College can break the bank. More Americans are going far away.

Subscribe to enjoy similar stories. American students are increasingly looking to Europe to go to college. Attending university in the U.S.

can set back families $100,000 a year, and millions of Americans are struggling to pay off their student loans. So, to shave costs and still get a quality education, more families are turning to schools in Europe, Canada and Asia. While costs for universities abroad are much lower—a college in France costs a mere $3,300 a year in tuition—it takes more work to navigate tuition, scholarships and visas in foreign countries.

This article is a tipsheet. Close to 300,000 U.S. students studied abroad in the 2023/2024 academic year, up 6% from the previous year, according to the nonprofit Institute of International Education.

Italy, Spain, the U.K. and France are the top destinations. U.S.

students abroad are already getting savvier about their finances, said Mandee Heller Adler, founder of Florida-based consulting firm International College Counselors. “They seem more familiar with colleges outside the U.S. and are aware of the cost differential," she said.

Besides the currency fluctuation and the rising cost of living in some large European cities, Adler says that students should pay attention to hidden costs such as visa fees and trips flying back to the U.S. “Studying abroad will be more expensive than going to a community college in the U.S., but for a middle-class family with some means, it’s a great option," she said. Catriona Formby, a freshman from Stillwater, Minn., agrees.