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How to Afford Study Abroad

6 Proven Ways to Afford Study Abroad

Beneath the excitement of planning a trip abroad is the reality of expenses. A lot of the time it can cause demotivation to those who struggle with money, to begin with. Although money is a tangible and significant part of reaching your destination, it is nothing compared to the intangible recollections you will have once you experience overseas. So, in turn, follow along for information that will help make funds the least of your worries and you can enjoy affording to study abroad!

Arrange a Payment Plan
Here at Globally Abroad, we offer payment arrangements for our travel programs. It is never a burden to plan ahead and allocate a plan so you can reach your study abroad destination! We are here to help. For details about our payment plans, you can visit our Program Payment and Refund page. After that is said and done, prepare for an adventure of a lifetime.

Choose the Most Inexpensive Travel Program
It may not be ideal, because you have your heart set out on a specific travel place, but sometimes it is the smartest thing to pick a travel program that will not break the bank. Whether it be your first, fifth, or tenth expedition internationally, it is acceptable to settle for what is easiest and available to you. I mean, you are traveling to a new and unknown place, so it shouldn’t be too off-putting to “settle” on a foreign destination – take it as a sign! You may find or learn something you never knew you needed until you get there.

Apply for Scholarship
You want to do this far in advance before booking a study abroad trip. Obviously, this means being aware of the required costs beforehand so you can choose scholarships that will assist you the most. When searching for scholarships to apply to, you can apply through departments at your school or you can merely search for a few on the internet. You can easily find scholarships that pertain to your field of study, background, studying abroad in general, or ones that contain no relevance. It’s so convenient! After you have applied scholarships toward your study abroad program, you may still be short on money to pay for your flight tickets or accommodate for spending money on your trip, but fret not, there are more options!

Start Fundraising
Asking for money, for some people, can seem impolite, but doing so for the sake of broadening your mind and horizons is a perfectly fine cause. Actively creating different buzz or events to raise awareness for your study abroad funds can be an exciting approach! And it can also reach your favorite aunt, grandma, or cousin who would do absolutely anything for you – this would be a great opportunity to send a letter and have a pen pal before you depart. With the following link, you can find a slew of fundraising ideas, specifically for studying abroad. Good luck!

Get a Loan (or any Financial Aid)
Another financial option to provide to your study abroad funds is getting a loan or financial assistance from your university. It is entirely possible to use financial aid that you are currently receiving for a normal semester toward a semester abroad. The only requisite is you must be earning credits toward your declared degree. It is imperative you pay a visit to your school’s financial aid office or academic advisor so that they can guide you toward what is going to best suit you. It can be unnerving taking out a loan, but usually, financial aid programs throughout the U.S. Department of Education sustain low-interest rate student loans. All of these resources are only here to help you, never hurt you.

Budget, Budget, Budget!
Creating (and adhering to) a budget for your study abroad trip is probably the first essential must-do! We all know rummaging around for loose change and bills will not suffice last minute when booking an abroad trip. So organizing a spreadsheet of some sort, making lists, and takin’ names will be an effective starting point for guidance and comfort with your future international endeavors. Organization and spreadsheets will forever be your best friend after your trip. Synthesizing this financial plan will guarantee low levels of stress. It will get you in-country and help keep your head above water while there. Also, remember – be money smart when you are there. It can be tempting to purchase all these items and eat at all these foreign restaurants, but you should decide your needs versus your wants. Besides that, after successfully “spreadsheet-ing,” prepare yourself for the experience of a lifetime.

Money can be a vile barrier, but it doesn’t have to be. If you follow a well sketched-out plan, you will be just fine. All of the weighty feelings you may get when allocating the necessities is worth the final destination. You will get to gain a worldly perspective and embrace a different side of yourself. Be alert. Budget and travel smart.

Article was written by Rebekah Mamola

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