I am pretty much already committed to this, but I wanted to ask and see if this is a good idea or not…
I want to travel abroad over January term. I will get three credits for this class/tour. I will, however, need to take out about $5000 in student loans to pay for this trip to cover the costs and tuition. Traveling cheaper is NOT an option, this class/tour is planned and structured and I like it like that.
Is taking out student loans for something like this a good idea? I still have three more years until I graduate. I have not taken out any loans yet, this will be my first. I really want to go on this trip, but part of me thinks I’m crazy to go into debt for something other than straight tuition. The loans will be subsidized Stafford and a Perkins loan. I am also getting a grant, but it’s not that much.
I’m currently studying abroad in China for my final semester. I am kciking myself for not going sooner. Studying abroad is an absolutely vital part of a college education, IMHO.
It’s a great idea, IMHO. I wish I had taken the opportunity to study abroad for a semseter or so when I was in college. There were two opportunities that passed me by: Spain & Vietnam. I never pursued them because of the money factor and I didn’t realize at the time that I could have used student loans. This is my only regret about my college education.
I agree with **Medea’s Child ** that studying abroad is an integral part of one’s college education. Have no regrets, and remember you have the rest of your life to work and make money.
Do it, I got a semester in Ireland and loved it. You said it’s your first loan, does that mean that you may not need other loans? If that’s the case then really go for it. Don’t worry about the money now since they shouldn’t be all that much to pay off when you get out and enjoy yourself. Traveling is one of the best things you can do and doing it while you’re young and not tied down by family is the best.
Don’t forget to have a beer in every country you go to, or wine, but get a taste of all the local stuff. You didn’t tell us where you were going though.
One thing I forgot to mention - I’m not exactly young. I am a 39 (almost 40) year-old non traditional student. I’m not married and not tied down by family, but I still question the financial responsibility of taking out loans to travel. I have been getting my tuition paid for by grants, so this is my first loan. It is a done deal now anyways, as I just found out the $500 deposit I paid already is non-refundable. So I either kiss $500 (borrowed from my SO) goodbye, or take out loans and go. I really do want to go, but I dread the thought of paying for this trip far into the future. It was a situation where the deposits had to be paid before we could register for the class and apply for financial aid, and I honestly thought the study abroad grant would be larger - I never imagined having to borrow so much.
So it looks like I’m going to Ireland for J-term! I’ve been there before, but this tour is much more structured and we’ll get to go up to Northern Ireland where I haven’t been before.
I shouldn’t have assumed you were a traditional student, but does it really make a difference? I can certainly understand why you’re questioning the financial responsibility of borrowing money for travel, but personally I wouldn’t worry about it too much, especially if it’s your first student loan. Plus the interest rates on student loans are really low right now. Seriously, I’d probably have the same thoughts you have right now if I were in your shoes, and like you, I’d go and enjoy the experience!
As Ed The Head said, be sure to try all the beers and have a Smithwicks for us!
You don’t say what your future career plans are, but think of this as an investment in your future. It certainly might help differentiate you from other candidates in the eyes of future employers. In case you want to work abroad later it’s invaluable, both in the sense of showing you can do it and also using this as an opportunity to check if it’s what you really like without a longer term commitment. And it will really broaden your perspective.
When I was on my semester abroad we had at least one non-traditional student, maybe two. I don’t think that will change much. I personally wouldn’t worry about taking out the loans either, just enjoy yourself while you’re there.
How long are you going for and where are you going? When I went it cost a total of one semester’s regular tuition and that included room and board as well as a side trip to Paris. I was there for three months. Hopefully you will be seeing a lot of the country. Also what kind of class are you taking while you’re there? Maybe you’ll get lucky and get to have class in a pub like we used to do. Oh and forget about having a Smithwick’s for Iris, she can get her own.
I’m going Jan 2-19, not a whole semester, just the January break. We’re basically going around the whole island, starting in Dublin and the traveling north to Belfast, Derry, and Donegal. Then down to Galway, then to Dingle and the Ring of Kerry, Cobh and Cork. There are some other towns in there too. The class will concentrate on Irish literature and politics. I know it will be a good time. The cost includes everything except souvenirs and alcohol. I’ve seen many of the places we’re stopping already (Newgrange, Cliffs of Moher, Cobh Heritage museum, Guinness brewery, Dingle peninsula, Blarney), but we’re going a lot of places I’ve never been to.