Remember when you were a high school senior thinking about where you were going to apply to college? One of the factors in your decision was probably location-you probably wanted to consider schools in either the Northeast, Midwest, West Coast or the South. Maybe you even applied to a few Canadian universities. But you likely didn't consider spending the four years of your undergraduate education in China, India or Eastern Europe. For future generations of American students, this may be a more viable option.

The Chronicle of Higher Education recently profiled Study International, a Web-based company that offers students an alternative to mainstream American undergraduate programs. Through the Study International program, students can study at Nankai University in China for four years and receive their bachelor's degrees just as they would at any four-year American program. The company's main selling point is its flat fee of $12,750 per year, which even includes textbooks and airfare. Study International estimates that their Nankai program would cost a student 79 percent less than he or she would pay to attend a private American college or university. As a point of comparison, Brandeis tuition for the 2010 to 2011 school year is $38,994. Combined with additional expenses, a year at Brandeis costs some students over $51,000.

You don't need a college degree to see that this is quite a bargain. It is useful to examine, though, how Study International's Nankai Program may point to a larger trend in the effect of globalization on higher education.

For many years, the U.S. has been a bastion of academic excellence. Quacquarelli-Symonds World University Rankings, which ranks top 200 universities in the world, found that in 2009, 13 of the top 20 universities were American. International students have flocked to American universities for decades. In recent years, their numbers have grown and show no signs of slowing: Over 670,000 international students attended American universities in 2009.

However, gruesomely high and rising price tags for college tuition in the U.S. are prompting some students to consider studying abroad in places like Nankai permanently. Logically, this is consistent with basic economic principles. Higher education, like any market product, as this trend suggests, is subject to basic laws of supply and demand. If the price of attending college in the U.S. continues to rise, it is likely that more American students will begin to seriously consider leaving the country to continue their educations.

There are many advantages to this globalization of education for both participating students and international universities. Besides the obvious financial savings, students who choose to study overseas would receive all the benefits typical of the more traditional junior year study-abroad experience, including exposure to a different culture and language. Undoubtedly, the popularity of short-term study-abroad programs offered at many American colleges and universities has sparked interest in international education.

Of the 200,000 foreign students hosted by China each year, most participate in semester-long study-abroad programs. Still, this number is indicative of Chinese universities' zeal to attract international students.

Other non-Western and developing countries are striving to draw in foreign students as well. 22,000 students from across the globe enrolled in Indian universities from 2007 to 2008, according to the Association of Indian Universities. The president of Study International stated in the Chronicle article that the company hopes to expand its programs to participating universities in Eastern Europe, where college expenses are relatively low. It does not seem inconceivable that African and South American countries in the near future will also look outward to draw in international students.

So does this mean that are we nearing the end of the era of the red brick-and-ivy American college experience? Probably not-at least not in the near future.

Though expensive college tuition is a problem, there are still many simpler options for students who cannot afford private or even generally less expensive public institutions.

Many students choose to attend community colleges and live at home to cut down on expenses. Some attend community college for a year or two before transfering to another university. Online education options like the University of Phoenix are increasingly popular and affordable. There is also the possibility of future government legislation that could ease the burden of college tuition for many American families. Though economical, unfortunately none of these options provide students with the full college experience that studying abroad can offer.

Ultimately, the trend of American students seeking education overseas probably speaks more to increasing globalization than the dire state of American universities.

A student who chooses to attend `Nankai University will probably not select the program as a last resort but because he has a sincere interest in studying in China. This trend may not prove to be directly responsible for the end of an era of American higher education but will likely grow as more programs like Study International expand their services.

At least in the near future, though, I believe that, for the most part, American students will still want to attend American colleges. Despite the high cost of tuition and expenses at U.S. universities, American students are likely to remain willing to foot the bill thanks to their strong reputations and locations close to home.