No traveler should carry large amounts of cash, but it is a good idea to change a small amount of money into the foreign currency before you arrive in your host country. You can change money at any international airport; however, the exchange rates and fees are not the most favorable. You can carry the rest of your money in the form of traveler's checks, credit cards, and/or an international bank draft or bank check, drawn in the currency of your host country. Check with your program or with the international office at your host university to find out the best way to transport your money to your particular host country.
Read more »
Managing your money abroad can be challenging, thus the importance of advance planning. Before you go, pay attention to the exchange rate between the U.S. dollar and the currency of your host country, and learn to think in the foreign currency. Keep in mind that the amount of money you spend ultimately depends on the lifestyle you choose. One returned study abroad student noted, “I would even make a direct relationship here: the less money you spend, the better the experience. The more money you spend, the more you alienate yourself from the experience and miss a main point of the program.”
Keep reading
Studying abroad can cost somewhat less, about the same, or much more than staying at your home institution, depending on a number of factors, including your own spending habits! The cost of a program is usually based on the type of program, tuition at the sponsoring or the host institution, services (such as field trips, resident director, etc.) and other factors, such as exchange rates and the cost of living in your host country. Keep reading »
