Cost-benefit of studying abroad tilting away from traditional western destinations

Even though I lived alone and tried to save by doing everything myself, it still took two or three years to clear my debts due to the high cost of living abroad.

But I was luckier than most others.

A friend's mother sold her house and spent VND8 billion (US$315,000) for my friend's business administration degree in the U.S., but after graduating he returned to Vietnam and earned just VND15 million ($590) a month.

She complained: "That's less than what we could have earned by renting out the house. How will we ever recover the money?"

Many see studying abroad as an investment but it does not always deliver the expected financial returns.

However, that said, studying abroad offers more than just financial gains: It provides access to advanced education systems, modern thinking, foreign languages, soft skills, and independence.

Nevertheless, many face challenges after graduating, like losing their connections in Vietnam, reverse culture shock and a struggle to find a job as employers prioritize work experience.

Vietnamese employers prioritize skills, experience and work attitudes over degrees or language proficiency.

International degrees still matter if they are in specialized fields or from top universities, but those from lesser known schools or in fields that demand experience, like business administration, often lose their value.

In fact, job candidates with creativity, adaptability and strong soft skills often outshine their competitors.

Even in IT, once seen as a high-value industry, downturns and mass layoffs since 2023 have made things hard.

New graduates struggle to find jobs in Silicon Valley, America's technology and innovation hub.

Companies prefer hiring experienced workers or cutting costs by reducing recruitment.

This trend makes studying abroad a dubious investment, especially for those returning to Vietnam.

Securing residency after graduation has also become harder as the U.S., Australia and Canada have made visa policies stringent.

Since 2020 the U.S. has made the H-1B visa more competitive, prioritizing high-level STEM degree holders. Tighter OPT (temporary employment for international students in the U.S.) regulations have left people with less time for job searching.

Australia has also pared the list of skills it is looking for in immigrants, preferring specialized professions that need manpower.

These changes signal a global shift toward attracting top-tier professionals while reducing reliance on low-cost migrants.

Meanwhile, in Asia places like mainland China and Taiwan are gaining attention with affordable tuitions, attractive scholarships and rising education rankings.

Two men walking down from the Library of Columbia University, New York. Illustration by Pexels

Studying abroad in Asia is becoming a viable alternative for families looking for both quality education and affordable costs.

European nations such as Germany, Italy and Belgium are also viable options.

Germany has tuition-free public universities, while Italy and Belgium have low tuition and living costs.

For instance, in Germany, administrative fees are €100-350 ($105- $370) per semester and living costs are €850 ($890) a month.

In Belgium, tuition fees range from €800 to €4,000 ($840-US$4,200) per year and monthly living expenses are around €900 ($944).

Such options ease the financial pressure on Vietnamese families compared to costly destinations like the U.S., Australia and the UK.

Short-term overseas study programs are also rising in popularity, especially for workers in their 30s who want to boost their career and gain a new experience.

These short-term courses at prestigious universities allow students to intensively acquire knowledge without the lengthy commitments and high tuitions of regular degree programs.

Top western universities like Oxford, Harvard, Stanford, and UCLA and universities in Singapore and South Korea offer intensive courses in fields like management, technology, finance, and personal development.

The fees for such programs range from $1,000 to $3,000 per course.

Instead of risking large financial outlays on undergraduate studies abroad, many families now choose to prioritize domestic education and later invest in graduate or short-term programs abroad.

This approach reduces the financial pressure on them, and students have more time to gain practical experience and make informed decisions about studying abroad.

Living and studying abroad offer valuable experiences. They help you gain knowledge, see the world differently, understand new cultures, and build important life skills.

The challenges you face overseas also make you more resilient and better at dealing with problems.

Education is a lifelong journey, but studying abroad is a decision that demands careful thought.

You need to consider education and living costs, career goals and personal needs, as this choice will shape your future opportunities and long-term growth.

*Trinh Phuong Quan is an architect.