My daughter is doing study abroad next semester and it is several thousand cheaper than when she’s on campus. Everyone pays the same amount for tuition, fees, and room (and breakfasts), so for an OOS student, it is cheaper than tuition alone on campus. There are airfares and more traveling around, but those costs are within our control. I expect it to be a wash in the end.
For both kids, the extra costs have gone way down after freshman year. Even the one who lived on campus for sophomore year had a cheaper meal plan, figured out cheaper ways to buy books, etc.
My kids don’t come home for many breaks, just Christmas.