How students make studying overseas financially achievable
For many students, the idea of studying overseas can feel financially overwhelming. Flights, accommodation and day‑to‑day living costs can make studying overseas seem out of reach.
However, the experiences of past UTS exchange students show that with early planning, realistic budgeting and mindful spending, exchange is far more affordable than it first appears.
1. Pick your destination wisely
Living in big cities like Paris can be exciting, but the cost of living adds up quickly. Choosing a university a little further out, like Université de Strasbourg in France, just a couple of hours from Paris by train, can offer much more affordable housing options.
It also helps to make the most of scholarships and loans, and even pick your destination based on the funding available.
As David, who went on exchange to Mahidol University in Thailand, shared: “Be realistic. My friends spent $15–20k in just four months in the US or Europe. I chose Asia, where you can live for a year on about $10k and with some research, plus support from UTS and Government programs like the NCP, I was able to turn my exchange dream into a reality.”
Claire, who studied at Hong Kong Polytechnic University, agreed: “All exchange students are provided with accommodation close to campus, and it’s heavily subsidised.”
2. Save early and build a financial buffer
A common theme from returned students is simple but powerful: save early and save more than you think you’ll need. Building a solid financial buffer before you leave Australia means you can say yes to spontaneous trips, social events, and unexpected opportunities – without constant money stress.
As Christopher, who went to San Diego, shared: “Save as much as you can prior to exchange – more than you think you will need – so you can make the most of the experience without worrying about money.”
Isabella, who studied in Spain, added:
“I’d recommend saving as much as possible before you go so you can account for unanticipated expenses. Say yes to experiences, but be smart with everyday spending.”
3. Budget without missing out
Budgeting didn’t limit students’ experiences – it actually gave them confidence and control. Many found that setting a weekly budget and keeping track of expenses helped them prioritise what mattered most, like social events and travel.
As Ruby, who went to Lund University, shared: “Create a weekly budget and do your best to stick to it so you can keep track of your expenses. Unless it’s a social event, try to cook at home.”
Ava, who studied at the University of Copenhagen, put it simply: “Save when you’re on your own so you can spend when it’s fun with others.”
4. Use student discounts and travel smart
Student discounts can go a long way in reducing everyday costs – from transport to attractions and even regional travel. Many students recommended researching concession cards, travel passes and local student networks before arriving, as the savings can add up fast.
Oliver, who studied in Spain, shared: “Get a MAS RENFE JOVEN card if you plan to travel around Spain. It gives you 30% off high‑speed trains and is absolutely worth it.”
Aidan, who went on exchange to Trinity College Dublin, added: “Always ask about student discounts, especially at museums and attractions.”
Booking travel early, travelling with friends and using budget airlines or buses were also common tips for keeping costs down while still exploring everything your host country has to offer.
5. Exchange is an investment in yourself
While exchange takes planning, students consistently said it was absolutely worth the effort. Managing money overseas didn’t hold them back – it actually helped build independence, resilience and financial confidence, all while they experienced academic and cultural growth.
With the right preparation, studying, living and travelling overseas is far more accessible than many students expect, and the personal and professional rewards can be significant.
Sarah, who went to the University of Ljubljana in Slovenia, shared: “I chose to go on exchange to challenge myself – to save money and support myself outside the comfort and routine of home. It’s been a huge period of growth as I live completely independently in a new environment.”
Sophie, who studied at Copenhagen University, said it best:
“Exchange is an experience like no other. Getting to immerse yourself completely in another culture and city is thrilling. You have total freedom – no one knows the ‘Sydney you’, and you get to explore who you truly are.”