The report, from study abroad platform Via TRM, found 45% of students who said they were highly likely to study abroad never followed through.
Via TRM CEO Dave Saben said the report marked “the first time we can see how much our own processes, procedures and logistics” shape who gets to study abroad, as the study interrogates whether sector systems and processes are getting in students’ way.
Yet the findings reveal the continued impact of financial barriers to studying abroad, with 64% of students who signed up to Via TRM flagging cost as a concern, ahead of planning time (47%), housing (46.5%), academic credit (44%) and getting accepted (37%).
The findings come from anonymised data from thousands of applications on the Via TRM platform, which partners with more than 250 institutions across the US.
Notably, the report tracks each stage of the application process – from first action to application start, submission and commitment – and finds financial concerns become more visible as a student gets closer to a consequential decision.
Of the cost-conscious students, 83% recorded a first action in the Via TRM platform, compared to 87% of students who were unconcerned about costs.
By the end of the application cycle, however, 40% of cost-conscious students commit to the program, versus 60% of those unconcerned about the financial commitment.
But the report proposes the “most interesting students” may be the 2,602 who said cost was not a barrier, and still never reached a commitment.
“Cost has been the field’s answer for as long as anyone has been asking the question. The data confirms it is a real barrier. It does not account for everyone,” the report states.
Does the process we built help students get abroad, or does it get in their way?
Via TRM
It finds two out of every five applications started were never submitted, the largest loss of anywhere in the journey.
What’s more, while 80% of students accepted to institution-run programs commit to the opportunity, the accepted-to-committed rate for provider programs is 65%, with the process typically taking three times as long.
Elsewhere, the data shows the wide time range in which students move through the process. While nearly half of students act on the day they sign up, 9% take six months or more – as the report warns a slow start should not automatically be treated as permanent attrition.
As for destination countries, the data largely mirrors IIE’s Open Doors, revealing Italy, Spain and the UK to be the clear frontrunners among students.
