How can you finance your studies abroad?

In addition to the scholarships and grants to which you may be entitled, there are other ways of financing your studies. You could, for example, get a student job, or take out a student loan with often advantageous conditions: low interest rates or the possibility of repaying only after you’ve found a job, for example.

Additional costs

Please note that the above rates only cover tuition fees. In addition, there are the expenses inherent in everyday life: rent, utilities (water, electricity, heating), food, telephone, internet access, insurance, travel costs, the purchase of books and supplies, and even outings – expenses that can be higher or lower depending on the destination. Don’t hesitate to go directly to the university websites, which often provide tables estimating the overall budget for a year of study!

To avoid unpleasant surprises, it’s best to anticipate all the expenses associated with your university studies. To help you see things more clearly, here’s a budget model to consider studying in London, a popular but expensive destination:

Renting a private dwelling : around €700 and €800 a month.
Food: €300 to €400 per month.
Transport ticket : about €80 per month.
Out and about : from €200 to €400 per month.
University sports club membership : between €20 and €30 per year.
Telephone subscription : about €20 per month.
Total budget : 1,300 and €1,700 per month.

What’s more, since the university year only lasts eight or nine months a year, you can exclude the summer period from your annual budget, when you won’t necessarily be on site!

Our budget tips

Be realistic

Major cities such as London, Chicago and New York offer a wide range of accommodation options, although these can sometimes be expensive. The majority of urban universities offer students accommodation in a hall of residence close to campus or in the city during their first year. However, most urban universities will only guarantee accommodation during your first year of study. During the process of choosing your destination, try to draw up a detailed provisional budget to find out whether you or those around you will be able to cover all the expenses you’ll have to face. This will also help you narrow down your choices of destinations and universities. The cost of living in London, New York or Stockholm, for example, is much higher than in cities like Nottingham, Montreal, Madrid or Utrecht.

Share your costs

If you’re looking to rent private accommodation, why not opt for a shared flat? This will enable you to share the rent and bills according to the number of housemates.

Never leave home without your student card

As a student, however, you’re entitled to some special treatment, and can benefit from some interesting discounts that can lighten your daily expenses a little: free admission to museums, savings on cinema tickets, reduced-price menus at restaurants or even discounts on your public transport card – your student card will become your best ally.

Seize every opportunity

You should also be aware that some events (shows, cinemas, concerts, theater, opera) are even free or at very reduced prices for students. Keep your eyes peeled and find out how to take advantage of these benefits!

Find all the answers to your questions about studying abroad in our book “Etudier à l’étranger après le Bac” (Studyrama Editions).

Would you like more personalized support to make your plans to study abroad a reality? Don’t hesitate to contact the Your Dream School team!