When it comes to studying abroad, navigating financial aid can be tough. Though your aid might apply if you enroll in a university-affiliated study abroad program, it probably won’t cover all of your living expenses. And it definitely won’t cover extra baguettes or spontaneous weekend trips.
That’s where study abroad scholarships can help. Although some are big and some are small, every dollar (or euro) will help you have a more financially secure experience.
Here are seven scholarships for studying abroad.
Scott’s Cheap Flights is an email newsletter that alerts travelers about airline deals. And, wanting to help young travelers see the world, it awards one $1,000 scholarship each fall and spring.
Applicants must be U.S. permanent residents enrolled in an accredited undergraduate or graduate program. To throw your hat in the ring, you’ll submit a 500- to 1,000-word essay based on a prompt; the most recent one was “Why is travel important to you?”
|Important note on the ways to pay for college study abroad programs
Remember that scholarships almost always don’t need to be repaid. That’s what makes them such a great alternative to study abroad loans that need to be repaid with interest.
If you’re interested in working for the federal government, it’s worth giving the Boren Scholarship a look.
It offers a whopping $10,000 for 12 to 24 weeks or $20,000 over 25 to 52 weeks to students who study less commonly taught languages in underrepresented regions “critical to U.S. interests.”
Students can apply to study in any country outside Western Europe, Canada, Australia or New Zealand. Preference is given to those who stay for six months or more, and those who study one of the following languages:
The nonprofit FEA offers a range of scholarships for students who want to broaden their travel horizons.
Scholarships are available for a full year ($10,000), semester ($5,000) or summer (a minimum of $1,250, prorated by the number of weeks).
To be eligible, you must be a U.S. citizen or permanent resident who’s enrolled at an undergraduate institution. Preference is given to those with demonstrated financial need — especially to community college, minority and first-generation students.
Tortuga’s biannual study abroad scholarship was suspended in 2020 to account for the international coronavirus pandemic. When it’s up and running, though, it offers one lucky winner $1,000 and a Tortuga travel backpack. The winnings are sent directly to your program or university and can be used for tuition, room and board, books or travel.
Applicants must be studying at a four-year university in the U.S.
Once you apply, however, note your submission becomes the property of Tortuga — and could get posted on its blog or social media accounts. Winners should expect to be featured.
|How to win a scholarship to study abroad|
|Click the link above to learn about how Gabby Beckford won $41,027 worth of study abroad scholarships, including $20,000 via the Boren Scholarship.|
Funded by the State Department, the Benjamin A. Gilman scholarship program is targeted at students who might not study abroad due to financial circumstances. It awards upwards of 3,000 annual scholarships of up to $5,000.
To apply, you must be a U.S. citizen and Pell-grant recipient who’s studying at an accredited undergraduate institution. Awards are based on academic records, diversity of background, program and destination and community impact. You could receive additional funding if you study a critical-need language.
Best of all, the scholarship comes with a year of noncompetitive eligibility hiring status with the U.S. government — which gives you an advantage when applying for government jobs.
It makes sense that the popular study abroad website Go Overseas would offer its own scholarships.
They range from full-tuition scholarships for studying abroad in Ireland and New Zealand to partial funding for taking a gap year. There are also biannual scholarships for studying and volunteering abroad starting at $500.
|Have a specific country in mind?|
|● Japan study abroad scholarships
● Scholarships for U.S. citizens studying in Canada
When you travel abroad, you’ll probably stay at hostels — and before you go, you should probably apply for HI’s Explore the World Scholarship. In 2019, the company awarded 115 scholarships of $2,000 each.
Unlike many of the other programs, you don’t need to be studying abroad in an official credit-earning capacity; your trip simply must incorporate education or volunteering.
To be eligible, you must live in one of the metro areas where HI has a presence:
- Los Angeles
- Sacramento, Calif.
- San Diego
- San Francisco
- Washington, D.C., Baltimore, Md. and Va.
- New Orleans
- New York City
- Portland, Ore.
- Austin, Texas
- Richmond, Va.
You must also be:
- A U.S. citizen or permanent resident
- Between the ages of 18 and 30
- Have demonstrated a need for financial assistance
You can sign up for HI’s study abroad scholarship alerts here.
