Steps to Funding Study Abroad
Affordability is an important factor when selecting an education abroad program. The programs offered through Penn State Education Abroad vary in cost, depending on the features of the program, geographic location, length, inclusions in the program such as excursions and cultural activities, and the level of on-site support. When researching a program that is both academically appropriate and budget friendly, there are many considerations to take into account.
Penn State Education Abroad has put together an informative webinar that discusses several key financial factors related study abroad. All students interested in study abroad are encouraged to listen to this short webinar to help understand the costs associated with studying abroad and resources available to help fund study abroad. After listening to the webinar, you can explore scholarships and other funding resources.
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.
The cost of studying abroad can be a deterrent for some students from pursuing an experience overseas, but it doesn't have to be. Affordability is an important factor when selecting an education abroad program. The programs offered through Education Abroad vary in cost, depending on the features of the program, geographic location, length, inclusions in the program such as excursions and cultural activities, and the level of on-site support. It is possible to find a program that will work in just about any budget by considering a variety of factors when researching programs. To help find an affordable program in a region of your choice, Penn State Education Abroad has put together a list of the programs that are the most cost effective by region.