Studying abroad on a Budget? Use these Tips

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Our goal is to make your visit as stress-free as possible! When studying abroad, students must have money. Before and throughout your time studying abroad, we’ve put together some advice that can help you study abroad on a budget to save money and lessen your stress.

1) Submit early scholarship applications!

We cannot overstate how crucial this is. The earlier you apply, the greater the likelihood that you have a chance of not just getting money, but getting more money! There are innumerable sums awarded in scholarships. Nearly all study abroad programs provide financial aid to students. If you have a GPA of 2.5 or higher, our office even has a scholarship available for you! Try some

Get Up to $100,000 Student Loan for Your Master in US or Canada - See if you are eligible

Got Admission to Study in US or Canada? See if you are eligible for international student loan

Do your homework and apply for other scholarships as well!

2) Use a proven consultant!

We strongly advise getting the services of platforms like EdXtra. These companies are beneficial both before and during your study sessions. And they are typically the less expensive choices.

3) Decide on a place with a low cost of living!

You can stretch your dollar a lot further thanks to the many currency exchange rates available. Check the exchange rate in the nation you are considering, as it may be higher in some nations. A few English-speaking nations, like Australia and the United Kingdom, have the highest cost of living.

4) Keep out of big cities!

Okay, so it’s possible that you are determined to move to a nation with a high cost of living. Then, we advise studying in such nations’ smaller towns. Smaller cities are typically significantly more affordable. However, it does not follow that you must completely avoid the big cities. Note that the majority of major cities are only a bus or train trip away!

5) Select a homestay!

There are several places where you can choose to reside while you study. In essence, this means that you go stay with a local family in the nation where you are studying. Students who return after studying can be a little weird or even frightening.

Foreigners adore their homestays! You get accompanied by genuine locals and also get to eat local cuisine! Others will even do your laundry! If you don’t think homestays are for you, choose to live in a campus dorm and purchase a food plan. On occasion, it can be the cheapest way to eat when traveling.

6) Create a spending plan for yourself! 

Determine how much you should spend each week. Then perhaps divide it! Have envelopes, for instance, for your spending. Keep them in separate envelopes if you only want to spend $50 on personal purchases for the week and $100 on food. Once you get a handle on your spending, you may change the amounts and keep track of how much money you are spending and on what.

7) Take public transit!

While studying abroad, some students who are not accustomed to using public transit may try to avoid it. We support public transportation if it is safe! Our top priority is keeping you safe, so use common sense! It’s advisable to travel in groups or with a few companions, especially at night. The cost of often using cabs can build up quickly. Bus and subway systems are not only more affordable but also quicker! Just be sure to keep a tight eye on your belongings. Additionally, keep your valuables nearby since tourists on packed public buses and trams are a pickpocket’s paradise!

8) Ask about discounts for students!

There are frequently many chances to get discounts when browsing for things to buy! Ask questions and keep your student ID close at hand. Student cards with discounts on museums, public transportation, and hostels are also available in some places. Therefore, make sure to look into the possibilities in the nation and city of your choice. As a student, there are occasions when you may purchase items like coffee, movies, museums, transportation passes, books, etc. for significantly less money. Make the most of it!

9) Look for free amusement!

Find enjoyable activities that are free to participate in! The general public can access some items for free, including museums! Be flexible and open-minded!

These pointers are intended to assist you in selecting a reasonable program and prudently handling your spending while you are overseas. Send us an email at publish[at] if you have any tips on how to study abroad on a tight budget; we’d love to hear them and pass them along to other students.

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Do you want to study abroad? Note that obtaining a bachelor’s degree or a master’s degree in this field helps to improve your chances in the labor market. Studying abroad is no joke for international students due to the cost. However, you can achieve your dreams without breaking the bank by applying for student loans, which you can pay for as long as 10 years. 

MPower Finance and Prodigy Finance are some of the best student loan providers for international students. They also do not require a cosigner or collateral before an application. Reach out to us today, and let’s help you get started. 

Read Also:

7 important things to consider before picking a study abroad destination

Scholarship opportunities available for international students studying Arts courses

Scholarships for LGBTQ+ Students: Promoting Inclusivity in Education


  • Okechukwu Liberty is a graduate of Mass Communication and a content writer for AfterSchoolAfrica. He is dedicated to researching scholarship and empowerment opportunities to students looking to study abroad.

    Content Research Writer