Are you or your child dreaming of learning of abroad, perhaps on the coasts of Spain, or the mountains of Italy? As a young adult now is a perfect time broaden those horizons, and explore new lands while continuing an education. Unfortunately, all of these great experiences don’t come for free! If you’re searching for some innovative ways to scrimp and save to make a potential study abroad a reality, we have a few strategies to help you make it happen.
- Scholarships, scholarships, scholarships. Whether it’s through a prospective program, current university, or perhaps even an area Amvets organization, make it a dedicated part-time job to apply to any and every study abroad application that is relative to your upcoming study abroad. You can save anywhere from a couple hundred dollars up to the entire cost of your travel and tuition through a combination of various scholarship programs.
- Work study. This is a fantastic opportunity many foreign programs offer. In exchange for a small amount of work during the week, such as AV management or library maintenance, you can reduce your educational costs by thousands! Be sure to apply for these early as they’re typically capped at a specific number of students.
- Plan your own excursions. Many study abroad opportunities also offer pre-planned excursions to go to neighboring cities or countries. Instead of footing an inflated travel bill, plan your own excursions with a group of friends and split the costs. You may find yourself having a better time than the official itinerary attendees!
- Pay with cash. Once you’ve arrived at your destination, continue your savings journey, by only taking the amount of cash you need for your planned purchases. It does help to have an international credit card such as Mastercard or Visa for emergencies, but when shopping day-to-day, spend less and pay with cash.
- Pack your staples and buy your conveniences. When packing for several months, it helps to include clothes which can be combined for multiple outfits. Couple this with versatile shoes and accessories, and a two-week wardrobe can easily last you a whole semester! Other amenities such as toiletries, snacks, and basic school supplies can be much easier to purchase once you arrive.
- Use apps to call home instead of expensive calling cards. Helpful apps like WhatsApp, Skype, and Facetime make it simple to connect with loved ones back home without having to pay costly fees. If you can find a local wifi hotspot, or happen to have internet where you’re staying, there’s no need to pay for an international cell phone or expensive cell phone fees. If you plan to use your regular U.S. based cell phone while abroad, just be sure to keep it on airplane mode to avoid astronomical roaming charges.
No matter where you or your child are planning to study abroad, the key is to enjoy it! Iowa State Bank can help you set-up a dedicated savings account, all we ask is you make the most of your time and explore as much as you can! We’ll help you take care of the rest.
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