Student Budgeting & Financial Preparation
Your SIT Study Abroad Program
Although cost is only part of the calculation when choosing the best SIT Study Abroad program for you, it is often a primary consideration.
Cost Preparation
SIT Study Abroad semester and summer immersive abroad program costs include:
- Tuition: (includes medical insurance and program excursions)
- Room and Board: (includes each day of the term, including program excursions and weekends)
Other estimated cost of attendance: (not paid directly to SIT)
Each SIT Study Abroad program page will have many of these estimates indicated. If you have a specific question, [email protected] can also help you with cost estimates. Students, study abroad and financial aid offices will also be able to take the following costs into account when reviewing the total cost of an SIT Study Abroad program:
- Passport: typically estimated at $145
- Visa: cost depends on country: not all programs require a visa; your SIT Admissions Officer will be able to advise you as to the most updated costs
- Books and supplies: typically $50-$100
- International Airfare: varies from approx. $700 to $2000
- Required Vaccines: varies from $0 to over $1000
- Personal Spending: varies depending on program and individual student spending: typically $880-$1200
Using Your Home School Financial Aid
This may be the most important part of your financial planning:
- Your international programs or study abroad/off-campus studies office should be your first contact: You will also want to reach out to your academic advisor.
- Discuss how an SIT Study Abroad program will fit into your academic career
- Discuss parameters regarding financial aid and funding, including how an SIT Study Abroad program is billed to you and/or your school
Your financial aid office can help you determine what can be transferred from your school’s financial aid package to use towards SIT Study Abroad and may include:
- Federal Financial Aid (may include grants and loans) – for US citizens or eligible noncitizens
- Institutional Aid (this may or may not be available towards SIT Study Abroad)
- Outside grants or scholarships such as Posse, SEO, Jack Kent Cooke – or similar
Transferring Financial Aid – SIT Study Abroad
Other Funding Sources – SIT Study Abroad
Financing Resource for College/University Funding
Consumer Financial Protection Bureau (CFPB): a US government agency regulating a number of consumer financial products and services; includes tips on How to pay for college.
General Financial Literacy
- Although geared towards a variety of age groups, Jump$tart Clearinghouse, is an online library of helpful resources sourced by a non-profit organization.
- Federal Deposit Insurance Corporation (FDIC): a US government agency website which includes free resources and tools including the Money Smart for Adults financial education program.
Timing is critical to your SIT Study Abroad participation and you are encouraged to start planning and saving early! Reach out to your family, community members and friends. Consult with your allies both on and off-campus. Your best supporters are often in your closest circles.
Feel free to reach out anytime to [email protected] with your questions and concerns.