Financing Your Education Abroad Experience

Studying abroad is an investment in your future. Like any investment, it requires careful planning and management. However, the personal, academic, and professional rewards that you will gain from this experience will last a lifetime. The following information is being provided to better assist prospective and current study abroad applicants in planning and financing their international experience. In all instances, student will be paying Babson College tuition for participation.

Program Cost Information
For more detailed program cost information (including all direct program costs as well as additional estimated expenses), please contact the Glavin Office of Multicultural & International Education at 781-239-4565.

Financial Aid
Students currently receiving financial aid who are enrolled in a Babson education abroad program are eligible to use that aid toward paying their tuition and/or program fees. Institutional aid equal to what students receive for the semester at Babson College may be applied (for current Babson grant recipients). Further, federal/state aid equal to what students receive for the semester at Babson College (for current federal/state grant recipients), may be applied.

Additional financial aid resources are available through the Babson College Student Financial Services and the U.S. Department of Education.

Scholarships and Grants
Babson Scholarships and Grants
There are education abroad grant and scholarship opportunities available at Babson. Grants will be offered to students participating in Babson approved programs to help with the cost of the program. Students must be current Babson Level Grant recipients or full-tuition scholarship recipients. Typically, the stipend amount is $1,000 for a semester program and $2,000 for a Babson Elective Abroad. Effective with the 2010-2011 academic year, the cumulative limit for stipends is $3,000. Therefore, a student can receive a stipend for a Babson sponsored semester program and for an Elective Abroad if they meet the criteria above.

In some instances, Babson education abroad programs also offer program-specific scholarships or grants which are available only to students enrolled in that program.

External Scholarships and Grants
In addition to Babson-sponsored scholarships and grants, there are many regional and national scholarships offered by external organizations that you may apply for in order to fund your education abroad program. You may need to meet special requirements to qualify for these awards.

For a list of suggested scholarships, grants and resources, please consult the Scholarship and Grant Information.

Community-Based Funding
Resources in your home town may prove to be a valuable component of your search.

Make a list of potential organizations, clubs, and businesses you could contact such as:

• Service Clubs - Consider Rotary, Lions, Kiwanis, etc.
• Town Hall - Go to your town hall and ask if there are any local scholarships or grants you can apply for.
• Chamber of Commerce - Visit the Chamber of Commerce to see if there are any opportunities there. Use them as a springboard to locally-owned businesses.
• Local Newspaper - Demonstrate your writing abilities to them.
• Your High School - Go to the guidance department of the high school you graduated from and inquire.
• Religious Organizations - If you belong to a church, synagogue or other religious organization, ask the person in charge of finances if there are any scholarships, grants or loans available.
• Family Employers - Ask your parents and other members of your family to check at work and see if their company offers aid to sons, daughters, or relatives of workers.
• Your Employer - If you hold a job, ask your boss if there are any scholarships available to workers in the company.

Set up appointments when you are home.

• You may have a better greater chance of being considered if they can meet face-to-face with the appropriate representative.
• You should also give some details about their education abroad program: where it is located, what you will be studying, and how they will integrate this program into both your course of study at Babson and into your own future.
• Be specific. Ask for help with:
  • Your airline ticket 
  • Your books
  • Required field trips

Think about ways you can give back to the community by:

• Giving a comprehensive slide show of your experience. 
• Presenting on your experience to student organizations or classes at local high schools or junior highs.
• Presenting on your experience to groups at a local community center or library.
• Writing an article or series of articles for a sponsoring organization's newsletter.