1. Financial Implication of Study Abroad Programmes Dr. Kofi Nkrumah-Young

2. Types of Programme General General Specially designed Specially designed

3. Elements of cost Administrative Administrative Security Security Students Specific Students Specific Health insurance Living Tuition Airfare Local travel Field trips & excursions Instructional materials others

4. issues Cost recovery from incoming and outgoing students because of administration and security to the institution Cost recovery from incoming and outgoing students because of administration and security to the institution Cost/benefit Cost/benefit International profile International profile Quality image Quality image Students (improved education, international citizen, politically aware individual Students (improved education, international citizen, politically aware individual

5. Issues cont’d International agreement to minimise the cost International agreement to minimise the cost Socrates and Erasmus programmes Socrates and Erasmus programmes Home cost to students of EU Countries Home cost to students of EU Countries How financing policy of the region benefit How financing policy of the region benefit Bilateral agreements between institutions to hedge against cost Bilateral agreements between institutions to hedge against cost Minimise cost to students Minimise cost to students Reciprocal arrangements Reciprocal arrangements

6. Issues cont’d How are the fees charged and apportioned between participating institutions How are the fees charged and apportioned between participating institutions Exchange rate risk Exchange rate risk Earning in one currency and spending in another Earning in one currency and spending in another US$2.18/GBP selling US$2.18/GBP selling US$1.89/GBP US$1.89/GBP Spread of 29cents Spread of 29cents What hedging strategies What hedging strategies

7. conclusion Quality is essential but we have to prepare to deal with the costs. Cost and benefits must be weighed Quality is essential but we have to prepare to deal with the costs. Cost and benefits must be weighed Awareness is the key. Awareness is the key.