Your Study Abroad Resource to Find Answers, Funding, and Programs

Funding

Introduction

In this section, you will learn how to help cover the costs of study abroad in the country of your choice. With appropriate planning, most students that can afford to study at a U.S. college or university can afford to study abroad in the country of their choice. It is important to take into account all program and personal costs to ensure you have sufficient funds for a healthy and safe experience in the country of your choice. Be sure to contact your Study Abroad Advisor and Financial Aid Office to explore what financial options are available to you through your school.

We offer information about Study Abroad program costs, questions to ask yourself about study abroad funding, descriptions of different financial aid options, advice on calculating your living expenses for study abroad, and an extensive list of grants and scholarshipsfor general study abroad programs, for students of diverse backgrounds wishing to study abroad, and general scholarships for underrepresented students.

Program Costs

It is important to consider all financial aspects of a study abroad:

  1. General Fees:
    1. Application fee (Is it refundable?)
    2. Administrative fee
    3. Tuition and other academic fees
    4. Books and other program supplies
    5. Use of labs and libraries; computers: internet use fees, access to e-mail
  2. Accommodations/Food:
    1. Room and board (Are room and board included during vacations and holidays?)
    2. Housing or key deposits; residence permits
    3. Food (Does this include three meals a day? Seven days a week? Weekdays only? Are you personally responsible for any non-travel related meals?)
  3. Transportation:
    1. Round-trip transportation from the United States to the host country.
    2. Transportation from US home city to US point of departure, if not included in the round-trip
    3. Transportation from point of international entry to program site, if not included in the round-trip
    4. Daily transportation fee; commuting costs to and from campus; program-related travel and excursions.
  4. Travel Documents:
    1. Passport fee
    2. Visa, if required
    3. Immunizations, if required;
    4. International Student Identity Card.
  5. Insurance:
    1. Health and accident insurance
    2. Traveler's insurance, for lost or stolen personal items.
  6. Miscellaneous:
    1. Fluctuating exchange rates
    2. Other program-related expenses
  7. Personal:
    1. Laundry; dry cleaning;
    2. Personal care products.
    3. Optional travel (rail, bus, plane passes, etc)
    4. Gifts
    5. Admission to non-program related cultural sites and events
    6. Postage and phone calls
    7. Going out
  8. Additional:
    1. Don't forget to budget money for pre-departure purchases: clothing appropriate to the climate, luggage or a backpack
    2. Duties or customs fees : you may have to pay on goods purchased overseas upon your return home.

Resources

  1. Study Abroad Parent Guide Financial Information: Financial information geared towards parents, but useful for students as well.
  2. GlobalScholar.us: Go to Course 1, Module 2, Task 6: "Money Management" about how to save and spend money while overseas.
  3. AllAbroad.us – Budgeting: Mentors address how to create and follow a budget as well as giving tips for budgeting overseas.
  4. AllAbroad.us – How to Pay: Mentors answer questions about how to pay for a study abroad experience.
  5. AllAbroad.us – Study Abroad Scholarships: Scholarships, grants, and fellowships for general study abroad, diverse students, and for non–traditional countries.
  6. Fast Web: This service provides a free customized list of financial aid sources including private sector scholarships, fellowships, grants, and loans.
  7. GlobalScholar.us: Go to Course 1, Module 1, Task 5: "Funding Your Study Abroad Program" for useful information about saving and how to research financial aid.
  8. StudyAbroad.com: Directory of various financial aid programs and websites for study abroad.
  9. Study Abroad Student Guide: Information about financial aid programs for students studying abroad.
  10. The Financial Aid: Page links to scholarship searches and comprehensive listing of financial aid information.
  11. The Student Guide: Department of Education publishes a guide each year on the eligibility requirements on various federal aid programs.
Sponsors
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