You have been dreaming about studying abroad -- living in a new city, taking classes with a different perspective, maybe picking up a second language along the way. Then you look at the price tag and wonder if you can actually afford it. Here is the good news: financial aid can follow you overseas in many cases. But the rules are different from what you are used to on your home campus. This article breaks down what study abroad really costs, which types of aid transfer, where to find extra scholarship money, and the hidden expenses that catch students off guard. By the end, you will have a clear plan for making study abroad work with your budget.
What Study Abroad Actually Costs
Before you can figure out how to pay, you need to know what you are paying for. Study abroad costs vary widely depending on the program type, location, and length of stay.
According to the Institute of International Education, about 349,000 U.S. students studied abroad for credit during the 2022-23 academic year. The price they paid depended a lot on the program they chose.
Program Types and Their Price Ranges
Direct enrollment means you register as a visiting student at a foreign university. Tuition there might be cheaper than your home school -- many public universities in Germany, Norway, and France charge little or no tuition to international students. But you lose some of the support structure that comes with organized programs.
Third-party provider programs through organizations like CIEE, API, or ISA bundle tuition, housing, some meals, and on-the-ground support into one fee. These programs typically cost between $15,000 and $30,000 per semester, depending on the country and what is included.
Exchange programs run through your own college usually let you pay your home tuition and swap spots with a student at a partner university abroad. This is often the most affordable option because your existing financial aid package stays mostly intact.
Faculty-led short-term programs run during winter or summer breaks and last two to six weeks. According to NAFSA, short-term programs now account for the majority of study abroad participation. They can cost anywhere from $3,000 to $10,000, depending on the destination and duration.
A Cost Comparison Snapshot
For the 2025-26 academic year, average costs for a semester abroad look roughly like this:
- Western Europe (UK, France, Spain): $18,000 to $28,000 for program fees, housing, and basic living expenses
- Eastern Europe (Czech Republic, Hungary): $10,000 to $16,000
- Latin America (Chile, Argentina, Costa Rica): $10,000 to $18,000
- Asia (South Korea, Japan, Thailand): $9,000 to $22,000
- Australia/New Zealand: $16,000 to $25,000
These ranges include tuition or program fees and basic room and board, but not airfare, visa costs, or personal spending.
How Financial Aid Transfers Abroad
The most important question most students have is whether their current financial aid will cover study abroad. The short answer: it depends on the program and how your school handles it.
Federal Financial Aid Portability
Federal student aid -- including Pell Grants, Direct Subsidized and Unsubsidized Loans, and PLUS Loans -- can be used for study abroad programs that are approved for credit by your home institution. The Federal Student Aid office confirms that students enrolled in eligible programs abroad can receive federal financial aid.
Here is what matters:
- Your study abroad program must be approved by your home school for academic credit
- You must remain enrolled at your home institution (or the program must be through a school that participates in federal student aid programs)
- Your financial aid office at your home school typically processes the aid, even if you are paying a third-party provider
The FSA Handbook explains that schools can create a cost of attendance (COA) budget specifically for study abroad that reflects the actual costs of the program, including travel expenses.
Institutional Aid and Scholarships
This is where it gets trickier. Grants and scholarships from your college may or may not transfer to study abroad programs. Each school sets its own rules.
Some colleges allow 100% of institutional aid to apply to approved study abroad programs, especially exchange programs where you continue paying home tuition. Other schools reduce or eliminate institutional grants when you study through a third-party provider.
According to Sallie Mae's "How America Pays for College" report, scholarships and grants covered about 30% of college costs for the average family in recent years. Losing that institutional aid while abroad could mean a gap of several thousand dollars you need to fill.
What to do: Ask your financial aid office these exact questions before you commit to a program:
- Will my institutional grants apply to this specific study abroad program?
- Will my merit scholarship continue while I am abroad?
- If I go through a third-party provider, does my aid package change?
- Is there a study abroad billing arrangement where I pay home tuition?
State Aid
State grants like the Cal Grant (California), TAP (New York), or MAP (Illinois) each have their own rules about study abroad. Some states allow their grants to be used at approved programs abroad, while others restrict them to in-state schools only. Check with your state higher education agency before making plans.
Scholarships Specifically for Study Abroad
Beyond your existing aid, there is a solid amount of scholarship money set aside specifically for students going abroad. These are worth the application effort.
The Gilman Scholarship
The Benjamin A. Gilman International Scholarship is the big one. Funded by the U.S. Department of State, it awards up to $5,000 (and up to $8,000 for students studying a critical-need language) to Pell Grant recipients who want to study or intern abroad. Over 3,500 scholarships are awarded each year. If you receive a Pell Grant, this should be your first application.
