Finances and Scholarships
You’ve decided to go abroad, that’s fantastic! As you begin to plan for this life changing experience you may be concerned about funding your program. We are here to assist you in finding the necessary resources to fund your overseas program.You should first check with the Marshall Financial Aid Office and start thinking about your personal budget. Upon scheduling a meeting with Sarah Musgrave, Senior Financial Aid Counselor, you should complete the Cost of Attendance form which you can pick up at the Financial Aid Office, the Study Abroad Office, or print it from here.
Scholarships will also be very useful in assisting you with your funding. You should first check with your specific program to see if there are any scholarships offered by them. You may also want to check with the Study Abroad Office to see if you are eligible for any of their in office scholarships. The Study Abroad Office offers Scholarship Workshops once every semester, be sure to check at the office to find out more information on the next workshop. You may be interested in the following scholarships listed below for you. Be sure to begin the application process well in advanced and check all websites for deadlines. It is common for application materials to be due 6 months or more ahead of your program start date.
- Bridging Scholarships for Study in Japan – Awards 100 scholarships annually to assist students with the travel and living expenses they will incur while studying abroad in Japan.
- British Council – Information for funding your study in the UK
- Critical Language Scholarships for Intensive Summer Institutes – A 7-11 week program designed to increase the number of Americans who are able to speak “critical foreign languages.” All costs (except passport fees) are paid.
- Fulbright – Program offers opportunities for recent graduates, postgraduate candidates, and developing professionals and artists to conduct career-launching study and research abroad.
- German Academic Exchange Service – Supports study abroad in Germany and at German universities.
- Gilman Scholarship – Provides awards of up to $5,000 for U.S. undergraduate students to study abroad of up to one academic year. To be eligible students must be receiving a Federal Pell Grant at the time of application.
- Golden Key International Honor Society – Members of this organization are eligible to apply for a $2000 study abroad scholarship. Deadlines for the scholarships, which are presented twice each year, are October 15 and April 15. For more information about this scholarship please feel free to contact Dr. George Davis at firstname.lastname@example.org.
- National Security Education Program (NSEP) David L. Boren Undergraduate Scholarships – Provide support to U.S. undergraduates who will pursue the study of languages and cultures currently underrepresented in study abroad and critical to U.S. national security.
- Rotary Scholarships – Each year the Rotary Foundation sponsors “ambassadors of goodwill” to study in another country. For more information about these scholarships please feel free to contact Dr. Clark Egnor at email@example.com.
- The American-Scandinavian Foundation (ASF) – Fellowships/grants available for study in Scandinavia.
- Vista Wide World Languages & Cultures – Scholarships and grants available for study abroad.
For more scholarships go to http://www.istc.umn.edu/financial/scholarships/index.html and www.goabroad.com and click on their Scholarships tab and you should be able to search from a variety of different options.
Student loans may be the only option for added financial assistance. If this is the case, there are many lenders available. You may first want to check with your current bank to see what they can offer you. Majority of the time you will need to take out a regular student or parent loan. Student loans only allow you to borrow the cost of tuition less awards so you need to check with financial aid exactly how much that will actually give you. If you take out personal loans, there is also a cap on the amount but it should be high enough to incorporate all of your expenditures.
If you need to contact other lenders use the following websites for reference or you can do research to find others. Be sure to compare the interest rates of a couple of vendors before making a decision to ensure you received the best interest rate.