Finding money to study abroad
According to the Institute of International Education, the number one reason students don’t study abroad is due to the cost. Many students see the initial costs and automatically classify studying abroad as cost prohibitive, but there are financial and other resources that you can utilize to make your study abroad experience happen while minimizing its long-term financial impact.
Many academic institutions are becoming keener on emphasizing the development of international experience and a global mindset within their student bases. In order to encourage this, many institutions offer scholarships specifically for studying abroad that their students can take advantage of.
Aside from the scholarships offered by your academic institution, there are general international scholarships offered by a number of foundations and organizations. A seminar abroad with IBS is an investment in your education and professional career and it is important to start thinking about your financial planning strategy early.
We also recommend financial planning outside of scholarships. We’ve had past participants successfully finance their study abroad experience by:
- Crowd funding using platforms such as FundMyTravel or GoFundMe
- Donations from local communities such a religious, social or professional groups
- Support or private loans from local banks
- Fundraising; not limited to product sales, car washes and tutoring
- Requesting financial assistance from employers for the seminar
- Financial Aid; speak with your Financial Aid Office on campus to understand all your options
- Payment plans by request through IBS
- Use of IBS Alumni $500 scholarship
- Smartphone apps like Scholarship Grab or Scholly can help you earn and view scholarships.
Contact IBS for financial planning and support, and review what’s included on your seminar. Below are more scholarship resources and suggestions to help you get started!
Create an account with FastWeb and get matched to scholarships that best suit your needs.
The GoodCall scholarship engine, which is a 100% free and open-access platform that allows you to search for available scholarship opportunities around the world. There is a never a cost to use the service and you can search its entire database of scholarship opportunities without supplying any personally identifiable information. This is what sets it apart from other scholarship search engines, that collect and sell your email addresses, phone numbers and other personal information.
The $2,000 “No Essay” Scholarship is an easy scholarship with no essay required! The scholarship can be used to cover tuition, housing, books, or any education-related expenses. The monthly winner will be determined by random drawing and then contacted directly and announced in Niche’s e-newsletter and on the Scholarship Winners page. You can apply once each month, with a new winner selected every month.Deadline is March 1, 2017!
At AllTheRooms, we are passionate about travel. In fact, we are travel fiends. We understand the benefits of travel and we find it an important supplement to any education. But not everyone has the means or opportunity to travel, that’s why we’re giving financial aid to anyone seeking to study abroad through their university. To be eligible, submit a 600-800 word essay on what inspires you to travel. We will announce a winner prior to the start of 2017 Fall Semester. Applications are due on August 1st, 2017!
1,000 words could earn you $1,000! Eligible students should submit a 1,000 word essay to firstname.lastname@example.org describing why travel is important to him or her. Essays will be judged based on the following criteria: content, style and creativity. One essay per entrant only. Please include your name, college or university at which you are enrolled full time, mailing and email address, and documentation of current or upcoming enrollment in a study abroad program. Deadline is August 15, 2017!
These grants are designed to help support undergraduates as they seek knowledge and experience in their academic fields by studying abroad. 75 $1,000 grants are awarded each year. You must attend an undergraduate institution with an active Phi Kappa Phi chapter.
Additional resources for finding money to study abroad
- www.affordablecolleges.com/resources/financial-aid-online-students/ – (best for online students attending certain universities)