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College study abroad programs offer students an extraordinary chance to explore a new part of the world while earning credit toward a degree. Each year, more than 300,000 American students study, engage in internships, or volunteer abroad for academic credits, according to the U.S. Department of State.
Despite the culturally rich and memorable experience this offers, the cost of studying abroad can be a barrier to many students. On average, study abroad programs cost between $15,000 and $22,000 per semester.
Read on to learn more about the costs involved in spending a semester or year abroad, how financial aid can help, plus other ways to make studying abroad more affordable.
Key Points
• Studying abroad can cost anywhere from $15,000 to $22,000 per semester.
• Third-party programs are generally more expensive but offer more support.
• Beyond tuition, essential costs include airfare, passport and visa fees, housing (if not included), meals, local transportation, and health insurance.
• Financial aid, including federal and private student loans, grants, and scholarships, can help offset the cost of study abroad programs.
• To qualify for federal aid for study abroad, your home university must participate in federal student aid programs and approve of your study abroad program.
Average Cost of Study Abroad Programs
The cost of studying abroad depends on two main factors — where you go and whether you enroll directly through your host university or use a third-party provider.
Generally, enrolling in a third-party study abroad program is more expensive. It provides you with more hand-holding and guidance in the pre-planning stages and while you’re living and studying overseas.
Average study abroad costs through a third-party provider can range anywhere from $15,000 to $22,000 per semester depending on location. These programs usually include housing and sometimes meals. Depending on the country, the cost of tuition could be significantly lower if you directly enroll in a foreign university.
If your home school has its own study abroad program, the tuition may be the same as it is stateside, though they may tack on some extra fees.
The cost of studying abroad goes beyond tuition, however. You will need to budget for other expenses like housing (if it’s not included), meals, airfare, transportation, entertainment, and books and supplies.
💡 Quick Tip: You can fund your education with a competitive-rate, no-fees-required private student loan that covers up to 100% of school-certified costs.
What the Cost to Study Abroad Covers
Here’s a breakdown of some of the key costs involved in studying abroad.
Getting There
You’ll need a round-trip plane ticket to get to and from your study abroad program, which can cost anywhere from several hundreds to thousands of dollars, depending on what part of the world you travel to. On top of your flight costs, you’ll need a passport. A new U.S. passport costs $165 and can take up to 10 weeks to process.
Many countries also require American students to get a travel visa in advance when visiting the country for studies. Costs vary widely by country. A student visa from Australia costs around $1,085, while one from South Africa runs about $36. Some countries, like Germany, don’t require U.S. visitors to get a student visa for studying abroad.
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Tuition and Living Costs
Typically, the price of a study abroad program will include tuition and fees at your host school, as well as some form of housing. If you directly enroll in a foreign university, you may need to pay tuition and housing separately. Either way, food is generally an additional expense.
Here are some examples of how much it can cost to study and live abroad:
In you go to Italy:
• Average cost of a semester (including housing) through a third-party provider: $17,000-$21,300
• Average cost of a semester (without housing) through direct enrollment: $1,500-$6,000
• Average monthly cost of living (including rent): $1,200-$1,700
If you go to Costa Rica:
• Average cost of a semester (without housing) through direct enrollment: $1,500-$3,000
• Average cost of a semester (including housing) through a third-party provider: $8,500-$11,500
• Average monthly cost of living (including rent): $1,100-$1,400
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Local Transportation
Transportation expenses likely aren’t covered in the cost of your program. You might decide to take public transportation and purchase a metro pass, or rely on rideshare services. Either way, you’ll likely encounter some form of transportation cost while you’re abroad.
You may also want to take excursions to other cities or countries during time away. So it’s a good idea to factor in some extra funds for airfare/train tickets, food, and lodging for nearby travel. Keep in mind that financial aid won’t cover voluntary travel expenses beyond the cost of your initial round-trip flight.
