Financial support for students studying abroad

Financial support for students studying abroad

These days, more and more students study abroad. According to statistics from Vistawide, around 262,000 U.S. students studied abroad in 2007 and 2008. Around 40 percent of those who were learning in a foreign country were there for a semester or a quarter, while 4 percent studied for an entire academic year.

Before students travel overseas they should be sure they have enough money to travel and pay for living expenses while out of the country. However if unforeseeable events arise that cause a student to exceed his or her budget, it's important that the student has a reliable person at home who will be able to wire money in case the unthinkable should happen.

According to the U.S. State Department, those traveling in foreign countries must take extra precautions to ensure that they don't fall victim to theft. Traveling safely by keeping money well guarded, avoiding alleys and shady neighborhoods and simply being aware of one's surroundings can keep one's cash secure.

Students should also familiarize themselves with the local laws and customs of the countries to which they are traveling. They should also be sure to keep their passports on their persons at all times. It's wise to keep in touch with family members back home, and to use a school's resources for travel advice.

Students who have parents or other family members who are planning to wire moneymust also seek out a secure location at which they can pick up the payment. Wire transfer companies that allow their customers to send money to banks rather than unsecured locations are ideal.

Of course, parents and family don't have to wait until a disaster to send money to the special student in their lives. Young people traveling the world are sure to appreciate a gift of money to help pay for the expenses of sight seeing.

Young men and women who are learning over seas during the holiday season are likely to feel homesick if they aren't able to make it home. Sending a money gift to remind them that they're loved and cared for is an excellent way to comfort a wandering spirit.

If you know someone who is about to embark on a trip abroad, it may be wise to sit down with them and have a discussion about finances and safe travel strategies. They'll likely thank you for it later.

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