Study Abroad

Financial Planning for Global Study

Participating in Global Study is an investment in your future and involves a commitment to advance planning, careful time and money management, creativity, and perseverance. Financing your experience is an integral part of that investment. The personal, academic, and professional rewards will last a lifetime.

There are various scholarships available that can help make your experience less financially stressful. Researching scholarships can be tedious, but time spent finding and applying for funding opportunities can pay off.

This webpage will provide information and resources for your study abroad funding search. After reading the contents of this page, feel free to ask the staff of the Isabella Cannon Global Education Center (GEC) questions. We are here to help you!

Click on the links below to navigate this page.

The Office of Financial Planning has also created a Global Study and Financial Planning FAQ (pdf) to answer some common questions about Financial Planning and Global Study.

Planning Ahead for the Costs of Global Study

An Elon program is defined as a program approved by Elon University and the GEC. Consult the list of current Elon programs to see all approved programs.

You can apply Elon grants and scholarships and any federal aid toward an Elon program. If a program is a non-Elon program, you cannot use any Elon University grants or scholarships toward the program.

Elon Winter Term Programs

Average Cost: from $3,750 to $7,600 per course (2013)

Includes: Roundtrip international airfare, shared accommodations, all transportation while abroad, entrance fees associated with course events, mandatory international accident and health insurance, and some meals (where indicated).

Students are responsible for domestic flight arrangements within the U.S., baggage fees, all meals abroad that are not included in the program cost, medications/vaccines, and spending money. See program-specific information for details on what is not included on a particular program.

Elon Summer Term Programs

Average Cost: from $2,930 to $12,821 per course (2012)

Includes: Shared accommodations abroad, all transportation and entrance fees associated with course events, mandatory international accident and health insurance, some meals (where indicated), and summer tuition.

Students are responsible for all flight arrangements, all meals abroad that are not part of the program, medications/vaccines, and spending money. See a program's budget sheets in Elon Abroad for details on what is not included on a particular program.

Elon Semester Programs

Average Cost: varies by program. 

Costs are broken down into three categories:

  1. What students pay to Elon (always Elon tuition, international health insurance and a study abroad fee)
  2. What students pay to the host institution (sometimes room and/or board are paid to the host rather than to Elon)
  3. Additional student cost estimates (including items like airfare, visas, books, and in-country transportation)

Some semester programs abroad may be similar in cost to what a student would spend for a semester at Elon.  See a program's budget sheets in Elon Abroad for specific financial information.

Budgeting

Using the information above, create a tentative budget to determine what financial assistance you may need for the period in which you are participating in Global Study. Take exchange rates into account when calculating your budget.  Do not plan with the idea that you will work during your experience.

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Financial Aid

Whether you already receive financial aid or you are applying for the first time, you must complete the Free Applicaiton for Federal Student Aid (FAFSA) form, which can be found in the Office of Financial Planning or online.  You must adhere to the same deadlines that apply for on-campus aid.

In order to be considered for further loans because of increased study abroad expenses, contact the Office of Financial Planning for an appointment after you have applied for a program through the GEC.  Bring a copy of the semester, summer, or winter term cost information for your program when you meet with a financial planning advisor. Federal limitations apply.

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Elon Scholarships

There are several sources of funding available on Elon's Campus.  View the Elon Scholarship programs to learn more.  

Affiliate Scholarships

Some of the Elon semester study-abroad program affiliates offer their own scholarships. View the Affiliate Scholarship programs to learn more.

Outside Scholarships

Outside scholarships are not connected to any specific Elon programs, but can be applied for on your own. All are awarded for semester or year-long study and are highly competitive. Many of these have very specific, detailed application requirements, so you should start researching them early. View the outside scholarship programs to learn more.  

Research Other Funding Sources

  • Set your priorities.
  • Work longer hours or get a part-time job if you will need additional funds for studying abroad.
  • Search for scholarship funding appropriate to your program or individual qualifications and needs. Some good websites with information on study abroad funding are: