Determine which study abroad program you have an interest in. Studying abroad in London is not going to cost the same as studying abroad in Africa, Australia, or even the United States. You will need to determine which study abroad program most appeals to you. Then determine the cost of the program, so that you may begin preparing further.
Evaluate your existing resources. Determine how much money you already have saved and available to pay for a study abroad experience. You may choose to keep all of the money you have available for spending money when you study abroad, or you may choose to keep only a small portion available for spending money and use the rest to pay for tuition. This is going to be a personal preference that you will need to determine on your own.
Go to your financial aid office to make an appointment with a financial aid counselor. A financial aid counselor will be able to inform you about available grants and study abroad scholarships that may be available for you. You may be surprised to find there are a number of different grants and scholarships available to study abroad students.
If additional money is still needed to pay for your study abroad experience, pursue student loans from a bank. Do not delay this process, as you will want to make sure everything is ready to go by the time that you are supposed to leave to study abroad. Many banks offer student loans at a discounted interest rate. Although you will first want to pursue funding from your financial aid office, banks do serve as an alternative if additional funding is needed.