The costs that move and the ones that do not

Tuition, rent and living costs are all in the destination currency, so all three move together — the exposure is the whole budget, not just the fee line. Money already converted and held in the destination currency is no longer exposed.

Transfer costs are their own quiet drain: the margin on the exchange rate plus the transfer fee, paid several times a year for several years. Compare providers once, properly, and the saving compounds across the whole course.