5 benefits of studying abroad for your college-age child
It can be nerve-wracking to send your child out into the world unaccompanied, but research shows many benefits of studying abroad. Spending an extended period in another country can not only make them more resilient and confident, but it could also set them on an exciting career path.
Why study abroad? Here are five of the top ways studying abroad could benefit your child as they start the next chapter of their life.
- Increased confidence, resilience and independence
When your child arrives in a new country, they’ll have to adapt quickly. Adjusting to a new culture can feel overwhelming as the tasks they take for granted become more challenging, like going to the doctor or ordering food.
However, overcoming those challenges will ultimately help to enhance their self-reliance and resilience. This newfound independence is one of the main benefits of studying abroad.
A survey by the Institute for the International Education of Students explored the long-term impact of studying abroad on a student’s personal, professional and academic life. It found that 97% of those who studied internationally said it helped them feel more mature, 96% reported increased self-confidence and 89% said it helped them to tolerate ambiguity.
- Stronger career prospects
Study abroad better equips your child for a successful career. Research from the British Council found that graduates who study abroad have “strong advantages” in several professional areas, including interpersonal and communication skills, problem-solving, analytical thinking and creativity. These graduates could expect a salary boost of 10% to 20% compared with other candidates.
Similarly, international study organisation Erasmus researched its alumni to understand the impact that studying abroad had on their lives. Results showed that 80% of their graduates found their first job after graduation within three months, which is greater than those who had no abroad study during higher education.
Choosing the right international programme can teach your child the skills that employers seek, such as strong leadership and team management skills, strong communication, flexibility and cross-cultural awareness. Navigating a new home involves logical planning and critical thinking, which are essential in the modern workplace.
- Cheaper tuition or cost of living
Why do people study abroad? Finances are a big factor. It’s likely you’ll need to give some financial support, no matter where your child settles for university. However, you can make the cost easier for everyone to bear. One of the less-cited benefits of studying abroad is taking advantage of cheaper tuition and costs of living.
Many parts of continental Europe, Asia and Latin America are home to universities with low tuition fees – or none at all. The lower price of basic goods in other countries can also make it easier to handle the cost of living away from home for the first time.
Of course, if there still needs to be a direct line to the Bank of Mum and Dad, solutions like the Western Union® app can get money to a student abroad quickly and reliably, easing money concerns for everyone.
- A larger, more diverse personal network
Also essential in modern business is a global network. Studying abroad won’t just help your child build personal relationships with people from all over the world, it will also introduce them to future colleagues, employers, or business partners.
The Erasmus report found that 75% of alumni who had studied abroad were planning to set up their own company in the future, and 10% already had. By studying abroad, your child will meet ambitious, entrepreneurial, and curious people with big plans and networks.
- An overall broader worldview
In addition to the academic benefits of studying abroad, your child will gain a broad worldview to take with them throughout life. It goes without saying that the benefits of study abroad largely centre around experiencing new cultures. Studying abroad can open your child’s mind to new perspectives and lifestyles in a way that they wouldn’t get from a one-week vacation.
Living and studying in a new country will open your child’s eyes to how others live. They will become more tolerant of differences and develop an openness and curiosity about new challenges.
Global leaders know the importance of seeing the world and developing an understanding of cultures and backgrounds other than your own — undergraduate and postgraduate studying abroad can help your child gain the skills needed to be a leader for tomorrow’s world.
Support your child while they study abroad
If your child has been won over by the benefits of studying abroad, don’t worry – you can still support them in their studies, even when they’re far away.
With Western Union, you can send money to loved ones studying abroad quickly and easily. Send transfers in the most convenient way for you, whether it’s online, using our money transfer app, or in-store at an agent location near you. Keep tabs on your money and track your transfer using your unique 10-digit MTCN, so you’ll know when your child has received the money.
You can even save their details so next time, you can send money even faster. This is ideal if you send regular payments to your child while they study abroad.
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