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Mentor Advice

Question

How far in advance should students prepare financially before studying abroad?

6 Replies from Mentors

  • mentor picture Rae Rae
     
    Rae Rae
    Senior Year Student
    Loyola Marymount University
    You should prepare as far in advance as possible. I’d say as soon as you know you want to...
    You should prepare as far in advance as possible. I’d say as soon as you know you want to study abroad, start saving and making preparations. There is no such thing as being too prepared. Start saving money at your job, and also speak with your financial aid counselor early to find out any forms you need to fill out and which forms of aid will transfer over. Also it’s great to look at outside sources for scholarships. Scholarships.com is a great tool to find aid applicable to all types of study.
  • mentor picture Daphne
     
    Daphne
    Graduate Advisor
    Student Government at North Carolina State University
    I saved money from my refund checks (disbursed after all college expenses were paid) and received a...
    I saved money from my refund checks (disbursed after all college expenses were paid) and received a scholarship from NC State's Study Abroad Office. I also took out a Stafford Loan to defray the cost of personal spending.
  • mentor picture Irene
     
    Irene
    Junior Year Film Production Major
    Loyola Marymount University
    My advice would be to start looking into scholarships as soon as you find out that you have been...
    My advice would be to start looking into scholarships as soon as you find out that you have been accepted into a study abroad program. More than likely, you will find out at least several months before your actual departure date and starting to gather funds earlier will make those last few weeks before departure much less stressful. Be sure to look online for scholarships/grants and turn your applications in EARLY! It is also fun to put together little fundraisers for yourself amongst your family & friends.
  • mentor picture Nancy
     
    Nancy
    Senior Year Student
    Loyola Marymount University
    My main concerns were financial- how was I going to finance the trip? I borrowed money from...
    My main concerns were financial- how was I going to finance the trip? I borrowed money from friends and used a scholarship I had received and set aside earlier. I also applied for scholarships within the program itself and worked long hours to save up money. I had to manage it properly to make sure it would last me the two months I was to be abroad. Post-program I was broke, but satisfied that I had done what I had to do to get there and that I had that life- changing experience! It took me a couple of weeks to a month to get back on my feet through working. Now that I am getting paid regularly I am able to start paying back those who helped to finance my trip.
 
 
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