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Financing & Budgeting for Short Term Study Abroad Programs

Financing & Budgeting for Short Term Study Abroad Programs. Overview. Planning Budgeting Setting the Price Funding Student Participation Overseas Institutions Questions!!!. A to Z Planning. Where, When, What, Why, How…. A to Z Planning (Cont). Why What are your objectives?

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Financing & Budgeting for Short Term Study Abroad Programs

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  1. Financing & Budgeting for Short Term Study Abroad Programs

  2. Overview • Planning • Budgeting • Setting the Price • Funding • Student Participation • Overseas Institutions • Questions!!!

  3. A to Z Planning • Where, When, What, Why, How…

  4. A to Z Planning (Cont) • Why • What are your objectives? • What do your students want? • Where • Where do you want to go? • Where will you start & end? • When • When will you go? • How many days? • When are your deadlines? • What • What cities will you visit • What type of accommodation is preferred? • What do you want on the schedule? • How • Who will make the arrangements? • Program provider?

  5. Budgeting by PAX 10 Day Trip, Including 3 Faculty & Stops in Australia & Fiji When to Increase Capacity… …and when not to

  6. Elements of a Budget • Inclusions • International Airfare(?) • Excursions • Some Meals • Tuition • Exclusions • Domestic Airfare • Insurance • Personal Expenses • Free Day Activities • Sample Budgets

  7. Aligning Goals & Scope With Reality • What Are Your Absolutes? • What Will You Need To Attract The Students? What Must You Have To Validate the Course?

  8. Sample Schedule

  9. Setting The Price • What To Include • Very easy to raise make the program unaffordable • Finding Affordable Additions • Academic Credit • Remember the Student Budget

  10. Funding • Financial Aid • Scholarships • www.studyabroad.com/forum/financial_aid.html • www.goabroad.com • Student Fundraising • Success Stories?

  11. Student Participation • Tips for Getting Students on Board • Plenty of time! • Study Abroad Office • Fliers, Posters,Presentations • Setting Payment Deadlines • 90 Days Minimum • Students FromInstitutions Other Than Your Own

  12. Working With Overseas Institutions • Challenges With Universityto University Relationships • Pricing • Timeliness • Holidays & OtherConsiderations • Overseas Faculty • Managing Expectations

  13. Conclusion • Handouts • Questions

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