Explaining the Cost

A Parent's Perspective on Studying Abroad

I know friends are watching how we handle sending our daughter 4,000 miles away to study at the University of Hertfordshire. Their reactions are both curious and concerned.

Some wonder if they are prepared to send their own children off to colleges, both near and far. Others find the ideas of global education fascinating and eye opening, a possibility not previously considered.

But there is nothing magical or easier about studying in another country. If anything, the process and challenges magnify the same problems every college freshman encounters, where studying close to home may only mask the issues. Over the next few posts, I will try to explain some of the actions and decisions we made that prepared both our daughter and us for this decision.

Explaining the cost can be tricky

 
Education anywhere is expensive. Having a good cost comparison will help you understand both the real cost and the value of the education gained. Many are surprised to learn that higher education is cheaper overseas. The assumption is that exchange rates and travel are cost prohibitive.

We eventually used the comparison of a state school to explain the cost.

 Tuition at Hertfordshire International College is roughly equivalent to Ball State University's in-state cost. It's possible that with scholarships and local grants that Ball State could be cheaper overall but a comparison of the per class tuition cost, travel expenses and average exchange rates highlight hidden potential savings in the UK.

But since she is studying in a country with a state funded education system, she is responsible to pay for her education up front without help from the UK government. This self-funding means that she is more acutely aware of what it takes to fund her education, and less likely to squander her time or experiences. She is also less likely to flippantly take on large debt.

Not all value can be defined on a balance sheet

In the UK, if you are willing to eat like the locals, then preparing your own food is actually healthier and cheaper than in the US. The all you can eat buffets American colleges provide are expensive and do little to foster a student's understanding of independent living or the value of money management. This might also explain why so many "millennials dedicate the highest share of their income to food and beverage" according to restaurantdive.com.

In the UK, where locations are more compact and fuel expensive, many people walk. And yes a plane ticket can be expensive but we don't expect her to fly home every weekend to wash laundry. Compared with a three hour drive to her second choice school, we can potentially save money in the area of transportation.

But the biggest difference is that Hertfordshire is ranked 20th in the world for Animation where Ball State is ranked 13th in the US Midwest. Include the global exposure, proximity to London and cooperation with international studios, it makes sense for her to pursue the bigger return on investment. But with this also comes the possibility that she could land a job outside the US, not in itself a bad thing, but something to consider.

In my next article: Fostering Independence