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If someone is (a new student) taking fully-online classes abroad - why would traveling be a necessity?

It seems like the extra moving would erode any savings gained from not having locality matter?

Internet quality/availability at home. Ease of collaboration. Home situation not allowing easy studying. Lots of other potential issues...

(This is targeted at normal classes that are online right now, not just at online-only courses)

And timezones. Some classes are synchronous and often deadlines times unsuitable.

Timezones are the huge one, as sadfev already mentioned. Not everyone wants to (or can) be entirely nocturnal for four years because of a 11-13 hour time difference and perform well at intellectual pursuits.

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