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Financing & Budgeting for Short Term Study Abroad Programs

This guide provides an in-depth overview of financing and budgeting for short-term study abroad programs. It covers key aspects such as planning, setting prices, and identifying funding sources. Learn how to align program goals with realistic budget expectations, manage student participation, and navigate logistical challenges with overseas institutions. Explore sample budgets, deadlines, and essential inclusions for a successful trip. Whether you're an educator or administrator, this resource offers essential insights for maximizing funding and enhancing student experiences abroad.

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Financing & Budgeting for Short Term Study Abroad Programs

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Presentation Transcript

  1. Financing & Budgeting for Short Term Study Abroad Programs

  2. Overview • Planning • Budgeting • Setting the Price • Funding • Student Participation • Overseas Institutions • Questions!!!

  3. A to Z Planning • Where, When, What, Why, How…

  4. A to Z Planning (Cont) • Why • What are your objectives? • What do your students want? • Where • Where do you want to go? • Where will you start & end? • When • When will you go? • How many days? • When are your deadlines? • What • What cities will you visit • What type of accommodation is preferred? • What do you want on the schedule? • How • Who will make the arrangements? • Program provider?

  5. Budgeting by PAX 10 Day Trip, Including 3 Faculty & Stops in Australia & Fiji When to Increase Capacity… …and when not to

  6. Elements of a Budget • Inclusions • International Airfare(?) • Excursions • Some Meals • Tuition • Exclusions • Domestic Airfare • Insurance • Personal Expenses • Free Day Activities • Sample Budgets

  7. Aligning Goals & Scope With Reality • What Are Your Absolutes? • What Will You Need To Attract The Students? What Must You Have To Validate the Course?

  8. Sample Schedule

  9. Setting The Price • What To Include • Very easy to raise make the program unaffordable • Finding Affordable Additions • Academic Credit • Remember the Student Budget

  10. Funding • Financial Aid • Scholarships • www.studyabroad.com/forum/financial_aid.html • www.goabroad.com • Student Fundraising • Success Stories?

  11. Student Participation • Tips for Getting Students on Board • Plenty of time! • Study Abroad Office • Fliers, Posters,Presentations • Setting Payment Deadlines • 90 Days Minimum • Students FromInstitutions Other Than Your Own

  12. Working With Overseas Institutions • Challenges With Universityto University Relationships • Pricing • Timeliness • Holidays & OtherConsiderations • Overseas Faculty • Managing Expectations

  13. Conclusion • Handouts • Questions

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