(Disclaimer: For information and entertainment purposes only. Not intended as personalized advice of any sort. Please consult a qualified professional.)
Recently, one of my youngest cousins graduated high school, and started college at a large American university. He’s a bright young lad, with a ton of potential (not just saying that because he’s family, the kid’s smart as a whip), and already has a game plan set for his undergraduate and graduate studies - he’s majoring in business and wants to get his MBA.
His parents are extremely proud of him, and so am I. He earned a spot at one of the best universities in the nation, that has one of the most powerful alumni networks in the world. On top of that, his grandparents very generously offered to pay his tuition, including grad school, as long as he stays in academic good standing. This was a huge relief to his parents, who, like many American and Western parents, are scared of the prospect of astronomical tuition rates at public and private universities.
In addition, more of his relatives have paid for his room and board (also a very pricey item for the college-bound), and another relative who lives nearby let him know he and his roommate are welcome in their home anytime they need a place to do laundry, get a hot meal, or just stop by to visit, with no strings attached. Though, knowing my cousin and his friends, they likely will still volunteer to help out around the house (cutting the grass, painting the fence, taking out the garbage). That’s just how he is - he’s a good kid, in every sense.
He’s one of the truly fortunate ones to have such a loving, caring, generous family to support him as he gets on his feet. Many families, though they love and care for their children just as much, simply don’t have the resources to pay their kids’ way through college.
I was never as fortunate as my cousin. I had to work my way through school, my employer never even offered such luxuries as tuition reimbursement (one of my bosses actively tried to derail my academic career), and I was left with little choice but to take out a huge sum in student loans.
It wasn’t the best hand to be dealt in life, nevertheless it was the hand I was dealt, and I had to play it as best I could.
It took me a few years longer than my classmates, but I’m finally in a position where I’m doing alright, and I’m on an upward trajectory to do even better.
But what of families whose young high school graduates’ futures appear more uncertain? For many, college has become so expensive, even many young people are saying “screw it,” and foregoing college for a trade school or even just starting in the workforce. Some are even taking the risk to start businesses fresh out of high school.
More power to them, I say. There’s absolutely no shame in learning a trade. Nobody ever went broke being a plumber, electrician, or welder. A job fixing up cars or driving a semi (lorries, as our British friends call them) is a perfectly respectable way of earning a living, and more are desperately needed. If all you need out of high school is a few weeks or months to learn to code, a few certifications under your belt, in order to land a tech job, then Godspeed, my friend. There is also zero shame in flipping burgers, sacking groceries, or delivering pizzas as your first full-time job. I have done just that, as have many others. When you’ve got bills to pay, or you have to pay for your own meals and gas in your car, there truly is no job that is beneath you.
For those who truly believe college is the right way to go, they face a big choice:
Try to get as many scholarships and grants as they possibly can;
Get a job and work their way through college, and hope that their employer will provide tuition reimbursement; and/or
Take out student loans, and be crippled with debt before they even get their diploma, that they cannot discharge through bankruptcy, nor do they have any guarantee they can pay off.
What if there was a fourth option, though? What if you could get a quality university education somewhere, and not have to go into five or six figures’ worth of non-dischargeable debt?
James Hickman, a.k.a Simon Black, of Sovereign Man shows us that the Fourth Option truly does exist:
anyone who insists on obtaining a university degree ought to consider looking abroad. The benefits are innumerable.
First of all it’s a huge differentiator. If everyone else you’re competing with went to XYZ State University, and you studied in Switzerland, you’ll immediately stand out.
Second, the personal growth and development that come from living abroad is extraordinary, especially during a young person’s impressionable years.
At a minimum you’ll likely have a great chance to learn a foreign language and build a valuable global network, both of which are unique differentiators.
Then there’s the low cost, which is one of the biggest benefits of all.
Over the last 40 years, average tuition costs at US private universities rose 213%. Public, four-year institutions fared worse – a 271% rise.
It’s no wonder that the average student loan debt is approaching $40,000.
Including living costs and incidental expenses, four years can easily run over $100,000.
Candidly, most teenagers might not be sophisticated enough to make a $100,000 decision. So bringing the cost down is imperative.
There are plenty of countries overseas where you can study at a top-tier university for a fraction of the cost back home…
For example, tuition is free in Venezuela, but you’re not exactly going to receive a globally competitive education (especially now that they can no longer afford toilet paper).
Meanwhile Hong Kong boasts a number of top-ranked universities, but the price is extremely affordable. That jurisdiction ranked #1 in our review for quality vs. price.
My team gave top marks to the UK, Switzerland, Singapore, Norway, Germany, and Israel.
But recently we’ve taken our analysis deeper.
You see, one of the other great benefits about studying abroad is that it’s a great way to obtain foreign RESIDENCY, and perhaps even a second passport.
This is a major component in what I call a Plan B.
Foreign residency ensures that, no matter what happens (or doesn’t happen) in your home country, there will always be somewhere else where you and your family are welcome to live, study, work, invest, and do business.
Plus, most countries have rules that allow legal residents to apply for citizenship and a passport after a certain number of years.
This takes the benefits even further.
With a second passport, not only do you have another country (or multiple countries) to call home, but you’ll be able to travel the world with greater ease, do business in more places with fewer restrictions, and pass on all these great benefits to your children and grandchildren.
