Is a Foreign Degree Worth It? (In-Depth Guide)

Obtaining a degree from an international university can be an exciting prospect for students looking to gain a global perspective and stand out in the job market.

However, the decision to study abroad also comes with major financial, personal, and career considerations.

Financial Costs – The Expense of Studying Abroad

The financial commitment involved in getting an international degree should not be underestimated.

Between higher tuition fees for international students, travel, living expenses, visa and immigration paperwork, and more – the costs add up quickly.Some key monetary considerations include:

Tuition and Fees

Tuition and fees at foreign universities, especially in popular destinations like the US, UK, Australia and Canada, are almost always substantially higher for international students compared to domestic students.

For example, international students in the US can expect to pay anywhere from $15,000 to $50,000 per year in tuition alone for undergraduate degrees, and $20,000 to over $60,000 per year for graduate degrees.

Compare this to in-state tuition fees for US residents, which average around $10,000 per year for undergrad degrees and $13,000 per year for graduate programs at public colleges and universities.

Living Expenses and Other Costs

In addition to the direct university expenses:

Cost of living can be high in countries like Australia, Singapore, UK and USA, especially in major student cities.

International students should budget $15,000 to $25,000 per year towards room/board, transport, supplies, healthcare and other living expenses.
Immigration fees such as student visa charges and health checks can cost $500 or more.
Airfare and transport for international trips between home country and university also needs accounting for.
Health insurance is mandatory for international students in most countries, averaging around $1,500 per year for basic coverage.

The total annual cost for an international student can easily cross $40,000 – $70,000 per year, compared to a fraction of this for regional degrees in Asia.

Scholarships and education loans may offset some expenses, but a large personal contribution is still required in most cases.

Career Prospects – How International Degrees Are Valued

The potential returns on investment from an international degree depend largely on:

1. Career Prospects in the Country of Study

Opportunities to build professional connections and work in countries like USA, Canada, Australia, Germany and Singapore after graduating are a major incentive for international students.However, work visa restrictions are tightening in many desired destinations:

The US H1B visa program is becoming more competitive, with only a 20-30% chance of securing a work permit.

Student visas already limit off-campus work to 20 hours per week.
Canada and Australia offer 1-3 year post-study work permits, but permanent residency is not guaranteed.
EU countries have flexible work schemes, but language barriers need considering.

Without long-term work authorizations, the true value of foreign degrees diminishes if returning home is the only option.

2. Job Prospects in the Home Country

Here, student motivations split mainly two ways:

A. Boost Employability in Local Job Market

International degrees are often prestigious in Asia, seen as indicative of good English proficiency, educational quality and global outlook by employers.

In fact, surveys across India, China, Vietnam, Thailand, Singapore, Malaysia and Hong Kong consistently rank graduates with overseas degrees as commanding higher starting salaries and faster career trajectories.

Salaries for internationally educated candidates were higher by 15-25% on average compared to local degree holders in these countries according to LinkedIn data.

However, there are some caveats:

Beyond established institutes, foreign school brand recognition in local job markets can be low. Focus on reputed universities.
Certain degrees like MBAs have less value internationally unless from top-ranked schools.
Salary premiums are dependent on recognised degrees fitting industry standards. For example, engineering roles may require accredited qualifications.
As local education standards improve, overseas premiums are equalising – especially in more developed Asia Pacific countries.

B. Gain Specialist Knowledge Unavailable Locally

International exposure allows access to niche, cutting-edge programs not yet available regionally – like AI, genomics, nanotech etc.

Graduating with in-demand, technical expertise gives a career edge in fields where local talent is scarce.

Quality of Education & Learning – What You Can Expect

Beyond costs and employability, a life-defining decision like studying abroad also requires evaluating if the overall student experience meets your expectations and learning requirements.Key aspects to analyse:

University Rankings & Accreditation

Globally recognised colleges certainly provide enhanced academic and professional opportunities. However, be aware of:

Rankings focus more on research than teaching quality, which varies across departments and programs.
Understanding accreditation bodies and processes is vital, especially for fields like engineering, medicine etc. Depends on home country requirements too.
League tables are subjective and change yearly. Check multiple ranking sources like QS, Times Higher Education for consistency.
Newer institutions can offer innovative programs, but may lack prestige. Weigh up balances.

Pedagogy & Learning Models

Western education is often seen as more flexible and interactive, encouraging creativity over rote learning.

