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Attending university is a costly enterprise. So choosing a university is not only about finding the right country and institution ¨C it¡¯s also about fitting all of it within a budget.

There are many factors to consider when looking at university costs: whether students are planning to study in their home country or internationally; the difference in fees from university to university; the cost of living in the university town.

The financial range is huge, as is the decision that weighs on students¡¯ (and parents¡¯) shoulders. Students can study for as little as €2,000 a year in the Netherlands, or fork out up to $50,000 ¨C or ?50,000 ¨C to study in the US or the UK.

For university counsellors, it is incredibly helpful to start the conversation early, in order to understand a student¡¯s priorities and budget. Encourage students to have a clear budget in mind, and to include parents in the conversation. There may have to be some compromises along the way ¨C but once the budget is clear, it becomes much easier to narrow down choices.

Here are some factors to consider when looking into budgets:

1. What is the budget?

It may sound obvious, but this is a crucial conversation to have, not just with your students, but also with their parents. Ensure that you talk to whoever will be paying the fees and living expenses, and find out how much is affordable not just each year, but over the duration of the entire course. The subject a student wants to study can also make a big difference to cost, as will any additional postgraduate study necessary. Ensure that students ¨C and their parents ¨C are aware of everything they need to take into account when working out their budget.

2. Compile a spreadsheet

University fees are just one element of the cost of going university. Laying out all the costs involved can help with forward planning. What are the tuition fees for each year of study? How much does accommodation cost each year? Estimate the cost of food, going out, travelling around town or going home to visit family. Add the extra costs ¨C visas, furniture (if renting an unfurnished or partly furnished apartment), textbooks, course equipment, new clothes and medical insurance. Encourage students to include all these elements in their budget, plus some extra just in case. They then need to check with the person paying the bills ¨C is this affordable?

3. Working while studying

Setting out the budget early on will help students to know whether they will need to find a job in order to save money for university, or whether they will need to work while they are studying. The rules on whether or not they are allowed to work ¨C and how many hours ¨C will vary according to their country of study and country of origin. If working is important to their finances, this will affect where they are able to consider studying. What are the typical jobs available in these areas? How many hours a week can they work, without compromising their studies?

4. Go global

The difference between fees for local students and fees for international students can be vast. ºÚÁϳԹÏÍø fees are usually the cheaper option and can save students money. But if they want to study abroad, they need to do their research properly. It may be that home fees for the student are cheap, but that the cost of living in their home country is high ¨C which means that living abroad might not make a huge difference to their budget.

5. How much does reputation matter?

There is a university for every budget. But often this can mean compromising on reputation. Students need to decide how important a university¡¯s ranking is to them. If they want to go to a top university ¨C say within the top 250 in global rankings ¨C then they may be paying a premium. There are plenty of fantastic universities out there that are well ranked but won¡¯t break the bank.

6. Allow for a range of options

It¡¯s natural for students to have a particular destination in mind, but encourage them not to narrow their choices too quickly. They should keep an open mind while researching universities, and should try to be objective ¨C discourage them from dismissing a place at first glance. If they are able, they should visit university towns, cities or countries in advance to find out more about what they like and don¡¯t like.