MONEY MATTERS!
The desire to study abroad from the high school years is increasingly common among families, but do you know what annual budget is needed to support your child at a private school abroad?
Anyone can check the fees published by each school, but is that enough? I don’t think so. There are many other costs you might initially overlook, only to be unpleasantly surprised later.
Because I believe budgeting is as important as choosing the right study programme and school type, I will outline the most common expenses to consider.
Money matters, especially when planning a study budget!
HOW TO CALCULATE YOUR BUDGET if you want to enrol your child in a private school abroad
Nu vei găsi o cifră magică la finalul acestui articol, însă vei afla cum să îți faci bugetul în vederea înscrierii copilului la o școală privată din străinătate.
Let’s begin our financial journey with four key steps directly linked to your bank account: visiting schools, the admission process, accepting the offer și the duration of studies.
VISITING SCHOOLS
Whether you visit schools before starting the admission process or after receiving offers, school visits are very important if you want to make an informed decision. Airfares, hotel bookings, meals, and transport are basic elements, but you may also want to explore the area or do some shopping. It’s up to you whether to increase your school visit budget or not.
Factors affecting the school visit budget include:
- Destination country;
- Number of schools you wish to visit;
- Locations of schools and distances between them;
- Number of days required to visit schools;
- Dates chosen, which may coincide with peak travel periods;
- Number of family members visiting;
- Type of transport: public transport, taxi or car rental;
- Preferred hotel and restaurant category;
- Currency exchange rate, if applicable;
- Visa costs, if necessary;
Other personal preferences and costs.
THE ADMISSION PROCESS
If you are working with an agency such as Your Education Shape, offering free consultancy services for admission to partner institutions, you should consider the following:
- Document translation: transcripts, reports and assessment certificates (if required);
- Registration/application fees for each school (non-refundable);
- Courier fees, if the school requires original application forms and admission tests;
- Fees for additional admission tests, if required (UKiset, ISEB or similar);
- Language certification exam fees, if required (IELTS, TOEFL, Cambridge);
- An administrative fee, if admission tests are taken at British Council centres;
Additional fees for optional services offered by your educational consultant, which are not included in the free package.
ACCEPTING THE OFFER
Once admission tests and interviews are successfully completed, schools send offer letters. Offers are generally valid for one or two weeks.
Acceptance is done by completing the acceptance forms and paying the acceptance deposit. The deposit may be one thousand, several thousand, or the tuition fee for a term. Your place is guaranteed once the forms and deposit are sent to the school.
Most schools refund the acceptance deposit, without interest, after the student finishes their studies. Check the terms and conditions to see whether the deposit is refundable, partially refundable, or non-refundable.
DURATION OF STUDIES
Once your child’s place is secured, you will need to cover the annual fees. Below is a list of the most common expenses for students enrolled in schools in Europe and North America. Note that this is an extensive list; some items may not apply to your situation.
Common expenses for students in private schools in Europe and North America include:
- Guardian/tutoring services, if required, can cost several thousand per year. Fees and deposits vary by agency and country;
- Notary services, if certain documents must be certified;
- Visa applications and residence permit fees, if applicable;
- Air tickets (buying in advance can save money). Follow the school’s recommended travel dates; add Unaccompanied Minor (UM) service if needed;
- Transport from the airport to school and back. Some schools assist with this, others do not;
- Health insurance, which may be optional or compulsory, costing from several hundred to several thousand;
- Medical care and medication, if required;
- Tuition fee refund insurance, if certain conditions are met. Some schools offer this and costs can reach up to three thousand;
- School uniform, costing from several hundred to one thousand;
- Ski equipment and ski pass, if required;
- IT package (laptop, applications) may reach up to three thousand if the school has specific requirements;
- Textbooks, if not included in tuition, may cost a few hundred per year;
- New student registration fee, required by some schools, costing a few thousand;
- Development deposit (investment fee), required by some schools, may reach several thousand;
- Annual tuition and boarding fees, payable in one, two, or three instalments. Check the school’s payment plan and inclusions;
- Membership or affiliation fees, if applicable, ranging from a few dozen to two thousand;
- Cleaning and laundry fees, if not included in tuition, may cost one or two thousand per year;
- Meals, if the boarding plan does not include full board, may reach four or five thousand per year;
- Special supplies for art and photography, if required;
- Musical instrument rental;
- Music, golf, horse riding, tennis, aviation, or other specialised lessons;
- Learning support, if needed;
- Revision courses before major exams (GCSE, A-Level), if required;
- English as an Additional Language lessons, if necessary and not included in tuition, may cost several thousand per year;
- Public exam fees (GCSE, IGCSE, A-Level, IB) are generally not included;
- School trips and tours. Most are optional, but budgeting for them is recommended;
- Parent-teacher meetings will incur additional costs (air tickets, transport, hotels, restaurants, etc.);
- School photographs and albums;
- Pocket money;
- Graduation ceremony;
Other personal expenses.
Now you know how to prepare your budget. If you have questions about the admission process or other matters related to studying abroad, contact us.
