If you’re considering studying abroad for a portion or the entirety of your post-secondary education, you’re not alone. With the world becoming more interconnected, many students are choosing to spend time abroad in order to gain a more comprehensive education- not to mention that it’s fun!
Luckily with the Global Educational Trust Plan (GETP), beneficiaries will be able to use their RESP towards any education-related expenses at any recognized post-secondary institution across the globe.
Before you pack your bags, here are a few things to consider.
- Livability – there are many factors that create an ideal student experience, including affordability, quality of living and accessible public transit, etc. For those reasons, it goes without saying that you’ll likely have a better experience in a metropolitan city. Go to http://www.topuniversities.com/city-rankings/2015#sorting=rank+custom=rank+order=desc+search for a more comprehensive list of the best student cities around the world.
- Costs – as a full-time international student, you will be subject to international student tuition fees and many additional costs that your local peers will not have. According to HSBC’s 2014 report on costs of studying abroad, the top 3 most-expensive countries to study aboard are Australia, Singapore, and the ever-popular US- all options that will put tuition at 5 figures per year.
- Credit transfers – many post-secondary institutions have an established international exchange program, whereby the credits that you gain abroad can be added to the pool of credits needed for graduation. If your post-secondary school does not have a program, it is always best to check with student services first to ensure that you will be able to transfer your credits.
- Visas and other related travel documents – many countries allow Canadian nationals to stay for several months without any tourist or student visas, but it’s something to pay extra attention to if you’re considering a longer stay or require a work permit.
- Language barrier – if you do not speak the local language, the language barrier is something that may add frustration to your experience abroad. But it’s also the best opportunity to learn a new language!
- Professional development – if you’re considering graduate school, admissions boards look very fondly upon candidates with study-abroad experience, because it shows that they welcome new challenges and are able to embrace change. This is also a great opportunity to build a professional network internationally, and the acquaintances you make may prove valuable down the road when you’re job-searching.
- Personal development – studying abroad will add to your confidence, independence, and open your mind up to new ideas, but not without an adjustment period. At times you will feel lonely and homesick, but if you stick it out, you’ll be able to meet like-minded individuals and make friends of a lifetime!
About Global RESP Corporation
Global RESP Corporation (GRESP) is one of the recognized Scholarship Plan Dealers and providers of Registered Education Savings Plans (RESPs) in Canada since 1998. GRESP is the primary distributor of the Global Educational Trust Plan (GETP), offered by Full Prospectus through registered Dealing Representatives across Canada. Our Dealing Representatives embody decades of RESP experience and aim to provide clients with quality and trusted services, while helping families save for their child’s future education. As of March 31, 2015, the GETP has over $1 billion* in pledged contributions by family members, over $620 million* securely invested in a professionally managed portfolio and has made over $225 million* available for post-secondary education funding to Canadian students studying in 46 countries*. For further information, contact email@example.com or visit www.GlobalRESP.com.
*Source: Global Educational Trust Foundation