Change in Financial Structure of Study Abroad
By: Richard Menard, Study Abroad
The Study Abroad Office, with oversight from the Academic Vice President’s Office, has recently changed the financial model for sponsored study abroad programs. Gonzaga University allows students to use their institution scholarships and financial aid abroad on our sponsored programs. These awarded funds are based on the current cost of attendance at Gonzaga: tuition, housing, and meal expenses. With the old financial model for study abroad, some of our students were being awarded scholarships and financial aid packages that far exceeded the actual cost of their study abroad program.
In an effort not to reduce students’ award packages, and continue allowing them to use their awards towards study abroad, we needed to change our financial model. Below are the published prices of the study abroad programs for the 2015-2016 academic year. The cost includes the student’s tuition, housing, meals, excursions, insurance, etc. The overall price will vary depending upon where a student is going to study. For many students, the price to attend these study abroad programs is still cheaper than a standard semester at Gonzaga (tuition, on-campus housing and meals). Alternatively, some programs are equal to Gonzaga’s cost, and in two locations, the program costs are significantly more.
We discovered if we allow students to go straight to a program without scholarships, or we charge them Gonzaga tuition and allowed students to take their scholarships abroad that they actually pay a similar price for programs either way. Gonzaga University’s goal is to send 50% of its students to study abroad by the time they graduate. The new financial model will allow Gonzaga University to continue to send students abroad for many years to come.