2008 Woodie Awards
Study abroad and the decreasing value of the dollar
Lani Lester
Issue date: 4/3/08 Section: Features
It's been said that nothing in life is free, and that includes the European experience that many students who undertake study abroad seek.
International Exchange Coordinator Brandon Fisher says that, of the destinations available, Europe receives the most interest from students.
However, study abroad trips for both students and professors have been affected by the decreasing value of the U.S. dollar against European currency.
"The U.S. dollar has looked like a troubled celebrity lately," John Wasik reported in a March 25 Boston Globe article. "It has dropped about 7 percent against the European common currency in the past month."
According to a recent Bloomberg report, the value of the dollar has lost one-fourth of its value over the past five years.
Fisher explained that the effects of the latest decline in value will be seen this summer when the majority of students travel abroad but program fees have already increased.
"Over the last decade, I'd say traveling to London has doubled in price," says John Dougan, an associate professor of recording industry who taught Roots, Rock, Reggae: The Cultural Politics of British Punk Rock and Reggae Music, a course offered in London, England, through the Cooperative Center for Study Abroad.
"To continental Europe, not quite as much, but definitely more expensive," Dougan notes. "Until the dollar recovers against the pound and euro, I don't see traveling to Europe or teaching class there anytime soon."
"You do see a decline in participation, the prices are reflected in the brochure," Fisher says.
Despite this decline, Fisher says that the majority of students who do wish to travel to Europe are aware of the value of the dollar and wish to travel despite it.
"Where they want to go, they go," Fisher says.
Stephen Allbritten, an MTSU senior, traveled to England this past summer.
"When we first arrived, the British pound was worth $2.20, so everything was costing us double than if we were in the states," Allbritten says. "At first, this was a little nerve-wracking, thinking about just how much we were spending. After a day or two, though, I just pushed that aside in my mind and enjoyed my trip."
International Exchange Coordinator Brandon Fisher says that, of the destinations available, Europe receives the most interest from students.
However, study abroad trips for both students and professors have been affected by the decreasing value of the U.S. dollar against European currency.
"The U.S. dollar has looked like a troubled celebrity lately," John Wasik reported in a March 25 Boston Globe article. "It has dropped about 7 percent against the European common currency in the past month."
According to a recent Bloomberg report, the value of the dollar has lost one-fourth of its value over the past five years.
Fisher explained that the effects of the latest decline in value will be seen this summer when the majority of students travel abroad but program fees have already increased.
"Over the last decade, I'd say traveling to London has doubled in price," says John Dougan, an associate professor of recording industry who taught Roots, Rock, Reggae: The Cultural Politics of British Punk Rock and Reggae Music, a course offered in London, England, through the Cooperative Center for Study Abroad.
"To continental Europe, not quite as much, but definitely more expensive," Dougan notes. "Until the dollar recovers against the pound and euro, I don't see traveling to Europe or teaching class there anytime soon."
"You do see a decline in participation, the prices are reflected in the brochure," Fisher says.
Despite this decline, Fisher says that the majority of students who do wish to travel to Europe are aware of the value of the dollar and wish to travel despite it.
"Where they want to go, they go," Fisher says.
Stephen Allbritten, an MTSU senior, traveled to England this past summer.
"When we first arrived, the British pound was worth $2.20, so everything was costing us double than if we were in the states," Allbritten says. "At first, this was a little nerve-wracking, thinking about just how much we were spending. After a day or two, though, I just pushed that aside in my mind and enjoyed my trip."
Viewing Comments 1 - 1 of 1
Anon
posted 4/03/08 @ 3:20 AM CST
Spend, spend, spend. We can worry about the costs later.
Okay. It's later. Oh Shit.
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