Finances

One of the most common perceived roadblocks for studying abroad is the cost. The type of the program, length, and location are all factors in determining the cost of a program. We can provide information to help you choose a program that is academically appropriate and within your budget. 


How to Pay for Study Abroad
Affordability is a factor in selecting a study abroad program. In some cases, the cost to study abroad can be less than or equal to a semester here at Rutgers University. Each program page has a breakdown of the costs associated with it.

You are encouraged to attend an online finance workshop to understand the basics of the costs associated with studying abroad with Rutgers University. After watching the webinar, we encourage you to review scholarships and contact us if you have any questions. 

Attend a Finance Workshop >


Financial Planning Worksheets
Early financial planning is important when considering an abroad program. It is important to know how much you may spend to go abroad and when those expenses will need to be paid. The worksheet will guide you to understand all the costs associated with studying abroad, how financial aid can be used, how to cover the expenses, and the timeline of expenses. 

Semester Financial Planning Worksheet
Winter Financial Planning Worksheet
Summer Financial Planning Worksheet

Rutgers Global – Study Abroad Finances, international currency

Scholarships

After reviewing the costs to study abroad, it is time to start researching scholarships and funding opportunities. We highly recommend that you start researching funding opportunities at least one semester before going abroad; it is never too early. Check out our scholarship application cheat sheet

Rutgers Global - Access the World Initiative

Access the World Initiative

We are excited to announce our new Access the World Initiative! Depending on where you choose to study abroad, you may find the cost comparable or even more affordable than staying at Rutgers University for a semester. 

Learn More >

Additional Information

Billing +

The billable program costs provided on the program brochure page will be charged on the appropriate Rutgers term bill. Since Rutgers will be billing you for some of the program costs, you can use financial aid, loans, and scholarships to cover the cost of the term bill.

Financial Aid
If you are a Rutgers student receiving financial aid, normally that aid can be used to study abroad since Rutgers bills you. Reference Rutgers Student Accounting website for further information to know the type of aid posted on your award letter and how to understand it.  

If you are going abroad for the fall or spring, then the aid on the award letter will be credited on the term bill like usual for federal grants, federal loans, and certain scholarships. 

If you are going abroad for the summer, you will have to apply for summer aid with Rutgers Financial Aid online. The application is usually available in the beginning of April and you must be taking six credits or more during the entire summer in order to qualify for aid.

If you are applying for the winter, financial aid is not available and you will need to seek other funding opportunities. 

It is your responsibility to know about Rutgers Satisfactory Academic Progress and its relationship with financial aid. 

It is very important for you to check with your financial aid office regarding your current Financial Aid Award Notice and/or eligibility to increase the amount of loans you already receive in order to study abroad. You must also make sure that all documents are complete for Financial Aid to process your aid.  Please visit their website for further information and resources.  

If you haven’t applied for financial aid, but would like to, you will need to complete a free application for Federal Student Aid (FAFSA). You can access and complete this form online (http://fafsa.gov).

For non-Rutgers students, you should contact the financial aid office at your home school. In some cases, not all Financial Aid will transfer, so please be sure to double check.  It is also your responsibility to inform us of any and all financial aid that will apply to your program. Documentation, such as a copy of your award letter(s) or direct correspondence between your financial aid office and Rutgers Global–Study Abroad will be accepted. Please forward documentation as soon as possible to ensure a timely transfer of funds.


Term bills
Once accepted to a study abroad program, here’s what you can typically expect in terms of billing and payment:

1. When you have been accepted to your program, review again the study abroad policies and understand the costs associated with studying abroad. Then, you can submit your program deposit to secure your spot! Deposits are non-refundable and vary by program length and type, so check your program budget sheet. Budget sheets can be found on our site by going to your specific program’s brochure page. The deposit is a payment made towards the program and will later be credited on your term bill.
2. After you have paid your deposit, we will register you for a study abroad placeholder course that will create your Rutgers term bill. You will be notified by Rutgers Student Accounting when your bill is ready for viewing.
3. Review your term bill, review the “FAQs about Term Bills,” and then settle your bill by the due date. If you are eligible for financial aid, it will later appear on your term bill along with any scholarships 

Review the “Rutgers Term Bill Payment Instructions” and “Frequently Asked Questions about Term Bills”. They explain how to settle your term bill and answer some concerns you may have. 


Financial Aid Refunds
Refund checks are generally issued within the first two weeks of the start date of the semester at Rutgers University.  Rutgers students may sign up for electronic direct deposit or RU ScholarRefund, which will allow you to receive your refund more quickly. Direct deposit is only available for the fall and spring semesters and paper checks will be cut for the winter and summer.

It is in your best interest to sign up for the RU ScholarRefund since the funds will go directly into your bank account and this is also beneficial in the event that you’re not in-country to pick up your refund.