Ways to Fund Study Abroad

Seek Out Scholarships and Other Forms of Financial Aid

Study abroad scholarships are available to individuals who want to attend a university in another country, and there are several sources for this helpful funding, so it’s worth applying to as many as you can.

Your university’s study abroad office or the study abroad program itself might have some scholarships available, so check in with them as a first place to start.

A few of the many scholarships that could help with paying for study abroad include:

• Council on International Educational Exchange Scholarship

• Council of American Overseas Research Centers Scholarship

• Academic Programs International Scholarships

• Benjamin A. Gilman International Scholarship Program

• Institute for Study Abroad Scholarships

• Boren Awards for International Study Scholarships

Try Out Different Fundraising Methods

When scholarships and other financial aid are not available, you can get creative and host fundraising events in order to raise the funds yourself.

The great thing about fundraising is that there are a lot of different ways to go about doing it. A few ways that you can fundraise include:

• Host a fundraising party, much like a benefit event or going away party, to raise money in an entertaining way.

• Ask your friends and family to contribute money, airline miles, supplies, and anything else that can help reduce the costs of getting to your destination and settling in.

• Set up a crowdfunding campaign online and share the link via social media.

• Go through your belongings and sell any items that you no longer need by putting them up for sale online or hosting a yard sale.

• Sell your own creations or services, such as arts and crafts, online to the public.

• Teach a class in an area that you’re skilled in, such as painting or music, and charge a fee to students who attend.

Work From Remote

Working a part-time job while going to school can help you get the money you need to pay your way through the program of your choice. It can be difficult, however, to find employment abroad, especially if you aren’t fluent in the local language or you don’t yet have a solid network there.

An alternative to finding employment in person is to find employment online. For example, you can start searching for work as a freelancer in a field that you are skilled in, whether that’s graphic design, web design, writing and editing, or even accounting. With a few steady clients, you can work from remote, no matter where you are in the world, and make the money you need to make ends meet. The money you earn could help pay for daily expenses, like food and entertainment, as well as education related expenses like school fees, supplies, and books.

Enroll in Affordable Schools and Pay Your Fees with OFX

There are myriad locations around the globe where you can study abroad affordably. Some countries in Europe, for example, offer tuition-free education while only charging students low fees each semester. And many countries also offer a lower cost of living, so you can make your savings stretch further there than you would at home. Focusing on the top universities in more affordable areas will help reduce the stress that inevitably comes with funding your study abroad aspirations.

Another way to save money is by using an online transfer service like OFX when you are ready to pay your tuition, fees, and other expenses, such as rent. All transfers are rapid and secure, and you will be able to avoid the high margins and fees that banks would charge for the same transfers.

To discover more about attending school overseas on the undergraduate and graduate levels, check out our guide to studying abroad.