Does taking a gap year make sense financially? Especially in THIS economy? Well, yeah.

Let’s face it:  money plays a big part in your gap year decision.  It should—the Great Recession may technically be over, but times are a still tough.  And all this talk in Washington about the national debt ceiling has got a lot of us thinking about our own personal debt ceilings.  Is taking a year off before college a good or bad idea financially? 

I was pondering this very question when I came upon this article.  For those of you who don’t want to read the whole thing, allow me sum it up for you: taking a gap year does make good financial sense in this economy—if you take advantage of all the opportunities that the program has to offer, of course.

Today, as many as 50% of students that go directly from high school to college will switch their majors at least once, with others switching two or three times.  As a result, notes that 57.5% of students now take 6 years or more to get their undergrad degree!  With tuition costs rising in both public and private schools, you (and/or your parents) will certainly want to cut down on the amount of semesters you may squander there.  As the above article explains, taking a gap semester or gap year can really pay off in the long run.  Some of Aspire by API’s gap programs give students time to try out prospective majors and careers.  As a result, they’re more focused when they do get to college, which leads to less indecision, which ultimately means less wasted money.

Another thing to keep in mind is that once you finish your time abroad, you’ll be a more attractive candidate to prospective employers.  In an increasingly globalized world, the ability to write and speak a language other than English isn’t just a nice blurb to write down on your résumé—it’s becoming a mandatory skill.  With Aspire’s language immersion programs in Spain, France, and Italy, you can perfect that second language you may have studied in high school, or even learn a new one.   A gap semester will also teach you skills like teamwork, time management and budgeting—and employers love that stuff!  We’ll dedicate another post to this topic later.

Gap programs don’t have to break the bank either.  There are a ton of resources out there to help you cover the cost, however you decide to spend your time off.  Check out these websites for scholarships and fundraising ideas: (NOTE: Aspire by API hasn’t fully looked into this resource yet, but we’re working on it!  For now, just know that in order to qualify for the scholarship, you have to buy the “Test Drive Your Future” Book [$14.95 on])

Enter your name and email to get new posts by email!

“Best of the Blogs” -
“Top Study Abroad Blogs” -
“Blog of the Week” -
“Top 10 Study Abroad Blogs You Should Be Reading” - The Study Abroad Blog
"The Best Meaningful Travel Articles of 2016"
  • We use cookies to personalize content and ads, to provide social media features and to analyze our traffic. We also share information about your use of our site with our social media, advertising and analytics partners who may combine it with other information that you have provided. Please check out our privacy policy.

  • This field is for validation purposes and should be left unchanged.

Speak Your Mind



[fts_pinterest pinterest_name=apiabroad type=boards_list]


Apr 29, 2021 @ 18:30
👋 Hi everyone! I'm Eryn Fleener a senior at DePaul University in Chicago, studying Early Childhood Education. I studied abroad with API Summer 2019 in Florence, Italy! I will be taking over API Instagram tomorrow, make sure you follow along!
🇮🇹 🍕
APIabroad photo
Apr 29, 2021 @ 17:51
🗞️ 🌏 Breaking news! The world is opening back up and travel will return! Enjoy some good news before the weekend! #studyabroad #apiabroad #ispyapi #internationaltravel #Europe
APIabroad photo
Apr 29, 2021 @ 10:57
A lovely day for a tour of Montparnasse au des années folles and some delicious glace 🍦avec API. There is always something new to discover in Paris! #apiabroad #paris
📷 by @api_paris
APIabroad photo
Apr 28, 2021 @ 18:40
The world is slowly opening back up! Vaccinated tourists will be allowed to visit Europe as early as this Summer! #ispyapi #studyabroad #summer2021
APIabroad photo
The API Abroad Blog