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U.S. dollar weak; students go for broke abroad
Food, travel and housing among rising costs
By MARISA KENDALL on 4/7/08
The falling value of the U.S. dollar against other currencies has made it increasingly expensive for AU students to study abroad.
Europe is currently the most expensive region for American students to visit; the exchange rate in countries that use the euro is now .635 euros per U.S. dollar. One year ago Friday, the rate was .748 euros per U.S. dollars. That same day in 2004, the exchange rate was .824 euros per U.S. dollar, according to XE.com, a Web site that compiles foreign exchange rates.
Most AU students who study abroad go to Europe, according to AU Abroad and Abroad at AU Director Sara E. Dumont.
Abroad students are now paying more for everything - including housing, food, local travel and alcohol. Tuition is the only price that has and will remain constant. Students continue to pay regular AU tuition while abroad, and AU pays the foreign school's tuition on their behalf, Dumont said.
Hilary Ross, a junior in the College of Arts and Sciences and the School of International Service, is studying abroad in Copenhagen, Denmark, this semester. Ross said she has spent more in Denmark than she would have in D.C., even though her room is much cheaper. She pays $450 per month for a single room and private bathroom.
The current Denmark exchange rate is 4.738 Danish krones per U.S. dollar, compared to 6.044 krones per U.S. dollar in 2004. The dollar has even less value in Denmark than in countries that use the euro, according to XE.com.
Food is definitely more expensive, Ross said.
"A breakfast of a muffin and hot chocolate at a coffee shop down the street from school costs $10," she said in an e-mail.
Ross saves money by buying sale items at the grocery store, foregoing meat and imported items and consuming less alcohol. A beer in Copenhagen costs $8 to $10, and a vodka and cranberry juice can cost more than $10, she said.
The exchange rate for the U.S. dollar is not as bad in South America, according to Dumont.
Europe is currently the most expensive region for American students to visit; the exchange rate in countries that use the euro is now .635 euros per U.S. dollar. One year ago Friday, the rate was .748 euros per U.S. dollars. That same day in 2004, the exchange rate was .824 euros per U.S. dollar, according to XE.com, a Web site that compiles foreign exchange rates.
Most AU students who study abroad go to Europe, according to AU Abroad and Abroad at AU Director Sara E. Dumont.
Abroad students are now paying more for everything - including housing, food, local travel and alcohol. Tuition is the only price that has and will remain constant. Students continue to pay regular AU tuition while abroad, and AU pays the foreign school's tuition on their behalf, Dumont said.
Hilary Ross, a junior in the College of Arts and Sciences and the School of International Service, is studying abroad in Copenhagen, Denmark, this semester. Ross said she has spent more in Denmark than she would have in D.C., even though her room is much cheaper. She pays $450 per month for a single room and private bathroom.
The current Denmark exchange rate is 4.738 Danish krones per U.S. dollar, compared to 6.044 krones per U.S. dollar in 2004. The dollar has even less value in Denmark than in countries that use the euro, according to XE.com.
Food is definitely more expensive, Ross said.
"A breakfast of a muffin and hot chocolate at a coffee shop down the street from school costs $10," she said in an e-mail.
Ross saves money by buying sale items at the grocery store, foregoing meat and imported items and consuming less alcohol. A beer in Copenhagen costs $8 to $10, and a vodka and cranberry juice can cost more than $10, she said.
The exchange rate for the U.S. dollar is not as bad in South America, according to Dumont.
Viewing Comments 1 - 2 of 2
A. Cadrin
posted 4/07/08 @ 11:23 AM EST
AU could help their students to afford studying abroad by only charging the true cost of the abroad program NOT the American tuition. In most cases, the AU tuition is much more and they "pocket" the differnce. (Continued…)
Master Cleanse
posted 4/10/08 @ 1:35 AM EST
This is why it is important that we get a president that will help the economy and make the dollar stronger. The dollar is weak because it is worth less. (Continued…)
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