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Learning About Financial Responsibility
At ages close to 16 years, most students live outside their homes in different countries for the first time. However, there may be some who would have seen their parents in transferable jobs and may have lived in various corners of the world. Along with developing the ability to manage finances, students are also able to familiarize themselves with new dresses, cuisines, languages, and other aspects of culture in a new country. Every student looks to make significant payments and handle their own expenses, with some also taking up part time jobs for financial support.
Types of Gap Year Expenses
Parents will need to bear the expenses of children for the Gap Year, though the money given needs to be managed properly, despite scholarships. Likely expenses for the kids include:
Travel insurance, accident insurance, and medical coverage for illnesses and other issues, as per host country requirements
Travel documents like passports and visas
Boarding Expenses
Daily Use
Airfare
Emergency Funds
Ancillary Travel
This is the time when kids will find out more about themselves, with respect to dislikes and likes. It is a stage of tremendous change for the children in an adolescent’s life.
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