The experience outweighs the cost. At least that’s Andrew Goldberg’s philosophy as he prepares to study abroad for a semester at the American University of Rome.
Students studying abroad have been reaching deeper into their bank accounts in recent years, as exchange rates between the United States’ dollar, the euro and the British Pound Sterling drive program prices higher.
Goldberg, a public administration and public policy junior, said he’s aware the dollar is weaker than it used to be, but won’t let it affect his spending too much. Plans for weekend jaunts to France, Spain and all the places he’ll likely never go to again, are already in the works.
“I’m not going to let (the cost) stop me from going and seeing the places I want to see,” Goldberg said.
In response to the declining value of the dollar, the Office of Study Abroad has been looking at ways to cut costs and make international study more affordable for students.
Kathleen Fairfax, director of the Office of Study Abroad, said the office will learn more about exchange rates and program costs in the next six months to a year.
“We’re not going to take any drastic measures now, other than thinking about how to restructure some programs in order to minimize costs, especially the costs we pay in foreign currency,” she said.
Fairfax said the office is working with faculty leaders of the programs to reduce costs in areas such as meal plans and housing options.
MSU has the most study abroad programs in the United Kingdom. Exchange rates make the region one of the most costly. The pound is worth almost double the dollar, and the euro is worth almost one and a half of the dollar.
“We’re trying to figure out what is the least expensive way of meeting the objectives of the course without compromising the quality of academic objectives,” said Leonard Fleck, a professor of philosophy and medical ethics and faculty leader of the Medical Ethics and the History of Health Care study abroad program in London.
Since 2004, the program’s fees, which include accommodations and academic costs, have increased from $2,508 to $4,560. Students are responsible for MSU tuition and fees, airfare, meals, books and supplies and spending money.
Fleck said some costs, like guest speakers and clinical experiences, are unavoidable without diminishing the experience.
Sarah Revers, a communication senior, said her parents helped her set a budget before she left for her Mass Media in the United Kingdom study abroad program last summer.
“For the first couple weeks, I really paid attention to prices,” Revers said. “But after a while, I tried not to think about the money as much, otherwise it puts a damper on things.”
Fairfax said the office hopes to secure more scholarship funds.
“We always try, but now it’s even more important because I think the financial squeeze on students happens at a lower and lower level of income for families,” she said.
Other possible options to help students include examining the program lengths and limiting the amount of time that housing and other on-site costs are needed, she said.
Alyssa Hoyer, a hospitality business sophomore who will study abroad in Rome this semester, said she worked three jobs during the summer to help finance her trip.
“It’s going to be such a great experience, I’m not going to think about the money part of it,” she said.
Despite rising costs, Fairfax said interest in study abroad programs does not appear to have been affected.
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During the 2006-07 academic year, 2,801 MSU students studied abroad.
Applicants for summer 2008 programs at MSU totaled 1,390 in mid-December, compared to 1,230 applicants at the same time in 2006.
“We’re still seeing a lot of enthusiasm,” Fairfax said. “Where we’ll see the rub will be when it becomes a little more definite, when students are accepted into the program and have to send a deposit.”
