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Well Hello.
Im from the UK. Over here we have 2 types of foreign exchange students.
1. In school, so children under 16. They come to the UK because of the language they are studying for example when i was in school we would get french exchange every few months and vice versa.
2. In University. college and teaching. If you are a training teacher again in a language subject then you can stay for about a year. Or you can always be a languages student in college and get your place to organise a visit with a Uni or college.
And as far as money goes, its gonna be expensive if you decide to live on your own, usually you stay with another student from where you are studying etc.