Financial Matters
Prepare a budget for the duration of your study abroad program, and plan in advance how you will manage your financial aid resources while abroad. You may want to speak with student who returned from a study abroad program at your destination to estimate cost of housing, food, books, phone communications, travel and other expenses.
Financial Aid is portable for study abroad. In most cases, you will be able to apply most or all of your financial aid package to your program of study. If you are receiving financial aid, please meet with your Financial Aid Officer at least three months before you plan to leave to ensure that you take all the necessary steps to be able to use your financial aid for study abroad. In preparation for the meeting with your Financial Aid Officer, gather information about tuition, fees and cost of living for the study abroad program in which you are planning to participate, as well as the information on cost of the air fare and any other costs pertaining to the study abroad that you will be undertaking. In addition, you will need to fill out Study Abroad Financial Forms and bring them to your meeting. You can obtain these forms from the Financial Aid Office, 11-320, or from the Global Education Office, 12-189.
For more information visit: http://web.mit.edu/finaid/fin_aid/.
Please visit the scholarships section of this website for more information regarding undergraduate study abroad funding and post-graduate fellowships.
Whether or not you receive financial aid, please see the appropriate Student Accounts Officer well in advance of your departure. Student Account Officers have students assigned based on the first letter of each student's last name:
A-G: |
H-O: |
P-Z: |
If any questions arise while you are away regarding financial matters in relation to MIT, the Student Financial Services Office welcomes collect calls from students studying outside of MIT. Please contact one of the representatives based on the first letter of your last name (see Student Accounts above).
Please remember that the Financial Aid Office will not post your financial aid proceeds until your outside institution verifies your enrollment for the period that you are abroad/away. If you have questions about financial aid while you are away, please contact the Financial Aid Office.
Plan to take several forms of funds (i.e., credit cards, cash, travelers checks) with you because you may not be able to use certain types of payment in certain places. Consult currency conversion websites for currency exchange information such as: http://www.xe.com/ucc/.
