Costs and Financial Aid for Study Abroad
If you think you can’t afford to study abroad—think again! The Wisconsin School of Business offers at least four programs that can cost you less than a semester on the Madison campus and several more that are within about $1000 of a Madison semester. You can find cost estimates for all programs on the “Cost” tab for each at www.studyabroad.wisc.edu/business.
To assess the true cost of a study abroad program in light of all available resources, use the Study Abroad Budget Form and keep in mind that most types of financial aid can be used for study abroad.* If you already receive aid, you may qualify for additional funding based on the total cost of studying abroad.
If you don’t currently receive aid, and you think your personal and family resources are not adequate to cover the cost of studying abroad, you should submit the Free Application for Federal Student Aid (FAFSA) well in advance of your study abroad program.
- For summer programs, apply by March 1st (using the FAFSA for the following academic year)
- For academic year or fall programs, apply by June 1st
- For spring programs, apply by October 1st
Contact the Office of Student Financial Aid
for more information. Some other websites you may find useful for budgeting include:
*Semester programs that contain fewer than 15 weeks of actual instruction may not be eligible for federal financial aid in future, pending review. Summer programs must be at least four weeks long, and you must be enrolled at least half time to qualify for financial aid. See "Determining Half Time Status" at https://financialaid.wisc.edu/eligibility/ for what constitutes half time in a summer session.
Financial aid awards will be credited to your UW Madison account no earlier than ten days prior to the start of the semester on the Madison campus (five days prior to the start of a summer session); or ten days prior to the start of your study abroad program if it begins after the Madison semester (five days prior to the start of a summer session). If your program requires that you pay tuition directly to the host institution, a check for the balance of your financial aid will then be sent to the MAILING address on file in your student center, or deposited directly into the bank account you have designated for eRefunds.
For more information on financial aid:
Office of Student Financial Aid
333 East Campus Mall #9701
Travel While Abroad
Many students enjoy traveling to new places during their semester abroad, and developing a greater cultural understanding while doing so. The cost of individual travel is not accounted for in program cost estimates, since this is an individual choice outside of the academic program. The Study Abroad Travel Budget Worksheet can be useful in helping you determine the cost of additional travel outside of what the program already provides.The following budget examples show the varying levels of expense that can come with elective travel.
Study Abroad Travel Budget Sample - Budget
Study Abroad Travel Budget Sample - Medium Price
Study Abroad Travel Budget Sample - High Cost
The Wisconsin School of Business offers a limited number of scholarships specifically for study abroad, as does the UW-Madison. In addition there are a number of national study abroad scholarships for which you may be eligible. See below for further information about eligibility and applications.
The application for Business International Programs scholarships opens in early February, and the priority deadline for applying is in late February. Log in to the common scholarship application at http://scholarships.wisc.edu/scholarships for exact dates and to submit an application. Applications received after the priority deadline will be considered if any dollars remain. You will be notified of the results of your scholarship application by email, typically within about four weeks of the application deadline.
If you receive any of the following scholarships, notify International Programs to make arrangements for proper crediting of the funds:
- Chancellors Scholar
- National Security Education Program (NSEP)
- Powers Knapp
- UW Athletic Scholarship
BI Norwegian Business School Study Abroad Scholarship
BI Norwegian Business School, one of the Wisconsin School of Business’ exchange partners, is pleased to offer multiple scholarships to students studying in Oslo with International Programs for the fall 2017 and spring 2018 semesters. These scholarships are meant to help cover housing costs and will be up to 15,000 Norwegian Kroner (or roughly $2,500 USD).
All students who apply to study abroad at BI will be automatically considered for this award. The priority application deadline for fall 2017 and spring 2018 is March 1, 2017.
The Currie Family Fund in International Business
The generosity of Jon and Julia Currie provides up to two $1,500 awards to undergraduate students studying abroad through International Programs and the Wisconsin School of Business. Selection criteria include demonstrated interest (e.g., language and/or area studies coursework) in the host country, quality of application essay, commitment to learn about and share with other cultures, and academic record. Additional consideration may be given to students on exchange programs with foreign language requirements or with coursework offered in languages other than English.
Ralph and Elizabeth Ebbott Study Abroad Scholarship
This award, established by the generous support of Ralph and Elizabeth Ebbott, supports undergraduate accounting majors who study abroad through International Programs in the Wisconsin School of Business. While the amount of the award varies from year to year, past awards have ranged from $1,500 to $3,000. No application is needed; eligible students will be notified of the award after being accepted to a study abroad program.
Mary Beth Harrison Women in International Business Scholarship
This award, established by the generous support of Mary Beth Harrison, supports female undergraduate business majors who study abroad through International Programs in the Wisconsin School of Business. Successful applicants may receive up to $1000.
