Year or Term Abroad: Costs & Funding
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Paying for Study Abroad
Yale is committed to supporting study abroad for students at all levels of financial need in the following ways:
- Maintaining a designated list that includes a range of different program costs
- Allowing financial aid portability without having to pay Yale tuition
- Advising on additional funding sources
With careful planning, some students find that a Year or Term Abroad may cost less than being at Yale. During the application stage, we recommend that you learn about expenses to anticipate, budgeting tips, and funding opportunities.
Point:If you have concerns about paying for study abroad, speak with a study abroad adviser about lower-cost program options and funding sources.
TOC:Financial Considerations
What does study abroad cost?
During a Year or Term Abroad, you will not be billed by Yale for any costs. Instead, your program will bill you directly for all of their associated costs.
Your billed expenses may include, but are not limited to:
- tuition
- housing
- student activities
- administrative fees
Visit the website of your intended program to view the billed expenses during the term(s) you plan to attend.
FAQ: Balliol Payment Exceptions
- Balliol College, Oxford University Junior Year Abroad Program for Yale English Majors: You will be billed by Yale for the cost of Yale tuition and housing fees set for that academic year but will pay for meals (board) directly to Oxford. If you choose to stay on the Oxford campus during the break between the Hilary and Trinity terms in the spring, then must pay Oxford for housing at an additional rate. Review the Balliol program page for more information.
You also should anticipate other costs you will incur that may not be part of the program's billed expenses.
Your unbilled expenses may include, but are not limited to:
- roundtrip airfare
- student visa
- immunizations
- textbooks
- meals
- personal expenses (pharmacy items, daily coffee purchases, laundry, cell phone, etc.)
- local transportation
- independent activities and trips
- souvenirs and gifts
Your intended program may provide an estimate of unbilled expenses, which can be a useful starting point for calculating these other costs.
How do I budget for study abroad?
There are a variety of factors to consider when building and managing a budget for your time abroad. Utilize the tips and resources below to assist you with estimating and planning for expenses.
- Understand your anticipated billed and unbilled expenses (see the section above).
- Determine how much money you will have available whether using Yale financial aid, other funding, your family's expected contribution, and/or your savings.
- Consider both the currency exchange rate (see xe.com) and the cost of living (see Numbeo) of your intended location(s). Be mindful of fluctuations.
- Think about your spending habits. For example, if you plan to eat out often, estimate high when budgeting.
- Once you arrive abroad and have a better sense of costs, set a weekly budget and stick to it. Budgeting apps or spreadsheets can help you to monitor your spending and stay on track.
- Designate some funds for emergencies or other unexpected costs.
- Take advantage of student discounts whenever applicable.
- Remember that the cheapest option isn't always the best option. Don't sacrifice your health, safety, or finances to save money initially. Research your options carefully.
- Consider limiting the amount of travel outside your host country. Not only will this save you money, but it will give you the opportunity to explore and get to know local sites, shops, and restaurants.
Pin: Check out these budgeting tips.
How does financial aid work?
If you receive Yale financial aid when on campus in New Haven, you can apply your Yale financial aid toward the cost of study abroad. All programs that are approved by Yale Study Abroad (including programs on the designated list and successfully petitioned programs) can use financial aid.
Financial aid recipients are required to complete a study abroad budget with Yale Student Financial Services (SFS) after being approved by Yale Study Abroad. These budgets follow the deadlines below.
- Full Academic Year Study Abroad: June 1
- Fall Term Study Abroad: June 1
- Spring Term Study Abroad: December 1
Link: Financial Aid Website: Click the button below for details about using your financial aid towards the cost of studying abroad. Nicole Rothfuss is the contact person in Financial Aid for any questions.
Webinar: You can also watch the "Financial Aid for a Year or Term Abroad" webinar by clicking the button below. To view this CAS protected webinar, sign in with "SSO" on the Zoom page.
FAQ: What if my program requires a deposit?
Typically, study abroad programs and universities abroad require you to pay a non-refundable deposit to confirm your acceptance of their offer of admission. If this deposit is due prior to your financial aid disbursement, contact Nicole Rothfuss to provide you with a letter of payment deferral.
What are some merit-based funding options?
The Yale Fellowships & Funding team offers advising to Yale students on a wide variety of Yale-specific and outside funding opportunities competitions. You can search for fellowships on their website using the Student Grants Database.
Link: Information about Funding for Language Study
How else can I fund my experience?
Outside Scholarships
You may also want to consider applying for study abroad scholarships through outside organizations. If you'll be attending a Non-Yale program, be sure to check with your study abroad provider to see if they might offer funding opportunities. Keep in mind that external funding application deadlines can be much earlier than those at Yale.