Student debt is increasing at a faster rate than many people can pay it off. If you are one of the more than 40 million people in America that holds student debt, you may be looking for a way to get ahead on your loans. Teaching English abroad is one option that is often overlooked.

 

What makes this a good option?

There are many benefits to teaching abroad for new graduates who hold a bachelor’s degree or higher in any field. Salaries for teachers at the lower end are between $1,200 and $2,500 each month in countries with a low cost of living such as Vietnam. If you work in a higher end country such as China, Korea, or Japan you can expect to make between $3,000 and $4,000 each month.

 

At the highest end of TEFL teaching jobs, teachers can command salaries of $5,000 or more each month. There are teachers that make six figures each year just teaching English and enjoy the many benefits that being a teacher holds such as significant time off each year.

 

What other benefits are there?

The pay alone isn’t really what makes teaching abroad a good option for paying off student debt. Instead, the extra benefits that come with the job make it a great way to pay off your debt and bank money at the end of your contract.

 

These benefits include:

• Free accommodation provided by the school.
• Paid for or reimbursed flights from your home country and back and, in some cases, for holiday travel once each year.
• Most schools will allow you to eat from the cafeteria each day saving you the cost of one meal.
• In some countries, such as Japan, employers are required to reimburse you for transportation to and from work.
• Many companies, especially those in Middle Eastern countries such as the United Arab Emirates, provide yearly bonuses equal to one month or more of pay along with an end of contract bonus totaling thousands of dollars.
• If you have a child and are teaching at an international school they will be provided with a free education.
• In some countries your income is tax-free.

 

You can quite literally teach English abroad and bank almost all of your monthly income. This is all while living and traveling in a new country and experiencing an entirely new culture.

 

Imagine being able to live in relative comfort, pay down your debts, and still have money at the end of each month to put in the bank. It’s an opportunity most people dream about but one which many people don’t even realize exists.

 

Where can I find jobs teaching abroad?

English education abroad is a multi-billion dollar industry and just as in any other industry there are scams. For this reason, it is important to look for work from reputable resources.

 

Some great places where reputable schools often post jobs include, Teach Away, ESL Job Exchange, and Dave’s ESL Cafe.

 

Summary

Teaching English abroad provides teachers with the opportunity to save up significant amounts of money. For people still paying off student debt, this can be a great opportunity to cut costs and put money towards their loans.

 

Devin Hargrove is a freelance writer from the United States. He has been working in the ESL industry for over three years. Find out more at www.devinhargrove.com