With Value of Dollar Falling, College Study-Abroad Costs Rising

PHOENIX, AZ, Jan 02 (MARKET WIRE) --
As the value of the dollar continues to fall and study-abroad costs continue
to rise, undergraduate and graduate students who want to spend a semester
overseas
may be able to make their international studies more affordable simply by
rethinking their destination. To help students keep study-abroad costs
financially feasible and minimize their need for student loans, NextStudent, a
leadingPhoenix-based education funding company, encourages applicants to
consider
lower-cost destinations for their study-abroad experience.

In the last year alone, the U.S. dollar has fallen 5 percent against the
pound, 7 percent against the yen, 10 percent against the euro and 14 percent
against the Canadian dollar -- which means U.S. students studying overseas are
finding that their dollar-based budget buys a lot less than it used to.

Even amid efforts to encourage more students to take a semester or year
abroad, the decline in the dollar's value has led some schools to cut back on
study-abroad program offerings and raise program charges to students, reports
The
Chronicle of Higher Education ("Study-Abroad Officials Feel the Pain of
Dollar's Plunge," Dec. 14, 2007). Study-abroad costs are up 10 to 15 percent
over the last several years, and schools are concerned that low-income
students, especially, may be financially deterred from going overseas.

One of the sharpest declines in the dollar's value has come against the euro
in Europe, which, according to the Institute of International Education, is the
chosen
destination for almost 60 percent of all U.S. students who study abroad.
According to the IIE, the top five study-abroad destinations are Britain, Italy,
Spain, France and Australia.

But students may be able to find a more affordable study-abroad program by
opting for a less mainstream location in Central or South America, Asia,
orAfrica, where currency exchange rates are more favorable and the dollar
stretches further than it does at the top five destinations. Many students are
already taking advantage of these lower-cost destinations. As the Chronicle
reports, the number of students enrolling in the Cultural Experiences Abroad
program in Buenos Aires this semester is up 52 percent over a year ago, and the
number of students enrolling in the CEA program in Prague (which hasn't yet
converted over to the euro) is up 150 percent.

For parents, undergraduates, and graduate students looking for help with
financing a study abroad program, NextStudent offers a variety of parent and
student loans, as well as the award-winning NextStudent Scholarship Search
Engine, where students can look for scholarships and grants available
specifically for foreign study programs.

Students can usually apply their federal financial aid to school-approved
study-abroad
programs -- they should check with their school financial aid office. But if
students find that, even after scholarships, federal student loans and grants,
their study abroad costs still exceed their available financial aid, NextStudent
PrivateStudent Loans could provide the additional financial assistance they
need.
Federal student loans generally offer more attractive terms than private
student loans, so study-abroad students and their parents should always look
into their federal financing options first.

About NextStudent

NextStudent, Federal Lender Code 834051, is dedicated to helping students
and
their families find affordable ways to pay for college. NextStudent offers
one-on-one
education finance counseling and has a portfolio of highly competitive
education finance products and services, including a free online
scholarship search engine, federally guaranteed parent and student loans,
private student loans, both federal and private student loan consolidation
programs, and college savings plans.

For more information about NextStudent and its student loan programs, please
visit
our website at www.nextstudent.com.

Contact:
Jessica Black
Email Contact

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