Education is free at the point of service for those who are citizens of Sweden. However, many people come from abroad to study in Sweden since the country has an excellent education system and provides opportunities for academic improvement throughout Europe.
For those who are coming to Sweden from abroad, it may be useful to learn about potential lending opportunities in order to cover some of the education costs. There are numerous options available and you should be careful when choosing the one for you.
What Kind of Cards Are Out There?
The first thing to do before taking out a credit card is to figure out what kind of card you’ll need and how you plan to use it. There are a lot of different credit cards out there and Padaysverige offers an interesting overview and comparison between the most commonly used ones.
The type of card to get depends on how much you plan to spend, how you plan to repay the debt, and are there any bonuses and cashback options that you’re particularly interested in. Some cards offer these additional services that could be of great value to a student.
Tuition
The biggest expense you’ll have as a foreign student is probably the tuition for attending the university itself. Long-term credit cards such as the ones reviewed at DayPay loans are the best option for that expense, while others with shorter repayment policies are better suited to other smaller expenses.
Swedish universities are generous even when it comes to foreign students and it’s possible to pay the tuition in installments. That’s something to address with the university before taking out any debt so that you know what kind of expenses to prepare for and at what timeline.
Books and Other Resources
The tuition isn’t the only expense you’ll need to cover as a student. Books and other important resources are also an expense that you could pay using one of the cards found here. Depending on what kind of university you’re attending you could also consider purchasing used books and saving a bit there.
Some university programs will require more resources than others and it’s important to factor that fact in when deciding on loans and credit cards you plan to use. In some cases, universities provide a portion of these resources and equipment and it pays off to use those benefits when you have them.
Grants for Students
Sweden offers a variety of different grants for students, depending on their field of study and financial status. Foreign students can apply for and make use of these grants. Some of the grants need to be repaid after you graduate and others are an allowance to cover the cost of living while studying.
Foreigners can apply for both, but keep in mind that if you decide to take additional loans from the government you’ll also need to repay those in the years to come, which somewhat limits your career options.
The Cost
The cost of studying in Sweden depends on what university you’re in and what subjects you’re studying but for the most part, yearly tuition will be somewhere between 8.000 and 15.000 EUR for foreign students. This could be paid at once or in installments.
That means Sweden is one of the most expensive countries for a foreign student, at least when it comes to the cost of the tuition itself. When combined with other costs it can end up being as much as twice that per year, when housing and other living expenses are taken into consideration.
Other Costs for a Student in Sweden
Other costs beyond the university itself aren’t easy to quantify since they very much depend on the lifestyle you plan to have as a student abroad. Chances are that renting an apartment will be the biggest expense you’ll have to cover.
For the most part, you’ll need to spend about $900 per month in order to cover most of the living costs an average student has. Over a year that will add up to about the same amount as the tuition itself. Not all of these expenses could or should be paid by a credit card.
Considering Your Future
Studying in Sweden also opens you up for future studies in the EU. The degree you obtain in Sweden will be recognized by the universities across the continent and you can continue your education on one of those.
That may be a further incentive to borrow in order to continue your courses in Sweden, but it can also be an additional burden if you plan to take on loans to finish those studies in Europe as well.
Should You Do It?
In the end, this is a personal decision every student should make on their own. Studying in Sweden is expensive and you’ll need to cover at least a portion of it via credit cards and loans. It’s often a good investment to make since Sweden provides a variety of options in terms of future career and academic advancements.
If you have a plan for covering the payments that will repay the loan you’ve taken, studying in Sweden can provide you with great opportunities and the chance to explore an interesting and welcoming culture, as well as meet new and interesting people along the way.