Americans Eye European Colleges To Save Money On Tuition

An anonymous reader quotes a report from Bloomberg: Surging US tuition costs have more American parents sending their children to college in Europe as they look to save money on higher education. What once was a niche opportunity for wealthy families looking to add some flair to their kids' resumes is now becoming increasingly common as tuition and fees climb in the US, stretching budgets that are already getting hit by inflation and rising housing costs. In France, the number of American students surged 50% in the 2021-22 school year compared to the previous year; there was a 16% gain in the Netherlands, while the UK saw a 28% surge in applicants this year compared to 2020. Google searches for 'College in Europe' hit a three-year high in August and have remained elevated as college application season ramps up.

Living abroad comes with its own expenses and hassles, but parents have many reasons for sending their kids to school overseas. Some mention the less stressful application process, access to different cultures and the ability to travel. But money is perhaps the biggest factor. The average cost for college tuition has more doubled in the past two decades, hitting $35,551 in 2022, according to the Education Data Initiative. Top schools, including in the Ivy League, charge far more. While President Joe Biden's loan forgiveness program will offer graduates some reprieve, crippling student debt is fueling a backlash against the prices of higher education. Tuition for international students in Europe, meanwhile, is free at most German universities, costs $2,778 a year in France and as much as 15,000 euros in the Netherlands. In the UK, an undergraduate will pay about $40,516 a year to study English at Oxford, while the University of St Andrews runs more than 26,000 pounds. But students in Europe typically get their degrees in three years, not four. 'Besides the less stressful application process, Americans' chances abroad are also a lot better,' adds Bloomberg. 'While top US schools like Harvard and Stanford have acceptance rates in the low single digits, about 14% of students get into Oxford and 41% get into the University of Saint Andrews, two of the most popular options for Americans.'

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