There are horror stories circulating around college campuses of students who merely wanted to spend a year abroad and were left with thousands of dollars in debt. Studying abroad does not have to break the bank or add on a ridiculous amount of money to already skyrocketing student loans. There are smart ways to go about affording to study abroad and tips that will help any student live out their international dream.
One of the best ways to study abroad without going into debt is to get ahead of the curve and apply for scholarships. As studying abroad becomes more popular among students, so do the scholarships. It used to be difficult to find a scholarship specifically for students that wanted to go abroad, but now it’s easier than ever. Some universities offer scholarships to students wishing to study there for the year to encourage international students to study abroad. Check out scholarship websites and the website of the host school. Reach out to the admissions office and get information on how the school can help pay some of the costs.
Make a budget of weekly and daily spending. This budget will hold students accountable and force them to keep track of their finances. The budget helps struggling students see how much they are spending in specific areas and where there might be room to cut back. Some students spend too much money on groceries or public transportation, and this can set them back money that could be used for travel.
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