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How much does it cost to be a foreign exchange student?

Are you thinking about participating in a foreign exchange programme? Then you will be glad to know that the annual rate of students going abroad for studies has increased by 10% from 2023 analysis. Studying in a different country does indeed sound tempting. But the most significant hurdle between your dreams and you is the cost to be a foreign exchange student.

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There are plenty of writing essay help services that help students with the abroad studies applying and application process.. In this blog, we have gathered all the answers regarding the expense of being an exchange student. 

How Much Does It Cost To Be A Foreign Exchange Student?

Do you want to estimate the cost of foreign studies? If yes, then the very first thing you need to do is consult the respective exchange organization. The price depends on the country you are going to study and what institution you are selecting for the degree.

  • Most organizations charge between $9000 and $10000 for an exchange period of a year. Different institutions offer different deals and packages for students. Some have higher prices while others are very budget friendly.

Stats of Top Foreign Exchange Organizations for Students 

Foreign Exchange Organization 

Operating Countries

Cost Ranges 

AFS

Canada, New Zealand, France, Japan

$16700

Youth For Understanding

Argentina, Australia, Austria, Brazil, Chile, China, and 35 other countries. 

$10,000-20,000

CIEE

Germany, Chile, France, Ireland, Japan, Spain, and New Zealand. 

$19,968

Rotary Youth Exchange

Operates around 100 countries around the globe.

$7,250

SPI

France, Spain, Costa Rica, Italy. 

$3700-$7000

Sol Education Abroad

Australia, Brazil, the United Kingdom, China.

$18000

What facilities can you get from an exchange organization? It’s the responsibility of the exchange organization to give the student insurance, a flight, a travel visa, a place to live, and finally, an institution to study. There are also some firms that give loans to students to cover their expenses while studying abroad.

The best tip for being a foreign exchange student is to opt for funded scholarships. Look for the opportunities in the current institute you are studying at. There might be some exchange programs and scholarships you are eligible for. This is the best way to be a foreign student because the scholarship stipend will cover your fees and expenses at campus. 

Best Fully Funded Scholarships

Scholarship

Nature of Funding

Fulbright Scholarships USA

A fully funded Master’s And PHD program. 

Yale University Scholarships

Often provides merit based scholarships and gift aid that does not need to be repaid. 

AAUW international Fellowship

Awarded to women for full time study and research in the United States. 

Clark Global Scholarship Program

Several Merit and Achievement Based Scholarships

Cornell University Financial Aid

Provides substantial financial aid in the form of grants and funds. 

Pro Hack of Foreign Studies By A Former Exchange Student

Do you know what is the most affordable way of living as an exchange student? It’s to get a part time job. Most students who study at foreign campuses get a part time job to support their daily expenses. You must be thinking it’s going to be exhausting to work and learn together. Indeed, it’s tough.

But the tip here is to find a job that is suitable for your course of study, like getting a job at a library, at a store closer to your school, cleaning at a gym, at a coffee shop, at bookstore, or becoming an essay help writer. Such jobs give you enough time to focus on your studies as well as earn good money for fixed hours.

The Cost To Be a Foreign Exchange Student 

You must have heard the saying that everything comes at a cost. Being a foreign exchange student comes with plenty of perks. You will get to visit a new country, meet new people, learn about new cultures, and experience new things. It’s a once in a lifetime opportunity. But all of this golden experience comes at a specific cost that every student has to pay. 

Country 

Average Exchange Cost

Netherlands, Finland

$12,950

Mexico 

$8,950

Canada

$13,750

Australia

$15,500

China, Taiwan, Mongolia

$11,500

Japan

$12,500

South Korea

$13,500

Czeck Republic, Denmark

$11,950

Italy

$11,950

France

$11,950

Are you considering going abroad as an exchange student? First of all, that’s great. Secondly, you need to be aware of how much does it cost to be a foreign exchange student. In the section below, we are going to discuss what you need to be prepared for before considering a foreign exchange program. 

Be Ready To be Financially Responsible

Isn’t it great that you will be financially independent in a foreign land? It’s undoubtedly liberating. Now, read it again. You are financially independent and responsible for your own expenses. That’s where most students get the reality check. It might sound liberating at first, but once you realize that you are on your own, it gets challenging.

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  • You have to be more careful while sending the money because you are no longer in your home country.
  • You don’t have your family and parents around to help you financially. 
  • The high exchange rates of most foreign countries will take plenty of money in exchange for a small amount of foreign currency. 
  • You need to have a constant flow of funds to afford a living. 
  • You will be responsible for the money that will be used for books, clothes, hanging out with friends, toiletries, food, and transportation. 

The Host Family’s Costs 

The exchange organization may find you a host family to live with during your stay in a foreign country. The responsibility of the host family is to provide you room to stay and food to eat. They will cover the basic expenses that are decided between them and the exchange organization. To have this communication, you need to write a proposal beforehand. If you don’t have a clear idea of it, you should know how to use chat GPT to write an essay to get a comprehensive content.

But if the host family is taking you out to restaurants and other places to visit, you are more likely to be paying for yourself. It’s always recommended to discuss all the necessary information with the host family beforehand. This is going to avoid any confusion and misunderstandings between you and the hosts. 

Students Trips

Get ready students! Here comes the exciting part. You are more likely to be enjoying some student trips during your exchange journey. The costs of these trips vary from place to place but you should have set approximately $1500 in savings. If you can’t afford to earn money for a bigger trip, you can also enjoy traveling through public transport and enjoying the host country on your own.

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Have an Emergency Fund Ready

You don’t want to be empty-handed when the emergency arises, do you? That’s why it’s very much recommended by every foreign paper helper to have some funds for the times of urgency. Keep emergency funds of approximately 1000$ separate from the money you need to send for your daily expenses. You can ask your host parents to help you with opening a local bank account. 

Conscious Of Your Budget

Do you have a problem with spending your money? Are you a free spender? If yes, then you have to change it. Being a foreign exchange student is an extraordinary experience but comes at the cost of becoming frugal. You have to be mindful of where you are spending and how you are spending your money. You can’t be wasting your funds on wasteful things and habits. 

Tip for Students!

  • The biggest perk of being a foreign exchange student is learning to be mature about your spending and managing different expenses all together. You can divide your budget according to your expenses like 10% for transportation, 20% for food, 10% for books and stationery, and 15% for outings and parties etc. 
  • Alongside your studies, you need to find jobs and be practical about life. Your routine will become more functional and productive. You need to learn how to shorten essay assignments and projects so you can utilize that time to make a living. 

Final Take Away Before You Consider Foreign Exchange

Always remember that it’s not easy, but it’s not impossible. Millions of students around the globe have made it, and you can also be one of them. You have to be mindful of how much does it cost to be a foreign exchange student. Be ready to work hard and prepare yourself to be a mature version of yourself. 

If you are confused about it and thinking whether it’s worth it or not, always remember that to achieve greater things in life, you need to be ready to put your ship out of the harbor. It’s definitely worth it and you will always be grateful that you consider traveling the world for studies and grand memories.

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