Money Matters
Money Matters While Abroad
Studying abroad provides a wonderful opportunity to explore the world, but it is not without financial considerations. At MSU we offer tuition exchange programs with partner univerities through our MSU Direct Exchange program (DEX), and through our partnership through ISEP Exchange. Tuition exchange programs allow MSU students to pay MSU tuition, and any MSU or MUS scholarships apply during their term abroad. Additionally, there are other ways to lower the costs of studying abroad. Please scroll down to read how financing, billing, and budgeting factor into your study abroad plans.
Questions? Please email [email protected] or stop by our drop-in advising hours.
Budgeting Your Costs
When budgeting for studying abroad it is important to consider your personal spending habits, your program costs, airfare costs, the cost of living in your host country, and the host country exchange rate.
It is important to research your host country costs with your spending habits in mind. The internet is an excellent resource for cost of living and travel information and expenses. Here are two sites we use when helping students budget for study abroad:
In addition to planning a budget for your educational and living expenses, make sure you also have a plan for how to access your money from abroad.
Financial Aid
Federal financial aid and loans may be used for participation on most semester and yearlong study abroad programs. Financial aid awards can be adjusted for the term abroad based on the study abroad program cost, this includes the program fee, room and board, transportation, and living expenses. Please work with your study abroad advisor to complete a Study Abroad Budget Form and submit it to the Office of Financial Aid Services.
It is possible to set up a tuition payment plan for tuition exchange study abroad programs. In order to set up atuition payment plan, contact MSU Student Accounts at (406)-994-1991.
Billing and Payments
How a student is billed for their study abroad experience will depend on the type of program they are doing. Below is a brief chart that explains the billing process and associated fees.
| Program Type | Tuition and Fees | Room and Board | MSU Scholarships Apply? | Application Fee | MSU Study Abroad Fee | Payment Deadline/Cycle |
|---|---|---|---|---|---|---|
| Direct Exchange (DEX) | MSU tuition & fees paid to MSU through Student Accounts | Paid to host university (with the exception of programs in Africa) | Yes, most apply | $50 MSU study abroad fee per term | $150 | Standard MSU billing time - Visit Student Accounts for more information |
| ISEP Exchange | MSU tuition & fees paid to MSU through Student Accounts | Cost of a double-occupancy dorm room and silver meal plan; Paid to MSU through Student Accounts | Yes, most apply | Application fee paid online to ISEP | $150 | Standard MSU billing time - Visit Student Accounts for more information |
| ISEP Direct | Program cost paid to program provider (ISEP) | Depends on program; paid to program provider (ISEP) if applicable | No | Application fee paid online to ISEP | $150 | $150 due on standard MSU billing; other amount deadlines vary by program |
| CCIS | Program cost paid to MSU through Student Accounts | Depends on program; may be paid directly to host university or to MSU | No | $50 MSU study abroad fee per term | $150 | Standard MSU billing time - Visit Student Accounts for more information |
| Faculty-Led | Program cost paid to MSU through student Accounts | Paid to MSU through Student Accounts | Depends on program | $300 enrollment deposit to be paid online at time of application. | Payment deadline will vary by program term | |
| Direct Enroll | Program cost paid to host university or program provider | Paid to host university or program provider | No | $50 MSU study abroad fee per term | $300 | $300 due on standard MSU billing; other amount deadlines vary by program |
Scholarships
You are encouraged to apply for study abroad scholarships from a variety of sources, including your study abroad program and outside organizations.
Bracken International Fellowship
Scholarships awarded by JJCBE for international activities for formally admitted Business students. Funding varies from year to year, but typically several scholarship of up to $1,500 are awarded during the academic year. Visit the MSU Scholarship Opportunities website for more information and to apply.
Richard W. Cuniff Study Abroad Award
Two $1,000 scholarships will be available each academic year by the Office of International Programs to JJCBE students, based on the following criteria:
- Montana Resident
- Enrolled in the Jake Jabs College of Business and Entrepreneurship
- Demonstrated financial need
- Minimum 2.5 cumulative GPA
For more information and to apply, visit the MSU Scholarhip Opportunities website. Email [email protected] for the current application deadline.
