Financial Planning Can Make Study Abroad a Reality
Financial aid is portable for study abroad, and your award will be adjusted for the costs of studying abroad, such as roundtrip airfare. Students who receive financial aid at MIT are advised to discuss their study abroad plans with the Student Financial Aid Office at least one term before they wish to commence study abroad. This will help students develop the best possible financial plans for their time abroad.
Before meeting with your financial aid officer, gather information about tuition, fees, and cost of living for your particular study abroad program, as well as information on airfare and any other likely costs. In addition, fill out the Study Away/Abroad Packet and bring this to your meeting. You can obtain these forms and other information from the Financial Aid Office, 11-320.
Planning a Budget
Prepare a budget for the duration of your study abroad program, including how you will manage your financial aid resources while abroad. You may want to speak with students who recently returned from your destination for cost estimates of housing, food, books, communications, travel, and other expenses.
MIT-Managed Funding Opportunities:
The Li & Fung Scholarship is available to undergraduate MIT students through GECD to help fund Summer and IAP study abroad. The application is available on the scholarships tab of MIT-Horizons. Contact MIT Global Education for help finding the right program for you, and review the guidelines for the scholarship awardees. Find out more about the Li & Fung Foundation here.
The Kelly-Douglas Fund provides funding to MIT sophomores, juniors, and seniors wishing to travel during IAP or summer to deepen their understanding of a field in the humanities, arts, and social sciences. Awards are up to $1,000.
External Study Abroad Scholarships:
Benjamin A. Gilman International Scholarship program provides scholarship opportunities of up to $5,000 for U.S. students on Pell grants to help fund study-abroad experiences for the summer, fall, spring, or full year. In 2010, the Gilman program launched a new summer scholarship program geared especially for students majoring in science, technology, engineering and mathematics (STEM) fields.
Boren Scholarships offer up to $20,000 for U.S. undergraduate students to add an important international and language component to their educations, focusing on geographic areas, languages, and fields of study critical to U.S. interests and underrepresented. Boren also offers similar fellowships to graduate students.
Boren Scholarships launched a special summer initiative for STEM majors. The scholarships fund up to $8,000 for summer study (minimum eight weeks).
The Bridging Scholarship program provides 60 scholarships to U.S. students participating in study-abroad programs in Japan. Undergraduate students majoring in any field of study and attending any recognized exchange or independent program are eligible to apply for these scholarships. Recipients will receive stipends ranging from $2,500 to $4,000, depending on the length of their study program in Japan.
China Government Scholarships provide full funding for a select group of MIT students to study in China for one semester or one year. Interested students should contact MIT Global Education for further information.
The Critical Language Scholarships program provides seven to ten weeks of group-based overseas foreign language instruction and structured cultural enrichment experiences in thirteen critical-need languages for U.S. citizens who are students at the undergraduate, master's, and doctoral levels.
Morgan Stanley Japan will award two $7,500 scholarships to undergraduate students studying abroad in Japan who have an interest in economics and international finance. Applicants must submit an essay on a designated public-policy topic together with an application.