What are the living costs when studying abroad?

Studying abroad is not just about books and lectures, it is a life-changing adventure. You will explore the vibrant cities, make friends with people from around the world, and embrace new cultures. You will learn a number of things and go out of your comfort zone. It is basically a chance to grow personally and academically, with access to top-notch professors and exciting courses. You'll pick up confidence and independence. However, there are expenses that will come along with living and studying abroad. You may not be sure of the required budget. To help you with all this, you can read the full article below.

1. Administrative costs at the university

Many universities provide free degree programs. They usually come with administrative costs. These can cover materials like books or documents related to your enrolment. Even though administrative costs are not that high, they add up to the overall expenses of your studies and you must keep that in mind.

2. Transportation fees

Once you are accepted by the university, you will have to make the travel arrangements. If you choose accommodation that is far away from your university, you will have to pay for the daily commute. The amount won’t be that much as college students usually get coupons and discounts. Still, there is a hidden cost you must consider. It can vary around 1 or 2 hours out of your day. Traveling around the host country or going out to explore the city will add to the additional cost. While there are cheaper transport options, depending upon what city you visit and how much you will stay you can up paying more than you intended.

3. Accommodation cost

This is usually the highest monthly expense. The challenge you will get here is finding a good place to live in with a low price. renting a place by yourself will be more expensive than sharing one with other students. So you will have to decide what works best for you.

4. Health and travel insurance

You will be very far away from your home and it is essential that wherever you go your healthcare will be covered.

5. Food and groceries

This is also an important factor as you cannot compromise on eating. One way to save money is by shopping at local markets. The price will be much lower, and you can even negotiate a bit some universities provide students with meal coupons every month. These coupons help you to eat in some places at almost half the cost, so you can use them to your advantage.

6. Books and course materials

This is another cost you can easily overlook.

There are a few things you can do to reduce this expense.

• Some scholarships will cover the costs of your materials so check if you can apply for a scholarship on our portal.
• You can buy used books which are in good condition from former students who no longer need them. You can get these online, often on social media platforms or groups.
• Sometimes, the electronic version of a course book can be cheaper than the hard copy. Compare the prices and then finalize which one would bring you the best value for money.
• Sharing a book with a classmate is a great way to cut costs in half.

7. Cell phone bill

There are cases where people call their friends and family for hours or use mobile data abroad and are surprised when they get the phone bill. This happens when telecommunication companies apply various international charges. The quantity of calls or data you can use while traveling overseas is also restricted. So it is important to check your personal subscription and make sure you understand the details describing how you can use your plan abroad. The easy solution to this problem is you can buy a local SIM card and use it during your study period. You can simply give your friends the new number and they will be able to reach you.

A few other expenses are

Incidental

Round-trip airfare 

Passport and visa costs 

Entertainment

Whether you choose to enroll directly at your foreign university or go with a third-party provider, you will have other costs associated with your study abroad. You will need to budget for many things that could begin to add up depending on the country you are living in.

How to manage the costs of studying abroad?

• Being financially aware and prepared is half the battle won.
• Cut out the unnecessary expenses.
• Consider various scholarships and internships provided by universities for international students for a more affordable study abroad experience.
• Make a note and research more affordable options regarding universities, accommodation, cities, etc before moving ahead.