A Course in Global Economics

Every penny helps when you study abroad. Here's some advice on how to get the most out of your money overseas.

Stay in your host city as much as possible. All those train and plane fares add up quickly. If you must travel, buy rail passes when you are in the United States; they're cheaper here.

Don't study in capital cities or ones that attract a lot of outsiders. They are almost always more expensive.

Eat in university cafeterias. Avoid restaurants and bars where tourists or American students hang out.

If your host country allows it, get a part-time job. Check out work-study options.

Get carded. Use an International Student Identity Card for student-specific discounts.

Set a travel budget (a weekly one is ideal) and to stick to it.

Get free money. U.S. citizens receiving Pell grants can apply for Benjamin A. Gilman scholarships.  Freeman-ASIA scholarships are for programs in East and Southeast Asia. National Security Education Program scholarships are offered to students studying in regions "critical to U.S. interests." Rotary Club offers scholarships for junior-year study abroad, but applications must be prepared two years in advance. The Association of Teachers of Japanese Bridging Project supports travelers studying in Japan.

Eligible women should apply for Sara's Wish Foundation scholarships. Students of color can go to the Michigan State University database.

More info is at www.studyabroadfunding.com and www.internationalscholarships.com.

Get political. Support the Senator Paul Simon Study Abroad Foundation Act, which would authorize $80 million per year for underprivileged students. The bill was passed unanimously by the House and now awaits Senate approval.