on-campus for up to 20 hours a week during the school year. Off-campus employment may be available through programs like Optional Practical Training (OPT) and Curricular Practical Training (CPT). Students should consult their university's International Student Office for guidance on visa rules and employment opportunities.
Part-time jobs can provide international students with valuable work experience and skills that can enhance their resumes. Examples of part-time jobs that international students can consider include teaching or research assistantships, freelance writing or editing, campus IT support, library assistant, food runner, barista, sales associate, and peer mentor.
While part-time work can provide financial support, it's important for international students to prioritize their education and maintain a healthy balance between work and academics. Tools like calendars and productivity software can help students stay organized and manage their commitments effectively. Additionally, seeking support services and maintaining self-care practices are crucial for a positive study abroad experience.
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Student loans
International students can apply for loans from private lenders or banks, or seek financial aid directly from their college. Some colleges offer financial aid packages that include loans, scholarships, and grants. It is worth checking with the college to see what financial aid is available for international students and to seek advice on the financial aid process. There are also third-party organisations, such as the Fulbright Foreign Student Program and the Open Society Foundations, that offer student aid for non-citizens studying in the US.
When taking out a loan, it is important to consider the interest rate and the repayment terms. The interest rate is usually calculated using a benchmark rate (such as the Prime Rate or SOFR) plus an additional percentage based on the creditworthiness of the borrower and their co-signer. The repayment period can range from 10 to 25 years, and there may be options to defer payments or reduce the interest rate, such as through automatic payments. It is also worth comparing different lenders, as some may offer lower interest rates or more favourable terms.
There are a number of private lenders that offer student loans specifically for international students, such as MPower Financing, EdvestinU, and Citizens. These lenders often have different eligibility criteria and requirements, so it is worth researching and comparing multiple lenders before deciding on a loan. For example, MPower Financing offers loans with no co-signer or credit history required, while Citizens offers loans to international graduate students with a US co-signer and a qualifying Citizens account.
In conclusion, student loans can be a helpful way to increase affordability for international students, but it is important to carefully consider the interest rates, repayment terms, and eligibility requirements before taking out a loan. International students should also be aware of the requirement for a co-signer in most cases and research the availability of no-cosigner loans if needed.
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Cheaper study destinations
With the rising costs of tuition fees and living expenses, affordability has become a crucial factor for international students when deciding where to study. Here are some cheaper study destinations that offer quality education without breaking the bank:
Germany
Germany is known for its reputable universities, relatively low costs, and high quality of life. While there are typically tuition fees for master's students who did not complete their undergraduate studies in Germany, bachelor's and PhD programmes at public universities are free for all students, regardless of nationality. Living costs in Germany can vary depending on your lifestyle and location, but students should budget for at least €10,200 (~US$11,950) per year.
France
France offers affordable tuition fees for all students, with rates set at €170 (~US$200) per year for bachelor's programmes, €243 (~US$285) for master's, and €380 (~US$445) for doctoral programmes. International students may also be surprised to find that France has some of the best scholarships available. Living costs in France are relatively affordable, with an average of $650 per month.
Taiwan
Taiwan is known for offering affordable tuition fees and a good quality of life with relatively low living costs. For example, at National Taiwan University, one of the top universities in Asia, undergraduate tuition fees start at TW$100,920 (~US$3,300) per year for liberal arts programmes. Accommodation costs are also reasonable, with prices as low as TW$88,000 (~US$2,900) per year. Additionally, Taiwan offers over 120 courses taught in English at more than 40 universities, making it a popular destination for international students.
Malaysia
Malaysia is renowned for its low living costs, with most students needing only about MYR 14,400 (~US$3,550) per year to live comfortably. Tuition fees are also very affordable, with an average of US$4,000 per academic year. Malaysia is home to several branch campuses of international universities, allowing students to obtain accredited degrees at a lower cost.
South Africa
South Africa offers a unique blend of natural beauty, cultural diversity, and a turbulent history, making it an attractive destination for students seeking an affordable and enriching experience. The University of Cape Town, South Africa's highest-ranked university, has average fees of US$6,000 for international undergraduates. Living costs are also relatively low, with an estimated US$9,150 needed per year for expenses.
When considering cheaper study destinations, it is essential to evaluate both tuition fees and the cost of living in the specific country or city. Additionally, factors such as safety, language, post-study employment opportunities, exchange rates, and healthcare costs should be considered to ensure a holistic understanding of the affordability of a particular study destination.
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Cost-saving strategies
Choosing a Study Destination with Lower Costs
Firstly, prospective international students can opt for countries that offer a more affordable education and have a lower cost of living. For instance, countries like Germany, South Korea, Spain, Italy, France, and Japan are becoming increasingly attractive to international students due to their relatively lower costs compared to traditional English-speaking destinations like the US, UK, Canada, and Australia.
Scholarships, Grants, and Assistantships
Secondly, international students should explore the availability of scholarships, grants, and assistantships. Scholarships can significantly reduce the financial burden, and many universities and governments offer scholarships specifically for international students. Grants, which do not need to be repaid, are another valuable option. Additionally, paid assistantships and fellowship awards allow students to earn money while gaining work experience relevant to their field of study.
Part-Time Work Opportunities
Working part-time while studying can help international students cover some of their expenses. In many countries, international students with specific visas are allowed to work on-campus for a limited number of hours per week. In some cases, off-campus work may also be permitted, but this often comes with additional requirements and paperwork.
Student Loans
Student loans are another common strategy for financing an international education. Various lenders offer loans specifically designed for international students, helping them cover academic costs. However, it is important to remember that these loans typically need to be repaid with interest over time.
Cost-Saving Measures in Daily Life
International students can also reduce their daily expenses by adopting cost-saving measures. Sharing accommodation with roommates can significantly reduce rent and utility costs, and it can also provide a supportive community. Buying used textbooks instead of new ones and purchasing shared groceries can further decrease expenses.
Currency and Payment Installments
Universities can also support international students by accepting payments in the student's home currency, which can help them avoid unfavorable exchange rates. Additionally, offering the option to pay tuition and fees in smaller installments over time can reduce the immediate financial burden on students and their families.
These cost-saving strategies can collectively contribute to increasing affordability for international students, making higher education more accessible and inclusive.
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Frequently asked questions
International students can save money by choosing a study destination that offers lower tuition fees and a lower cost of living, such as Norway, Taiwan, Germany, or France. They can also save by sharing accommodation and living expenses with roommates.
International students can apply for scholarships, grants, and paid assistantships or fellowships to help cover tuition fees. They can also take out student loans, such as those offered by MPOWER Financing, which range from US$2,001 to US$100,000 for those who qualify.
International students in the US with an F-1 visa are allowed to work on-campus for up to 20 hours per week during school terms. Off-campus work may also be permitted if certain requirements are met.
Higher education institutions can increase affordability for international students by offering more scholarships, supporting student success, and reinvesting tuition fees into enhancing outreach and widening access. Institutions can also allow international students to pay in their home currency and in smaller installments over time.
Yes, countries like China, Malaysia, South Korea, and India are emerging as more affordable destinations for international students. Japan is also perceived as an evolving destination, with the government setting targets to increase the number of international students.
