Study Abroad Tips

Want to study abroad? Find your return of investment

Apr 1, 2019

Tuition, housing, transportation. The costs of studying abroad can be quite daunting. But is it worth it? Absolutely. As the old saying goes – an investment in education is an investment in yourself.

Not only will you be increasing your knowledge, you’ll also increase the chance of a higher salary and also make solid networks with the people you’ll meet. This will all change your life for the better.

Fund Your Education

It’s hard to say how much on average it costs to study overseas, but cost is usually the main barrier for most students – but it doesn’t have to be. Scholarships are often what students turn to, but they are competitive and come few and far between.

Other ways you could consider looking at financing your education abroad include:

Private Bank Loan

The key thing about taking a private bank loan is to start the process as early as you can! As you start your research, you’ll learn that loans come with varying rates of interest. Some banks require a cosigner, so be prepared for that too. Take your time to digest all this information, and also go through the fine print before you sign it. You should also be checking for pre-payment details or if there’s an option to extend it in case you are unemployed after graduation.

Decided on taking out a loan? Forbes has tips on how you can keep your costs low, including not taking out debt that’s more than your expected first year salary, and to keep your repayment to less than 15% of your monthly gross income.

Financial Aid

Aside from banks, there are a lot of private and public organisations that offer additional sources of funds for studying abroad. Some of these institutions will give funding in exchange for your commitment to contribute to the company or industry. This is especially helpful if you’re already sure about the industry that you want to go into – like hospitality, engineering or aviation.


Crowdfunding, a way of raising money from a large number of people over the internet, is a rising trend and increasingly becoming a fearless way for some enterprising students to pay for their international education. A lot of crowdfunding sites are online businesses, and there will be fees involved. However, if you do some digging there are some specialty crowdfunding sites that give you the option to avoid fees if it’s specifically for your studies.

Work as You Study

Some countries even let you work part-time. An Australian student visa lets you work 40 hours every two weeks, which should be enough to cover some cost of living while you’re there.

Have great computer skills? Try working freelance online where there are lots of ad hoc work like transcribing, editing and social media management. Even better if you can code!

Choose the Right School

Depending on where you go to school, you can also check how the country, university or programme will affect your investment in your studies. Think about factors such as how much it would cost to live in a certain country, or what the odds are that a university or programme will increase your earning potential.

According to travel money experts FairFX, the European countries for best value to study are Italy, Germany and Finland. Some European universities don’t even charge tuition fees at all.

Your Return in Investment

Did you know that in the UK, if you’re a university graduate you’re likely to increase your lifetime earnings by at least £170,000? That said, you’ll have to be smart in calculating your return on investment (ROI). Many graduates do find themselves in large student debts and find themselves not making enough per annum to cover their payments.

Forbes also lists out a way you can make the calculations to find out your potential ROI at the end of your studies.

What Money Can’t Buy

At the end of the day, an international education – whether you do it for a short while, on campus or online – will provide you with an experience like no other.

So while you consider the return on monetary investment, don’t forget the worth of the knowledge you’ll get, the adventures you will go on and the lifelong networks you will make. It’s priceless.

Ready to make that investment? Read more about Sqore and how we can help!

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