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How to Earn Student Loans Abroad

Written by ESC Admin on 15 Sep 2020 Posted in Blog

Study in Europe

It goes without saying that, in general, shorter programmes like summer study abroad cost less than semester or year-long programmes. Besides that, there are various formats available which incur varying costs.

Universities generally offer the types of study abroad programmes:

Faculty / instructor-led programmes – tuition will be paid to your university of origin. Your Faculty teaches or supervises classes at the foreign university. These programmes may include accommodation and meals, or not.

Affiliate programmes – tuition is payable to an affiliate programme approved by the university. The big names like CIS and API include affiliate study abroad companies. Usually these programmes include housing, meals, insurance and support but tend to be pricier.

Exchange programmes – your home university is paid for the tuition. This differs from the faculty / instructor-led option in that you are going in a group on your own vs. This involves a higher degree of autonomy but greater integration into your university. These programmes may include accommodation and meals, or not.

The location can also have an impact on overall costs. Countries like Norway and Sweden, for example, and cities like London and Paris will have much higher pricing tags for housing, meals, and transport. If you're flexible about destination, explore expected living costs in some of the most popular study countries abroad.

Student loans can be taken out through the federal government or private lenders such as banks or credit unions, and used abroad for your studies. Based on your level of education (undergraduate vs. graduate) and the level of income, different types of loans may be available for both general study and study abroad.

Now that you know studying abroad is achievable, where are you going to go? Start by checking the websites for your study abroad at your desired university. Also be sure to check out free or cheap study abroad which could open up even more possibilities. The world awaits you; don't let financial worries hold you back!

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