Financing Study Abroad
If you think studying abroad is impossible because it is too expensive, think again! Some programs even cost less than staying at the UI. You can also use your UI financial aid and scholarships toward your UI study abroad experience. On top of that, there are many scholarships available just for studying abroad. Check out the information here to see how studying abroad is possible for everyone.
When choosing a program, cost may be an important factor for you. You must first decide how much you are able to spend to study abroad and look at how much financial aid or scholarships you usually receive. If you find that a program you are considering is too expensive then you can look at other programs in less expensive countries or cities, programs with less support options, or you may decide to choose a shorter program.
A good starting point to determine what you can and cannot afford is to look at the University of Idaho estimated costs of attendance including tuition and fees, room and meals (board), books and supplies, transportation, miscellaneous and personal expenses (including health insurance). The costs listed here are for one academic year so if you plan to go abroad for a semester, you should split this cost in half to compare your program costs to your UI costs. There are no Study Abroad programs that will match these costs exactly, but this gives you an idea of what you usually spend in a year and you will be better able to decide how much, if any, you would be able to cover beyond these figures.
Students may wish to read the Study Abroad Advising Handbook as an additional resource for study abroad budget planning, as it contains helpful insights regarding creative ways to raise or save money, and contains the budget worksheet below which can be used to determine your estimated study abroad cost of attendance and to compare the costs of different programs.
Here is a link to a currency converter so you can determine costs in US dollars for those expenses program providers or partner universities list in local currency.
Program Fee (check to see what yours includes)
|Meals (how many per week/month?)|
Travel Documents & Immunization
|Train, bus or domestic travel from airport to program site|
|Transportation for personal travel|
|Art or other course supplies|
|Pens, notebooks, etc.|
Room and/or Board (if not included in program fee)
|All meals (or meals not included in program fee)|
|Housing and meals over breaks|
Personal Living Expenses
|Local Transportation (bus pass, subway pass, taxi)|
|Communications (phone card, postage)|
|Optional excursions/field trips/independent travel|
University of Idaho students may apply for most types of financial aid for their study abroad program. In some instances, if the program costs are more than it would normally cost to study at UI, a student may receive additional financial aid. Typically this aid is in the form of loans. Eligibility for additional aid is dependent on a number of factors, including class standing, federal award limits, etc. Students should consult their financial aid advisors early in the program application process to determine if they are eligible to receive additional financial aid.
If students are not eligible for additional aid, they may want to consider applying for loans (referred to as private or alternative loans) through their local banks. Interest and repayment rates vary widely so students should do some comparison-shopping before “signing on the dotted line.” Students should contact UI’s office of Student Financial Aid Services for a list of local banks providing student loans.
Non-University of Idaho students can typically continue receiving financial aid from their home university even though they are studying abroad through a UI program. Students should consult their home university financial aid office early in the study abroad application process to determine if they are eligible to receive aid while studying abroad. If the home university requires UI to sign a consortium agreement for financial aid purposes in order to disburse the aid, this document should be faxed to the UI Study Abroad Office at (208) 885-2859.
If a non-University of Idaho student is eligible for financial aid but their home university will not process it for their UI study abroad program, students can apply for financial aid through the University of Idaho. To request more information about this process, contact email@example.com.
Currently, you may deduct certain educational expenses (tuition, books, etc.) when you file your taxes. We recommend that you contact your local tax consultant to determine the appropriate paperwork.