Finances will play a major part in your time abroad, especially the financial guarantee, that you will need to ensure your place on Study Abroad is confirmed.
What is a Financial Guarantee?
In order to study abroad you need to show the government of that country that you have the necessary funds to study in the host country for an academic year before you can be issued with a visa.
A financial guarantee is required by all USA universities at the overseas application stage.
The other countries require this information at visa application stage.
You need to show that you have the money to live in their country for a year.
The amount they ask for varies and can be from approximately £8,200 to £16,500.
Why do I have to provide a Financial Guarantee?
As you will be an 'international' student studying abroad, the host country needs to see that you can support yourself during your studies. They need to see actual proof that the money is available, so that they can ensure that you are not going to try and live off state funding. Also, if you left debts at the University or country, they would then be able to go to your 'sponsor' or 'guarantor' to retrieve the money to cover the debt.
Do I need to actually give the money to anyone?
No, you are just asked to show proof that in the event of the above happening they can go to the person acting as your 'sponsor' or 'guarantor' to retrieve the money. The money isn't given to anyone, you are just simply showing you have it, in the event of a large debt being left.
For more detailed information, please read the fact sheet which includes a sample guarantee letter to download, edit and use.
Student Loans, Grants and Scholarships
Any loans, grants or scholarships you are currently entitled to may be affected by taking part in Study Abroad.
Should you have any questions about any of the above for your time abroad, you should contact the provider.
Changing your loan instalments from Student Finance England
If you indicate on your Student Finance England application that you are studying abroad, you are automatically paid the first instalment 25 working days before the 'standard' course start date. In 2018/19 this was 24th September, so 25 working days before would have been 20th August.
However, if your study placement starts earlier (e.g. if you are starting in Australia or New Zealand in July) Global Opportunities coordinate with Student Administration Services so you should receive the first instalment of your Maintenance Loan on the first day of your study placement.
The standard is for you to receive your loan in three instalments, however Student Finance England offers the option of payment in two instalments by request. This is not automatically applied, so you must contact Student Administration at email@example.com, as this will be easier for you than contacting Student Finance directly. Students going to Australia will automatically receive their loan in two instalments, with the second instalment in January, as of 2019/20.
Payment in two instalments is also available for students who will study abroad in the USA, Canada, and New Zealand.
Students studying abroad in China, Japan or Russia can get the whole loan in one instalment. This is always requested for students going to these countries.
If you are sent a Course Abroad form by Student Finance England, please send it to SSiD. You can hand it in, post it to them or email it to firstname.lastname@example.org.
Student Finance Travel Grant
Student Finance offer a non-repayable travel grant where you can claim back for certain travel related costs with evidence. You can find information on what you'll get and eligibility criteria on the provider websites:
Student Awards Agency Scotland does not have a specific website with information on the travel grant.
The Global Opportunities & Exchanges team cannot contact your provider on your behalf. It is your responsibility to contact them for information or guidance.
Scholarships & awards
The University of Sheffield and external organisations offer scholarships and awards you can apply for.
Tuition fees abroad
No tuition fees are payable to the overseas university. Please be aware that some University have additional fees, standard charges or 'non tuition' fees which all students are required to pay. These may include things such as health and counselling services, students' union, student ID card, academic departmental fees etc. This will be outlined to you by the host university and you are required to pay them. If you have any queries about any additional fees, please check with the host university.
Tuition fees to Sheffield
You continue to pay tuition fees to Sheffield only. UK/EU Students abroad during 2018/19 will pay 15% of their usual tuition fees during the year abroad.
International students will pay reduced fees whilst abroad. Please contact the fees office for the exact amount – email@example.com
Please be aware that this information can be subject to change if there is a change in policy.
Additional costs for Study Abroad
- Health insurance
- Visa process
- Living costs (e.g. food, travel, socialising)
Working whilst studying abroad
If you are thinking about working during your time abroad, you need to check the webpages for the host university and also the embassy for that country.
Some universities and/or countries do not allow students to work during their stay.
You must clarify this prior to applying for your visa as you may need to declare that you want to work at visa application stage.
All questions need to be refered to the embassy for the country you are going to.