Affordability Is the #1 Factor for International Students. Why It Matters More Than Ever

Vavita Marketing Team

• 3 min read

For students in countries like Nigeria, Kenya and Pakistan, the decision to study abroad begins with one critical question: can we afford it? Long before destination, rankings, university reputation or post-study opportunities are considered, families must first assess whether international education is financially realistic. Recent global mobility research confirms what students across NGN, KES and PKR markets already know from experience. The cost of tuition, living expenses and currency exchange pressures has become the number one factor shaping study abroad decisions.

As inflation rises and local currencies face ongoing volatility, affordability is no longer just about finding the cheapest option. It is about value, sustainability and the ability to complete a degree without constant financial strain. For many international students, affordability determines not just where they study, but whether studying abroad is possible at all.

The latest ICEF Agent Voice survey, which gathered input from more than 1,200 student recruitment agents across 113 countries, shows that affordability and cost of living are the leading factors shaping where students choose to study in 2026. Affordability now outranks other considerations, including visa concerns, in international study decision-making. This was not the case 10 years ago. Affordability used to be lower in the consideration rankings. Now it’s number 1. Education institutions must take heed.

What the Data Shows

The ICEF survey identifies the core priorities influencing student choice, with affordability clearly at the top. Agents report that the cost of tuition and living expenses consistently outweigh other factors in student decision-making. While visa processes and employment opportunities remain important, financial practicality, including total cost and cost of living, has become the primary determinant of study abroad choices, especially for students from emerging markets such as Nigeria, Kenya and Pakistan.

This shift reflects not only family budgeting realities but also broader economic pressures, including currency volatility and rising global living costs. Students are increasingly pragmatic, balancing educational aspirations with financial sustainability.

Why Affordability Matters Most in NGN, KES and PKR Markets

For students earning or planning in local currencies such as the Nigerian naira, Kenyan shilling and Pakistani rupees, affordability is a multi-layered challenge driven by several key factors.

  • Currency pressure and exchange rate risk. Tuition fees and living costs priced in stronger currencies can significantly increase the financial burden when converted to NGN, KES or PKR. Even small exchange rate shifts can meaningfully raise the real cost of a degree over time.
  • Living expenses and value for money. Beyond tuition, students must account for realistic living costs in cities such as London, Toronto or Sydney. Families are no longer judging destinations solely on reputation. They are comparing total monthly budgets, including rent, food, transport and healthcare, before making decisions.
  • Return on investment. Affordability is closely linked to value. Work rights during study, access to part-time employment and clear pathways to post-graduation work all make a destination more financially viable and therefore more attractive. Students want financial clarity alongside academic quality.

The survey also shows that students are not simply choosing the lowest-cost option. Instead, they are looking for programmes and destinations that balance cost with outcomes. As employers continue to prioritise in-demand skills, students increasingly factor career impact into their affordability calculations. In this context, affordability includes expected career outcomes and the ability to offset living costs through earnings while studying.

Because the global agent survey reflects real, on-the-ground insights from practitioners, it reinforces the need for honest and early conversations about financial realities.

How Students Can Navigate Affordability Planning

Prospective international students can take several practical steps to manage affordability more effectively:

  • Start with a total cost assessment. Look beyond tuition and estimate monthly living expenses for each destination.
  • Understand exchange rate impact. Translate tuition and housing costs into NGN, KES or PKR and plan for potential currency fluctuations.
  • Explore scholarships early. Scholarships, fee waivers and financial aid can significantly improve affordability when identified early.
  • Review work policies. Prioritise destinations with clear and accessible part-time work options that can help offset living expenses.
  • Assess employability outcomes. Evaluate post-study employment prospects to understand long-term financial returns.

Conclusion

Affordability is reshaping how students approach studying abroad, especially in markets like Nigeria, Kenya and Pakistan. As a regulated cross-border education payments provider, Vavita helps students and families manage tuition and living expenses more efficiently by reducing fees, minimising currency risk and simplifying international payments.