Financial Aid, Scholarships, Currency Exchange
Students may be eligible for Grand View aid, federal grants and loans, state grants, private scholarships and private loans in accordance with federal, state, private and institutional regulations to help fund their off-campus study program. Check directly with Grand View’s Financial Aid Office in order to determine what financial aid they are entitled to for their program.
The Office of International Studies has information on sources of financial assistance for study abroad programs. We encourage students to inquire and conduct research about possible scholarship opportunities as early as possible as they plan their off-campus experience.
Travel Savings Account
Grand View provides an opportunity for students to save for a future off-campus study program by signing up for a Travel Savings Account through Grand View’s Business Office. The Travel Savings Account is a great way for students to plan and save for their future off-campus learning adventure! Students who work on-campus can designate a portion of their income to be deposited directly into their travel account. If available, students can also designate excess financial aid funds to be deposited directly into the Travel Savings Account. Additionally, students or their family members can make deposits into a student’s account to be saved for a future program. These funds will be retained in their Travel Savings Account and can be used only as payment on their future study abroad/study away program. If at any point they decide that they no longer wish to participate in an off-campus study program, the funds will be returned in full to the student and/or the individual payers (family members) upon written request. Contact the Grand View Business Office, Director of Student Accounts for additional information.
After acceptance into an off-campus program we recommend students and parents begin to think about the sources of currency they will use while abroad. Research the kinds of services available in your off-campus program community as well as the host committee’s banking customs. Students should also contact their credit card company or bank to let them know they will be traveling as well as check on the availability and locations of ATMs in the area where they will be studying. It is a good idea to talk with your son or daughter prior to their program departure about establishing a travel and spending budget while abroad. Students are encouraged to use location-specific resources as well as other students who have studied abroad to determine estimated expenses for food, local transportation, and personal expenses including some entertainment.
Rates of Exchange: Since currency rates are constantly changing, parents and students are encouraged to monitor the exchange rate prior to and during the program period. A website for monitoring currency exchange is www.xe.com/ucc. A helpful website for translating US dollar amounts into the currency of the host country is, www.oanda.com/converter/classic.
How to Exchange Currency: The key to successful money exchange is advance planning and estimating how much money you will need for a particular country. It is costly to convert to a new currency because each time you convert you pay a service charge. You can exchange money at banks, traveler’s check companies, airports, railroad stations, some tourist information centers, and travel agencies. Offices of traveler’s check companies, banks and sometimes exchange counters at airports tend to offer the best rates. Bring your passport with you as identification every time you exchange money. Try to avoid exchanging money at airports or high-traffic tourist areas; they will often give a worse exchange rate.