Budgeting and Planning Worksheet
Studying abroad requires very careful budgeting. Before making a budget, check your program information to learn exactly which costs are your responsibility. For example, are field trips included? Do you have to pay extra for housing during the breaks? Are meals included? Does the cost differ according to the housing you choose? Also, determine which costs are billed by Penn State and which you will pay directly to the host institution. Currency exchange rates can fluctuate sharply. Be aware of the value of the US dollar to the local currency and consider this factor in the budgeting process. Keep in mind that you will likely need more money during the first month to cover initial, one-time expenses (commuting passes, household items, etc.). Be sure to discuss this with your parents if they are helping you pay for this education abroad experience.
Determine Your Education Abroad Budget
As part of the planning process, it is important that you understand what you are comparing when looking at program costs. The following table shows the cost of a typical semester at Penn State compared to a semester abroad. To fill in the comparison worksheet with your study abroad program information you should search for your program, and then open the budget sheet located near the top of the program information page for estimated costs. There are several costs associated with studying abroad that may appear unfamiliar to you. Understanding your study abroad semester bill will help you budget for your education abroad experience.
| Item | Costs During a Typical Semester at Penn State | Costs During an Education Abroad Program |
|---|---|---|
| Penn State Tuition | $9,666 (PA Resident at University Park Campus) | $______ (In-State/Out-of-State) |
| Education Abroad Program Fee | N/A | $______ |
| Student Fee | $267 | N/A |
| Education Abroad Administrative Fee | N/A | $250 |
| Room | $3,185 (Standard Double On-Campus) | $______ |
| Food | $2,600 (Meal Plan On-Campus) | $______ |
| Health Insurance | N/A | $______ |
| Airfare | N/A | $______ |
| Books, Course Materials, Supplies, and Equipment | $920 | $______ |
| Travel and Excursions | N/A | $______ |
| Daily Transport | N/A | $______ |
| Passport and Visa | N/A | $______ |
| Personal Expenses | $2,000 | $______ |
| Miscellaneous | N/A | $______ |
| TOTAL COST | $18,638 | $______ |
