Budgeting and Estimating Expenses

Budgeting for study abroad takes time and research. However, careful planning can help you avoid unpleasant surprises. Asking yourself the following three questions will get you started:

1. How much does a semester or year at Marquette cost?

This will be your base line for comparison. Be as specific as possible about your expenses. Be sure to include the following:

2. How much would a semester or year abroad cost?

Be as specific as possible. If in doubt, use generous estimates; it is better to budget too much money than to find yourself in a foreign country short of funds. Be sure to include the following:

Pre-trip Expenses (estimate $250):

• Application fees, pictures, passport and visa
• International Student Identification Card (ISIC)
• International Youth Hostel membership
• Travel books

Other Expenses

Note: When comparing the costs of different programs, use caution when comparing bottom line to bottom line. Some programs include items such as room and board, insurance, etc., while others do not. Also, even if your financial aid is not fully transferable, your actual cost to study abroad will not necessarily be higher than the actual cost of studying at Marquette for that semester. Also keep in mind that your actual cost will be dependent on the exchange rate at the time you study abroad.

3. How much money do you have available?

When estimating the cost of your study abroad experience, be sure to include all available funding sources, including:

• Savings
• Outside grants, scholarships & aid
• Assistance from family members
• Loans
• Fund-raising activities

Note: It is unadvisable to count on work abroad to earn money. Even internships tend to be unpaid. Many countries do not permit foreign students to work and those that do, require work permits. We recommend you do not rely on overseas employment income when budgeting.