When your child is participating in a study abroad program, devising a budget will help you plan accordingly and prepare for any unforeseen expenditures.  Not to mention, with you student being so far away from home, it may be a good time to consider applying for a student credit card for your son or daughter.

Regardless if your child is leaving for a summer study abroad program or a 12-month study abroad program, a budget is necessary.  Aside from the quoted foreign exchange  ‘program fee,” certain fees may or may not be included in the foreign exchange program. As a result, it is important to inquire whether the following list of expenses are include

General Summer Study Abroad and Study Abroad Program Expenses
  • Application fee
  • Academic Fees
  • Administrative fee
  • Tuition and other related academic fees
  • Books and school supplies (labs fees, notebooks, pens – etc).
  • Computers: Internet use fees, access to e-mail
Student Travel Documents
  • Passport fee
  • International Student Identity Card
  • Immunizations  (if applicable)
  • Student Visa (if required)
Insurance and other Miscellaneous Expenses
  • Medical/health and accident insurance
  • Traveler’s insurance for lost or stolen personal items (ie. a stolen computer)
  • Student credit card
Student Travel, Airfare, Transportation
  • Round-trip transportation to and from the host country
  • Transportation between point of international entry and program site, if not included in the round-trip transportation fee (in example shuttle service)
  • Daily commuting expenditures (Cost of travel to and from the high school campus or college university)
  • Program-related travel
  • Optional travel (field trips, extracurricular activities, etc)
Study Abroad Program Room and Board
  • Accommodations
  • Housing or key deposits
  • Residence permits
  • Food

To calculate, compare and assess the best study abroad program for your high school student, evaluate the cost of each expenditure to two or more foreign exchange programs.  As for accounting for those unforeseen expenses, arm your son or daughter with a student credit card.