If you or your child is considering studying abroad, this article is for you. We dive into the the pros, cons, and processes involved when applying to an international institution to help you make a more informed decision.
As excellent as many of South Africa’s universities and institutions are, there is a certain allure to obtaining an international degree. However, the process may seem daunting, and the pros and cons of such a large investment must be clearly understood. In this article, we cover all that and more. While we focus on popular Anglophone destinations such as the UK and the US, we also touch on other global destinations.
Let’s start with the obvious question: considering the huge financial investment, is it really worth obtaining an international degree? Like many issues surrounding money, the answer is highly subjective. South Africa has many world class institutions, with our top performers such as UCT, Wits and Stellenbosch placing in the top 500 universities in the world, according to several global rankings. This means that it’s not absolutely necessary to apply internationally for good quality education. However, for many potential students, the opportunity to study abroad is about gaining additional benefits and life experience. These include: the opportunity to travel, discover different cultures, learn a new language, become more independent, make new friends, network and grow career advantages, and personal development.
Scientific research also supports the idea that travel and life experiences boost psychological well-being and happiness. This means that above and beyond the immediate academic experience, the holistic experience of studying abroad may bring long term advantages to one’s career and personal life.
This could explain why, according to the ICEF Monitor, a dedicated market intelligence resource for the international education industry, there are about 12 000 South African students currently pursuing high education abroad (as of 2023). Research shows that this trend is also ticking upwards.
While South African institutions rank in the top 500 universities of the world, some students may have their hearts set on even more prestigious universities. In a highly competitive world, having the brand recognition of an internationally known institution behind your name could also be a significant advantage.
So, which institutions should one consider? In the US, the Ivy League institutions are considered the most prestigious in terms of academic excellence, selective admission and social elitism. The league is comprised of eight private research universities: Brown University; Columbia University; Cornell University; Dartmouth College; Harvard University; University of Pennsylvania; Princeton University; and Yale University.
Apart from these, the ‘public Ivies’, ‘little Ivies’ and ‘Southern Ivies’ include a larger selection of public universities, research universities, and smaller liberal arts colleges that enjoy similar prestige to the official Ivy League. These include well-known names such as Stanford University; University of California, Los Angeles; and Johns Hopkins University.
In the UK (specifically England), the most prestigious schools form the ‘Golden Triangle’ with the university cities of Cambridge, Oxford, and London making up the 3 points of the triangle. Naturally, Cambridge is represented by the University of Cambridge, and Oxford is represented by the University of Oxford respectively. The institutions making up the London point differ according to sources, however, the following institutions are often included: the London School of Economics and Politics; Imperial College; King’s College London; and University College London.
Apart from these two popular English speaking destinations, the countries and regions with the most top 500 institutions include: China, Australia, Canada, the Netherlands, Switzerland, Hong Kong, Belgium, Singapore, Germany and Japan.
Of course, competing with the best in the world means just that: competing. Selection criteria for overseas institutions are often stricter than for our local universities. While both South African and international institutions will have school and programme specific academic requirements, universities in the US, UK, Canada, and some parts of Europe also have more holistic entry requirements.
In addition to standardised test scores such as our SA matric senior certificate, A levels, and the Scholastic Assessment Test (SAT), some universities favour extracurricular activities which show depth, passion, and leadership. Activities such as involvement in sports and clubs, holding leadership positions in school, volunteering and concern for social good are all looked upon favourably. For mature students, life experience and career experience will count in their favour.
The last hurdle is, of course, the money issue. Students studying abroad must be prepared to fork out significantly more for their education. Costs will differ depending on the institution, programme of study and location. However, on average, South African university costs were around R55 900 per year in 2023. This cost is expected to rise to R95 700 in 2030 and reach R177 200 by 2038.
In contrast, a public/state university in the US will set you back about 8000 USD-35 000 USD (R144 755-R633 305) and a private university could be anywhere from 25 000 USD-55 000 USD (R452 361-R995 194).
In the UK, annual tuition fees for international students hovered around￡11 400-￡32 081 (R265 655-R747 585), with some undergraduate medical degrees going up as high as ￡67 892 (R1 582 092). A common mistake that South Africans with UK passports make is thinking that this entitles them to local UK student fees. However, to access local UK fees, the student will need to have 3 years of residency in the UK, not just a British passport.
Living costs overseas could also be upwards of R200 000 per year, and additional travel and medical costs would also need to be factored in.
Many local bursaries, scholarships and grants are available for local institutions, however, South Africans will generally need to self-fund study abroad. Having said this, there are some financial aid opportunities available, such as awards for outstanding academic students. Unfortunately, these are rare, and often don’t cover full tuition and/or boarding costs.
SA students can apply for scholarships from the respective institution(s), or check the CSS Profile site for US-based financial aid and the UCAS site for UK-based scholarships and grants.
As we have seen, studying abroad does offer many career and self-development benefits. However, such a large financial investment should not be taken lightly. Having an open money conversation with your Sasfin financial advisor – and with your family – can help you better understand the financial and non-financial factors that should be taken into consideration when considering an overseas degree.
In compiling this article, we collated research from numerous sources. We would also like to thank Rebecca Pretorius, country manager at Crimson Education, the world’s leading US/UK university admissions consultancy, for her invaluable insights.
