A Complete Guide to Studying Abroad

Table of Contents

Studying abroad is an excellent way for students to broaden their experiences, and get the absolute most out of their education. It can seem like a daunting and expensive undertaking, but, with the right preparation, it's a very achievable goal.

Why You Should Study Abroad

Studying abroad is an unforgettable way to expand your knowledge base and gain a greater understanding of the world. Taking a step outside your home country exposes you to new cultures, new ways of thinking, and gives you the opportunity to form powerful new personal connections.

While you're in school is also one of the best times to travel. School programs exist to help you, and you don't have the responsibility of a job that may limit your vacation days.

How to Study Abroad

The options for studying abroad may depend on both your college and your program. Some degrees include specific opportunities to study abroad. Colleges also sometimes partner with schools in foreign countries to exchange students, so it's best to start on your school's website and look for information about how they support traveling students.

There are a number of external programs you can take advantage of as well, which offer scholarships and grants to study abroad with. Some programs are run by consortiums of colleges, which offer options for students who wish to study abroad.

With the assistance of your school, and the right scholarship or grant, getting part of your education in a foreign country could be easier than you think.

Study abroad programs and scholarships can be quite competitive, and you'll be expected to demonstrate your academic achievement, and that you can handle your additional demands. Opportunities to go abroad within degree programs are often even more competitive, but offer the most structure, making them largely ideal.

If you have to travel using programs that aren't within your college's administrative processes, then you'll need to make sure the school you select and your college have compatible transfer credits. It would be awful to return home and discover all the learning you did isn't recognized by your school.

Where To Study Abroad

Where you go should depend on a number of factors, and you'll want to be careful about what country you choose.

If you're traveling via a program within your major, then the location may be chosen for you. A group of students all going to the same place. On the other hand, if you're using external resources you may have many more options.

Where you choose to go should depend on your major, and on your comfort levels with different languages and cultures. If you're taking a major or minor in a specific language, for example, it makes sense to travel to a country that primarily speaks the language you're learning.

If, on the other hand, you're not practiced at learning new languages, you might want to pick a country where English is at least spoken as a supplementary language, if not an English speaking country. Picking up a new language in addition to your regular studies could prove difficult and put you behind on your studies.

Be prepared for culture shock — even in other English speaking countries. No two countries are the same, and it can take some time to get used to the way things are done, how transportation works, and how people interact with one another. Carefully selecting the location you are traveling to could have a huge impact on your success and educational value from the experience. It's perfectly fine to travel somewhere with a very different language and culture if you're up for the adventure, but make sure you're truly prepared for how long it might take to adjust.

Financial Preparations For Studying Abroad

The main challenge of studying abroad is that access to money in a foreign country can be very limited. You'll likely have a very strict budget to work with, either the funding from your school or a grant or scholarship you applied for. That's a set amount of money, so you'll want to do your research about cost of living in the country you're going to.

Make Exchange Rates a Consideration

When you're choosing what country to go to, take into account the exchange rate of their currency with your home currency. If you want to study in England, for example, you're likely to lose money because the Pound Sterling is worth more than most other currencies (generally — exchange rates often shift so this may not always be true).

It may benefit you to travel somewhere with a currency valued less than your own country's. That way, you gain money on the exchange rate. Remember cost of living, however. High costs of living can negate whatever you would gain on an exchange of currency.

Depending on where you're traveling and how you get there, you might need to transfer money between currencies more than once. If you're going to Europe or South America, you might end up visiting multiple countries during your travels. In these cases, it's especially important to keep track of not only exchange rates, but the fees associated with transferring money back and forth. To reduce the attrition of your finances, it's important to look for services with the lowest fees and reduce how many times money changes countries as much as possible.

If you plan far enough ahead, you can actually wait for the best exchange rates. Exchange rates often fluctuate, but you can use an alert tool to notify you about changes in exchange rates. The further ahead you plan, the more time you have to wait for a better exchange rate before sending your money to the host country.

Find Out If You Can Work

Many countries, especially in Europe, will actually allow you to work on student visas, though under strict laws and regulations. Do your research carefully about whether you'll be able to work in your host country, and for how many hours. Working even a few hours a week can substantially assist your budget and reduce the financial stress of travel.

Another benefit to working while you're studying overseas is the job experience. Having experience working in a foreign company is an extremely useful thing to put on a resume. If you're studying in any sort of field related to politics, international relations, or international business, a work experience in a foreign country is a huge boon once you graduate and start job searching.

Send Your Money Overseas

Here comes the big question: how do you get all that money to your host country? There are actually several ways you can send money overseas, and not all of them are equal. They differ in cost, convenience, and time.

Traveling With Cash

This is the simplest way. You can exchange cash for cash at most airports, but you're stuck with whatever exchange rates and fees they offer, which might not be the best. There are also restrictions, depending on the country, on how much cash you can carry.

Money Transfer Agency

This option is useful because it doesn't require a bank account in the destination country. You go into an office in your home country, transfer the money, and then when you arrive at your destination, go and pick up your cash from an agency office there. Again, you're pretty much stuck with the rates they quote you.

Wire Transfer

This method is excellent for large amounts of money, but it's a bank account to bank account transfer, and can take a long time. It can also come with some pretty hefty fees.

Transfer Money With An Online Service

Transferring money online gives you the most options in terms of fees and exchange rate quotes. You can easily shop around, and your ability to choose delivery methods makes this option the most flexible. It's best to do this from bank account to bank account, for various reasons, but in a pinch, you can try to find a service that does cash pickup.

Some of the services available to you to transfer money online include:

You'll want to check the fees and rates from all the different services, plus use that exchange rate checker to notify you when the currencies are in a good position to transfer.

Organize Your Living Situation At Home And Abroad

Don't pay for two living spaces at once. If you're locked into a 12-month lease, check and see if your landlord allows subletting. Make sure you organize a subletter early, and ideally try and find someone you know to take over the lease, because if your subletter doesn't pay you're still responsible, which can affect your ability to rent in the future.

Find out what kinds of accommodations you can get through the exchange program, but check out the local living space for rent as well. It could well cheaper to use an apartment close by, rather than stay on campus, as long as you're within a reasonable distance.

Some programs will also offer host family placements, where you can live in the home of a local family. This can be an excellent option, because you'll have people to guide you in the local area, and help you adjust to any cultural differences you encounter. On the other hand, if you don't get along with your host family, you could be with them for a long time, so weigh this option carefully.

Traveling abroad can be a definitive, unforgettable experience. With the right planning and foresight, it could also be a lot easier than you think.