Financial Aid & Scholarships for Studying Abroad

One of the biggest concerns we hear from students wanting to study abroad is “How can I afford to go?” There are so many financial aid and scholarship options available, but oftentimes students are not aware these options exist. A new study shows that if you’re worried about cost, you’re not alone!

 

Graphic of study abroad financial cost concerns from educations.com

The increased concern over tuition fees in prospective students around the world

The findings

According to the latest report by educations.com, which tracks trends in student behaviors and concerns, tuition fees and finding the finances to study abroad is one of the major growing concerns among students in regions around the world.

Prospective students in Northern Europe are 46% more concerned about covering study abroad costs than those who have studied abroad in the past. Meanwhile, prospective students in North America show a moderate increase in concern of 33%. In Western Europe, South America and Southeast Asia, concerns have grown slightly over 20%.

The solutions – Financial aid & scholarships

Something that might surprise you: you can use financial aid to study abroad! API does accept all forms of financial aid according to approval from your home university or organization.

One of API’s biggest goals is making a study abroad experience available for as many students as possible. Because of that, we offer more than a dozen scholarships! Among them: the API STEM scholarship (for students studying science, technology, engineering or mathematics); the API Diversity Scholarship (for U.S. military veterans, a non-traditional student, a student with a disability, a minority student, and/or a LGBTQ student); the API First Generation Scholarship (for applicants who are first generation college students); and more!

You can read more about all of these great scholarship options here and also explore other scholarship options available outside of API!

API students pose in their green aprons for a Madrid cooking class

A priceless experience

Finding the funding for a study abroad experience can be stressful. Despite this, almost every API alumni we’ve talked to has mentioned how the experience overall is priceless. In addition, studying abroad really pays off in the long run! One study found that nearly 90% of study abroad alumni were able to find their first job within six months of graduation. It also found that college graduates who studied abroad earned $7K more on average than traditional college graduates. The benefits are endless!

If you’re curious about how studying abroad with API is different from other study abroad programs, click here! Happy travels!

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