Is studying abroad expensive? Not necessarily if you manage your money efficiently and avoid these blatant fails.
Don’t overpay in tuition fees
As an international student, you must research the student fees and overall cost of your education in advance. If you plan on studying abroad in Europe, check Germany, Norway, or Iceland that offer free or very affordable degrees from public universities.
| Country | Average tuition fees for international students* |
|---|---|
| Austria | €1,500 |
| Hungary | €1,500 |
| Greece | €1,500 |
| Poland | €2,000 |
| France | €2,800-3,800 |
*from outside of EU/EEA
Moreover, you don’t have to cover all expenses yourself! Every year Europe offers over €16 billion in scholarships, so why not try to get one.
At university, don’t blow your academic progress. Your hard work may be rewarded with discounts on student fees for academic excellence.
Don’t overlook student cards
There are thousands of student discounts if you hold a proof of the status, such as the International Student Identity Card (ISIC). Available in over 130 countries, it is valid from 1 September till 31 December next year. The digital subscription fee is €15.
Those who choose to study abroad in Europe might consider getting a European Youth Card. Available in 36 countries for anyone under the age of 31 (26 in some cases), it is packed with countless discounts and offers opportunities for international students to volunteer and work – all at a cost of €14 per year.
Such schemes enable young people to fully appreciate the benefits of studying abroad, saving on anything from travel to events.
Don’t forget about student discounts
Make the best of your international student status when shopping for necessities and indulgences. Never hesitate to ask if you’re eligible for a student discount offered by many brands, including:
Fashion: Topshop, Adidas, RayBan, Timberland, Calvin Klein, Puma
Gadgets/software: Samsung, Apple, Microsoft’s DreamSpark, Adobe’s Creative Cloud, Spotify
Online stores: ASOS (clothing and cosmetic brands), Amazon Prime for Students
Travel: Save money by using cheap booking services such as Skyscanner, Kayak or StudentUniverse. You can also get an International Youth Travel Card (IYTC) or a Eurail Student Pass (Eurail Pass Youth) to budget your trips.
Don’t waste money
The time of studying abroad is ideal to start managing your funds responsibly.
Don’t buy new. You can save a fortune on furniture, a car, gadgets and even textbooks if you buy used from eBay, Amazon, or your local marketplace.
Don’t pay for everything by yourself. Share an apartment with someone to cut your payments for rent, groceries and utility bills. Travel in groups to save on tickets and accommodation. Throw potluck parties.
Use smart services while studying abroad. Get an app for public transport. Register with a global freelance platform such as Upwork for extra income.
And most importantly, know how to handle your transactions and optimise your balance sheet. Research your options for a bank account / debit card, avoid paying interest on your credit cards, redeem cashback, and so on. If you need to send money, opt for an online money transfer service such as Profee. It is fast, reliable and user-friendly: you can transfer money online in just a couple of clicks. In addition, it offers very low charges combined with the best exchange rate. Get it as an app for iOS or Android or visit www.profee.com.
Be smart!
As you can see, avoiding financial fails as an international student is easy and even fun! With some planning and new services such as Profee, the benefits of studying abroad are endless. Use them!