Analyse module structures closely for:

Assessment methodology: Projects, presentations, practicals or exams?
Teaching quality: Student-faculty ratio? TA dependence?
Access to facilities & resources: Libraries, labs, collaborations?
Technology integration: LMS portals, digital tools, online options.
Support systems: Careers guidance, academic assistance, mentoring availability & efficacy.

Global Outlook & Perspectives

Studying on international campuses allows developing a multicultural skillset and outlook prized by employers. Evaluate opportunities for:

Interacting with global peers: Group work frequency? Clubs/societies? Meetups/networking?
Foreign language acquisition: Built into programs? Additional options?
Exchange programs: Short/long-term partnerships with overseas unis?
Study tours: Faculty-led academic travel opportunities.
Internships: University-backed programs abroad?

Fit With Individual Preferences

Ultimately, personal factors will also govern the experience:

Academic fit: Program structure aligned with your learning style?
Lifestyle abroad: Comfortable adjusting to a foreign environment?
Financial limitations: Scholarships/loans required? Significant self-funding expected?
Career goals: Will the degree help achieve your professional targets?

Every individual needs to weigh up the pros and cons differently based on their own circumstances and priorities.

Making the Decision – Key Steps to Take

Determining if crossing borders for higher education makes sense needs meticulous research and self-reflection:

1. Be Realistic About Costs Involved

Create a detailed budget covering the entire program duration accounting for:

Tuition & uni fees
Immigration paperwork
Accommodation & living expenses
Travel & commute costs
Books, supplies, devices etc.
Health insurance premiums
Emergency funds & miscellaneous

Determine funding options – self/family/loans/scholarships. Have contingencies for unexpected shortfalls.

2. Check University Rankings & Accreditation

Research alternative options on established rankings (QS/THE) for your preferred subject, shortlisting choices meeting criteria like:

Overall reputation & legacy
Department-specific rankings & expertise
Faculty student ratio
Research output
Grad employability rates
Industry ties

Verify program/institute accreditation status for recognition.

3. Evaluate Post-Study Work Avenues

Understand visa pathways, schemes and processes to access work rights post-study by country:

UK: 2 years to find work under the Graduate Immigration Route.
Canada: Up to 3 years through Post Graduation Work Permit Programs.
Australia: 1-4 years depending on qualification level completed.
USA: STEM degrees get up to 3 years of OPT, but H1B lottery system is unpredictable.

Also research scholarships with mandatory return clauses.

4. Weigh Up Job Prospects Back Home

Talk to seniors who returned home post-study abroad for recent experiences with local recruiters.

Check LinkedIn to connect with alumni of shortlisted unis and understand where they work now.

Look for those employed with major national companies.

Approach HR managers at target employers as well to get perspectives on international applicant prospects.

5. Compare Program Structures & Specialisations

Look beyond the marketing messaging to compare core module offerings.

Analyse structures, assessments, teaching methodology, technology integration.

What specialisations or electives are on offer? Unique selling points?

Connect with current students for authentic experiences.

6. Determine Lifestyle Abroad

Evaluate if you can adjust to an unfamiliar environment abroad via:

Research using vlogs/videos/forums about housing, transport, culture.
Seek perspectives from friends/family who have studied there.
Check out regional cuisine, clothing, weather etc.
Arrange short exchange programs first to experience stays if possible.

7. Have Clear Career Goals

Outline how the degree will further your career aspirations in actionable terms:

Target employers & locations
Expected roles & growth trajectory
Skills to acquire
Professional networks to access

Use this roadmap to guide university selection and focus areas of study.

Key Takeaways – Deciding If It’s Worth It

While complex, some key questions to honestly ask are:

Is there a clear ROI – Return on Investment?

Will the long-term career prospects and earning potential justify the higher financial inputs?

Does it meet home country job requirements?

Are chosen programs accredited? Recognised by target recruiters?

Are work rights post-study accessible?

What are realistic visa prospects after graduating in country of study?

Does the degree provide unique learning opportunities?

Access to specialised knowledge, cutting-edge research and facilities?

Are programs aligned with your academic interests & style?

Do curriculums and teaching methodologies match your personal preferences?

Can you adapt to living abroad?

Be realistic about your ability to navigate an unfamiliar environment.If you can answer YES to most of these questions through methodical research – an international degree may well deliver outstanding professional and personal growth opportunities that justify investing in.