Steps to Funding your Study Abroad
Affordability is an important factor when selecting a study abroad program. The programs offered through Baylor Study 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. The cost of studying abroad can be a deterrent for some students, but it doesn't have to be. Programs have varying cost structures, and it is possible to find a program that will work in just about any budget by considering a variety of factors when researching programs.
Consider Program Term and Location
Study abroad programs have varying cost structures. While short-term programs may seem cheaper, semester programs may provide more value for your money if you consider the per-day cost of going abroad as well as financial aid considerations. During semester programs students usually earn two to three times more credit and the cost is spread over a longer period in the country.
Cost of living varies by location, region, and local currency exchange rates. Many large cities in Western Europe have high costs of living, while large cities in Latin America or Africa offer big-city experiences with lower costs of living. To save money while studying abroad, consider a program in a non-traditional location or in a smaller city.
Review Various Program Types
Baylor Study Abroad offers program types with varying cost structures. Students studying on an exchange or affiliate programs are charged Baylor tuition and administrative fees. All programs with Baylor in their title (most Summer and Winter Study Abroad and a few Semester programs) are charged program fee, Baylor tuition, study abroad fee, administrative fee, and airfare. The program fee may include housing, some meals, on-site support, and other program features (e.g., field trips). Go here to learn more about the different types of study abroad programs.
Research Funding Opportunities
It is never too early to start looking for funds! While you may not be able to begin applying for funding until you’ve chosen a program, the key to receiving financial aid or scholarship money is to know your options. Researching funding opportunities in advance may help you in selecting a program. For example, scholarships like the Gilman Award enables students of limited financial means to study or intern abroad, providing them with skills critical to our national security and economic prosperity. You increase your chances of funding by choosing a program that meets the criteria of a particular award.
Baylor Study Abroad has provided detailed information on our website to help you find additional funds. We are pleased to offer the Glennis McCrary Goodrich Scholarship and the First Abroad Fellows Program through our office. Additional funding sources may be available through other Baylor colleges and departments, the Office of Engaged Learning, and Student Financial Services.
- Compare Currency Exchange Rates
- Plan a Budget Based on Your Lifestyle
- Understand Local Culture and Language
- Travel Regionally
- Look for Student Discounts