The study abroad scholarships above are general, and applicable to a wide breadth of students. But they’re just a small sampling of what’s available.
Depending on factors like where you’re traveling and what you’re studying, you can find many more. Consider seeking out scholarships for studying abroad from:
- Schools: Don’t forget to see what scholarships your university or study abroad provider might offer; for instance, CIEE, IES Abroad and USAC all have scholarships for students who study abroad through their programs.
- Countries: Even if you’re hoping to attend school in one of the countries that offer college at no cost, see what their governments offer to foreign students seeking financial aid.
- Companies: Ask your employer to see if it has a resource like The Chevron International REACH Scholarship Program, or survey other organizations for opportunities.
- Online databases: For example, if you’re a person of color, first-generation college student or from a low-income family, you should also check the searchable tool via Diversity Abroad for a range of study abroad scholarships.
While this list is a good starting point, ask around and research all your options. Not only could it mean more money when you study abroad, but it’s also a skill that will serve you well on your travels, too.
Andrew Pentis contributed to this report.
Need a student loan?Here are our top student loan lenders of 2022!
|1.19% – 11.98%1||Undergraduate|
|1.62% – 11.73%*,2||Undergraduate|
|0.94% – 11.44%3||Undergraduate|
|1.64% – 11.45%4||Undergraduate|
|1.89% – 11.92%5||Undergraduate|
|0.00% – 23.00%8||Undergraduate|
|* The Sallie Mae partner referenced is not the creditor for these loans and is compensated by Sallie Mae for the referral of Smart Option Student Loan customers.
1 Important Disclosures for College Ave.
College Ave Student Loans products are made available through Firstrust Bank, member FDIC, First Citizens Community Bank, member FDIC, or M.Y. Safra Bank, FSB, member FDIC.. All loans are subject to individual approval and adherence to underwriting guidelines. Program restrictions, other terms, and conditions apply.
Rates shown are for the College Ave Undergraduate Loan product and include autopay discount. The 0.25% auto-pay interest rate reduction applies as long as a valid bank account is designated for required monthly payments. Variable rates may increase after consummation.
This informational repayment example uses typical loan terms for a freshman borrower who selects the Deferred Repayment Option with a 10-year repayment term, has a $10,000 loan that is disbursed in one disbursement and a 8.35% fixed Annual Percentage Rate (“APR”): 120 monthly payments of $179.18 while in the repayment period, for a total amount of payments of $21,501.54. Loans will never have a full principal and interest monthly payment of less than $50. Your actual rates and repayment terms may vary. This informational repayment example uses typical loan terms for a first year graduate student borrower who selects the Deferred Repayment Option with a 10-year repayment term, has a $10,000 loan that is disbursed in one disbursement and a 7.10% fixed Annual Percentage Rate (“APR”): 120 monthly payments of $141.66 while in the repayment period, for a total amount of payments of $16,699.21. Loans will never have a full principal and interest monthly payment of less than $50. Your actual rates and repayment terms may vary.
Information advertised valid as of 4/19/2022. Variable interest rates may increase after consummation. Approved interest rate will depend on the creditworthiness of the applicant(s), lowest advertised rates only available to the most creditworthy applicants and require selection of full principal and interest payments with the shortest available loan term.
2 Sallie Mae Disclaimer: Click here for important information. Terms, conditions and limitations apply.
3 Rate range above includes optional 0.25% Auto Pay discount. Important Disclosures for Earnest.
Actual rate and available repayment terms will vary based on your income. Fixed rates range from 3.49% APR to 13.03% APR (excludes 0.25% Auto Pay discount). Variable rates range from 1.19% APR to 10.14% APR (excludes 0.25% Auto Pay discount). Earnest variable interest rate student loan refinance loans are based on a publicly available index, the 30-day Average Secured Overnight Financing Rate (SOFR) published by the Federal Reserve Bank of New York. The variable rate is based on the rate published on the 25th day, or the next business day, of the preceding calendar month, rounded to the nearest hundredth of a percent. The rate will not increase more than once per month. Although the rate will vary after you are approved, it will never exceed 36% (the maximum allowable for this loan). Please note, Earnest Private Student Loans are not available in Nevada.
