How to make the most of overseas study in Spain

Spain is a beautiful country, filled with history, culture, incredible natural landscapes, delicious cuisine, and friendly locals. Plus, it’s also home to some of the world’s highest ranking universities that gladly welcome international students. So, is it any wonder that it’s also one of the most desirable places to go for those who want to study abroad?

Whenever you take such a big step like studying internationally, research and preparation can help you feel more in control as you navigate the process from start to finish. When considering a stint abroad in Spain, there are several things to research ahead of time, including:

  • How much does it cost to study abroad in Spain
  • How to save money while studying internationally in Spain
  • Things to do while studying in Spain and
  • How to apply for overseas study in Spain

How much does it cost to study abroad in Spain?

To be able to effectively fund your ambitions of studying abroad, you’ll need to crunch some numbers to figure out how much you’ll likely end up spending. You could, for example, enroll in a Spanish university directly, or you might opt to enroll via an exchange program offered by your home university, and costs might vary based on the decision you make.

Remember, the costs will also be influenced by the location and the course of study. On average, however, the costs of a semester abroad in Spain can look like this:1

Public universityAverage $1,000 USD per semester
Private universityAverage $7,000 USD per semester

As a whole, you might end up spending, on average, anywhere from $2,500 to $3,500 USD during a semester in Spain in order to cover various expenses, such as rent and utilities, transportation costs, and the cost of your mobile phone service, food, and other necessities.1

Tip: Want to estimate how far your home currency will go once it’s converted into euros? Browse OFX’s currency charts, and also check currency trends, as these can reveal a lot of information that could help you more accurately calculate your costs.

What to consider when studying abroad in Spain

How to save money while studying internationally in Spain

One of the many reasons why international students choose Spain as their study abroad destination is because the country can be affordable not only to study in, but also to live in. Plus, because there are financial aid options available, such as scholarships for international students, you might be able to save even more money than you thought possible.

It’s worth noting that costs will vary, depending on a host of factors, such as the school you choose, whether you’re paying for a graduate program or an undergraduate program, and the city that you want to live in.

The best places to live In Spain to save money

While the major cities of Spain might have a lower cost of living than comparable cities in other European nations, larger cities like Madrid, or coastal areas like San Sebastian, may come with higher costs. However, other parts of the country, such as Seville, may be more budget friendly, so don’t lose hope if you discover that the major cities are too expensive for you.

Spanish beach

Other ways to save money abroad

Small steps can also add up when it comes to saving money while you’re living and studying abroad.

  • If you are living close to your school, walking or biking to class can help you save some cash.
  • Cooking most of your own meals at home, rather than going to restaurants all the time, can also be an easy way to save.
  • And, if you are renting an apartment, finding a roommate to split the cost of your rent can be extremely helpful.

Another smart money-saving move would be to transfer your money with OFX when you need to pay your bills in Spain.

Whenever you use OFX, rather than your bank, to move money from your home account to an international account, you might be able to save up to 70%* on your transfer compared to the banks. This means you’ll have more money to spend on other necessities, or you can use the extra cash to treat yourself.

Things to do while studying abroad in Spain

When you’re a student in Spain, you don’t have to worry about getting bored in between classes, as there are so many fun and interesting things to do. Whether you want to ski on snowy mountains or head to the beach to bask in the sun, Spain has it all.

Want to explore the great outdoors? Spain has you covered with gorgeous national parks. Want to immerse yourself in culture and history? You’ll easily find museums and historical sites to explore. Want to see other nearby countries, such as France, or just other parts of Spain? You can take road trips to see new places when you have a short break from your studies.

By day, you can spend time shopping and dining. Plus, there are always events and festivals to look forward to, as well as a host of nightclubs, pubs, and bars that you can check out with your friends when you want to let loose at night.

Student in Spain

How to apply for overseas study in Spain

Research where you want to go

When it comes to applying for overseas study in Spain, the first step involves researching the school and program that you would like to enroll in. Then, it’s a matter of following their directions for applying.

Collect the documentation needed

Be sure to provide the required documents, such as proof of proficiency in English or Spanish, and pay any necessary fees. And don’t forget to check deadlines so that you can rest assured you won’t miss your chance to enroll.

Check the visa requirements

If you’re planning on staying in Spain for longer than 90 days, you’ll need a student visa, unless you are a citizen of a country in the EU, in which case, you won’t need any visa.

If you do need a visa, contact the Spanish consulate in your area for details on what steps you’ll have to take. Bear in mind that it could take up to a few months to get your student visa, so it’s wise start the process sooner rather than later.

When you go to the consulate, you might need to fill out forms and provide various documents, such as your passport and photo, proof of medical insurance, and proof that you’re financially capable of living on your own in Spain.

On top of that, you might also need to provide the confirmation letter that you received from the university, along with what’s known as an accommodation letter, as this that describes where you’ll live while studying in Spain.

Live it up in Spain!

If you’re in search of an international destination where you can study at a reputable university and be able to participate in a wide range of enriching activities every day, it’s worth checking out Spain. With the right strategy, you’ll be able to explore new places, attend courses that will refine your skills, meet new people, and much more. But it all starts with that first step, so what are you waiting for?

*Average savings based on published rates of ANZ, Westpac, NAB and CBA on a single transfer of AUD$10,000 to USD between 6.9.18 and 8.10.18 excluding weekends. Transaction costs excluded. Quoted savings are not indicative of future savings.









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IMPORTANT: The contents of this blog do not constitute financial advice and are provided for general information purposes only without taking into account the investment objectives, financial situation and particular needs of any particular person. UKForex Limited (trading as “OFX”) and its affiliates make no recommendation as to the merits of any financial strategy or product referred to in the blog. OFX makes no warranty, express or implied, concerning the suitability, completeness, quality or exactness of the information and models provided in this blog.

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