One of the main benefits of a foreign exchange program is that it can give you the opportunity to see the world. Once you graduate from university and start a career, you are likely to be tied down to a single place for some time. You will have the opportunity to go on vacation, but you won't likely have the opportunity to spend an extended period of time living in another part of the world.
Another benefit of an exchange program is the ability to spend time at a renowned university like The Sorbonne or the London School of Economics. Surprisingly, top institutions like these often have exchange programs available to many students. This is something that can be a real boost for your resume, and for your personal learning experience.
An obvious benefit of a foreign exchange is meeting new people. This can mean more than just meeting friends, however. Meeting new people in different parts of the world can open up your personal network in a huge way. An exchange program between Stanford and an Indian university, for example, links MBA students from the United States to people in the emerging Indian economy. Having contacts in India can be an invaluable asset in a student's future career as this nation becomes an increasingly important world player.
Foreign exchange programs have the ability to expose you to new cultures. This can involve learning a foreign language, experiencing new foods, and learning new ways of thinking. It is particularly beneficial if you are able to participate in an exchange program, such as the Zajel exchange program, which has many participants from around the world. This will open up your eyes, not only to the country of your host nation, bit to others from around the world.