Think You Can’t Afford To Study Abroad? How To Pay For It.

By Sasha Bulatskaya | Published on March 9, 2026

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Are you dreaming of studying abroad but worried about how you will pay for it? The good news is that you don’t have to come from a wealthy background to immerse yourself in another culture as you work toward college credit. There are options available to help you fund your educational adventure.

Can You Get Student Loans To Study Abroad?

While student loans for studying abroad might seem like a good idea, they’re not your only choice. There are grants and scholarships that you can use to fund your semester abroad, and there are ways to pay for study abroad with both federal student loans and private student loans.

Can I Use Federal Loan Programs To Study Abroad?

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If you currently have federal student loans, you could use them for study abroad programs approved by your school. All U.S. students must meet the eligibility criteria to use their federal loans for study abroad and contact the financial aid office at their American university to ask for clarification.

For those with federal student loans, it’s important to understand the specific rules and regulations surrounding study abroad programs. First and foremost, ensure that your chosen program is approved by your school. Once confirmed, you’ll need to submit an application for financial aid, just as you would for any other semester at your home institution.

You must fill out the FAFSA to take advantage of federal study abroad benefits. If your school doesn’t participate in federal student aid, unfortunately, you won’t be able to use these programs.

How Do People Afford To Study Abroad Without Loans?

You can and should turn to grants and scholarships to cover an international education experience. Because grants and scholarships are essentially free money you don’t need to pay back, it’s an ideal way to get the funds you need.

The catch is that not all grants and scholarships cover study abroad. You might need to research to find the ones that will pay for international study.

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How To Find For Scholarships For Study Abroad

There are millions of scholarships out there, but finding the right one can feel overwhelming. You can take the stress out of your search by using a scholarship and grant search site.

How To Find Grants For Study Abroad

To qualify for federal grants, you must first fill out the free application for federal student aid (FAFSA). In addition to federal financial aid from the Department of Education, there are several grants available specifically for study abroad programs, including:

• Benjamin A. Gilman International Scholarship and the Fund for Education Abroad for undergraduate students

• AIFS Abroad Grants and Scholarships for all students

• The Global Access Travel Grant is for students who want to gain professional skills

If you qualify for federal grants, you may be able to use them to fund your higher education abroad, but you’ll need to check with your financial aid office first.

To maximize your chances of securing a grant, pay close attention to eligibility requirements, deadlines, and application instructions. Craft a compelling personal statement and gather any required documentation. Grant can be competitive, so make your application stand out by showcasing your passion and commitment to your chosen program.

Can I Use My Private Student Loans For Study Abroad?

Private student loans can be a good option if you don’t have federal student loans or need additional funding. Private lenders understand the significance of studying abroad, and some may offer study abroad loans tailored to help students finance higher education overseas. Private student loans for studying abroad will have different repayment options and rates from federal loans, so review them carefully.

Before securing a private student loan, it’s essential to research and compare different lenders to find the best fit for your needs. Look for lenders that offer favorable interest rates, flexible repayment options, and excellent customer support. Be sure to read the terms and conditions carefully before making a decision. Remember, borrowing responsibly is crucial to avoid future financial stress.

Does Earnest Pay For Study Abroad Expenses?

At Earnest¹*, we pay for 100% of school-certified costs, including study abroad, books, tuition, electronics, and rent. So yes, if you are a client, you can use your Earnest loan to pay for study abroad costs. You can check your eligibility for an Earnest student loan in a few minutes and it won’t impact your credit.

If you’re an international student who is not a U.S. Citizen and you’re looking for a loan to fund your studies in the U.S., we also offer international student loans for graduate students.

Make A Budget Before You Leave

Once you know how you’ll be funding your international study experience, create a budget for yourself. Include these items in your budget:

• Tuition
• Housing
• Books and supplies
• Airfare
• Passport or visa
• Food
• Health insurance
• Personal expenses, like clothing or entertainment
• Transportation, like buses and trains
• Excursions or trips
• Any other living expenses, like utility bills or laundry

Remember that your cost breakdown might look very different in another country. It’s always a good idea to do a quick search to find out the average amount a student can expect to spend each day.

Create A Rich College Experience

Studying abroad can be an enriching and life-changing experience, and financing shouldn’t hold you back from pursuing your dreams. Take the time to explore and research your options, whether it’s student loans for studying abroad or financial aid. With the right financial plan, you’ll be on your way to an exciting educational adventure.

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About the Author

Sasha Bulatskaya

Sasha is the Senior Manager of Brand and Content at Earnest. She has been writing for ten years and has been focused on educational finance and financial aid for over three. Her passion for mission-driven companies brought her to Earnest in 2020, and she's been helping make student finance more accessible ever since. She strives to demystify personal finance and student loans to help borrowers make the best decisions for their financial situation.

Disclaimer

This blog post provides personal finance educational information, and it is not intended to provide legal, financial, or tax advice.