5 Ways to Pay for Study Abroad
by Jenn Weisgerber, CISabroad Scholarship Team
Saving money can be the worst! Especially when it’s a big-ticket item, because it just takes so dang long to reach that large milestone. Figuring out how to pay for study abroad can definitely feel overwhelming, but don’t worry! We’re here with 5 ways to pay for your study abroad experience that will get you saving in no time.
1. Make the most of your financial aid and scholarships.
The earlier you start planning in this area, the better. In most cases, your financial aid can be used to pay for your program costs. We believe that study and intern abroad opportunities are for EVERYONE, so we work hard to stay one of the most affordable providers out there – without sacrificing the experiences abroad we know you want. CISabroad offers eight different scholarships multiple times a year. To make the most of scholarships, though, cast a wider net – earn a Gilman Scholarship and you qualify for a CISabroad Gilman Grant!
2. Get high-tech with your saving tactics.
Find it really challenging to save cold, hard cash to pay for study abroad? Save a few pennies at a time with an app that rounds up routine bank transactions to a threshold you set and holds the money in a separate account until you’re ready for it. There are quite a few new apps out there that can help you save – check out Qapital, Unsplurge, or Digit. Also check out this list of powerful money-saving apps from NerdWallet.
3. Hold the biggest tag sale ever.
Roll up your sleeves over the summer and ask your family and friends if they’d be willing to donate their finest vintage finds and in-demand collectibles — or whatever is taking up space in their basement! You’d be surprised at how much cash a well-publicized tag sale (or rummage sale, depending on where you live) can bring in to help you pay for study abroad, especially if you schedule it during a weekend with popular events in your community. List it online, in the newspaper (yes, that old thing!), and flier around town responsibly.
4. Look to your networks for support.
Yes, we’re talking about crowdfunding, but you can do it in a way that doesn’t come off entitled or makes you go on Shark Tank. How? Don’t blast it all over social media (well, maybe around your birthday), but instead email links individually to friends and family, asking them to contribute to your time abroad in lieu of birthday or other presents throughout the year. Show the return on their investment – send them links to the CISabroad program you’re interested in and let them know how this opportunity fits into your life goals. Although you’ll definitely make memories to last a lifetime, it’s more than just a fun summer – you’ll now be a part of the 10% of U.S. college students who study abroad.
5. Roll up those sleeves – and tighten that wallet.
These two may not be the answers at the top of your list, but it’s important to be invested in your own life – literally. Look for a part-time job (or second one) during holiday break, spring break, or the summer that will allow you to stash away even more money. And the hardest part? Changing your behavior in order to save – but it feels good to look out for your future self. Bypassing that venti latte every day or that weekly night out with friends can translate into an extended stay abroad, experiential add-ons like our Explore Europe weekends, and if you’re anything like us, even more delicious food while you’re abroad!
Finally, remember that every penny counts – literally. Combine a few different fundraising tactics, and before you know it, you’ll see that savings account rise. Not only will your time abroad be a transformative experience, you’ll feel proud that you contributed so much to getting yourself there.
Still worried about if you can pay for study abroad or an internship abroad? Trust us, it’s totally within your reach. Any of our CISabroad advisors (Chris, Pat, Anna or Joe) would love to talk to you about affordable options that work for your major, as well as share more pro tips. Reach them via email, chat, or go old-school with the phone at 1-877-617-9090.
Not ready to talk yet? Watch these tips on Traveling on a Budget from CISabroad alumni Debra Castro, who interned abroad in Barcelona, Spain.
DID YOU KNOW? Use the code EARLYSUMMER on your program application by Feb. 1 and save $100 on ANY CISabroad Summer 2018 program. #smartsaver