The value of the Rand makes studies abroad difficult

The ICEF Monitor tell us that:

  • Foreign exchange rates affect how many students will study abroad.
  • America and England are popular destinations for students to go and study, but the weak Rand makes it difficult for South Africans to do this.
  • A lot of other countries have the same problem, for example, students from China and Russia find it very expensive to study when they have to pay in Pounds and Dollars.
  • This has led to some price discounting, particularly in relatively undifferentiated programme categories. 
  • This has also led to students choosing other countries than America and England to study at.

What can you do if you want to study abroad?

  • Speak to a financial advisor to discuss your options.
  • Apply for scholarships and grants at the specific university that you want to go to. The information is usually on their website.
  • Your bank can assist you with a study loan if you qualify for it.
  • You can always work abroad and study while you are there and earning Dollars/Pounds. Remember that you will need a Visa for this.
  • If you know someone you can stay with abroad it will lower your living costs making more money available for studies.
  • It might be worth your while to research exchange student programmes.

Studying is a privilege, wherever you end up studying, make the best of the opportunity.

You might also want to read this article on how to make education more affordable.