Finances
Program Fee      Budgeting      Student Accounts      Financial Assistance      Withdrawal

Program Fee

The costs of our programs vary. For some programs, the program fee is comprehensive, covering tuition, airfare, housing, meals, and books. For other programs, the program fee may cover tuition, housing and internship placement.

To help you plan, we provide cost breakdowns for each of our programs. These cost breakdowns, sometimes referred to as “financial aid budgets”, detail what is included in the program fee, and contain information about living expenses not covered by the cost of the program.

You and your child will find it helpful to discuss a budget in advance of departure. Your son or daughter should plan to bring money to cover personal expenses and any other costs not included in the program fee. Expenses will vary depending on the student’s own standard of living and how much traveling, shopping, and dining out he or she does. The currency exchange rate is also a factor to be considered.

Access to Funds

We recommend that students exchange $100-$200 into foreign currency before leaving the US to cover initial expenses. For larger amounts, travelers’ checks are a safe and convenient way to carry funds.  Keep a list of your student’s travelers’ check numbers in case the checks are lost.

In most locations, it is possible to use ATMs (Automatic Teller Machines) to obtain local currency with a major credit card, or even with the ATM card issued by your son’s or daughter’s home bank. Students should investigate with their bank how to access their funds while abroad; the bank should be able to provide a list of available locations in the countries your son or daughter will be visiting.  Students should ask about transaction fees, and make sure their PIN (Personal Identification Number) will work overseas.

We recommend that students carry a major credit card (VISA, MasterCard, American Express) with cash advance privileges that they may use in case of an emergency. Counsel your son or daughter about the judicious use of credit cards.

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Student Accounts

Invoices are issued by Boston University Student Accounting Services, and reflect a “program fee” rather than a “tuition” charge. The invoice may reflect other account adjustments, such as a medical insurance charge and/or waiver.

Student Accounting Services sends an invoice for the program fee to the student’s permanent address.  Billing occurs in July for Fall programs, in late November for Spring programs, and in May for Summer programs.

Boston University students follow their normal schedule and procedures for account settlement.

Non-Boston University students are expected to settle their student accounts by mid-September for Fall programs, mid-January for Spring programs, and early July for Summer programs.  A specific settlement date is provided on the invoice.  Official documentation of pending loans, grants, etc. may be submitted toward account settlement. Non-Boston University students are provided with a Payment/Settlement Agreement Form for this purpose.

Certain colleges request special billing arrangements in which their students make payments to the home institution, which in turn pays some or all of the Boston University International Programs fees. Parents of non-Boston University students may wish to check with their child’s study abroad office or financial aid office to determine whether a special billing arrangement applies.

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Financial Assistance

Generally, Boston University students remain eligible for all types of financial aid awarded on campus, with the exception of Federal Work-Study awards and certain grants (Supplemental Grants) that require students to live in Boston campus housing. Tuition scholarships are based on the tuition portion of the program fee.

Parents of non-Boston University students should ask their student’s financial aid advisor whether financial assistance can be transferred.  Often, the home school will process financial aid. Non-Boston University students who wish to apply for loans through Boston University should address inquiries and send financial aid documents to Boston University International Programs, not to the Boston University Office of Financial Assistance.

Grants and Scholarships

Boston University International Programs awards a number of off-campus study grants and scholarships to eligible students. The awards are based on demonstrated financial need and/or academic merit. Non-Boston University students may apply for any term. Boston University students may apply for summer only. For more information and application forms, visit the Financial Aid section.

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Withdrawal from the Program

It is important that you familiarize yourself with the Boston University International Programs’ Policy on Refunds.

Students who decide to withdraw from a program after confirming their acceptance must notify Boston University International Programs in writing immediately. (This includes students who decide to withdraw before the program start date.) Any adjustment of charges will be made in accordance with the Boston University International Programs’ Policy on Refunds (this is a PDF file). The program deposit is non-refundable.

For personal or academic reasons, a student may decide to withdraw from the program after the term has started. If your son or daughter expresses a desire to return home, we urge you to get in touch with our office. Difficulties in cultural adjustment often can be resolved without resorting to returning to the US  Although withdrawal may be, in rare cases, the best alternative for a student, we ask you to consider carefully all aspects of the situation (personal, academic, and financial) before advising your son or daughter to return home.

Note for Parents of Boston University Students: Withdrawal from a program does not constitute withdrawal from Boston University. Boston University students who wish to withdraw from the University or take a Leave of Absence must make arrangements through the University Service Center in addition to withdrawing from the international program.

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