The following are recommended steps to take when considering how to best finance a study abroad experience! There are many financial factors and decisions to make when studying abroad. Review the information below to help understand the best choice for you and your access to financial assistance:

1. Choose a program that aligns with your Edgewood College financial aid plan (Understanding Exchange vs. Non-Exchange)

2. Consider program location and provider when making a decision.

3. Always consider Edgewood College sponsored programs (NO APPLICATION FEE).

4. Apply for study abroad scholarships in advance!

5. Consider your current income (i.e. financial aid, study abroad scholarships, on or off campus job, gift money).

6. Research currency conversion for your host country and plan accordingly.

7. Address the unexpected! (Always have emergency funds prepared).

8. Don't forget about everyday expenses that still exist while you are abroad and how you can reduce these while outside the country (i.e. cell phone bill, car insurance and payments).

9. Start Up Funds

   *Even if you are using financial aid to cover your program, financial aid won’t be disbursed until after you have enrolled in classes full-time. At some institutions abroad, class registration can take a couple of weeks, so be prepared to pay for initial expenses out of pocket.

   1. Order host country currency from your bank (cost associated with this)

   2. Have cash available to pay “start-up” costs out of pocket such as housing deposit, first month’s rent, orientation fees, groceries and toiletries/ household items.

10. Review the general STUDY ABROAD BUDGET TEMPLATE to gage your financial status.

As you are learning how to budget your abroad experience, examples of budget sheets are made available for all study abroad terms including semester, academic year, summer and faculty-led programs. These draft budget sheets will help assist you with your calculations to have a better idea of the overall costs to study abroad based on the term and program you have chosen.

Costs vary depending on program type and length. Besides the faculty-led programs sponsored by Edgewood, there will also be external costs that are not included in the program packages that you need to consider such as flight costs, visa fees and personal expenses.

Depending on your financial situation, some study abroad programs will be more affordable than others. Below are examples of affordable programs. *This is not a complete list of our programs, but a starting place to finding the best program for you!

AFFORDABLE EDGEWOOD PROGRAMS AND PROVIDERS

• Edgewood Masaryk University Exchange Program - Budget Sheet
• Irish-American Scholar Program - Budget Sheet
• Karlsruhe University of Applied Sciences Exchange Program – Budget Sheet
• Faculty-led Programs (varying destinations 2-5 weeks)
• ISEP Exchange - ISEP Budget Calculator - Pay Edgewood tuition, room and board. Can use all EC & Federal Aid!

AFFORDABLE NON-EDGEWOOD PROGRAMS

• Liverpool Hope University - Budget Sheet
• ISA (International Studies Abroad) - Using the Program Search you can click to review specifically Affordable Programs.
• API - Using the Price Breakdown tab you can click to review specific costs of programs. 
           Additional Financing Resource: API Programs Under 13K

RESOURCES

1. Cheap Flight Providers:

   1. Wizz Air, Ryanair (Europe specific), Skyscanner.com, Momondo.com, Orbitz.com, Google.com/flight, and in-country airline websites (wait until you arrive for best rates).

2. Student Travel Agency (STA):

   1. Airfare Deposit Program: This program is available to students, teachers and anyone under 26. $299 deposit saves your seat regardless of the actual ticket price. Pay the remaining amount of your ticket until 7 days before your flight! Call 800-781-4040 for more information or go to the STA Travel website.

3. Passport and Visa Information

4. Personal Expenses:

   1. International Cost of Living Calculator:

      http://www.numbeo.com/cost-of-living
      https://studentcalculator.org/

   2. Exchange Rates

5. Accommodations:

   1. Airbnb: Cheap accommodations anywhere in the world. Download the app!

   2. Hostel World: Database for hostels around the world.

   3. Hoteltonight.com

   4. Couchsurfing: Free accommodation option. Make sure to read reviews!

6. Travel Guide and Resources:

   1. TripAdvisor: Great way to get advice on destinations and best travel practices from experienced travelers.

   2. Lonely Planet: Travel guide books. Now available in eBooks! Backpackers guide to cheap accommodations and unique places to go based on city and region.

   3. Facebook Messenger: Ability to make free calls internationally.

   4. Apps: Rick Steves (FREE) Audio Tours, Google Maps (NOW OFFLINE! No internet connection needed), Google Goggles-Offline Translator based on images, Various language apps (DULINGO), Flight Stats—To track your flights, Ulmon Pro—City Maps (Offline), Spotted By Locals.