4 Important Disclosures for Ascent.
Ascent loans are funded by Bank of Lake Mills, Member FDIC. Loan products may not be available in certain jurisdictions. Certain restrictions, limitations; and terms and conditions may apply. For Ascent Terms and Conditions please visit: AscentFunding.com/Ts&Cs
Rates are effective as of 05/01/2022 and reflect an automatic payment discount of either 0.25% (for credit-based loans) OR 1.00% (for undergraduate outcomes income-based loans). Automatic Payment Discount is available if the borrower is enrolled in automatic payments from their personal checking account and the amount is successfully withdrawn from the authorized bank account each month. For Ascent rates and repayment examples please visit: AscentFunding.com/Rates.
1% Cash Back Graduation Reward subject to terms and conditions, please visit AscentFunding.com/Cashback. Cosigned Credit-Based Loan student borrowers must meet certain minimum credit criteria. The minimum score required is subject to change and may depend on the credit score of your cosigner. Lowest APRs are available for the most creditworthy applicants and may require a cosigner.
5 Important Disclosures for SoFi.
UNDERGRADUATE LOANS: Fixed rates from 3.47% to 11.16% annual percentage rate (“APR”) (with autopay), variable rates from 1.89% to 11.92% APR (with autopay). GRADUATE LOANS: Fixed rates from 4.60to 11.06% APR (with autopay), variable rates from 2.59% to 11.82% APR (with autopay). PARENT LOANS: Fixed rates from 4.48% to 11.16% APR (with autopay), variable rates from 1.69% to 11.92% APR (with autopay). For the SoFi variable-rate product, the variable interest rate for a given month is derived by adding a margin to the 30-day average SOFR index, published two business days preceding such calendar month, rounded up to the nearest one hundredth of one percent (0.01% or 0.0001). APRs for variable-rate loans may increase after origination if the SOFR index increases. Interest rates for variable rate loans are capped at 13.95%, unless required to be lower to comply with applicable law. Lowest rates are reserved for the most creditworthy borrowers. If approved for a loan, the interest rate offered will depend on your creditworthiness, the repayment option you select, the term and amount of the loan and other factors, and will be within the ranges of rates listed above. The SoFi 0.25% autopay interest rate reduction requires you to agree to make monthly principal and interest payments by an automatic monthly deduction from a savings or checking account. The benefit will discontinue and be lost for periods in which you do not pay by automatic deduction from a savings or checking account. Information current as of 05/04/2022. Enrolling in autopay is not required to receive a loan from SoFi. Loans originated by SoFi Lending Corp. or an affiliate (dba SoFi), licensed by the Department of Financial Protection and Innovation under the California Financing Law License No. 6054612. NMLS #1121636 (www.nmlsconsumeraccess.org).
6 Important Disclosures for Citizens Bank.
Citizens Bank Disclosures
Undergraduate Rate Disclosure: Fixed interest rates range from 3.48% – 11.64% (3.48% – 10.78% APR).
Graduate Rate Disclosure: Fixed interest rates range from 4.89% – 11.64% (4.89% – 11.34% APR).
Business/Law Rate Disclosure: Fixed interest rates range from 4.49% – 10.39% (4.49% – 9.68% APR).
Medical/Dental Rate Disclosure: Fixed interest rates range from 4.43% – 9.19% (4.44% – 8.89% APR).
Parent Loan Rate Disclosure: Fixed interest rates range from 4.80%-8.23% (4.80%-8.24% APR).
Bar Study Rate Disclosure: Fixed interest rates range from 7.39% – 12.94% (7.40% – 12.83% APR).
Medical Residency Rate Disclosure: Fixed interest rates range from 6.99% – 10.49% (6.98% – 10.09% APR).
ERL Variable Rate Disclosure: Variable interest rates are based on the 30-day average Secured Overnight Financing Rate (“SOFR”) index, as published by the Federal Reserve Bank of New York. As of May 1, 2022, the 30-day average SOFR index is 0.29%. Variable interest rates will fluctuate over the term of the loan with changes in the SOFR index, and will vary based on applicable terms, level of degree and presence of a co-signer. The maximum variable interest rate is the greater of 21.00% or the prime rate plus 9.00%.
Fixed Rate Disclosure: Fixed rate ranges are based on applicable terms, level of degree, and presence of a co-signer.