It all starts with residency. And in many countries, obtaining a student visa is a great way to get started.
Studying abroad in each of those countries I already mentioned, in fact, can lead to permanent residency and potentially even second citizenship…
… while at the same time you’ll receive a highly competitive, top-quality education without the mountain of student debt.
Oh, and for parents who have been diligently saving for your children’s education, you can even use your 529 college savings plan at some of these overseas institutions.
Think about it– the entire point of going to university is to prepare for the future.
What better way to do that than by knocking out one of the most important components in your Plan B?
What better way, indeed. But that’s not all:
if you choose the right country, on top of a low-cost (but still high quality) education, foreign residency, you’ll also have tremendous business and entrepreneurial opportunities after graduation… all in one place.
Estonia, in Europe’s far north, is one country that offers huge opportunities for a young person.
First, the University of Tartu (in Tartu) is a world-class research university – among the top 1% of the world’s best universities, in fact. It offers 23 programs taught in English, including computer science, robotics and computer engineering, software engineering and others… for only €2,000 ($2,325) per semester.
And when you graduate, you can stay and work for an Estonian startup, or start your own business. Both Skype and Transferwise were started in Estonia.
If you complete university in Estonia and remain in the country after graduation, you could be eligible for permanent residency three years later.
(That would mean you can come and go as you please and travel/live freely across Europe, from Ireland to Switzerland to Croatia.)
That’s a world-class education for a fraction of the cost and a clear path toward residency in another country. And you’ve expanded your job prospects across another continent.
But Estonia isn’t the only country where you can receive an excellent university education on the cheap.
Average annual tuition in Germany is less than $1,000. And Germany grants non-European Union (EU) graduates an 18-month residence permit to find a job. (The clock starts ticking when you receive your final exam results.)
When you find a job, you can apply for either a German residence permit or an EU Blue Card that allows residency in all of the EU. After two years, you’re eligible for permanent residency in Germany.
Before you take on a huge amount of debt for a degree of questionable value, remember that there are ALWAYS other choices.
This is something I’ve been talking about with some of my colleagues. They have children who are in high school, or are preparing to graduate from high school. Although they are people “of means,” even they do not relish the idea of paying tens or hundreds of thousands of dollars in tuition, fees, meal plans, and room and board.
These colleagues are also of a more right-wing political leaning, which naturally doesn’t jibe with the whole wokeism thing, and tend to look at American universities as brainwashing factories of left-wing indoctrination. And they’re not wrong. Their kids are still impressionable, and would not have a good time studying in the modern American university. They would come out with a lot of self-loathing over imaginary “privilege,” they would be hated for who they are and what they look like, they would be hated for their faith (they may even come out with less or even no faith, God forbid), and they just wouldn’t learn very much, in terms of academics.
That’s not exactly what I would call adequately preparing them for adulthood and their future.
So I posed the question to them: What if you sent your kids somewhere abroad, where they could get a quality education that still focuses on actual academics and career training, and for way less than a college in America?
“Tell me more,” they said.
Actually, they didn’t say that. It was more like “YOU MUST TELL ME MORE, RIGHT NOW!!!!!”
“Whoa, calm down! Take it easy,” I said. Then I offered to provide them the information I had, which they were incredibly grateful.
Unlike some services out there, I’m not going to charge you for it, either. After all, it’s about getting you or your children pointed in the right direction.
First, there’s a consulting service called Beyond The States, that helps parents find cheaper college options in Europe. Some of the benefits, per their website:
You don’t need to know a foreign language! There are 3000+ bachelor’s degree programs taught entirely in English-offered at universities in EU/EEA countries. There are even more options for master’s degree programs!
College in Europe is much more affordable than you might think. The average tuition for international students is right around $8,000 per year. There are hundreds of options under $4,000 per year and 50 that are tuition free-even for international students!
There are transparent and attainable admissions requirements providing an escape from the US admission rat race. College in Europe helps provide a competitive edge in the job market-not only due to the emphasis many schools have on internships, but also due to the development of soft skills that employers are seeking.
College in Europe will change your life in ways you can’t even imagine!
One incredibly prestigious, yet highly affordable example is Switzerland’s Federal Institute of Technology (known as ETH). ETH is regarded as the MIT of Europe, and offers an extensive amount of coursework and degree programs in English. As of 2022, their tuition is approximately USD$1500 per year. (That is not a typo.)
One incredibly helpful tool is Quacquarelli Symonds Top Universities. Unlike US News & World Report, QS ranks universities around the world, and even sorts their rankings by geographic region.
Think of it: You or your kid can go study abroad in places like Warsaw, Budapest, Vienna, Zurich, even somewhere off the beaten path like Kuala Lumpur, Malaysia, or Santiago, Chile, for roughly the same or less in tuition than you would pay for community college in America. You’d get the benefit of world-class education, plus the chance to see the world, and even pick up a second residency or citizenship.
That’s a heck of an Escape Plan, even if not entirely making an Escape From The West.
You can always make a full Escape after walking across the stage at graduation.
What do you think? Would you or child consider studying abroad at a foreign university? Subscribe and let me know your thoughts in the comments below.