James C. Hickman Study Abroad Scholarship
The Wisconsin School of Business is pleased to offer scholarships that broaden the student populations that participate on a business study abroad program. With awards from $1000 to $5000, this scholarship aims to support students who otherwise would not have studied abroad. Recipients must be UW-Madison business undergraduates studying abroad for at least one semester on a program administered by Wisconsin School of Business. The primary selection criteria will be demonstrated financial need, so applicants must submit a Free Application for Federal Student Aid (FAFSA). (More information about submitting a FAFSA can be found on the website of the UW-Madison Office of Student Financial Aid). Secondary criteria include academic record, involvement, and demonstrated interest in studying abroad. This award is made possible by the generous support of the James C. Hickman Fund in International Business.
Keys to Travel Scholarship
UW-Madison undergraduates studying abroad on a program administered by Wisconsin School of Business International Programs are eligible to receive an award of up to $5000 for a semester or $2000 for a summer session. Selection will be based on applicants' academic records, involvement, and essays. Preference will be given to BBA and Certificate in Business students. Additional consideration may be given to students with demonstrated financial need. These awards are made possible by the generosity of Keys to Travel, a Keith J. Kreps Foundation, Inc. and honor the memory of Keith J. Kreps. Learn more about his story on the Keys to Travel website: www.keystotravel.org.
Julie and Lance Meyerowich Study Abroad Scholarship
The generous support of Julie and Lance Meyerowich awards to undergraduate students studying abroad through International Programs and the Wisconsin School of Business. The recipient of this scholarship shall be selected based upon financial need and merit. To be considered for this award, applicants must submit a Free Application for Federal Student Aid (FAFSA). More information about submitting a FAFSA can be found on the website of the UW-Madison Office of Student Financial Aid.
Smith International Business Study Abroad Scholarship
This award, established by the generous support of Jay L. and Patricia H. Smith, supports undergraduate international business majors who study abroad through International Programs in the Wisconsin School of Business. International Business majors who study abroad with International Programs are eligible to apply for this award, which may range from $500 to $1,000.
CIEE Wisconsin School of Business Awards
The Wisconsin School of Business partners with CIEE on a number of programs. CIEE believes that every student should reap the benefits of study abroad, and has offered generous support to help Wisconsin School of Business students access an international experience.
CIEE Ambassador Awards
This award aims to support students who will study abroad in less traditional study abroad destinations. Multiple awards will be granted for students who study abroad in less traditional destinations. Students who apply by the WSB priority deadline and are selected for CIEE programs in South America, Asia, and Russia will automatically be considered for these awards.
If needed, additional information may be requested from students who are eligible for and considered for this award. The following selection criteria will be used when selecting recipients of these awards:
- Academic record and preparedness
- Articulated and demonstrated interest in studying abroad (in a less traditional destination)
- Ability to serve as a positive ambassador of the WSB while abroad, and then of the program once returned
CIEE Study Abroad Access Grants
This award aims to support students who may otherwise not have studied abroad. Award will vary in size from $500 to $5000. Students who apply by the WSB priority deadline and are selected for a CIEE program will automatically be considered for these awards.
If needed, additional information may be requested from students who are eligible for and considered for this award. The following selection criteria will be used when selecting recipients of these awards:
- The primary selection criterion on awarding these awards will be financial need. This will be collected from the Office of Student Financial Aid. To be considered for this awards, students will need to have submitted a Free Application for Federal Student Aid (FAFSA).
- Secondary selection criteria will be reviewed as part of an application consisting of personal statements in the study abroad application and academic record include:
- Academic record and preparedness
- Articulated and demonstrated interest in studying abroad
- Ability to serve as a positive ambassador of the WSB while abroad, and of International Programs once returned (specifically to diverse communities of students who are underrepresented on campus and in study abroad).
IES Abroad Grants
Awards ranging from $500 to $1000 may be used to offset the cost of attendance for a semester at either IES London or IES Paris. Awards will be made on the bases of merit, demonstrated financial need and demonstrated interest in the destination.
Chuo Kuo-Ping Study Abroad Scholarship
The Chuo Kuo-Ping Study Abroad Scholarship is available to degree-seeking University of Wisconsin-Madison undergraduate students studying abroad on a UW-Madison study abroad program in China, Hong Kong, or Taiwan. Applicants must have a minimum 3.0 cumulative GPA. Prior study of Chinese language is desirable, but not required. All eligible students, regardless of prior Chinese language study, are encouraged to apply. Scholarship amounts vary depending on duration of program.
