Students on a Budget

One of the largest misconceptions about study abroad is that only students without financial aid can afford it. However, every year students with high, moderate, and low financial need journey across the globe to take advantage of study abroad programs. The key to making study abroad affordable is planning ahead and deciding on a budget that will be most appropriate for you. Miami financial aid covers semester and full year programs run through the Study Abroad Office and a number of scholarships can also be found both through Miami and outside of Miami. The Benjamin A. Gilman scholarship is particularly noteworthy: the Gilman is a grant program that enables students of limited financial means to study or intern abroad. This scholarship is available to U.S. citizen undergraduate students who receive Federal Pell Grant funding. Whether you desire to apply for a summer, semester, or full-year program, planning remains key in budgeting for program expenses and seeking out additional aid.

Think about:

  • How will I budget for study abroad?
  • What expenses can I anticipate to help avoid unexpected costs?
  • Will I travel in my spare time? How will I budget for this?
  • What financial barriers may I run into?

Before You Go:

  • Look at your program’s budget in the Budget Sheet link located towards the top of each program’s brochure on my StudyAbroad.
  • Let your Study Abroad Advisor know that you would like to discuss finances and budgeting during your individual appointment.
  • Create a realistic budget for personal expenses that may not be captured in the program budget.
  • Research scholarships, particularly Scholarships listed on the Study Abroad Office's page..
  • Start putting a little away each paycheck to save.
  • Consider fundraising for your study abroad program.
  • Connect with previous students about how they budgeted for study abroad.
  • Speak to the Office of Financial Aid Services.

Economic Diversity Resources:

Fund for Education Abroad provides scholarship support to students who are underrepresented among the US study abroad population.