Forex Articles

France is consistently one of the top study abroad destinations for American students, and it's a great place to live and travel. While the euro used to be very strong, the dollar's surge since the end of 2014 means that the cost of living in France has gone down a lot for Americans. (For more on budgeting your study abroad, see You CAN Afford To Study Abroad.)

If you want to study abroad in France, you have the option of enrolling in an American university program (there are currently more than 60 throughout the country), or of enrolling directly in a French university program (a far cheaper option, albeit with more hurdles and less help).

Here's a rundown of the major costs you'll incur if you plan on studying abroad in France:

[Prices are in U.S. dollars, converted from euros at the July 2015 exchange rate of $1.10 for 1 euro.]

Compared to other European countries, obtaining a student visa for France is time-consuming and expensive. That's because it's a two-step process, requiring you to send your university acceptance to CampusFrance before applying for your visa at the consulate nearest you. The CampusFrance process costs $100, payable by money order, and it can take up to two weeks to receive the documents you need for your visa appointment. After completing that, the student visa costs another $55, payable by debit or credit card at the consulate. Finally, once you arrive in France, you'll have to register with the Office Français d'Immigration et d'Intégration (OFII) to get your visa validated as an official residency permit, which costs $65.

Airfare to Paris can vary greatly depending on your point of origin in the United States, but typically runs $700–$1,000 for a round-trip economy flight on a site like Expedia.com. Plan on buying tickets at least 90 days in advance to get the best prices. If you're studying outside of Paris, you may need to budget another $50–$100 for a train ticket to your final destination.

Part of the visa application requires you to provide proof of financial res sufficient for living in France for one year (or the amount of time you'll be studying there). The official minimum required by French consulates is $675 multiplied by the number of months you plan to stay; consulates in the U.S. will usually ask for proof of around $800 per month. You can show a bank account balance, a student loan or a relative's bank account balance with a notarized statement that your relative will support you if necessary. This is often one of the biggest hurdles for students coming to France independently.

While American study abroad programs can run into the tens of thousands of dollars, the French Ministry of Education sets university tuition at French public universities, and it is very inexpensive. One year of tuition in a master's program, for example, costs only $280, and while you won't get all of the administrative support you can get through more traditional study abroad options, the cost savings may be worth it. (Your U.S. federal financial aid and subsidized student loans can be used at only a handful of French schools, however.)

Note that in order to study in a public French university, you have to be proficient in French, at a B1 level. At this time, there are virtually no public university programs offered in English. To enroll in a public university, you'll have to get translations of your transcripts and diplomas ($35–$50 per page) and take a French proficiency test ($165–$275, depending on the test you take).

You can also get a student visa by enrolling to take French language classes, but you'll have to take at least 20 credit hours per week for a semester, and the costs are higher than for other academic programs. Paris Unraveled, the website for English-speaking students in Paris, has compared programs and their costs: You can expect to pay a minimum of $3,300 per semester for a beginner or $1,100 per semester for a more advanced speaker. If you're under 30, you can work as an au pair and take fewer hours of language classes per week to qualify for a student visa.

In big cities like Paris and even Marseille, rent can be expensive, but living in a studio apartment in the suburbs, or in smaller towns in France can reduce costs considerably. If you're in Paris, you should budget at least $800 a month for a small studio apartment, possibly with a shared toilet. While cheaper apartments are available, they're usually snatched up by students with two French government worker parents with excellent financial means as cosigners. As a foreigner, you'll have to spend more if you don't have someone in France to cosign for you. In other cities, you can get a decent room for $550.

You can also try reserving a room in a CROUS student residence for $450–$550 per month. Unfortunately, Paris has far more students than housing spots, though, so you'll have to make your reservation several months in advance. If you're set to go to France by March or April, you'll have a better chance at this option.

Getting around France can be inexpensive if you're a student. The SNCF, or national train system, offers 25% to 60% discounts to youth 18–27 who purchase a travel card.

In addition, each city has an efficient public transportation system, and students and youth under 26 often pay a fraction of the adult price for an unlimited monthly transportation pass. In Paris, a monthly pass for a student is $40, about half the cost of the adult pass.

All students under 28 are required to enroll in France's public health insurance scheme through one of two student health plans (LMDE or variations of SMEREP). The cost is extremely low, at just $235 for a year of minimum coverage. Students in many American programs get an exemption from this fee and remain on their U.S. health insurance plans.

The basic coverage you receive will reimburse you up to 70% of your out-of-pocket costs for basic healthcare (consultations with a general practitioner or specialist and certain medications). If you'd like to be reimbursed at 100%, both insurers offer ‘mutuelles', or top-up health plans, for as little as $12 per month.

If you're not under 28, don't fret. The EU court has ruled that all foreigners with valid visas are eligible for health coverage, which means that after you've been in France for three months and gotten your carte de séjour, you can apply for health coverage under the general insurance scheme, even if you don't work. To do this, you'll have to provide proof of the past two years of your income, and you'll pay for coverage based on a percentage of your net income.

Studying independently in France is a great way to experience living abroad, to meet French students, and to become fluent in French without breaking the bank. And the best part? If you're considering making France your permanent home, doing two years of higher education in a French university allows you to apply for a work permit and puts you on the fast track for being naturalized as a French citizen. If you've always dreamed of living in Europe, this is a way to make it happen.

For more, see Study Abroad: Budget for Paris and 8 Secrets of Budget Living for Students in Paris. You may also be interested in reading Study Abroad: Budget For Italy, Study Abroad: Budget For Germany and Study Abroad: Budget For Spain.