Costs and Financing
For students, studying abroad is an investment in their future. Like any other type of investment, it requires careful planning and management. However, the personal, academic, and professional rewards that are gained from this experience will last a lifetime.
Students should carefully consider costs, budgets and financing when selecting and preparing for their program. To help them prepare, we offer Funding Study Abroad Information Sessions online or in person and Financial Aid Drop-In Advising for Study Abroad.
Review our funding resources for more details.
How much does a program cost?
Students are charged program fees to recover the actual costs of the program. The program fee can be found on the program cost sheet found on each program page in the “Cost & Funding” tab.
More information on costs and billing can be found in the student handbook.
Understanding cost sheets
- What students will be billed through the UW-Madison Bursar’s office based on residency
- Can include many different items, so review carefully to know what is and is not included (housing, meals, etc.)
- In order to confirm participation on a program, students must pay an acceptance deposit that is part of their program fee and will be credited to their total amount.
- Provides estimates for what students should be prepared to pay out-of-pocket
- Estimated Additional Expenses and any costs not included in the IAP Program Fee are the student’s responsibility.
- The estimated expenses can change based on exchange rates and economic factors and some can be altered due to personal spending habits
Program Fee + Estimated additional Expenses = Total cost of attendance
- Information about what fees students may have to pay if they have to withdraw from a program
- Dates when a student should receive and pay an eBill
Program funding
Financial aid
UW-Madison students may be able to utilize financial aid on approved UW-Madison programs. Guidelines on the usage can be found on the Office of Student Financial Aid (OSFA) webpage. If students have not received aid in the past, they may still be eligible for financial aid to help with their program expenses.
Scholarships
Students are encouraged to apply for scholarships as a way to supplement their budget for study abroad. There are many different types of scholarships awarded from multiple organizations/offices. We encourage students to review the scholarship chart early so that they can sort through the awards and determine eligibility. Students should not rely on scholarships to fund their entire experience.
Creative fundraising
Fundraising will help to make a student’s program more affordable and can serve as a way to educate the public. We have various creative fundraising ideas for students from local, regional and national groups.
Managing money abroad
Refer to the student handbook for recommendations on:
- Exchanging and withdrawing money abroad
- Contacting the bank before departure
- Keeping money safe
- Using debit and credit cards abroad
- Understanding currency conversion
Questions
For funding questions, contact the study abroad advisor for the program.
For billing questions, students can contact the financial specialist for the program.
Both of these can be found on the Contacts tab of the program page.
For financial aid questions, students can schedule an appointment on Starfish with a financial aid advisor.