Options for Financing Study Abroad
Abstract
The depreciation of the US dollar and increases in study abroad participation by K
students have created a problem for financing Kalamazoo College’s international
programs. The financial shortfall for the coming year could be between $300,000 and
$600,000. If trends continue, this problem is likely to be worse in coming years. This
creates a problem in Kalamazoo, as well, since money spent on foreign programs is not
available to support on-campus programs.
President Wilson-Oyelaran asked Planning and Budget to analyze various options for
financing study abroad, including 1) having students cover travel costs, 2) not applying
merit aid to study abroad and 3) charging fees that reflect the actual costs of the
programs. We were encouraged to develop other options, as well. We were asked to
adhere to the following principles in our analysis: 1) study abroad is an expectation of all
students; 2) financial obstacles should not be a determining factor for lower income
students; 3) there should be a rich array of Study Abroad options and 4) the distinctive
nature of Kalamazoo’s Study Abroad program should be maintained (number of
students, length of time, participation across all disciplines.)