Prepare for Sticker Shock if You Plan to Study Abroad
By SHELLEY EMLING, Cox News Service
Sunday, May 25, 2008
LONDON — As college students in the United States pack up and head to Europe
this summer to attend academic programs, a weak dollar and the high price of oil
are making it tougher.
About 225,000 U.S. students will study abroad in 2008 in what many hope will be
a life-altering experience to broaden horizons and develop independence.
With the greenback down by more than 20 percent against the euro and about 6
percent against the British pound in the last two years, many colleges have had
to raise the costs of study-abroad programs.
Others are encouraging students to try less expensive destinations such as Latin
America or Asia rather than traditional but more costly European destinations
such as France, Spain, England and Ireland.
International Studies Abroad, a study-abroad provider based in Austin said it
was forced to raise prices on about two-thirds of its euro-based programs by
about $400 each in October to keep pace with the weakening dollar.
According to ISA, students must shell out $14,900 for a semester in Rome next
fall, which includes tuition, room, and board, while a semester in Costa Rica
runs at less than $8,000.
Participation in study-abroad programs at the University of Texas at Austin hit
a record 2,244 students during the 2005-2006 academic year, the most recent
figures available, ranking the school third in the nation, according to the
Institute of International Education, a New York-based nonprofit organization
that administers study-abroad programs.
Statewide, Texas institutions send more than 10,000 college students abroad each
year.
Heather Barclay Hamir, director of UT's Study Abroad Office, said she expects
enrollment numbers this year to be on par with previous years.
However, in time, the weak dollar could take a toll.
"Trying to assess the impact of the U.S. dollar on decisions to go or withdraw
from programs will be complicated by the changes occurring right now in the
availability of student loans," she said. "Students may have intended to go, in
spite of rising costs, but could find themselves unable to secure the necessary
funding.
"So far what we're finding is that they are likely to consider cutting back on
their personal travel and expenses instead of eliminating study abroad from
their plans," she said.
Hamir said that students are looking beyond traditional European destinations
such as Italy, France, and England and are focusing more on non-traditional
regions such as the Middle East.
This increasing interest is reflected in UT's agreement to a multimillion-dollar
contract to help build a new university in Saudi Arabia. The $10 billion
facility, the King Abdullah University of Science and Technology, is scheduled
to start offering classes in 2009.
St. Edwards University in Austin, which will send about 200 students overseas
this year, is seeking to make study-abroad programs more affordable by linking
up with two French universities in order to expand its France program.
The collaboration will allow St. Edwards to lease office, housing, and classroom
space in the Angers region in western France.
In addition to the costs of study-abroad programs, daily expenses also are
likely to give students sticker shock.
"There's no doubt that if a student studies in the UK or any of the European
countries using the euro, the day-to-day expenses are expensive," said Lee
Frankel, director of Academic Studies Abroad, a private company based in Boston
that arranges study-abroad programs around the world. "However, most students
realize this is a once-in-a-lifetime opportunity, so they are willing to make
the sacrifice."
Students who have participated in study-abroad programs have learned the art of
pinching pennies.
Kim Ybarra, a 21-year-old junior at the University of Dayton, spent three
"great" weeks in Italy last summer.
"It was the first time I'd gone to Europe and I found it to be very expensive,"
she said. "It was always hard to do the math and to really realize that three
euros is not the same as $3 but that it's $5.
"I found myself running short of money before the end of the trip," she said.
Despite the weaker dollar and post-9/11 security concerns, the number of U.S.
students participating in study-abroad programs has increased dramatically in
recent years. A record 223,000 U.S. students studied abroad during the 2005-06
academic year, up 8.5 percent from the year before, according to the most recent
data available from the Institute of International Education.
Experts say the surge is partly due to a spike in interest in foreign countries
following the 9/11 terrorist attacks and also because universities are placing
an increased emphasis on international studies.
Expenses are cheaper in places like Asia, Africa, and Latin America and often
their currencies haven't battered the dollar as much as the euro and the pound.
Studies show that enrollment in programs in alternative destinations outside
Europe has been particularly healthy over the last few years where the dollar
isn't as weak.
"For instance, we are encouraging students who want to improve their Spanish to
look at our Argentina and Chile programs where the dollar is strong," Frankel
said. "In Buenos Aires our students can live in a world-class city yet still get
a fantastic meal for under $10."
The number of students studying abroad in Europe increased by only 4.8 percent
between the 2004-05 and 2005-06 academic years, while those going to the Middle
East jumped by 31 percent, Asia by 26 percent, and Africa by 20 percent,
according to a report by the Institute of International Education.
Besides costs, another huge factor behind the shift away from traditional
locations such as England is the rise in English-language programs now available
in places like China, Japan and France.
"In the past there was a huge preference for Britain and Ireland and Australia
but today that's changing because so many programs in other countries are
offered in English today," said Allan Goodman, president of the Institute of
International Education. "Years ago one almost had to be fluent in French in
order to do a semester in France but that's no longer the case."
In the end, Frankel argued that for many students it's still actually cheaper to
study abroad for a semester than it is to attend their home institution.
"For instance, if a student attends a private college or university in the
United States they likely pay between $15,000 and $22,000 per semester," he
said. "The clear majority of our programs are well below $15,000 so it's a good
deal."
Source:
http://www.coxwashington.com/news/content/reporters/stories/2008/05/25/STUDYABROAD_TX25_COX.html
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