IAP Study Abroad Budget Worksheet by pfh17972


									IAP Study Abroad Budget Worksheet
Sometimes studying abroad is no more expensive than studying on-campus. Compare the cost
of living and attending classes on-campus with the cost of your prospective study abroad program.
The budget worksheet below can assist you with these calculations. IAP cost sheets for comparison
are available: http://www.studyabroad.wisc.edu/financial/index.html

Below is the current Cost of Attendance by Residency for UW-Madison Students.

2009-10                          Wisconsin    MN              Non-                                     Note: Summer campus costs vary
Academic Year                    Resident     Reciprocity     Resident                                 based on the length of the session
Tuition & Fees**                      $8,314         $10,138      $23,063                              and the number of credits. This is
Books & Supplies                        1040             1040        1040                              also true of study abroad.
Room & Board                           8,040            8,040       8,040
Miscellaneous                          2,310            2,310       2,310
Travel                                    580             960         580
Total                                $20,284         $22,488      $35,033
**Tuition and Fees amounts are estimates only as exact figures had not yet been determined at the time this guide was printed.
They are subject to change without notice.

So, how do you determine the cost of attendance for a study abroad program? It is the
study abroad program fee plus the Estimated Additional Expenses listed on a cost sheet.
Once you know the cost of attendance the next step is to:

*Subtract off Known Sources of Funding

Sources:                         Amount                             Available
Parental/Guardian Support
Frequent Flier Miles
Total Sources

By careful consideration of sources of income and when they are available along with campus policy regarding financial aid
disbursements, students are able to determine which sources should pay which expenses. Aid disburses 5 to 10 days before a
program starts, but does not disburse before May 15 for Summer, September 1 for Fall, or January 15 for Spring. This impacts
airfare purchases and students studying abroad in the Southern Hemisphere when programs start in July for the Fall term.

The "Expenses" chart below encompasses many of the different types of costs often associated with
studying abroad and also helps plan timely payments. Students may find this especially helpful once they have been accepted
to a program and need to start preparing for specific pre-departure, program fee, and in-country expenses and figure out to
whom they owe these expenses.
                                                               When         Paid to UW-       Paid out-of-
Expenses:                     Amount                           due/owed     Madison           pocket
Program fee
International Airfare
Local Travel
Visa, Passport, Photos
Books and Supplies
Incidentals (consider phone,
entertainment, laundry, etc)
Independent Travel
Total Expenses

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