Will I be able to save money in China?
Will I be able to pay off student loans?
The ability to save money and pay off debts is one of the reasons that sends newbie English teachers abroad. You will meet lots of just-out-of-university English teachers hoping to travel the world a bit, all working to pay down their student loans.
The money situation in is improving steadily. Some people may find it difficult to save much money in China without pinching their pennies. But it is quite possible, depending on your salary. Considering free accommodation and reimbursed airfare, your biggest costs will be food (very cheap) and fun (the sky is the limit!). Some jobs even offer subsidized utilities, free Internet at your apartment and even a free computer at your apartment. Some offer free meals while at work. Some even offer free Chinese lessons.
What is left in your pocket at the end of the month is more a matter of lifestyle. If the local bartender knows you by name and you have a frequent visitor pass at the best nightclubs . . . well, you may not save much.
Overall, an excellent lifestyle combined with an ability to save is available to you.
If this is an issue of concern for you, ask your interviewer about it. They can give you a good idea for the particular city where the school is located. If you wish to teach in Beijing, Shanghai, Guangzhou or other top locations, know that the cost of living in those cities can be very high and you are not likely to save much if anything. However, there a lots of big cities often just 30-60- or 90 minutes by train or bus from those mega-cities where the cost of living is half as much and it is quite easy to save.