Students should apply through Scholarships@UW-Madison. Applicants will be considered for this award by indicating that they plan on studying abroad in China, Hong Kong, or Taiwan. Once they’ve indicated this, students should follow the instructions to complete the application, including submission of a short essay. The application deadlines are typically March 1 (summer, fall, and academic year programs), and October 15 (spring programs). Students who have not yet received official notification of acceptance to a study abroad program can still apply for this award.
Foreign Language and Area Studies (FLAS)
Foreign Language and Area Studies fellowships provide funding for students to acquire foreign language proficiency and training in area or international studies. FLAS fellowships are funded by the U.S. Department of Education and are administered by the UW-Madison’s area and international studies National Resource Centers. FLAS awards are only available for certain world languages, and are contingent on federal funding.
Scan|Design Foundation Scholarship
The Scan|Design Foundation was founded by Inger and Jens Bruun to support Danish-American relations. During their lifetime, Inger and Jens sponsored over 150 Danish interns and welcomed them into their home during their stay in America. Supporting student study in Denmark is a key program focus for the foundation.
Pending annual review, this scholarship (with an award of up to $5,000) is available to all University of Wisconsin-Madison degree-seeking undergraduate and graduate students who are U.S. citizens participating on an approved UW-Madison study abroad program to Denmark. In addition to receiving scholarship funds, ScanDesign fellows are invited to participate in a range of hosted activities in Denmark, which are organized by the ScanDesign coordinators in Copenhagen in order to help students get to know other ScanDesign fellows, Danes, Denmark, and the Scandinavian region a little better.
Students should apply through Scholarships@UW-Madison. Applicants will be considered for this award by indicating that they plan on studying abroad in Denmark. Once they’ve indicated this, students should follow the instructions to complete the application, including submission of a short essay and a letter of recommendation. The application deadlines are typically March 1 (summer and fall programs) and October 15 (spring programs). Students who have not yet received official notification of acceptance to a study abroad program can still apply for this award.
Undergraduate Academic Awards
The Office of the Provost and the Undergraduate Academic Awards Office offer scholarships for undergraduate students from all colleges and majors. You may consider applying for some awards, such as the Hilldale Research Fellowship or the University Book Store Award, which fund independent work and student/faculty collaborative research. You may be able to apply these awards to your semester abroad.
UW-Madison Study Abroad Scholarship
International Academic Programs (IAP), the centralized study abroad office at UW-Madison, administers certain scholarships that are open to all UW-Madison students studying abroad on a UW-Madison program, including those programs through International Programs in the Wisconsin School of Business. Review the IAP Study Abroad Scholarship Chart for more information.
Boren Scholarships – National Security Education Program (NSEP)
The NSEP program provides generous funding through the Boren Awards for undergraduate and graduates studying abroad in areas outside of Western Europe, Canada, New Zealand and Australia. Students in fields of study critical to U.S. national security, such as engineering, and applied sciences, business and economics, international affairs, political, policy and social sciences, and health and law, are particularly encouraged to apply.
The NSEP-Boren Scholarship for Undergraduates Offers up to $10,000 for a semester or $20,000 for a full academic year for U.S. undergraduate students to become more proficient in the cultures and languages of world regions critical to U.S. interests, including Africa, Asia, Central & Eastern Europe, Eurasia, Latin America, and the Middle East. Interested applicants are required to schedule a meeting with the UW-Madison campus representative, Matthew Geisler (email@example.com), prior to submitting their application. The UW-Madison campus deadline is November 15th for the next academic year. Further information is available on the website for these Boren Awards.
The Bridging Scholarship Program for study in Japan
The United States - Japan Bridging Foundation offers scholarships to American undergraduate students participating in study-abroad programs in Japan. Funding from private foundations and major U.S. corporations has made it possible for ATJ to award 60-100 scholarships to assist students with the travel and living expenses they will incur while studying abroad in Japan for a semester or an academic year.
Typically, Bridging Scholarship recipients receive a stipend of $2,500 (for students on semester-long programs) or $4,000 (for students on academic year programs). Students studying in Japan on summer programs are not eligible to apply. The deadline for applications for fall and spring semester students typically is in April of the previous academic year.
The British Universities Transatlantic Exchange Association (BUTEX) awards several generous £500 scholarships annually to students studying abroad for a semester or academic year in the United Kingdom. Applications are typically accepted January through May 31 for the following academic year. The award is distributed to winners after they have arrived and registered at their host university. Visit the BUTEX website for the application form and complete instructions.
Council on International Educational Exchange (CIEE)
The Council on International Educational Exchange (CIEE) awards scholarships to students studying abroad on a CIEE program. Eligibility requirements, application information, and scholarship deadlines can be found on the CIEE Scholarship webpage. Typically, applications are due by April 1 for summer and fall programs or November 1 for spring programs. International Programs has CIEE affiliated programs in Barcelona, Seville, Buenos Aires, Santiago, Sao Paulo, Shanghai, Moscow, London, Berlin, and Tokyo.
