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UCL Study Abroad

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Finance

The financial aspect of the year abroad is one that often is a concern for students as the approach their departure date. It is vital that you start to consider your financial situation as early as possible in the application process, as you will need plenty of time to apply for financial support. 

It is also important to note that some study abroad options will open up more opportunities for funding, so it is worthwhile taking some time to research. 

The links and information below should address most of the key areas of study abroad finance. If you have further questions, please contact the Study Abroad Team or for more information on other sources of funding available to UCL students, please contact the Student Funding Office


Budgeting

It is extremely important that you draw up a realistic budget to help you handle your finances whilst away on your year abroad. To help you do this, the Study Abroad Team have put together a simple spreadsheet which you can use to help you outline expected costs.

Download Budgeting Worksheet (right click and 'Save As' to download)


Arrival costs

It is vital that you make sure you have sufficient money for your arrival costs, which can be significant - accommodation deposits and first month's rent; purchase of bedding, utensils; orientation costs, tickets for start of term events.

Additionally, you should make sure you have enough to cover you for living expenses until your student funding arrives. Given that many students arrive at their placement abroad, there can sometimes be a significant period of time before you Student Loan is paid - this can only be paid early for students who are starting their term a full 25 days before the UCL term starts.


Financial Contingency

It is extremely important to make sure that you have a source of emergency money which you can access in the event that you experience problems with your funding.

The simplest way to arrange emergency fallback money is to apply for a credit card before you go away. Make sure that it has a sensible credit limit and then keep it somewhere safe (ideally not in your wallet or purse in case it is stolen) and only use it when you have a genuine need.

If you cannot get a credit card or do not wish to, make sure that you have access to a fund specifically set aside for emergencies, or make an agreement with a parent, guardian or other friends or family for an emergency loan should you need it.

UCL Student Funding are there to support UCL students in financial hardship, and can assist students who find themselves unexpectedly in a difficult situation; however, it is important that you take responsibility for your own financial arrangements and do your best to make sure that you have a fallback plan just in case.


Tuition Fees

UCL Tuition Fees
Host Institution Tuition Fees
Reimbursement of Tuition Fees Paid Abroad

Financial Assistance

Student Loans and Grants
Assistance with Travel Costs
UCL Undergraduate Bursaries (Hebss)
Access to Learning Fund
Erasmus Grants
BUTEX Scholarships

Other

British Council Language Assistants
Work Placements
Visas and Immigration
Budgeting