Tuition would be much lower, I think you are credited for the taxes you would pay in country, and generally - while you have to report foreign income - you have to make quite a bit before tax would be assessed.
Even for the job scenario, you get a tax credit for foreign taxes paid which in most industialized countries would probably neutralize any US tax burden and then some. If the job is in a developing country, I would think the cost of living advantages would make it worth it if you were above the limit.
However, not a CPA or finance pro. I went to grad school abroad and looked into the implications of staying a bit.