A Quantitative Estimation of Monthly Expenditure of International Students of UIUC

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Introduction University of Illinois at Urbana & Champaign (UIUC), ranking No. 2 in the most recent nation’s ”Top 20 Research Institution” in number of interna- tional students, currently has 8,203 international students from 115 coun- tries, which making up 20% of her total student enrollemt, and welcomes about 2,700 new international students annually. China, South Korea and India are the top 3 countries where about 71% of the total international students come from.1 For every international student, financial issue is one of the most con- cerned factors when planning advanced education abroad. Usually, before the application process, international students should already ensure their financial sponsorship. The support may from their government program, employer, bank loans, and, in most cases, their parents. Therefore, es- tablishing a comprehensive expenditure plan in advance, which covers most predictable expenses, is very important for international students. However, expenditure inherits heterogeneity and may vary a lot in different months beacause of emergencies, purchases of expensive durables, holiday travel, and so on. Also, such a pre-plan must base on rational expenditure esti- mation because living expenditure is affected by multiple factors, such as the location of the university, price level, personal shopping habit, personal rquired living standard and so on. These uncertainties make international students’ expenditure estimation even more difficult. The above two features of expenditure are the main reasons why international students’ expenditure estimation worth discussing. Literature concerning students’ ... ... middle of paper ... ... see http://www.osfa.uiuc.edu/cost/. Works Cited Bihagen, E. and Katz-Gerro, T. (2000), Culture consumption in Sweden: The stability of gender differences, Poetics, 27(5-6), 327-349. Callender, C. and Kemp, M. (2000), The hardship of learning, Research Report RR 213, Department for Education and Employment, London. Carbonell, J. A. (2007), Cost of living for ERASMUS students. EAIE forum. Hayhoe, C. R., Leach, L. J., Turner, P. R., Bruin, M. J. and Lawrence, F. C. (2000), Differences in spending habits and credit use of college stu- dents, Journal of Consumer Affairs, 34(1), 113-133. Ong, D. (2009), The international student’s handbook: living and study- ing in Australia. Sydney: UNSW Press. Penman, S. and McNeill, L. S. (2008), Spending their way to adulthood: Consumption outside the nest, 9(3), 155-169.

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