For many American college students, studying abroad is an exciting way to become immersed in another culture and to gain life-changing experiences. But it is also a luxury. The cost of traveling — on top of the significant financial burden of attending a university in the United States — makes studying abroad challenging, and finding the right country to visit according to your budget can be difficult.
The research firm ValuePenguin recently put together a study to determine which of the 48 most popular countries for Americans to study abroad are also the most affordable. In the study, they considered many factors like the cost of rent and utilities, flights, groceries, transportation, student visas, and more. On the flip side, the report also shed light on which of the popular countries were most expensive.
ValuePenguin found that Mexico, India, and Guatemala are the cheapest overall for students. Latin America, in fact, is home to half of the most affordable destinations to study abroad. And while Europe may be a desirable study-abroad destination, it isn't exactly budget-friendly: None of the 10 cheapest countries was in Europe, while six of the 10 most expensive countries were there. (The most expensive countries were Singapore, Switzerland, and Norway.)
Though this study was geared toward the most affordable destinations, the factors taken into account are just as relevant to consider as a post-grad traveler. Even if you're out of school, take a peek at the results to see which countries are most affordable. It's never too late to expand your horizons, and if you can do it on the cheap, all the better.