International Education Experience Scholarship
This $1,000 scholarship is for EHHD students to use towards international educational travel with any MSU study abroad or EHHD sponsored program. Visit the MSU Scholarship Opportunities website to learn more.
The Undergraduate Scholars Program provides support to undergraduate students in all disciplines to pursue research, scholarship, and creative projects. Students can apply for a USP grant that will support their international research during an exchange or study abroad program. Visit the MSU Scholarship Opportunities website to learn more.
The National Alpha Lambda Delta Council offers 20 study abroad scholarships annually. Applications for the James G. Stemler Study Abroad Scholarship are submitted first to MSU, then put forward to the National Council for final review. Award amounts of $1,000 and $2,000 are available. For more information, contact the ALD MSU Chapter President or Faculty Advisor. Students must be members of Alpha Lambda Delta to be eligible.
The Minerva "Tommy" Morgan Scholarship is awarded every semester to deserving MSU students to help fund the cost of travel for studying abroad. Award amounts vary. Visit the MSU Scholarship Opportunities website to learn more.
Asia
Freeman-ASIA provides scholarships for US undergraduate students with demonstrated financial need to study in East or Southeast Asia. Award amounts vary depending on length of study, up to $7,000. Click here for more information.
Scholarships accessible to US students seeking international experiences in the Asia Pacific region. Click here for more information.
Europe
GoEuro is a travel platform designed to help international students find and book the best travel options within Europe. Every year GoEuro awards three individual scholarships to students studying abroad in Europe. For more information and to apply click here.
Australia
Sponsored by the Australian government, these awards offer support to international students to undertake study, research or professional development in Australia. Click here for more information.
Western Sydney University is offering a full accommodation scholarship.
- Only available for Fee-Paying Direct Enroll Montana State University Students applying to WSU.
The scholarship will the total cost of 24 weeks of non-catered accommodation at the University's Parramatta, Penrith or Bankstown campuses for any semester in 2018. Click here for more information on WSU study abroad programs.
Click here to apply. Questions about the scholarship email [email protected].
Germany
Several MSU direct exchange (DEX) partners in Germany are located in the Baden-Württemberg region, providing MSU students access to apply for a monthly stipend (€250/month) for exchange at the following institutions:
- Hochschule Ravensburg-Weingarten - University of Applied Sciences
- Universität Stuttgart
- University of Tübingen
To learn more about this stipend opportunity, please schedule an appointment with the Europe study abroad advisor. For general information on the Baden-Württemberg Scholarship, click here.
Highly qualified undergraduate students are invited to apply for scholarships funding study, senior thesis, research and/or internships in Germany. The goal of this program is to support study abroad in Germany and at German universities. Click here to learn more.
Ireland
As part of the global initiative, Generation Abroad, the University of Limerick is providing 100 €500 scholarships per year to students. Eligible students will be studying STEM fields. Click here for more information and to apply.
Japan
Funded by the US-Japan Bridging Foundation, American undergraduate students participating in study abroad in Japan have access to $2,500 scholarships. Click here to learn more and apply.
The Japanese Government offers several scholarships annually to US citizens living in Washington, Montana, Idaho, Oregon, and Alaska, through the Consulate-General of Japan in Seattle. These monthly stipends range from $1,000 to $1,400 to support research and/or study abroad in Japan. Click here to learn more and apply.
For students interested in economics and international finance, Morgan Stanley provides a $7,500 scholarship for an academic year of study in Japan. This scholarship is available through the Bridging Scholarship. Click here for more information.
New Zealand
Scholarships for US citizens and residents participating in study abroad programs in New Zealand. Awards range from $500-$2,000. Click here for more information and to apply.
Go Overseas and Education New Zealand have partnered together to provide a $15,000 scholarship to study abroad in New Zealand in Spring 2017. Application deadline is October 7, 2016. Click here to learn more and apply.
For international students enrolled at an overseas university that has a Study Abroad agreement with the University of Waikato and who are intending to enroll as a Study Abroad student in the Faculty of Arts and Social Sciences at the University of Waikato in A or B Semester 2018. Value: up to NZ$1,500. Click hereto learn more and apply.
