Basic Facts on Study Abroad in the 21 st Century

Decide How You Will Finance Your Trip

As you decide which program meets your needs, you should have an accurate idea of how much your sojourn abroad is going to cost. Programs organized by U.S. institutions and organizations usually charge a price that covers the major expenses: tuition and fees, room and board, books, local transportation, and medical and accident insurance. Be sure to find out what your program's fees do not cover. Overseas round-trip transportation is sometimes included, sometimes not. After comparing the cost of several programs, you may discover that a higher-priced program is actually a better value because of the elements it includes.

Tuitions at foreign universities, which are usually state supported, are often much lower than those charged by American institutions. Some countries, however, such as the United Kingdom and Australia, have initiated separate overseas student fees that are considerably higher than those charged to their own citizens. U.S. institutions try to keep the costs of their overseas programs comparable to costs on the home campus.

The cost of living abroad depends on the country. As you would expect, big cities are generally more expensive than smaller cities and towns. Living in countries in which the U.S. dollar is weak relative to the local currency is especially expensive. Your own spending habits will also play a large role in how much you spend. Students on limited budgets have had successful and rewarding study abroad experiences by managing their resources very carefully. Budget for additional expenses such as admission to cultural sites and events, optional travel (often an unexpectedly large item), food and housing during school vacation periods, fluctuating exchange rates, inflation, gifts, and personal expenses.

Financial aid
The Higher Education Act of 1965, amended in 1980, says that a student enrolled in an academic program which normally includes a formal program of study abroad may be considered for federal financial aid for "reasonable costs" associated with such study. Talk to your study abroad adviser, financial aid officer, or bursar about the possibility of using the financial aid made available to you through your college or university. Investigate all sources:

• Federal need-based aid , in the form of grants that do not need to be repaid, and loans, which require repayment.

• State need-based aid and merit scholarships . These include grants or loans as above but may also include tuition waivers or other types of aid.

• Institutional aid . Most institutions have a wide array of merit or need-based scholarships, with the funds often donated by alumni. Find out if you qualify for any of these awards; you may find that the moneys can be applied toward the cost of study abroad programs sponsored or recognized by your institution. In addition, some institutionally based study abroad programs offer limited scholarship support for their participants.

If you are planning to attend a program sponsored by another institution, look into the possibility that a consortium agreement exists between the two schools that will allow you to carry your financial aid to the sponsoring institution. Your financial aid and study abroad advisers are good sources of information.

Private organizations and civic groups are two additional sources of aid for study abroad. For example, the Rotary Foundation, the world's largest privately sponsored international scholarship program, provides funding for overseas study to undergraduate, graduate, vocational, and journalism students. Private organizations and associations related to your area of study or destination are worth consulting, as are ethnic and service organizations.

Competitive fellowships and grants for graduate study and research abroad are available through the U.S. government. Two examples are the Fulbright U.S. Student Program and the National Security Education Program (NSEP). The latter also offers scholarships for undergraduate study abroad. In addition, government organizations in foreign countries, such as the German Academic Exchange Service (DAAD), offer opportunities at the postbaccalaureate level.

Finding funding sources requires creativity and perseverance. Many college and university study abroad offices maintain libraries that offer information on funding for study abroad. Information can now also be obtained through the Internet.

For a listing of organizations and publications offering information about study options abroad, please refer to the Resources for Students and Advisers sections: Organizations and Publications.