Studying abroad may be an alluring idea in college. But the cost makes it a reality for only about 300,000, or 1 percent, of students each year, according to NAFSA: Association of International Educators.
Program prices vary widely by school, region, and other factors. Brown University students, for example, must pay $24,136 for a semester in such locations as London and Kyoto, Japan, excluding health insurance, travel, housing, meals, books and miscellaneous expenses.
For some insight into the value of studying abroad as well as to get tips about locations, and saving money, Reuters asked Stacie Berdan, author of "A Parent Guide to Study Abroad," to demystify some of the complexities of these programs.
Q: How should parents and students look at the often high cost of study abroad programs?
A: As a parent, I understand that price matters a great deal. But as a business woman, I recommend parents look at the value of the experience and its return-on-investment, or ROI.
Q: What countries tend be more affordable?
A: Generally speaking, Western European countries such as England, Italy and France are inherently more expensive than developing countries such as Peru, Senegal or Thailand. The difference has to do with the host country’s overall standard of living and the overall cost of basic goods and services.
Q: What steps do you recommend parents take to help shave some costs?
A: Every year tens of millions of dollars are given to students to study abroad. Most colleges and universities with study abroad offices have a wealth of information about the various forms of scholarships available from a variety of sources.
IIE (Institute of International Education) offers the most comprehensive listing of study abroad resources online (http://studyabroadfunding.org).