Norway
Through Sons of Norway, this fund promotes the cultural exchange between Norway and North America, which scholarships available to US citizens who plan to explore an interest in the Norwegian heritage or modern Norway at an institution of higher learning. Click here to learn more.
The Gilman Scholarship Program aims to diversify the kinds of students who study and intern abroad and the countries and regions where they go by offering awards to US undergraduates who might otherwise not participate due to financial constraints. Students are eligible if they meet the following requirements:
- Be eligible or receiving a Federal Pell Grant for term abroad
- Applying or accepted to participate in an accredited study abroad program that is at least 4 weeks in one country
Since 2012, 16 MSU students have been granted a Gilman for their study abroad experience. To learn more about this program, click here, or schedule an appointment with a study abroad advisor.
Boren Scholarships provide funding opportunities for US undergraduate students to study less commonly taught languages in world regions critical to US interests and underrepresented in study abroad. These regions include Africa, Asia, Central and Eastern Europe, Eurasia, Latin America and the Middle East. Maximum awards range from $8,000-$20,000, depending on length of study. Click here to learn more.
The CLS program is a fully funded summer overseas language and cultural immersion program for US undergraduate and graduate students, with the goal of broadening the number of Americans studying languages deemed critical to the US. To learn more, click here.
The Fund for Education Abroad seeks to increase access to study abroad through scholarships for underrepresented students going abroad or for non-traditional study abroad destinations. Scholarships of up to $10,000 are available. Click here for more information.
All students studying abroad are eligible to apply for this $500 scholarship funded by Go Overseas. Click here to apply.
All students applying to study on an International Student Exchange Program (ISEP) and can demonstrate financial need are eligible to apply for this $500 - $2,500 scholarship. Click here for more information and application instructions.
All students applying to study on a College Consortium for International Studies (CCIS) program are eligible for CCIS scholarships. Click here for more information and application instructions.
IIE Generation Study Abroad Travel Grants are intended to diversify study abroad and to encourage students to go abroad who would otherwise not participate in an international experience as part of their college education, especially in support of high-achieving, low-income students. The Travel Grants can be used not only for travel to and from the country of study, but also within the region. In this first year, IIE will offer 100 grants of $2,000 per student. Click here to apply.
The American-Scandinavian Foundation (ASF) offers fellowships and grants to individuals to pursue research, study or creative arts projects in one or more Scandinavian country for up to one year. Applicants must have completed their undergraduate degree by the start of their project. Click here for more information.
The Blakemore Freeman Fellowships fund an academic year of advanced language study abroad of Chinese, Japanese, Korean, and selected Southeast Asian languages. Applicants must have at minimum at bachelor's degree and have completed at least three years of study of the language at the college level by the start of the grant. Click here for more information.
The Fulbright U.S. Student Program provides grants for individually designed study/research projects or for English Teaching Assistant Programs. Applicants complete a process that begins at Montana State University.
Please feel free to call the Honors College* office at (406) 994-4110 to schedule an appointment with Dr. Ilse-Mari Lee, Fulbright Program Adviser, to learn about this process. Prior to meeting, please thoroughly research the Fulbright grant/s that best suits your future plans, language skills (if applicable) and academic preparation.
*Applicants do not need to be in the Honors College to apply for a Fulbright.
Marshall Scholarships finance US citizens of high ability to study for a graduate degree in the United Kingdom. Open to those who are completed their undergraduate degree with a minimum 3.7 GPA, this scholarship provides full funding for a two year graduate degree. Click here for more information.
The Peace Corps is open to US citizens who are motivated to spend 2 years volunteering in designated Peace Corps countries. Extensive training is provided, including language training, prior to volunteers going to assignment. Click here for more information.
The Schwarzman Scholarship provides motivated students with a full year immersion program at Tsinghua University in Beijing, China, during which time they will receive a Master's degree in Public Policy, Economics and Business, or International Studies. To learn more about this opportunity, click here.
Just like with funding opportunities for college studies, there are hundreds, if not thousands, of funding opportunities available for study abroad. Use the following websites to search for other scholarships and grants, keeping in mind that many study abroad program providers have scholarships for specific programs. Do your research, and if you have questions, schedule an appointment with a study abroad advisor.
More questions? Visit us during Study Abroad Drop-In Advising or email [email protected]