Thousands of students in the United States who finance their higher education pursuit with student loans, spend decades after repaying their debts.
It's created a student loan debt crisis and a generation of students crippled with soaring payments for degrees that are often required to advance in their professions.
However, scores young people are now moving to Germany for their graduate and post-graduate degrees, with most choosing to stay there even after completing their education.
Recent stats show that the number of Americans studying in Germany has significantly increased as a result of inexpensive education. Data gained from the Institute for International Education shows that more than 10,000 U.S. students are currently studying in Germany’s higher education institutes. This is approximately 9 percent more than last year and 25 percent more than the number in 2009.
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"For my undergraduate studies in the United States, I needed a lot of loans," said 25-year-old Natasha Turner, who hails from Rochester, New York. "After my studies in Germany I essentially finish with no loans at all."
The cost of a semester in Germany usually amounts to $250, which often enough even covers transportation and books cost. Students therefore get away with paying roughly $7,200 for an entire year, which is around one-fifth of what they would pay in their own country. Moreover, a number of scholarships, such as the Fulbright scholarship, are available for international students.
Students in Germany therefore not only save lots of money on their education, but also don’t have to deal with paying back loans after graduation, which is a huge relief.
Moreover, their degrees are not only well recognized and hold high value in the U.S., but also open doors to job opportunities around the world. Frankly, it is not surprising that more and more people are moving to the European country to further their education or even settle down and work in the future.