Given the United States’ goal to increase participation in college study abroad programs, this is not a good time for the dollar to be losing value to the euro. Colleges and universities are now attempting to find ways to make studying abroad affordable for students from all backgrounds, while facing less-than-stellar currency exchange rates.

Brian J. Whalen, president of the Forum on Education Abroad, told the Chronicle of Higher Education that study abroad costs have risen 10 to 15 percent in the past few years, due to the declining dollar.

According to the Institute of International Education, Europe attracts 58 percent of American study abroad students. However, schools are beginning to adopt study abroad programs with untraditional destinations like countries in Asia and Africa, instead of the ever-popular European countries. Since Western Europe converted to the euro, even more popular destinations have become too expensive for some students.

To make study abroad affordable in a world in which the dollar is weak, schools have been cutting back on certain activities and side trips usually associated with their study abroad programs. They have also been using reserve funds to keep study abroad fees down, diverting some of their cash flow.

As the dollar flounders, students are expected to favor the less expensive, shorter study abroad programs that are available. They will also likely continue to study in countries that have not been the most popular destinations in the past.

–Sara Elizabeth

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