The Boren Scholarship
The Boren Awards provide up to $25,000 for a full academic year abroad to students studying languages and regions critical to U.S. interests. The catch: you commit to working in the federal government for at least a year after graduation. If that interests you, the funding is substantial.
Fund for Education Abroad
The Fund for Education Abroad (FEA) offers grants of up to $10,000 to students who are underrepresented in study abroad, including first-generation college students, community college students, and students from minority-serving institutions.
Provider and University Scholarships
Most third-party program providers offer their own scholarships. CIEE, for example, awards need-based grants of $1,000 to $4,000. Your home school's study abroad office may also have small scholarships or travel grants, sometimes as little as $500, but it all adds up.
According to NASFAA, combining multiple small scholarships with existing federal aid is the most common way students close the funding gap for study abroad.
Hidden Expenses That Blow Your Budget
Program fees and tuition are just part of the total cost. Here are the expenses that surprise students the most.
Airfare
A round-trip flight to Europe runs $600 to $1,200 from most U.S. cities. Flights to Asia or Australia can cost $1,000 to $1,800. Book early and set fare alerts.
Visa and Passport Fees
A U.S. passport costs $165 for a new adult applicant. Student visa fees vary by country -- the UK student visa costs about $490, while a French student visa is about $60. Some countries also require proof of health insurance or financial support as part of the visa process.
Health Insurance
Your program may include basic insurance, but check the details. Many students need supplemental coverage. If your program does not include insurance, expect to pay $40 to $100 per month for an international student health plan. Also check whether your family's health insurance covers you overseas -- most domestic plans offer limited or no coverage abroad.
Day-to-Day Living Costs
Even when housing and some meals are covered, you will spend money on groceries, transportation, phone plans, laundry, and social activities. Students consistently underestimate this category. A reasonable monthly budget for personal expenses ranges from $300 in lower-cost countries to $700 or more in cities like London or Tokyo.
Travel During Breaks
Weekend trips and break travel are one of the great parts of studying abroad -- and one of the biggest unplanned expenses. Students in Europe often spend $1,000 to $3,000 on travel during a semester. Budget for this in advance or decide how much you are willing to spend before you go.
Currency Exchange and Banking Fees
International ATM fees, foreign transaction fees, and currency exchange rates can quietly eat into your money. Get a bank account or credit card with no foreign transaction fees before you leave. Many students use accounts from banks like Charles Schwab or Capital One for this reason.
Challenges to Watch
Study abroad funding is not always straightforward. Here are the most common roadblocks students run into.
Your school's study abroad office and financial aid office do not talk to each other. This happens more often than you would think. Start connecting with both offices at least six months before your program starts. Get everything in writing.
Aid disbursement timing does not match program payment deadlines. Third-party providers often require deposits and payments on a different schedule than your school releases aid. You may need to pay out of pocket first and get reimbursed later. Ask about this early so your family can plan.
Your Expected Family Contribution (now called Student Aid Index) goes up. If your family's financial situation changed or your FAFSA information was updated, your aid package for the abroad semester might look different from what you expected.
You lose your work-study income. If part of your current financial aid package includes Federal Work-Study, you will not have that income while abroad (unless your program includes a work component, which is rare). Budget for this lost income.
Credit transfer problems affect your aid. If credits from abroad do not transfer smoothly, it could delay your graduation, which affects how many semesters of aid you have left. Confirm credit transfer before you go, not after.
A Step-by-Step Funding Plan
Here is a timeline to keep you organized:
- 12 months before departure: Research programs and their costs. Ask your financial aid office how your aid transfers. File the FAFSA on time.
- 9 months before: Apply for Gilman, Boren, FEA, and provider scholarships. Deadlines are often in March or October, depending on the program term.
- 6 months before: Confirm your aid package for the abroad semester. Get a written cost of attendance from your school. Identify any funding gaps.
- 3 months before: Apply for your visa and passport. Set up a bank account with no foreign transaction fees. Book flights.
- 1 month before: Set a monthly spending budget. Notify your bank about international travel. Download offline maps and translation apps.
The Bottom Line
Studying abroad does not have to be a luxury reserved for students with extra cash. Federal aid transfers to approved programs. Scholarships like Gilman, Boren, and FEA exist specifically to help students with financial need get overseas. And choosing the right program structure -- especially an exchange where you pay home tuition -- can keep costs in line with what you would spend on campus.
The key is starting early, asking detailed questions, and building a budget that accounts for the expenses your program fee does not cover. According to College Board's Trends in Student Aid, total student aid exceeded $240 billion in the 2022-23 academic year. A portion of that money is available to support your time abroad -- but only if you know how to access it.
You do not have to figure this out alone. CollegeLens can help you compare schools and plan your finances so you can see exactly how study abroad fits into your overall college budget. Start by building your plan, and you will have a clear picture of what is possible.
-- Sravani at CollegeLens