What Should You Consider When Creating Your Study Abroad Budget?

November 29, 2020

In many ways, studying abroad in Italy may sound like an extravagant and costly experience. Although it does come with expenses, studying abroad in Rome at John Cabot University is a more affordable experience than you might think!  And with the proper budget and planning, there’s a lot that you can do to make your dream of studying in Rome come true.

Before All Else, Consider Your Tuition and Other Educational Expenses

The very first thing to consider if you want to study in Italy is how much tuition and other school fees will cost. At John Cabot University, students pay fees for tuition, a permit to stay (for non-EU students), a meal plan, and health insurance. This might sound daunting, but there’s a lot that you can do to make your fees more affordable. 

For American and Canadian students, the cost of tuition and fees for a full academic year total up to $26,700 USD ($12,450 USD per semester for tuition for 10-17 credit hours); for students of all other nationalities paying in Euros, this total is €19,086 (€9,000 per semester). This is about equivalent to the cost of studying at a public out-of-state college. Except that, of course, you’ll be studying at a private university in a different country! A generous financial aid program can also go a long way towards helping you cover these costs.

Consider Your Non-Academic Expenses While You Study in Italy

If you have your heart set on studying in Rome, you’ll be happy to know that the cost of living is relatively affordable, especially when compared to many other top destinations. On average, a centrally-located, one-bedroom apartment in Rome will cost about €959 ($1,128 USD) per month. Compare it to the cost of a one-bedroom apartment in other major international cities, such as Boston ($2,155), New York ($3,350), San Francisco ($3,430), London ($2,274), or Paris ($1,428).

Fortunately, you don’t have to search for your own apartment in Rome if you don’t want to. If you choose to live in one of JCU’s residences —the Gianicolo Residence or Lungara Apartments—you’ll be able to save on your expenses. Staying in one of our shared apartments will cost you €3,400 ($3,900 USD) per semester, which breaks down to about €850 ($975 USD) per month over the course of a four-month semester.

Ways to Save Money and Keep Your Budget in Check 

Of course, part of the experience of living in Rome means enjoying delicious meals at local restaurants, savoring an espresso at a local café, visiting breathtaking sites, soaking up the exhibits at local museums, and much more. These expenses can add up quickly, so they're worth considering when planning out your budget. For example, if you are wary of how much money you're spending on eating out at restaurants, try cooking your own meals at home using fresh ingredients purchased at a nearby farmer’s market. You can also eat at JCU’s Tiber Café, where meal plans per semester are as affordable as €160 ($195 USD) for a package of 20 meals; this breaks down to about €8 ($9.75 USD) per meal.

There are other ways that you can save money while enjoying your study abroad experience. For example, if you're concerned about cell phone fees, you can use an app like WhatsApp, which allows you to text and call for free. You can also save money by having a bank account with a company that does not charge fees for foreign transactions and limiting your use of ATMs to avoid racking up international withdrawal fees. With these tips in mind, you’ll be able to save on unnecessary expenses, giving you the chance to save your money for something else, like a nice dinner at a local restaurant.  

Do you want to study abroad in Rome? Contact John Cabot University's Admissions Office at admissions@johncabot.edu today for more info!

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