Planning for Your Experience Investment

When financing your Education Abroad experience, preparation and planning is key. We recommend that  planning your finances begins at least one year in advance of your trip. 

You will have similar types of costs when studying abroad that you would during your time on campus.  Tuition, housing, food/meals, health insurance, transportation, etc.  There are also additional costs to consider:

  • $85 application fee
  • Airfare
  • Passport and/or visa
  • Immunizations
  • Personal spending money

Once you have been accepted into your study abroad program, the Center for International Studies will submit an official budget to the Financial Aid Office prior to your term abroad. If you applied for financial aid, the program budget and cost sheet supplied by CIS will be used to estimate your financial aid eligibility and award for the term(s) that you are studying abroad.

Parrot on shoulder alongside beach

Keep your debt low: 

  • Budget closely
  • Borrow only what you need
  • Pay for as much as you can out of pocket

Financial Resources

FINANCIAL AID
SCHOLARSHIPS
BUDGET WORKSHEET (PDF)

Budgeting and Money Tips

Before leaving the United States: 
  1. Consider Power of Attorney for a family member so they can assist with your funds in an emergency. Give a trusted relative or friend access to your account(s) so they can help if there is a problem.
  2. Contact your bank and credit card companies and to inform them that charges will be coming from overseas.
    • Know whether the country you are visiting needs a “chip” in the card to be able to use it. Many U.S. cards do not have this chip.
    • Ask these companies if there are any additional surcharges to withdraw money overseas.
    • Ask about the limit you can withdraw per day or about any other security holds that might cause problems.
    • Exchange rates can change daily.
  3. Be careful what kinds of cash machines used and be aware of your surroundings when you are withdrawing cash.
  4. Traveler’s cheques are rarely used today.
  5. Designate a safe place on your person to carry cash and cards that is not in a purse or backpack.
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