College Students Paying for Travel, Not Mooching Off Parents

Posted on July 24, 2009
Filed Under money | By Irene Starygina

study abroad

When I was in college and my mom asked what I wanted for my birthday, I always answered, “A vacation please!” Let’s face it, with an $8/hour (very) part-time job and unpaid internships, I could hardly afford to pay for my my own getaways. Of course, I never demanded to stay in five-star hotels in Europe, but my modest accommodations in South Beach, Miami were always parent-sponsored.

That’s why I found the results of this travel survey conducted by STA Travel so surprising. The survey determined that despite the souring economy, 92% of 18-to-26-year-olds are still planning to travel in 2009, and 68% will be paying for their own trip—with no handouts from the fam.

Here’s the breakdown:

- 68 percent of respondents said they are paying for their trip with personal cash and savings
- 10 percent said their family was paying for their travel
- 10 percent said that their trip was being funded by gifts from family and friends
- 8 percent said they are taking out loans to pay for their travel

That’s pretty impressive if you ask me. Of course, study abroad remains an attractive option for college students because it only costs slightly more than a semester’s tuition and kills two birds with one stone: you get class credit and travel. The cost of studying abroad can be covered by student loans, which undergrads can pay back after they graduate.

For money-saving study abroad tips and advice on where to go, check out The Unigo Guide to Study Abroad.

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