Education Abroad

Long boats in Venice

Preparing your Finances

Preparing your finances before you depart will minimize confusion and financial mishaps. We recommend you consider the following:

  1. Finalize your Funding Plan - It is important to have finalized how you plan to fund your experience abroad before your departure.  This may require that you work with several different providers and departments on campus, including your Education Abroad Advisor.  For "first steps" on how to begin this process, see Funding your Abroad Experience. This site also has a handy Currency Conversion Calculator and Unit Conversion Calculator for figuring out how much things will cost in your host country.
  2. Communicate your Funding Plan - It is important that you communicate your funding plan to your Education Abroad Advisor and any other parties responsible for helping you to prepare and to administer your finances.  This may include the the Financial Aid department, private banks, and more.
  3. Understand your Billing and Payment Method - We encourage you to review your billing and payment method and make the necessary arrangements that will allow you pay your bill and receive funds (Loans, Federal Aid, etc.) while abroad.  If you aren't sure of your billing and payment method, contact your advisor and we'll point you in the right direction.
  4. Provide Permission - We highly recommend you provide a trusted family member or friend permission to act on your behalf should you be unable to access accounts or pay bills while abroad.  We also recommend you provide us or another other party permission to speak with that person should they, or you, have questions.
  5. Notify your Bank - It is important to notify your bank that you will be traveling outside of the country.  Providing as many details as possible is best.  For example, provide the names of countries you plan to visit and when.  Failure to do so may result in a cancelled card or a held account.
  6. Have a Back-up Plan - Planning for the unknown is difficult; however, it is important to have thought about and prepared for as many variables as you can.  For example, a lost credit card, stolen cash reserves, etc.  How can you get cash when you need it most and no longer have access?