Study abroad doesn’t have to break the
bank. There is a lot of information out
there online, on campus, and in the
form of firsthand experience from
friends and other students who’ve
recently returned from studying abroad.
Before you decide NOT to go due to
cost, do your research.
Most people seem to assume that study
abroad is expensive so much so that
they write it off before even
investigating programs and associated
costs. This is unfortunate because
studying abroad can be quite affordable,
and it’s certainly worth the investment.
In fact it’s probably the cheapest opportunity that most students will have to spend a
significant amount of time overseas without actually moving there. But the cost of
studying abroad varies greatly depending on the type and location of the program, the
length of the stay, and whether the program is administered through a university or an
outside organization.
In an effort to encourage more students to go abroad, many colleges and universities are
committed to maintaining cost parity; in other words, a semester abroad should cost
exactly the same as one on the home campus, at least as far as tuition and board. Others
offer vouchers that can be used to help defray the costs of airfare, meals and in-country
travel, since these costs can vary widely depending on the destination country. Some
study abroad programs especially those in developing countries can actually be less
expensive than tuition and fees for the equivalent amount of time on your home campus.
With a little research, you might be able to find scholarships and financial assistance to
cover a significant percentage of the upfront cost.
Below are the 6 Tips to Make Study Abroad More Affordable
1. Determine if you can apply your financial aid to study abroad.
Any financial aid that you already receive from your university should be transferable to a
study abroad experience run by or affiliated with that university, because the tuition that
you will be paying to study abroad is probably that of your home university. Some
institutions will also allow students to use their university aid for nonaffiliated programs.
Moreover, the amount of aid may vary depending on the type of program you choose. So
don’t assume that whatever aid you are currently receiving from your school will transfer
over; you need to check with the financial aid office. Federal financial aid can be applied to
any program as long as credit is earned and your home college accepts the transferred
credits.
2. Apply for Study Abroad Scholarships.
Most colleges have a straightforward framework for applying for study abroad scholarships,
one that lays out the potential amounts available, the process and deadlines for applying,
and any restrictions that may exist. General scholarships for study abroad assistance, as
well as targeted scholarships for diversity, first-generation (if you are the first in your family
to attend college), and financially needy students are usually offered. Students must apply
for scholarships and some can be very competitive. Be sure to look beyond your college
scholarships, and ask your on-campus mentor or study abroad adviser for further advice
and ideas:
College-based study abroad scholarships, including merit-based, student-specific,
destination-specific, program-specific and subject-specific.
U.S. Government-sponsored scholarships and fellowships, including Benjamin A.
Gilman, numerousFulbright awards, Critical Language Scholarship and Boren
Awards.
Private organizations, such as AIFS Foundation and Rotary Foundation.
Foreign governments or organization, such as German Academic Exchange Service
and the Chinese Government Scholarship Program.
For a comprehensive listing of scholarships check this link
https://www.earlyface.com.ng/scholarships/3. Pursue destinations off the beaten track.
The best way to get a handle on the cost of living in your temporary home overseas is to
compare the cost of living between the two countries, taking into account the fact that
individual cities or regions can be above or below the national level. Study abroad program
advisers should be able to provide you with the exchange rates and cost of living statistics
for your host country, including those for food, housing and local transportation.
Individuals who have studied abroad in the same location or on the same program recently
should also be a good source of practical, on-the-ground information. Certain locations
such as Spain, England and Italy are inherently going to be more expensive than others
such as Ecuador, Peru or Senegal. It all has to do with the host country’s overall standard
of living, especially as reflected in the postsecondary education system, and the overall
price of basic commodities and services.
4. Opt for a short course.
Many universities have been encouraging students to go on short experiences abroad,
coupled with on-campus coursework before departure and after their return. Because these
programs involve only a limited time overseas – two to four weeks – they usually have the
advantage of being considerably less expensive. However, many of these short courses do
not have the same number of scholarships available.
5. Look for Ways to Save Money on the Ground.
Two of the biggest expenses are housing and food. Participating in a homestay is
considered the cheapest option and includes meals and laundry, and offers the best
immersion. You can also save money by preparing your own meals, if possible, and eating
at local restaurants. You should also manage your money wisely, an important lesson to
learn as a student that you can carry through life as a traveler.
6. Work or intern abroad – but do so legally
Internships abroad are a growing area in education abroad, and they are not only in the
purview of study abroad offices. You can also seek guidance from your academic
department or career services department which often work with the private sector to
arrange internships for their students. More often than ever before, universities are
reaching out to their alumni to develop internship opportunities for their students. Plus you
might be able to find some sort of work when you arrive, but make sure you investigate
and follow local labor laws.
Study abroad doesn’t have to break the bank. There is a lot of information out there online
(STUDENTS NIGERIA), on campus, and in the form of firsthand experience from friends and
other students who’ve recently returned from studying abroad. Talk to other students who
have gone before (several if possible) to find out how much things really cost and how
much they really spent above and beyond the “posted” price of the study abroad program.