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Unlocking Your Global Journey: A Guide to Funding Study Abroad

Study Abroad for International Students
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Written by Robyn MacAlpineon May 29th, 2025

Robyn MacAlpine has spent most of her professional career in higher education. She began her career at Northeastern University working in the Student Financial Services office. At Northeastern, she worked as a financial aid counselor, helping with athletic scholarship coordination and merit scholarship appeal review. She most recently served as a financial aid counselor at Curry College, where she was the Pell grant and veteran services coordinator. In both positions, she provided financial aid counseling for undergraduate students, reviewed student files, processed need-based appeals, and oversaw Pell grant reconciliation and veteran tuition benefits received from the Veterans Admininstration. Robyn holds a B.A. in sociology and anthropology from Fairfield University and an M.A. in education from Northeastern University.

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Studying abroad is one of the most fulfilling experiences many students have in college. It is typically done during junior year and can often be funded through financial aid or scholarships, especially if the program is offered by the student’s home institution. If enrolled full-time and paying tuition and fees, students can typically use federal financial aid, state aid, and institutional gift assistance (such as grants and scholarships) to cover study abroad. Below are some key considerations for students looking to study abroad. Programs run by the student’s home institution: Many institutions offer both short-term and long-term programs for students such as a faculty-led trip, a reciprocal exchange at another institution, or a direct enrollment program at a different host university.
  • Eligible for: Federal aid, state aid, and gift aid (grants/scholarships)
  • Billing: Paid directly to the home institution
  • 529 Plans: Can be used if the program earns college credit
  • Housing: May be included in the tuition/fees
External programs: For programs not run by the college, students must pursue establishing a consortium agreement between their home institution and the host school, if one doesn’t already exist. Organizations in consortium contracts pool resources and therefore can offer more program choices for students. This agreement allows credits to transfer and enables students to use federal and state aid—but not institutional gift aid—at the host institution.
  • Eligible for: Federal and state aid
  • Billing: Paid directly to the external institution
  • 529 Plans: Can be used if the program earns college credit
  • Housing: Payments are typically made directly to the program provider or arranged independently.
Special programs: Some study abroad programs, like N.U.in, which is a first-year or first-semester abroad experience at Northeastern University, classify students as pre-matriculated, meaning they are not eligible for any financial aid—federal, state, or institutional. In these situations, students must seek alternative funding sources such as personal savings, credit cards, or private loans (though some programs may restrict access to private loans as well). It’s crucial to evaluate your financial situation and ensure the program is a good fit. Fortunately, there are many other first-year study abroad options beyond N.U.in that consider the student matriculated, including offerings at American University, Syracuse, and New York University.
  • Eligible for: N/A; can use personal loans, credit cards, or savings
  • Billing: Paid directly to home institution
  • 529 Plans: Not usable unless the program earns credit
  • Housing: Included in cost. Payments are made directly to the home institution.
Reminders and Tips
  • Confirm whether the program earns college credit.
  • Consider housing costs for the chosen program. Use a cost-of-living calculator, such as those at Bankrate or NerdWallet to build your study abroad budget.
  • Plan for out-of-pocket costs, such as personal expenses, local transportation, and emergencies
  • Keep in mind that 529 college savings plan funds can only be used for qualified educational expenses, primarily tuition for credit-earning courses. Travel and transportation costs are not covered, so it is always important to factor this into your planning.
  • Understand the billing and payment process for the program. Will the bill come directly to the student or the school? What are the timelines for payment prior to the start of the program? Are installment plans allowed?
  • Explore alternative funding like short-term educational loans or scholarships specific to study abroad.
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