Study Abroad and Domestic Economics

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Study abroad programs have traditionally served as an international experience for students to study a foreign language, immerse oneself in a different culture, meet new friends and gain knowledge through embracing new ways of thinking and new ideas. Study abroad programs have always been credited with increasing one's employment opportunities and giving job seekers with international experience an advantage over other candidates.

Economic globalization, international commerce and the highest unemployment rates in history have forced an increasing number of businesses and individuals to pursue international opportunities in an effort to maintain financial vigor. These same economic changes have deterred students from studying abroad, both in the United States (US) and internationally.

US based colleges and universities report more than a 60% decline in international enrollments since numbers peaked from 2006 to 2008. International institutions of higher education report a significant drop in enrollments during the 2009-2010 academic year. Unfortunately, this response is not favorable and undoubtedly the outcomes will produce an increasing number of college graduates that lack international experience. As businesses are forced to expand into the foreign marketplace, colleges are graduating students with limited to non-existent international experience and international companies are aggressively marketing to the US population. This economic cycle is highly unfavorable and demands intervention and action.

Students interested in pursuing a study abroad program to enrich their education and gain international experience are encouraged not to postpone their aspirations without due consideration.

Study abroad programs vary greatly in their design. In general we assume that international travel is very expensive, in some cases, not safe and typically not a viable opportunity for college students who are already on a limited budget and are burdened by the rising costs of college tuition. During times of financial stress, study abroad programs and international travel are disregarded due to the excessive and unnecessary costs that are incurred. As a result of these assumptions students and parents are more likely to settle for a regional or state college/ university that is known for its quality educational programs, lower costs as compared to international expenses, and the value of increased safety due to their familiarity with US social conditions.

It is easy to make excuses, especially when those excuses are strongly impacted by financial conditions. However, let’s say we can beat the odds by participating in an international study abroad program for under $6000. In fact, many students can do it for less. There are several study abroad scholarship programs for disadvantaged students and students studying in a specific area. Language study scholarships are available at universities and some programs are available for individuals who are not participating in university programs. Paid internships are available from numerous industries and public agencies that are invested in promoting the global economy.

Study abroad programs are highly flexible in nature and due to the decline in enrollment are offering alternative study programs. In fact many study abroad programs offer students limited stay options for as little as one to two weeks. It is becoming increasingly popular for students to be placed with host families.

Universities, government organizations and industries understand the value of globalization and foreign education and the impact it has on the economy in the US. Their continued support for foreign relations and first-hand international experience has helped to sustain study abroad programs and make it possible for students to participate so that they may learn and grow in order to make a valued contribution in the international marketplace. Many opportunities are available if you don’t let you assumptions falsely misguide your judgments.



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