Foundation for Global Scholars
The Foundation for Global Scholars a non-profit organization whose mission is to create global citizens and leaders by assisting students in achieving their personal and professional goals of obtaining cultural and academic experiences abroad. The Foundation will support this mission by awarding scholarships to help enable students to obtain an international experience. Students who are from underrepresented populations in international education are a priority. Application details and deadlines are available on the Foundation’s website.
Freeman Awards for Study in Asia
Freeman Awards for Study in Asia (Freeman-ASIA) provides scholarships for U.S. undergraduate students with demonstrated financial need to study abroad in East or Southeast Asia. The program’s goal is to increase the number of U.S. citizens and permanent residents with first-hand exposure to and understanding of Asia and its peoples and cultures.
Grant amounts are up to $3000 for summer and $5000 for a semester. Applicants must have little or no experience in the country in which he or she plans to study.
Award recipients are required to share their experiences with their home campuses or communities to encourage study abroad by others and fulfill the program's goal of increasing understanding of Asia in the United States.
From its inception in 2001, Freeman-ASIA has made study abroad in East and Southeast Asia possible for over 4,600 U.S. undergraduates from more than 600 institutions. With generous funding from the Freeman Foundation, the Institute of International Education (IIE) is grateful to have relaunched Freeman-ASIA in 2016.
Fund for Education Abroad
The Fund for Education Abroad (FEA) is committed to increasing the opportunities for dedicated American students to participate in high-quality, rigorous education abroad programs by reducing financial restrictions through the provision of grants and scholarships. Applicants must be a U.S. citizen or permanent resident of the U.S., and must plan to study abroad for a minimum of 4 weeks in country. Application details and deadlines are available on the FEA website.
In addition to the general FEA scholarships, there is a Rainbow Scholarship that will be awarded to a deserving LGBTQ student who aims to participate in a high-quality, rigorous education abroad program.
German Academic Exchange Service
Deutscher Akademischer Austausch Dienst (DAAD) offers various funding opportunities to undergraduate students. Grant recipients receive a monthly stipend and a lump sum payment to help defray travel expenses. The application deadline is at the end of January.
Gilman Scholarship Program
The Benjamin A. Gilman International Scholarship Program offers grants for U.S. citizen undergraduate students of limited financial means to pursue academic studies abroad.
The Gilman Scholarship Program aims to support a diverse range of students who have been traditionally under-represented in study abroad, including but not limited to:
- Students with high financial need
- Students studying in non-traditional countries, especially those outside of Western Europe, Australia and New Zealand
- Students with diverse ethnic backgrounds
- Students with disabilities
Typically, the deadline for Fall and Summer study abroad falls around March 1, and the deadline for Spring study abroad falls around April 15. Complete information on applying and deadlines is available on the Gilman International Scholarship Program website.
Institute for International Education
The Institute for International Education (IIE) administers programs worldwide for students, educators and professionals from all sectors. Specifically IIE administers international exchange programs, scholarships and grants. For more information on all the services that IIE can provide please visit the IIE website.
The National Italian American Foundation
The National Italian American Foundation awards scholarships and grants to outstanding students on the basis of academic performance, field of study, career objectives, and the potential, commitment, and abilities applicants have demonstrated that would enable them to make significant contributions to their chosen field of study. Some scholarships are awarded based on financial need.
Phi Kappa Phi Study Abroad Grants
The Honor Society of Phi Kappa Phi provides study abroad grants to its members in order to help them seek knowledge and experience in their academic field by studying abroad. Applications are typically due April 1. More information can be found on the Phi Kappa Phi website.
The Rainbow Scholarship is offered up to $5,000 per semester. The Fund for Education Abroad (FEA) awards funds to students planning to study abroad on academically rigorous programs with a strong preference for underrepresented students. The Rainbow Scholarship is awarded to a deserving LGBTQ student who aims to participate in an education abroad program. To apply for the Rainbow Scholarship students must apply for the general FEA scholarship and indicate in their application that they would also like to be considered for the Rainbow Scholarship.
Typically, students must submit an application by January for studying abroad the following summer, fall and spring (e.g. there is a January 2014 deadline for students studying abroad summer 2014, fall 2014, spring 2015).
More information can be found on the Fund for Education Abroad website.
University College Dublin Quinn School of Business Study Abroad Scholarship
Students who have been accepted to the University College Dublin (UCD) semester or summer programs are eligible for this scholarship. The scholarship will cover €1,000 for fall or spring semester and €500 for the summer internship program. After having been accepted to University College Dublin’s program and officially accepting their offer for participation, students will be able to apply through the UCD online portal. The scholarship will be awarded by UCD based on responses to the application questions.