Recommended: What to Do When Financial Aid Isn’t Enough
Insurance
Many U.S. universities require students studying abroad to enroll in a health insurance plan to make sure they have adequate coverage for medical issues and emergencies while overseas. At the University of Illinois, for example, students are charged $712 for student health insurance. If your current insurance offers adequate overseas coverage, however, you may be able to opt out of the school’s health insurance plan. Third-party study abroad programs may include overseas health insurance coverage in their fees.
Other Fees
Third-party programs will typically charge a study abroad application fee, which may be $95-$150. Your home school may charge you a study abroad administrative fee. At the University of Iowa, for example, it runs around $1,213 for one semester abroad (for in-state students). You can check with your school’s education abroad office to see how much you might be charged.
In addition, the study abroad program you choose may come with optional costs, like class field trips, short excursions, or cooking classes with a local chef.
How to Pay for Study Abroad
If you’re worried about the high cost of studying abroad, there is good news: Much of your existing financial aid can likely be used for study abroad costs. Here’s a look at how to find funding for study abroad.
Grants and Scholarships
To find out what financial aid you qualify for, you’ll want to fill out the Free Application for Federal Student Aid (FAFSA®). In addition to FAFSA-based scholarships and grants, there are many scholarships targeted specifically at students studying abroad, which you can uncover using a scholarship search engine. Third-party companies that facilitate study abroad programs also often have their own scholarships.
💡 Quick Tip: Even if you don’t think you qualify for financial aid, you should fill out the FAFSA form. Many schools require it for merit-based scholarships, too.
Federal Student Loans
Federal student loans (which may be subsidized or unsubsidized) can be used to pay for study abroad expenses, provided your home U.S. university participates in federal student aid programs and your study abroad program is approved by your school.
Federal study abroad loans for U.S. students can be used to pay tuition and fees, room and board, and other eligible expenses. Any leftover funds are disbursed to you, which you could use for travel to your destination country or basic living expenses. However, federal loans may not cover all the costs of studying overseas.
Private Student Loans
If you max out the amount you can borrow in federal loans, you can turn to private student loans to finance the remaining costs. Approval for private student loans typically hinges on your credit history. You may need a cosigner for approval if you haven’t established a credit history or your credit score is lower than the minimum score the lender requires.
Private student loans offer more borrowing power than you can get with the U.S. government, but don’t offer the same protections (like income-based repayment). Rates are also typically higher.
The Takeaway
Spending a summer, semester, or full year abroad can significantly enhance your college experience. But it can also substantially increase the cost, coming in at upwards of $15,000 per semester. Fortunately, there are funding options available to help students manage the cost of study abroad, including scholarships, grants, and student loans.
If you’ve exhausted all federal student aid options, no-fee private student loans from SoFi can help you pay for school. The online application process is easy, and you can see rates and terms in just minutes. Repayment plans are flexible, so you can find an option that works for your financial plan and budget.
FAQ
What’s the cheapest country to study abroad in?
While specific costs can vary, countries like Germany, Sweden, and Iceland are often cited as more affordable options for studying abroad, especially if you plan to enroll directly in a foreign university rather than through a third-party provider. Many of these countries boast free tuition. However, factors like the local cost of living and visa requirements all play a role in determining the overall affordability.
Does FAFSA cover study abroad?
Yes. If you qualify for student aid through the Free Application for Federal Student Aid (FAFSA®), your awarded aid funds can typically be used toward study abroad costs. If you apply to an overseas school directly, however, the school must participate in federal aid programs. Also keep in mind that your FAFSA aid might not cover the entire cost of studying in another country.
Is a year too long to study abroad?
The ideal length for studying abroad varies depending on individual goals and preferences. Some students find a summer or a single semester abroad is perfect for gaining cultural immersion and academic credit. Others prefer a full academic year to more deeply integrate into the local culture and language. Consider your academic requirements, financial resources, and personal comfort level when deciding on how long to study abroad.
Photo credit: iStock/wsfurlan
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