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Finances

The information and resources below will assist you in understanding the financial aspect of study abroad.

Budget, Financial Aid, and Billing

Use the OIP comprehensive budget sheet, which includes billable and non-billable costs. To find a program budget, locate your program using the program search tool. The budget sheet will be listed at the top of the program's brochure page directly under the  Program Sponsor. If there is no budget listed for the current term or it has not been updated to reflect the most recent figures, please know that all of these should be available by mid-semester. 

If you have questions about your individual financial aid package and how it applies to your study abroad costs, contact the  Office of Financial Aid after your admission to the program. They will review your financial aid package in light of the study abroad charges (see below). We also encourage students to look at scholarship options through Wofford and their partner programs (see program links below) for possible sources of funding. 

Students are billed by Wofford during the regular billing cycles via their online accounts.  Fees are not final until ALL charges have been received from the study abroad program.  Final charges for additional housing or course-specific fees are not received until several weeks after the semester has begun.  Any changes either from the program sponsor or financial aid will result in a  revised bill from Wofford.

Below is an outline of the billing to Wofford vs. on-site expenses and pre-departure costs paid directly by the student. See the program budgets for specific billable vs. estimated on-site expenses.  

Program fees paid directly to the partner program include:

  • Application fees range from $25-$75 and are typically waived for Arcadia, CIEE and IES for online applicants.
  • Program deposits range from $300-$2,500 and are reflected as a credit on your Wofford invoice.  In addition to the program deposit, students are responsible for the Wofford reservation deposit to confirm enrollment upon return from study abroad.
     

Program fees paid directly to Wofford College include:

  • An administrative fee, 15% of the billed program fee (capped at $4,000).
  • Tuition (see program website).
  • Room and board (see program website).
  • Housing deposits (if required, see program website).
  • Mandatory program insurance (if required, see the program website).
  • Wofford international insurance ($40 per month, not required for CIEE, IES, and SIT).
  • Visa fees (if processed directly by the program, DIS and a few CIEE programs).
     

Pre-departure and on-site expenses to be paid by the student include:

  • Airfare and other travel costs (check Kayak or other travel sites for estimates from your location).
  • Passport ($145 passport + $15 photos = $160) 
  • Consular and visa fees (see program estimates and add travel costs, if a personal visit is required).
  • Additional meals (may vary by housing type).
  • Cell phone ($100-150).
  • Local transportation.
  • Educational travel ($350, if no optional field trips estimate given).
  • Independent travel ($1,000, except $750 Latin America and China, $350 SIT programs and $150-$300 summer).
  • Personal expenses (see program estimates).


Students who participate in the TuitionPay payment plan may continue making their regularly scheduled payments to TuitionPay. Once billing has been received from Wofford, necessary adjustments will be made to the plan to accommodate the program costs whether by increasing/decreasing your monthly payment.

Partner Program Financial Information and Additional Scholarship Opportunities 

Wofford partners have the most up-to-date financial information available on their websites. Many partners also offer financial aid and scholarships to qualified students. Consult the appropriate web information for details about program costs and financial aid eligibility and requirements. 


Interim and Additional Tuition Fees   

Students whose semester programs overlap with Interim may use their Interim tuition fees and/or scholarships toward their study abroad costs. Students who study abroad during the semester but return for Interim at Wofford will have the costs for Interim added to their invoice. Some Interim projects may also have additional fees for course materials and all travel/study Interim projects have additional fees for travel charges, etc., so students should plan accordingly. Also, students who are applying for travel/study Interims are held to the same deadlines, so they should plan ahead for getting deposits sent in their absence.

Payment Requirements 

  • All payments must be received by the due date noted on the Wofford invoice. 
  • Payments are not remitted to the program sponsor until fees have been paid in full.
  • Failure to submit payments by the deadline will result in no academic credit being awarded for the program.
     

Financial Aid/Scholarships/Grants/Awards 

  • Aid packages are credited as usual toward your Wofford invoice. Financial Aid uses the budget provided by the Office of International Programs to determine exact amounts.
  • Any aid that results in an overage will be refunded and mailed to the student’s home address upon finalization of financial aid and registration (around mid-semester). 
  • Awards directly from the program are reflected as a discounted tuition amount and are not shown separately as a credit.
     

Managing Expenses Overseas   

Fluctuations in currency exchange rates and inflation must be considered in preparing a budget. In general, the cost of living as a student abroad is comparable to the U.S.; however, the exchange rate, the added cost of independent travel, along with the impulse to splurge, make careful budgeting imperative. Talk with study abroad alumni and on-site program staff for suggestions for managing expenses. Check the latest currency exchange rates. 

Credit Cards   

Former participants in study abroad programs have found Visa credit cards convenient. Visa is accepted almost everywhere for purchases (restaurants, merchandise, local travel). Make sure someone at home will pay your bill. Have a power of attorney drawn up, if necessary. Call your bank to inquire about using your debit (or Visa Check) card abroad and restrict it to PIN use, if possible. Also, make sure you have a numeric PIN overseas for your credit card. Cards with a chip are also now required in many countries. Make sure your bank and credit card companies know that you will be traveling abroad so they do not put a hold on your card for "suspicious activity." Check on transaction fees for purchases abroad on any cards you plan to use abroad; these can range anywhere from a 1 to 3 percent, as well as a $5 international withdrawal fee. See if there are partner banks in your study abroad location that does not levy such fees. Shop around for other credit or debit cards if you are not happy with your current international fees structure.