It is increasingly common for British students to complete part of their studies abroad. This can be part of an official study abroad program for a short period, by going to university abroad for undergraduate studies or by participating in a master’s degree abroad. There is a wide range of options if you are interested in studying abroad, so you can find the course you want, in an interesting place, and could even choose a place with a lower cost of living compared to in the UK, to make your money grow. This guide covers everything you need to know about the benefits of studying abroad and how to choose where to go, as well as some ideas on how to cut your costs when you live abroad. Whether you want to study in New Zealand to be close to nature – or study in Europe so that you are always close to home – studying abroad can be a great experience.
Are you planning to study abroad? If you have to make payments to or from your home country, TransferWise could save you money compared to your bank
Before we start, a bit of information on international payments.
Going to university can be expensive. Courses you have to pay for, books you have to buy and, if possible, you also want to enjoy student life. Maybe you saved some money to go study abroad, or you have family or friends who help you, anyway, sending money abroad can be a business expense.
Banks and money transfer providers often give you the wrong exchange rate to make extra profits, and most of them use intermediary banks to send your money across borders. All of this can add up pretty quickly. However, there is an alternative.
TransferWise is different. Its new smart technology avoids high international transfer fees by connecting local bank accounts anywhere in the world. This means you can save up to 8 times using TransferWise rather than your bank when you send your money abroad. Oh, and TransferWise gives you the fairest exchange rate on the market, the middle market exchange rate.
Why study abroad?
Studying abroad is much more than finishing your diploma or a better understanding of the subject you have chosen. You will also have the opportunity to explore a new country, practice a foreign language, immerse yourself in an unknown culture, and develop precisely the type of general skills that many employers are looking for.
Studying abroad can set you apart from the crowd after graduation, as you show your flexibility and curiosity for new places and experiences. You may even find that the best provider of the course you want to take is based abroad – so by choosing to study in a new country, you get a higher level of education. It is also quite common for UK students to choose to study abroad to find places with lower tuition fees, better financial aid, and lower daily costs.
Studying abroad: points to consider
Studying abroad is an important decision and you will want to think carefully about your options. Here are some tips to help you decide where you should go if you plan to go to university abroad or participate in an exchange abroad.
What to study at university?
Of course, whether you choose to study in the UK or study abroad, you need to think carefully about the course you are taking. It is a very personal decision, but there are many resources to help you choose your options. A quick Google search will bring up many tools, from online profiling quizzes to course descriptions and statistics on the type of professions people find themselves in based on their choice of degrees.
Invest time in finding the best options for you, using your preferences, strengths, and the ideas of your teachers, friends, and family, to get the full picture.
Where to study abroad?
The place where you study will influence your university experience on several levels. Choosing a foreign language course in a new country with an unknown culture will be very different from choosing to study in an English-speaking country like the United States or Australia