How Much Will A Gap Year Cost?

A gap year can be your personal gateway to experiencing new cultures, forming new friendships and gaining new skills. However, if money is tight, you may be wondering whether you could afford to take a gap year before you head to university or into the world of work. It is essential for you to budget for your gap year in advance of time as you may need to work for a specific period of time, embark on a fundraising mission or identifying potential sources of grants or loans.

To budget for your gap year, you will need to sit down and work out how much your gap year will cost you. The expenses associated with a gap year are many and varied. If you choose to use to a gap year provider, you will need to research the organisations available to you to determine which ones offer you the best value for your money. The experiences offered by gap year organisers may include the cost of accommodation, food and drink, and internal travel.

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Your travel costs are likely to comprise your greatest gap year expense and you will wish to look into whether flights are cheaper during certain seasons. It is advisable for you to book a return ticket before you leave. If you fail to do this, you must ensure that you set aside enough funds to buy one. The cost of living in a different country can be difficult to predict. If you can come into contact with someone who has already lived in your country of choice as a gap year student, you will be able to come to a better understanding of the amount of money you will need to set aside to cover your living expenses. In addition to this, you will require additional funds to allow you to pay for any unexpected opportunities that may arise.

Before you arrange your gap year, you will need to ensure your passport is valid for the length of time required by the country that you are visiting. You can check this with the country’s embassy or through the Foreign and Commonwealth Office (FCO). If you need to renew your passport, you will need to budget for the fees that this will incur. You will also need to obtain a visa for your trip. Your visa must be of the correct type and should be granted before you leave. You may need to pay a fee to receive your visa, the cost of which will vary between countries.

Insurance is a necessity for any trip abroad and you will need to ensure that you have sufficient coverage for the entirety of your trip. Many insurance providers will offer gap year policies. However, if you are planning on partaking in any sporting activities during your time abroad, you will need to check that your policy will provide you with coverage for this. If it does not, you will need to take out a separate policy.

A gap year can prove to be a productive way in which to make the most of your time out of work or education. While the cost of a gap year can be expensive, a gap year that is well thought out will add valuable skills to your CV and this, in turn, can pay dividends.

This post was written on behalf of OCVC.

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