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 £6,000 to £12,000.
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 look at the fact sheet.
There is also 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.
The Global Opportunities & Exchanges team cannot contact your provider on your behalf. It is your responsibility to contact them for information or guidance.
External scholarships & awards
Some external scholarships and awards are available.
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 and also 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 additiona' 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 2017/18 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)
- Financial Guarantee
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.