Record Number Of Students Studying Abroad

The overseas student program Erasmus has seen a record number of students studying abroad, with over 200 000 students using the program in the last academic year.

London, UK (Pryce Warner International) June 15th, 2011 – 213 000 students were given grants to study abroad in the 2009/10 academic year by the EU’s student exchange program Erasmus.

This marks a 7.4% increase on the previous year and means that the program is on track to hit it’s target of helping a total of 3m students study overseas. Erasmus was started in 1987 and has played a large role in encouraging and enabling young people form across Europe to live and study in other countries. The program has been hailed as successfully making universities across the continent more open to foreign students as well as helping provide many people will invaluable language skills and the experience of working with those from other cultures.

The most popular destinations were Spain, France and the UK. The reason for this was deemed to be the quality of higher education combined with the fact that English, French and Spanish are among the most in-demand second languages from employers. The countries that sent the most students abroad were Spain, France and Germany.

33 member states of the EU are now members of the Erasmus program, with Switzerland becoming the most recent member, joining this year. The program also supports work placements, applications for which have risen 17.3% over the last year.

Erasmus has played a vital role in helping students across Europe work and study overseas, as the most common reason people are unable to do so is due to a lack of funding. Nearly a third of students who would like to study abroad are unable to do so due to a lack of private finances.

Often students who move abroad for university or a work placement end up relocating permanently or semi-permanently in their adopted home. This trend is leading to an increasing number of young Expats across Europe.

David Harra, a Senior Market & Investment Analyst with Pryce Warner International Group, a Financial Services Group for Expats Worldwide commented: “Erasmus has done a great deal to help students study abroad and reap the benefits of being immersed in a new language and culture. With employers increasingly demanding second languages and offices becoming increasingly global, the skills Erasmus helps student attain are vital to a successful European economy. Though moving abroad for university or a work placement can be extremely exciting, it is vital that students ensure their financial arrangements are in order, as sorting tax and other matters in more than one country can often be highly complicated. Those considering relocating permanently after a placement especially need to ensure that they have all the necessary tax arrangements made and that their financial stability is secured.”

Pryce Warner International Group provide International Asset & Investment Management, Independent Financial Advice & QROPS Overseas Pensions.

-------------------------------
By: Aneil Fatania
Financial Editor
Pryce Warner International Group
Email: af@prycewarner.com
Website: http://www.prycewarner.com
Telephone: U.K.- +44 20 3364 5016 or Monaco - +377 97 97 29 22