The step-by-step to avoid getting into debt with your children's studies
Your child is dreaming of studying abroad but, from what you've heard, this is a big investment and you can’t stop thinking: “Will I be able to pay for collage abroad?”
As experts in study abroad pathways, we have worked with hundreds of families who did not have many resources and have managed to get their children to study abroad without having to sell a limb.
Sounds good right? Let's keep going!
Find out the net price
In order to define how affordable a college is, you must first know what the net price is. The net price is the amount of money you will have to pay after subtracting the scholarships and grants your child will receive (also called financial aid) from the total value.
In that sense, there is a big difference between the US and Europe.
Let's talk about the USA.
A public 4-year university in the United States costs about $25,620 / year, while a private 4-year university will cost around $34,740 / year. One option may be to get a scholarship at The Fulbright Program or loans at InternationalStudentLoan.com.
Let's talk about Europe now.
A university in the UK costs around £13,000 a year and a private university in Spain, Italy or France costs around €10,000 a year.
It should be noted that Germany has good public universities, where university fees range between 200 and 1,000 euros.
Analyze the possibility of getting into debt
By "debt" we mean the amount of a student loan that you can afford to pay after your child graduates. You should also take into account what your / your children possible salary will be upon graduation, as this will influence the final decision.
There are hundreds of families that have managed to pay for their children's studies abroad. So that your finances are secure, and you can speak with clarity to your children about the real possibility of studying abroad, we offer you a gift: our budget planner.