Tips for Cutting Costs
- RIT/
- RIT Study Abroad/
- Costs and Scholarships/
- Tips for Cutting Costs
Often students assume that studying abroad is cost-prohibitive or is more expensive than studying at RIT. However, study abroad program costs vary dramatically by the program due to length, number of courses, location, etc.
Programs and Aid
- Short-term RIT programs (faculty-led or global campus summer programs) may be offered at a discounted RIT tuition rate, but you may be eligible for less financial aid.
- While longer programs will have increased costs for housing, etc., you will likely have more access to RIT financial aid and other scholarships than short programs.
- Consider applying for a fully funded fellowship program. While these are competitive awards, if you meet the eligibility requirements and have a strong application, your program could be partially or fully funded (including the cost of your flight and a living stipend).
Plan Ahead
- Start a study abroad savings plan before you travel. Set aside a certain amount of money each week or month before going abroad so you have money saved to spend on your living and entertainment costs.
- Study abroad scholarships have varying deadlines and may only be open for applications once a year, so planning for a study abroad program a year in advance will ensure you can meet scholarship deadlines.
- Before you arrive, research things you would like to see and do in your potential host country. Get an idea of costs to set a budget for yourself before you leave.
- Check StudentUniverse for flights that offer discounts specifically for students.
Consider Locations and Cost of Living
- The cost of living varies dramatically by location, so consider a more affordable destination (ex. Eastern Europe vs. Western Europe, Latin America vs. Europe).
- Many RIT study abroad providers may offer programs to the same location or international university. Be sure to compare costs and access to scholarships between these providers.
- Consider a homestay for housing. Homestays are a great way to immerse yourself even more into the culture of your host country by living with a local family. Homestays typically include some or most meals, which lessens your in-country spending.
- To help estimate the cost of living in your potential host country, use the research and comparison tool Numbeo, which can help you see the general costs of meals, groceries, transportation, etc.
- Check the USD exchange rate for the local currency of the country you are interested in traveling to. Using a currency converter like Onada.com will help you see if the exchange rate will be in your favor.
While Abroad
- Take advantage of student discounts when you are abroad. If you have the opportunity, inquire about a local, temporary student ID from your study abroad program or get an international student ID (ISIC) card, which will save you money on transportation and entertainment.
- Stick to a monthly budget. Allocate a certain amount for your expenses: books, eating out, groceries, rent, travel, transportation, and miscellaneous costs. Your monthly expenses might differ, but this will help you stay accountable. You could also use a personal expense app to track your spending, which helps you visualize how much you’re spending and reminds you to review your goals.
- Keep a couple hundred dollars (or a separate credit card) set aside as an emergency fund for unexpected costs.
- Spend more of your weekends exploring your host city instead of traveling to other countries and cities nearby.