Financial Aid for Study Abroad: An Undergraduate Student's Resource

Financial aid regulations and sources for study abroad differ for undergraduate and graduate students. This resource focuses specifically on undergraduate students.

Financial aid for undergraduate study abroad consists mainly of federal grants and federal and private loans. However, scholarship money is also available from organizations and sponsoring companies. You likely have many questions about the cost of studying abroad and about how you can fund your abroad experience. Be sure to speak with your campus financial aid officer and study abroad adviser to learn more about specific funding options available at-and required procedures for-your college or university.

You probably have two major questions about financing your study abroad experience:

1. How much does it cost to study abroad?

2. How can I fund my study abroad experience?

- Federal Aid

- Other Types of Aid

The cost of your study abroad program will depend on many factors, including your destination country, the type and length of your program, and what is included in the program cost. Be sure to consider costs beyond the program fee, which may include passport, visa, airfare, immunizations, local transportation, meals, books, insurance, and incidentals.

Cost Estimate Worksheets

Talk with your study abroad adviser to see if your school has budget and cost sheets that you can use to estimate your specific costs. A file to evaluate your budget will be e mailed to you and it may help you sort through the various costs you may encounter.

Variables to Consider

- Destination: Talk with your study abroad adviser about the locations you are considering.

- Exchange Rate: Remember that currency exchange rates fluctuate constantly. Visit an online currency converter to stay abreast of the latest rates.

- Program Duration/Timing: While short-term programs may be less expensive, you may find that there are more resources available to you.