Resource Series 4: Tips for Financing Study Abroad

It’s the constant question among students and parents that are interested in learning about study abroad—“How will I pay for it?”

If money is tight, studying abroad may seem like the last possible option. Hopefully, the resources given here will show you that studying abroad can be an option for anyone, including students with financial concerns.

  • First off, check out all of the scholarships listed on our website! We have scholarships through our office, national scholarships we recommend to students, and tons of information about using financial aid and loans to study abroad!
  • When choosing a program, have an honest conversation with your family (or anyone who may help finance your education) about what is feasible for you in terms of cost.
  • NAFSA: Association of International Educators recently published this list of resources or students interested in working, volunteering, or interning abroad. 
  • Check out what specific options your program offers. Some programs and institutions even offer their own scholarships and aid!
  • There are countless articles and posts about how to fund your experience abroad, including this one from the organization Go Abroad.
  • Check the government’s website for financial aid and loans.

 

Aside from finding additional ways to cover the cost of your program, if you’re worried about money, choose a program that’s cost effective! Go Overseas posted a blog about which providers (or “non-TU programs” on our database) provide cheaper programs for students.

Look into whether or not your program has different payment options. The school I attended abroad had different options for paying for housing—you could pay it all up front, or set up a monthly or bi-monthly plan. Breaking the costs up may make it more manageable to pay for, so check if your program has different payment plans available.

Lastly, we have a previous blog post with personal tips to help students save money and budget in order to study abroad!

We never want students to feel like they can’t study abroad because they can’t afford it. If there is anything we can do for you, we will try to help! Give us a call at (410) 704-2451, or contact us via email at studyabroad@towson.edu.

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