High Financial Need
Economically disadvantaged students often face unique challenges in comparison to
students with no economic concerns. These students may wonder how they will afford
their tuition, rent, food, other bills, and more. Often, these students work part-
or full-time while attending university courses. Not to mention, they are also trying
to balance their social lives and university experiences. With many obstacles, study
abroad opportunities may seem far-fetched to these students. As such, financial need
is one of the most common reasons students abstain from studying abroad. However,
with a mix of financial aid and available scholarships, study abroad can be attainable
to students in any socioeconomic environment. In fact, depending on tuition status,
it often can be cheaper to study abroad to earn the same credits than to do so at
their home institutions. Many students are unaware of the various opportunities provided,
so this informational page serves as a concentrated outlet for students with high
financial need.
Questions to consider with an Advisor/by yourself:
Budgeting & Payments
- When are my bills due?
- Are there alternative payment options for my program?
- What are the estimated living costs for my program?
- What is the exchange rate and cost of living difference in my host country compared
to home?
- If I’m receiving funds from back home, how can I access them?
Financial Aid & Scholarships
- What is the financial aid process for my home university and my program?
- Am I eligible for additional aid through my program, home university, or department?
- Does my program offer early application deals, such as flight vouchers?
- What scholarship opportunities does the Study Abroad office have?
- What other resources can I use to afford my program? Fundraising? Crowdfunding?
Program Selection
- Does my program offer a reduced course load at to lower my tuition costs?
- Will the length of the program affect the cost? Can I go for a shorter amount of time?
- What is the estimated cost of my books and school supplies?
- What is the estimated cost of living in my host country in comparison to my budget
at home?
- Is there economic housing available through my program?
- Can I supplement my payments with working in my host country? Will I need additional
paperwork to do so legally?
Travel
- Do I have the option to book a flight with a delayed payment plan?
- Does my program provider offer flight vouchers?
- When is the best time for me to book?
- Are some airlines more expensive than others?
Scholarships:
- Benjamin A. Gilman International Scholarship: The U.S. Department of State’s Benjamin A. Gilman International Scholarship is a
grant program that enables students of limited financial means to study or intern
abroad, thereby gaining skills critical to our national security and economic prosperity.
- Diversity Abroad Scholarships: Scholarships for students accepted to a study abroad program offered by a Diversity
Abroad member organization, including economically disadvantaged students.
- Freeman-ASIA Scholarship: For U.S. undergraduate students with demonstrated financial need planning to study
in East or Southeast Asia for academic credit.
- Fund for Education Abroad: FEA awards up to $10,000 for students who plan to study abroad. FEA gives preference
to students with high financial need, first-generation college students, and minority
students.
Resources:
- Diversity Abroad Blog: This page has resources for underrepresented students to get started with scholarships
and major funding sources.
- GoAbroad Savings Blog: Before you apply for your dream study abroad program, consider these important factors
and skills so you can have the best possible experience without breaking the bank.
- ISEP Financial Information Page: Use this page to budget for study abroad, planning finances, and more.
