A Master’s degree can cost between $30,000 and $120,000 according to research by FinAid.org, an amount that can be unaffordable for the average graduate who is already saddled with debt. Not being able to afford a postgraduate degree can be frustrating for ambitious students, especially those who wish to make the biggest return from their investment in education. In the U.S., the gap in earnings between undergraduate and postgraduate degree holders is sizable, amounting to around 17% in areas such as software engineering and 22% in business (i.e. comparing a bachelor’s degree and a master’s degree). How can study abroad help you leap across this gap and enjoy a more fulfilling professional life back in the U.S.?
The Cost of Postgraduate Degrees Abroad
Law student Leo Cutting recently reported that the high costs of a year-long MA in the UK (around $5,000) was way beyond his means. Keen on pursuing an LLM in Public International Law, the keen student researched fees in other countries, finding that this qualification cost less than $1870 at the University of Leiden in the Netherlands. This university in particular has an excellent reputation on a worldwide scale, ranking within the world’s top 100 and ensconced between the dynamic student cities of Leiden and The Hague. The University has another bonus for foreign students: it is known for its international nature, with students from across the globe being attracted by its stringent standards and buzzing student lifestyle offerings.
Reducing Costs Further
The current pandemic is highlighting the utility (and the possibilities) of online education, both for school and university students alike. It is also sparking a stronger interest in online study for postgraduate degrees, bearing in mind the significant cost and time savings that can be made by choosing this option.
As stated in www.mydegreeguide.com, today’s students are looking to maximize return by opting for shorter degrees — including accelerated bachelor’s degrees, one-year doctorate programs and thesis-free Master’s degree. Opting for one of these accelerated degrees from an already more affordable university abroad can reduce costs further and enable you to continue working full- or part-time at home while getting significantly closer to your dream job.
Countries to Consider
Just a few countries that might be of interest if you are considering a postgraduate degree abroad include Italy and Spain. These countries are known for their sunny weather, rich cultural offerings, and active student social life. Other choices in Europe that blend a rich educational offer with cost-friendly living conditions are Lithuania, France, Germany, and Portugal. A Master’s degree in Spain costs anywhere from €300 to €3,500 per year. In Portugal, you can expect to pay between $950 and $1,300. If you will be working part-time, opt for tourism-friendly spots such as the Algarve in Portugal or Málaga in Spain. These areas have a high percentage of English speakers from abroad and vibrant communities comprising people from all over the world.
For many students, a Master’s degree or doctorate can be an impossible dream owing to the rising cost of education. Opting for a postgraduate degree abroad is a great way to learn a new language and immerse yourself in a culture while saving on the cost of education. Spain, Italy, and Portugal are just three places you might consider but you can probably build a far longer list of potential destinations.