Financing Study Abroad in an Uncertain Economy
Encouraging your student to study abroad may seem unfeasible during these difficult economic times. But consider this: depending upon your student’s residency status and financial-aid package, in some cases, it is less expensive to study abroad than to be on campus for a semester.
Students may use almost all of their financial aid to finance studying abroad. Students may also apply for scholarships through International Academic Programs (IAP), which awarded more than $500,000 in scholarships for the 2008–09 academic year. National study-abroad scholarships also can help to cover up to the entire cost of studying abroad.
Matt Geisler, student services coordinator for the UW’s Division of International Studies, addresses some of the myths related to the study-abroad experience.
Myth 1: Studying abroad is more expensive than a semester or year at UW–Madison.
The costs to attend the UW — including tuition and fees, room and board, books and supplies, and miscellaneous expenses — for the 2009–10 academic year are $20,283 (for residents), $22,108 (for Minnesota residents), and $35,033 (for non-residents). Most studyabroad programs are either less expensive or comparable to these costs.
For Wisconsin and Minnesota residents, exchange programs tend to be the least expensive programs because program fees are based on tuition costs. In an exchange program, UW students directly enroll at the host university and students from the host university come to UW–Madison to study, which keeps the costs of the program low. Students can choose from exchange or direct-enrollment programs that are comparable in cost in Chile, China, Denmark, England, France, Germany, Greece, Ireland, Israel, Italy, Japan, Netherlands, Norway, Peru, South Africa, South Korea, Spain, Sweden, and Taiwan.
For non-resident students, consortium or provider programs tend to be less expensive than on-campus attendance. Multiple schools (often from within the Big Ten) share the costs of consortium programs. Provider programs are often a hybrid; students take some courses with other U.S. students, but often also take courses at a local host institution. Students can choose among programs in a wide variety of countries throughout Africa, Asia, Australia, Europe, and Latin America.
“At first glance, a semester in Southeast Asia seemed well beyond my means, but through a combination of UW and national scholarships and loans, I was able to get the whole program paid for,” says Erin, a student who studied in Vietnam for a semester. “My advice for anyone considering a study-abroad program is, ‘Don’t limit yourself! Apply for many scholarships.’ There is a lot of support out there for motivated students who normally rely on full financial-aid funding.”
For program cost sheets, visit the International Academic Programs Web site.
Myth 2: Students can’t use financial aid or campus scholarships for study abroad, and scholarships aren’t available for studying abroad.
Students who study abroad on UW–Madison-sponsored programs for a semester, a year, or during winter break may use all but work-study funds received through the Free Application for Federal Student Aid (FAFSA). While work-study funds can’t be applied, a student may decline work-study for the term that he or she is abroad. Students should meet with an IAP financial advisor for more information. (See “Next Steps” for information on scheduling an appointment.)
For study abroad, students must complete the FAFSA. After a student confirms plans to study abroad, each study-abroad office reports total costs to the UW’s Office of Student Financial Aid, and financial-aid packages are reviewed based on the specific costs. If eligible, increased study-abroad costs may be covered by an increased award. Students who have UW–Madison scholarships can, in most cases, use those funds for study abroad. Students should contact their scholarship administrators for more information.
Students can also apply for merit and need-based scholarships when they complete their IAP online application to study abroad. These awards vary from $500 to $2,000, depending on program length. Also, many national scholarship competitions are available for study abroad. Students who have a Pell Grant as part of their financial-aid packages are eligible for the Benjamin A. Gilman scholarship, which awards up to $5,000 for semester and yearlong programs. Students who are interested in the U.S. Foreign Service and critical languages may apply for the David L. Boren undergraduate scholarship competition, also known as the National Security Education Program (NSEP). NSEP awards up to $10,000 for a semester and up to $20,000 for a year, although students must apply more than a year in advance and agree to work for the U.S. government for one year.
For more information on financial aid and studyabroad scholarships, visit the International Academic Programs Web site.
Myth 3: Studying abroad delays graduation,
making a student’s education more expensive.
Students are able to study abroad while staying
on track for graduation — even with multiple majors.
Students should work with their academic and studyabroad
advisors as early as possible to determine how
to complete credits on campus or abroad. Students earn
UW–Madison academic credit for their time abroad that
can count toward both general education requirements
and degree requirements. In some cases, especially with
intensive language programs, studying abroad may
position students ahead in their majors. Students can
even graduate abroad, as study-abroad programs are
considered in-residence credit. Students can earn 12 to
18 credits for a semester program, and 3 to 12 credits
for winter break and summer programs.
Studying abroad also adds value to the undergraduate experience, setting students apart as they enter the working world. According to the American Council on Education, 86 percent of companies recently reported a need for managers and employees with greater international knowledge.
“While studying in Mexico, I had the opportunity to speak Spanish every day and be immersed in the language,” says a UW student who studied in Oaxaca, Mexico. “In just a mere eight weeks, I came back with more confidence in my language abilities and increased fluency. Volunteering in a bilingual elementary school helped me further my career plans, and because of this program, I have decided to become a Spanish teacher.”
Next steps
Encourage your student to seek out more information
about study abroad. Visiting the International Academic Programs Web site is a good place
to start. Students can also
visit the Resource Center in 250 Bascom Hall to set up
an appointment with a financial advisor or to talk with a
peer advisor (a returned study-abroad student). The center
is open Monday through Friday, 8 a.m. to 4:30 p.m.
Peer advisors can be reached via e-mail at peeradvisor@bascom.wisc.edu or via phone at 608-265-6329.