Financing your Study Abroad trip
It is difficult to predict the actual cost of studying abroad as costs vary by country. For example, the cost of living will be higher in Western Europe than in China. Moreover, different locations within the same country may lead to different expenses: expect to spend more if you are living in a major urban centre than if you are living in a rural community.
Some programs will be more expensive than others, depending on added features, such as support services, tours, etc. Some institutions may charge higher fees for textbooks, accommodation, and meal plans. Any additional traveling you may wish to do will also increase your total costs.
In addition to asking your Study Abroad coordinator and past participants for information, you can conduct some research yourself on the internet. Be sure to look into student discounts and any special rates that may be available.
What exactly do I pay for?
You are not required to pay application fees or tuition to your host institution, but are responsible to pay for:
- UFV tuition (12 credits of UFV tuition for each semester abroad)
- Extended medical insurance
- Visa applications
- Passport renewal
- Living expenses
Can I use financial aid?
Yes you can: if you register for three courses as a full-time student, paying UFV tuition allows you to maintain interest-free status on your student loans.
For guidelines and current information, visit the BC Student Loan Service Bureau or phone the BC Student Services Branch at 1-800-561-1818. You can also visit UFV’s Financial Aid office in Building B, room 214.
Sources of funding
You may need to do some fundraising and saving before your Study Abroad experience. Use the budget worksheet found in the Study Abroad Handbook to determine potential sources of income.
Here are some sources of funding you may find helpful:
- Personal: job, parents, relatives, friends, bank, etc.
- School: student associations, Alumni association, Faculty Deans, on-campus student groups and clubs, etc.
- Community: charitable clubs, local businesses, churches, banks, media (i.e. local media, or voluntary groups like the Rotary Foundation International).
- Businesses: local and national corporations that may do business with the country you are visiting or are part of your community (i.e. Chambers of Commerce).
- Charitable organizations: refer to the Canadian Directory to Foundations and Grants for a list of requirements.
- Study Abroad scholarships like One World Scholarships