Planning a study abroad trip, but unsure of how you will pay for it? Don’t worry, we’ve compiled a wealth of information to help you get started in our newest e-report, “AmeriSpan Tips: Financing Study Abroad.” To download, click here.
Planning is extremely important to the success of your goal of financing a study abroad trip. Step one is to make a budget. You might already have a daily, weekly or monthly budget you adhere to now. If so, great! If not, then you’re going to want to develop a budget for your time overseas. Obviously, because you don’t know exactly how much everything is going to cost, you’re going to have to estimate.
Take into consideration all of the expenses on the list you’ve created. That should help you first determine approximately how much money you’ll need for your time abroad. The company or school you are working with can help here—they will likely be able to give you a rough estimate of how much you will spend. Also, if you do not adhere to a budget right now, you might want to start! You can begin saving money so that you will have more to spend while on your trip. Think about this—that $8 cappuccino might look great right now, but wouldn’t you rather be able to get one while you are in Rome? Those new boots are fantastic, but wouldn’t like to have some money to spend at, say, a Prada sample sale? That bagel is nice, but won’t you want a croissant in Paris?
For students, step two is to talk to your parents or guardian about your plan. If you want to impress them and show them how adult and prepared you are, make a mini-presentation. Show them that you have done your research, and that this is something you really want to do. Point out how this will look great on applications and at interviews when you graduate, and that you will be getting credit for school. You might be surprised at how supportive they could be. If they can help you pay for your trip, that’s wonderful. But even if that’s not in their budget right now, you can likely get them to help you brainstorm ways to get money together. They can also help you out if they do any traveling. Get their advice–who knows you better than they do? They’ll be able to tell you what you will like, what you will hate, whether staying in a youth hostel will drive you crazy (if you’re their little princess, they might know this)–they can also possibly lend you some luggage and packing tips!
To continue reading this e-report, download it from our website here. It includes information on financial aid, grants, loans, scholarships, fundraising tips and ideas, and even information on transfering credit, using the G.I. Bill and Americorps.
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