We advise you to consider again the situation. Studying abroad is an unforgettable experience, which deserves to be given a serious thought. Except the traveling and may be the rent (if you have your own place or you live with your parents back home) you will have the same expenses. And of course - home or abroad - you could always find a student job or scholarship to help financing your education.
However, the countries where you want to go and where you come from do matter. If you move from a country with a very high living standard to one with lower, you will rather have an advantage when it comes to finances. If it is the other way round, you will probably have difficulties.
For Americans, studying in Europe is very beneficial. It offers much cheaper education than in the USA, moreover the universities in Europe don’t fall behind when it comes to quality. Nevertheless, it is also a great chance to discover “the old continent”.
Tuition fees are a big part of the study expenses; it is worth to gather information about universities with none or very low ones. Furthermore, most of these institutions offer a good quality education – gratis doesn’t necessarily mean bad. Where to go then?
1. Germany. Most of the German state universities don’t charge tuition fees. Students only have to pay an administration fee (called Studentenbeitrag), which is usually between 100€ - 250€ per semester. This sum includes a public transportation card for the whole state (or at least for the city) and a library pass. As Germany is a social country with a strong economy, there are many discounts and preferences for students. Living costs are also not very high, especially in comparison to other countries in West Europe. German universities offer great number of Masters programmes in English (also French and sometimes other languages) and foreign students are always welcome.
2. Czech Republic. You will have the opportunity to study for free in the Czech Republic, but under one important condition – to study in Czech language. This definitely could be a big difficulty, but if you enjoy learning languages or you are interested in this culture and want to learn it, you can go for it. At Czech universities you can also sign up for a preparation/language course one semester or a whole year. The living standard in the country isn’t one of the highest in Europe and students who deal with limited budgets can afford a “normal” life and accommodation.
3. Iceland. This amazing and beautiful Northern country is the most sparsely populated in Europe and has just seven universities. Three of them are located in the capital Reykjavik. There are no tuition fees, but you will have to pay around 50€ for application and 600€ - 700€ registration tax. However, if you are considering an exchange programme, like Erasmus, these costs don’t apply for you, as you have paid the fees in your home university. So far, so good! Living in Iceland is extremely expensive for most students and it is advisable to contemplate about it.
4. Denmark. Postgraduate education at Danish universities is free for EU/EEA and Swiss students. If you come from another country you will pay from 6000€ to 16000€ for your Masters. While you are studying in Denmark, you will feel welcomed and supported, because the universities care a lot about their international students. Of course, they offer many opportunities to study in English. Denmark offers excellence in education, combining traditional work with practical-oriented projects and many teamwork tasks. If you want to move to a place with green lifestyle, friendly society and many opportunities to be close to the sea, you should choose Denmark.
5. Sweden. Master’s degrees here aren’t free, except if… you come from EU/EEA country or a Nordic country. Sweden is among the European countries with the highest living standard, but the education there is affordable and it's quality is very good. For more information about funding your studies check the Universityadmission.se.
Don’t get discouraged, if your desired country is not on the list. There are plenty of possibilities to fund your study and this doesn’t apply only for students with excellent grades. Do a good research about it, because “where there is will there’s way”.
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Masters portal for Germany: www.master-and-more.de
Masters portal for Austria: www.master-and-more.at