Saving for Study Abroad

Although there are plenty of ways to pay for studying abroad through scholarships, grants, and financial aid, it is also possible to pay for your study abroad program by saving up.

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Although there are plenty of ways to pay for studying abroad through scholarships, grants, and financial aid, it is also possible to pay for your study abroad program by saving up. It is important to save money before you go because studying abroad with insufficient funds can limit your opportunities to travel, explore, and enjoy all that your host country has to offer. Some students believe they can find employment in their host country. However in most foreign countries, international students are not allowed to work. In order to ensure you have the financial means needed during your time abroad consider the following tips:


Plan Ahead
It is important to plan ahead before studying abroad. Although your date of departure might seem far off, you will be in your host country before you know it. To ensure that you will have the money needed to go abroad, create a budget pertaining to the amount of money you will need during your study abroad. Take time to write down all the expenses that will not be covered by your program. This may include not only your daily living expense, but also other things you would like to do, such as taking trips or going out with friends. If you have difficulty putting together a budget, ask for assistance. Often your study abroad advisor can put you in touch with others at your school who have studied in your country of interest. Use the Diversity Abroad Community Forum to contact others who have traveled to where you want to go. They will be able to tell you in more detail about the expenses of living in your country of interest.

Get a Part Time Jobs, or Job on Campus:
Working part time while you're in school is an excellent way to earn money for your travels. Often, summer jobs or work study positions on campus will provide enough flexibility so that working will not interrupt your studies. However, if you can take on extra hours at work; another fifty dollars for a shift can go a long way toward day-to-day expenses. You can also find a way to earn some extra money by taking on side jobs from your professors or tutor other students. Once you have found employment, take whatever extra money you can from your paycheck and put it in a savings account specifically for your stay abroad.

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