Deposits, Billing, and Budgeting Tips
We know that cost is a significant factor in choosing a study abroad program -- or choosing to study abroad at all. Costs vary but many study abroad opportunities cost no more (excluding airfare, insurance, and other expenses related to living abroad) than a term on campus. In order to gauge additional expenses (aside from tuition and program cost), you’ll need to consider the possible expenses listed below. Most of our affiliate programs provide a list of “estimated costs” to help you calculate the overall cost of your study abroad experience.
Program Deposits & Billing
Students are responsible for submitting any deposits specified directly to their program by the published deadline. For the TLU Faculty-Led Programs, deposits are applied to the overall program fee. Deposit/confirmation deposits charged by affiliated programs are usually applied to overall program costs, but not in all cases. Check with your program.
Affiliated Program Billing
Each affiliated program has a program deposit which you will pay directly to them. Tuition for your study abroad program, as well as a program fee(s), will be billed directly to you by TLU. Therefore, you should anticipate receiving two bills for studying abroad (the program deposit from the provider and the rest of the program fee from TLU).
Faculty-Led Program Billing
A $300 nonrefundable deposit is due at the time of pre-registration, payable to the TLU Business Office (by cash, check, or credit card), to secure a student's place on TLU Faculty-Led programs. This deposit will be credited toward the student's final bill. The program fee invoice will be added to the student's TLU account in December with at least 40 percent due in January. The program fees typically include airfare, lodging, ground transportation, group admission on planned activities, some meals, and medical insurance.
Kansai Gaidai Billing
Our exchange in Japan, Kansai Gaidai, is such that students pay tuition, housing, and meals directly to TLU.
Possible Additional Expenses
- Round-trip transportation to and from your program
- Ground transportation on site
- Passport and visa fees
- Medical examination and immunizations
- International Student ID Card (ISIC)
- Travel Insurance
- Books and other school supplies
- Meals not covered by the program
- Gifts if staying with a host family
- Cell phone rental and usage fees, international calling card, or international calling plan or sim card
- Postage if you want/need to mail anything home
- Optional travel expenses (for personal travel or participation in an optional program excursion)
- Personal expenses (toiletries, laundry, souvenirs, etc.)
Budgeting for Your Study Abroad Program
Studying abroad doesn’t have to break the bank so long as you have a budget and stick to it. Here are some tips to help you manage your money and stretch the funds you have.
- Cost of Living: This can vary greatly from location to location. For example, Buenos Aires is 37 percent cheaper than Minneapolis and 66 percent cheaper than London. For other comparisons, visit expatistan.com.
- Cash Flow: Working abroad while on a program is typically not feasible or allowed. Think about how much income you would be willing to give up while studying abroad. Would you give up more income if you studied abroad in the summer instead of the semester?
See the Study Abroad: Money Matters document for more details on budgeting, saving, and creative fundraising ideas for study abroad. This was created by Norma Castañon, a graduate intern for TLU’s International Education office during the Fall 2015 semester.
- About Study Abroad
- Study Abroad Programs
- Preparing for Study Abroad
- Returning from Abroad
September 23, 2016
Part of the college experience is the opportunity to study abroad. For some students, the idea of leaving home to go half way across the world is terrifying, but not for TLU exchange student Masaki Higashi.Read More