Making Study Abroad Work Financially

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To some, this may be a taboo topic. However, I wish I would have had this article before I started down the path of studying abroad because I definitely learned a lot the hard way. I’m hopeful that this helps a lot of people for years to come!

Scholarships

You’ll want to start with your school/university. Chances are they offer a small study abroad scholarship that you can easily apply to through your school. I attended the University of Kentucky and they offer $1,500 to anyone that writes a half decent essay ha! I was also able to petition to get my regular scholarship amount just sent to my study abroad program – so definitely ask about that if you get any of money you get for the “regular” semesters.

Another avenue is the program itself. Apply to anything you could possibly qualify for and apply quickly. Often, especially with Semester at Sea, they award as they receive applications, stopping when the money is gone. I did receive rejections to most of the scholarships and that definitely stung. However, I was damned and determined, so I gave it a week so I wasn’t as mad and then emailed the scholarship people to let them know that I would be willing to take any student jobs available if someone happened remove themselves from the program. This was a long shot but it worked and saved me $4,000!

3rd avenue here is the online scholarship portals. These are so hit or miss and did not work for me. However, they are certainly worth a shot and worked for my best friend, Erin. Some we used were scholarships.com and scholarshipsuniverse.com.

Program Incentives

I don’t have the expertise to answer on other programs but SAS had all kinds of funky incentives. The application fee was cheaper the earlier you applied, registering for field programs within a certain month gave you a better price, putting your deposit down early meant a credit to the snack bar, etc.. Obviously, if you are unsure of your decision, don’t rush it. I was damn sure this was what I wanted to do so I was jumping on any incentive possible because I was so sure.

Work

I knew that I wanted to be able to say yes to as many things as possible while abroad. I also knew I didn’t want credit card debt, to have to call home for money, or even skimp on food/gifts for back home in order to make other things work. This meant saving every penny possible. I told myself I could eat out once a week at school, no more, and that I needed to ensure I found consistent, well paying work. My voyage was in the spring so that spring prior when I applied was when I really kicked my booty into gear. I applied to internships constantly, landing one that was great for my resume and my wallet. I even planned my classes to ensure I could work as much as possible just to build my savings.

That summer, I had two jobs and lived at home. This is obviously not an option for everyone, but I was so determined to ensure I had a great nest egg before I left. That fall, I went back to that internship, working lots of hours. This work ethic was crazy I admit but I felt great about my savings and had really built up my references pool for the future.

Family/Friends

Semester at Sea recommends flat out asking family members for money. I did not feel comfortable doing that at all, so I approached this in an entirely different way. First, I had a 529 that I had saved for this semester, so that was incredibly helpful. Second, I was able to ask all kinds of friends and family for travel advice, credit card tips, and even to borrow cruise-friendly items (like collapsible hangers). This was honestly so valuable because I felt so much more prepared and had so many people checking in on me throughout the lead up to leaving.

Third, I filled my Christmas list with the items I would need to purchase. You will see people on TikTok buying thousands of dollars of stuff they don’t really need. I made a list of essentials (European plug adapter, a travel backpack, a long skirt for temples, a good portable charger, etc.).

Once You’re There

My two main tips here are to choose your friends wisely and stay in a budget mindset. First, the friends. On the ship, you should become friends with absolutely as many people as possible. Eat dinner with all kinds of people, learn about the corners of the world they live in, and grow as a human from the variety of people represented on the ship. However, when it comes to getting off the ship, be picky and don’t be afraid to hurt feelings. You’ll want to come up with your priority for the country and be open to others’. Then, you want to evaluate who would also want to do what you do or has suggestions for things you find interesting. It’s also so important to over-communicate about your budget. Some people are going to have unlimited money and that’s awesome, but you want to make sure you are doing what makes you and your wallet happy. Second is the budget mindset. In country, maybe don’t be drinking, shopping, or Ubering all the time. These get expensive FAST. On the ship, the food is going to get old fast, but you have to stay strong on the grill orders. Some people were draining money on fancy coffees or burgers or even snacks and then were so stressed when they got the monthly bill. Just be aware of what you spend!

Well that’s all for me today! Hope you found this helpful and see you soon!