Lowest Rate Disclosure: Lowest rates are only available for the most creditworthy applicants, require a 5-year repayment term, immediate repayment, a graduate or medical degree (where applicable), and include our Loyalty and Automatic Payment discounts of 0.25 percentage points each, as outlined in the Loyalty Discount and Automatic Payment Discount disclosures. Rates are subject to additional terms and conditions, and are subject to change at any time without notice. Such changes will only apply to applications taken after the effective date of change.
Federal Loan vs. Private Loan Benefits: Some federal student loans include unique benefits that the borrower may not receive with a private student loan, some of which we do not offer. Borrowers should carefully review federal benefits, especially if they work in public service, are in the military, are considering possible loan forgiveness options, are currently on or considering income based repayment options or are concerned about a steady source of future income and would want to lower their payments at some time in the future. When the borrower refinances, they waive any current and potential future benefits of their federal loans. For more information about federal student loan benefits and federal loan consolidation, visit http://studentaid.ed.gov/. We also have several resources available to help the borrower make a decision on our website including Should I Refinance My Student Loans? and our FAQs. Should I Refinance My Student Loans? includes a comparison of federal and private student loan benefits that we encourage the borrower to review.
Eligibility Criteria: Applicants must be a U.S. citizen, permanent resident, or eligible non-citizen with a creditworthy U.S. citizen or permanent resident co-signer. For applicants who have not attained the age of majority in their state of residence, a co-signer is required. Citizens Bank reserves the right to modify eligibility criteria at any time. Citizens Bank private student loans are subject to credit qualification, completion of a loan application/Promissory Note, verification of application information, and if applicable, self-certification form, school certification of the loan amount, and student’s enrollment at a Citizens Bank participating school.
Loyalty Discount Disclosure: The borrower will be eligible for a 0.25 percentage point interest rate reduction on their loan if the borrower or their co-signer (if applicable) has a qualifying account in existence with us at the time the borrower and their co-signer (if applicable) have submitted a completed application authorizing us to review their credit request for the loan. The following are qualifying accounts: any checking account, savings account, money market account, certificate of deposit, automobile loan, home equity loan, home equity line of credit, mortgage, credit card account, or other student loans owned by Citizens Bank, N.A. Please note, our checking and savings account options are only available in the following states: CT, DE, MA, MI, NH, NJ, NY, OH, PA, RI, and VT and some products may have an associated cost. This discount will be reflected in the interest rate disclosed in the Loan Approval Disclosure that will be provided to the borrower once the loan is approved. Limit of one Loyalty Discount per loan and discount will not be applied to prior loans. The Loyalty Discount will remain in effect for the life of the loan.
Automatic Payment Discount Disclosure: Borrowers will be eligible to receive a 0.25 percentage point interest rate reduction on their student loans owned by Citizens Bank, N.A. during such time as payments are required to be made and our loan servicer is authorized to automatically deduct payments each month from any bank account the borrower designates. Discount is not available when payments are not due, such as during forbearance. If our loan servicer is unable to successfully withdraw the automatic deductions from the designated account three or more times within any 12-month period, the borrower will no longer be eligible for this discount.
7 Important Disclosures for Funding U.
Funding U Disclosures
Offered terms are subject to change. Loans are made by Funding University which is a for-profit enterprise. Funding University is not affiliated with the school you are attending or any other learning institution. None of the information contained in Funding University’s website constitutes a recommendation, solicitation or offer by Funding University or its affiliates to buy or sell any securities or other financial instruments or other assets or provide any investment advice or service.
8 Important Disclosures for Edly.
1. Loan Example:
About this example
The initial payment schedule is set upon receiving final terms and upon confirmation by your school of the loan amount. You may repay this loan at any time by paying an effective APR of 23%. The maximum amount you will pay is $22,500 (not including Late Fees and Returned Check Fees, if any). The maximum number of regularly scheduled payments you will make is 60. You will not pay more than 23% APR. No payment is required if your gross earned income is below $30,000 annually or if you lose your job and cannot find employment.
2. Edly Student IBR Loans are unsecured personal student loans issued by FinWise Bank, a Utah chartered commercial bank, member FDIC. All loans are subject to eligibility criteria and review of creditworthiness and history. Terms and conditions apply.