Planning & Budgeting
Financial planning is an important component of preparing for an education abroad experience. Follow these steps to get started:
Compare Costs at UVA and Abroad
With careful research, you can find an education abroad program that fits your budget:
- Use the Cost Comparison Worksheet to identify and compare the costs
- On Grounds UVA cost of attendance is published by Student Financial Services
- UVA program costs are published on the budget sheet of the program brochure
- Outside program costs can be found on the program’s website.
- Exchange programs charge regular UVA tuition and mandatory fees; use the host institution's materials for other expenses
- Understand what is and is not included it your program's fees. Collect estimates for expenses that are not included. Also consider your own spending habits, exchange rates, etc. as they impact the actual amount you spend on Grounds and abroad.
Review Existing Resources
Make a list of the financial resources you currently use. This could include (but may not be limited to):
- Financial Aid and Loans
- Non-UVA Scholarships
- Pre-Paid Education Tuition Plan (such as the Virginia 529)
- Family and Personal Resources
Confirm & Revise Resources
Many existing financial resources continue to be available for education abroad. Confirm which of your resources are "portable" and how to use them. For example:
- Consult the Financial Aid Availability chart regarding the portability of your current financial aid and loans, and follow the instructions to have your financial aid revised (this is required to use aid).
- Contact scholarship providers to confirm whether funds can be used and how.
- Pre-paid education tuition plan accounts, such as Virginia529, may be used for education abroad, but limitations do exist. Contact the account administrator when researching program options to confirm what funds can be used and how. Make sure you understand the various types of programs and their billing processes.
- Talk to your parents or other family members who provide financial support about your exciting plans and make sure they are on board!
Apply for Additional Funding
In addition to existing resources that you can use abroad, consider these sources of additional funding:
- Research and apply for education abroad scholarships
- Be aware of grants available just for education abroad
- Consider a Parent PLUS or private student loan