Student loans

Can student loans be used for study abroad? Everything you need to know

March 18, 2025 – 4 mins

Student walking abroad with luggage

How student loans can cover study abroad expenses

Studying abroad can be such a life-changing experience, introducing you to new people and cultures. While it can make your college experience one you’ll never forget, your wallet might remember one thing—how expensive the trip was. The good news is that you don’t have to solely rely on your savings to pay for a study abroad trip. Federal financial aid and private student loans are available to help you pay for it.

How much will you need to borrow?

Before thinking about taking out a loan, it’s important to know how much money you’ll need to cover your study abroad. Some general things to consider are:

Tuition—usually the largest college cost. This price may vary depending on the school you choose and how long you plan to study there.
Travel fees—in order to study abroad you have to travel abroad, and that isn’t always the easiest to pay for. In some cases, financial aid and student loans may be able to cover the cost.
Living expenses—you’ll need a place to stay, food to eat, and household items during your study abroad trip. These fees can add up, and you may need to borrow to pay for them.

Federal student loans for study abroad

The first step in your plan to borrow for study abroad is to fill out the FAFSA^® (Free Application for Federal Student Aid). This is your shot at getting grants, scholarships, and federal student loans. You may be able to use these funds to pay for your study abroad costs, but it will depend on a few things:

Your length of study—are you studying abroad for a semester? A whole academic year?
The type of program you will be studying
What school you want to go to and where it’s located

Pro tip: Check out this list of schools outside the U.S. to see if the schools you’re interested in participate in federal student loan programs.

Need money for college?

Consider a Sallie Mae^® private student loan

Available for online or on-campus study
Competitive fixed and variable rates
No origination fee or prepayment penalty^{footnote 1}
95% of undergraduate students who’ve been approved with a cosigner were approved again when they returned with a cosigner the following year^{footnote 2}

Learn More

Photo webImage blog Cross Sell study Girl.

Private student loans for study abroad

If federal financial aid can’t pay for all your study abroad costs, private student loans can help cover the rest. Before taking out a private student loan, make sure you keep these things in mind:

Interest rates: Interest is the amount you’re charged to borrow money. It gets added to your principal balance, so you’ll end up repaying more than you borrowed. Lenders may offer you the choice between fixed and variable interest rates. Fixed interest doesn’t change over the life of your loan, while variable interest can go up or down depending on market conditions. Interest rates can vary depending on the type of loan you get. Pro tip: applying with a creditworthy cosigner can help you get approved and may get you a lower interest rate.
Repayment options: Private student loans have different repayment options as well. Make sure to look over the terms of your loan to figure out how your payments will work. Repayment may depend on your enrollment status. You may have to pay during school or after you’ve graduated and finished your grace period.

Sallie Mae^® can help you pay your way through your study abroad experience with the Smart Option Student Loan^®. You can get the money you need to pay for up to 100% of your eligible costs—even a laptop.^{footnote 3} With competitive variable and fixed interest rates and a 0.25 percentage point discount when you sign up for auto debit^{footnote 4}, this is a great option.

Study abroad with confidence

You should live your study abroad trip to the fullest without worrying about how you’ll pay for it. Federal financial aid and private student loans are there to help you. Just make sure to know how much you need, go for federal financial aid and scholarships first, then use private student loans if you need to fill in the gaps.

footnote Sallie Mae does not provide, and these materials are not meant to convey, financial, tax, or legal advice. Consult your own financial advisor, tax advisor, or attorney about your specific circumstances.

footnote External links and third-party references are provided for informational purposes only. Sallie Mae cannot guarantee the accuracy of the information provided by any third parties and assumes no responsibility for any errors or omissions contained therein. Any copyrights, trademarks, and/or service marks used in these materials are the property of their respective owners.

footnote Sallie Mae, the Sallie Mae logo, and other Sallie Mae names and logos are service marks or registered service marks of Sallie Mae Bank. All other names and logos used are the trademarks or service marks of their respective owners.

footnote 1. Although we do not charge you a penalty or fee if you prepay your loan, any prepayment will be applied as provided in your promissory note: first to Unpaid Fees and costs, then to Unpaid Interest, and then to Current Principal.

footnote 2. Sallie Mae loans cover enrollment periods of up to 12 months. Students must apply for a new loan each school year. This approval percentage is based on students who were approved for a Sallie Mae undergraduate loan with a cosigner in the 2021/22 school year and were approved for another Sallie Mae undergraduate loan when they returned with the same or new cosigner in 2022/23. It does not include the denied applications of students who were ultimately approved in 2022/23.

footnote 3. For applications submitted directly to Sallie Mae, loan amount cannot exceed the cost of attendance less financial aid received, as certified by the school. Applications submitted to Sallie Mae through a partner website will be subject to a lower maximum loan request amount. Miscellaneous personal expenses (such as a laptop) may be included in the cost of attendance for students enrolled at least half-time.

footnote 4. The borrower or cosigner must enroll in auto debit through Sallie Mae to receive a 0.25 percentage point interest rate reduction benefit. This benefit applies only during active repayment for as long as the Current Amount Due or Designated Amount is successfully withdrawn from the authorized bank account each month. It may be suspended during forbearance or deferment.