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  The Daily Collegian Online	 - Published independently by students at Penn State NEWS
[ Friday, Dec. 8, 2006 ]

Weak dollar makes study abroad pricier

For The Collegian

Students studying abroad in the spring will be facing higher costs than last year because of Penn State's tuition hike and the weakness of the U.S. dollar, Penn State's director of education abroad said.

Study abroad costs are calculated by adding together the cost of a semester at Penn State with special study abroad costs such as program and administrative fees, John Keller, director of education abroad, said.

While those costs depend on how much Penn State charges, studying abroad also includes other expenditures, such as airfare, travel and personal expenses, which are mostly affected by the strength of the dollar against foreign currency.

Keller said because program costs have remained steady, the exchange rate is the primary reason for the increased costs.

He added that most students studying abroad attend programs in Western Europe, specifically Spain and Italy, which uses the Euro as its currency.

Last December, the exchange rate was 0.85 Euros for every one U.S. dollar. This December, only 0.75 Euros are worth one U.S. dollar. This means 100 U.S. dollars are now worth 75 Euros, a 12 percent drop from last year.

In addition to the dropping value of the dollar, tuition has contributed to the rising cost of studying abroad. Tuition for juniors and seniors has increased 14 percent, from an average of $5,916 to $6,827 for in-state students, and 9 percent, from an average of $11,094 to $12,211, for out-of-state students.

Now students such as Brittanie Phillips (junior-finance) have more cost-conscious decisions to make when considering study abroad opportunities.

Phillips will be studying in Barcelona, Spain, in the spring and is looking forward to living in another country and perfecting her Spanish, she said.

"I'm from Florida originally, so I am lost when I go home," Phillips said, referring to the large Spanish-speaking population.

For Phillips, the rising cost of studying abroad was not enough to keep her in State College next semester.

PHOTO: fff

"Cost was definitely a concern when I was looking for programs," she said, "but there are a lot of scholarships out there that people don't know about."

According to the Penn State Education Abroad Web site, the estimated cost for Phillips' program is roughly $18,965 plus airfare.

While abroad, Phillips will be taking a mix of business classes for her major as well as cultural classes to learn more about Spain and the language.

Although study abroad costs have increased for students traveling to more popular destinations, those studying in other locations have been less affected by a weak U.S. dollar. One of these students is Ryan Curtin, who will be spending his spring semester studying in South Africa at the University of Cape Town.

"I want to go surfing there, and I had an interest to do this for a long time," he said. "It's kind of different from what other people do."

For Curtin, studying abroad was an opportunity to travel less expensively than he could on his own.

"Cost was not a big consideration for me," he said. "The exchange rate is pretty good."

The exchange rate in South Africa is 7 Rand for every U.S. dollar.

One student who does not mind the higher cost of studying abroad is Shari Phillip (junior-political science). Next semester, Phillip will also study at the University of Cape Town, where she is taking classes applicable to her major.

"When deciding to study abroad, cost wasn't an issue because it was an experience I wanted to have," she said.

For Phillip, studying abroad will actually save her money. She currently pays out-of-state tuition, but by taking part in her study abroad program she only has to pay in-state tuition, a savings of more than $5,000.


 

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Updated: Friday, December 08, 2006  1:08:20 AM  -4
Requested: Friday, September 05, 2008  3:11:40 AM  -4
Created: Wednesday, May 07, 2008  6:59:00 PM  -4