How Can I Afford Study Abroad?
Jun 21, 2009 Study Abroad 1735 Views
Study abroad does not have to be out of your reach financially if you plan ahead.
If you are currently receiving financial aid at your home institution, you can often apply it to semester study abroad programs, as long as you maintain full-time academic status. Other options for financing your semester abroad include scholarships and private loan programs.
Cost Comparison of Programs
Your school's study abroad office will welcome student inquiries about comparing and contrasting study abroad options, which includes program and living costs.
Advertised program prices are not commonly listed as a comprehensive cost of participation.
Thus, it is critical that students "read the fine print" in promotions about study abroad programs and understand "What is Included" and "What is NOT Included" in an advertised program price. It is often the case that what is not listed in a program price can change the semester expenses significantly. Be sure to know what costs are commonly incurred during a study abroad program and ask specific questions of the program sponsor (whether that is your study abroad office or a third-party provider) if the program budget items are not listed on the website or printed materials for a specific program.
Financial Aid Information
Do not assume that you are (or are not) eligible for financial aid.
Explore financial aid options, whether you are currently eligible for financial aid at your school or not. There are additional costs related to study abroad and alternative financial aid resources specifically for study abroad that may change your eligibility.
Financial aid sources come from:
• federal student grants
• federal student loans
• private student loans
• program discounts
• family and friends
• many other sources
Financial Aid and Scholarship Information
You can find links to websites and organizations offering financial aid and scholarship options in our Study Abroad Resources Section