Finances

Finances

Both paid and unpaid internships are available, depending on the agency, company, or research experience. Some positions may not be paid but offer other compensation, such as housing or travel reimbursement. Consider the value of work abroad, and use the resources on this website to design a budget to fit your needs.

Quick tips:

  1. Be aware that some organizations require application fees and program fees. Program fees can range from $25.00 to $800.00, depending on the program.
  2. Consider whether you’d prefer a program that arranges many of your in-country logistics versus making those arrangements yourself.  Some programs are built with many services like study abroad programs and carry similar price tags ranging from a couple thousand to near ten thousand dollars – but this means that many of your in-country logistics (housing, airport pickup, etc.) and excursions are included.
  3. International travel costs can vary greatly depending on the departure point, arrival point, time of travel and any additional travel needed to get to the employment site.  Commuting to and from work is also a consideration.  How much?  How long? How difficult?
  4. Some countries will have a lower cost of living than others, or better exchange rates for the US dollar. You may wish to explore companies that are not located in major cities, where the cost of living can be lower.

You should develop an estimate of travel expenses and build this into your financial plan for an internship.

Funding your Overseas Experience

INTERNAL FUNDING:

CoE International Internship Scholarship Program – Interested in exploring new and diverse cultures while gaining valuable engineering experience? The College of Engineering wants to encourage you to participate in an international internship. The CoE International Internship Scholarship provides a great incentive to consider work experience abroad.

International Center Funding Resources – Applying for funding, regardless of the source, can be a difficult and daunting task.  The International Center offers information on how to prepare your funding application, including budget preparation, statement of purpose, and letters of recommendation. They also offer a list of campus resources for both undergraduate and graduate students.

International Institute – The International Institute at U-M provides generous support for students embarking on work, volunteer, and internship experience abroad.  Also check the International Institute’s specific Area Studies Centers according to the region you will work in; each center may have country / region-specific funding to which you can apply.

Ginsberg Student Fellowships – The Ginsberg Center for Community Service and Learning is accepting nominations for Ginsberg Student Fellows.  The Ginsberg Student Fellowships provide University of Michigan undergraduate and graduate students with funding and support for projects that make a significant contribution to a community in partnership with a community-based organization. Information and an application can be found at The Edward Ginsberg Center for Community Service and Learning.

IPE also provides a list of web resources and scholarship opportunities.  While many options are for study abroad, some funding resources also include international internships.

EXTERNAL FUNDING:

National Science Foundation (NSF) – NSF was created to promote the progress of science, advancement of health, national defense security, along with many other objectives. The National Science Foundation offers a range of funding opportunities for students aiming to work abroad.

Brazil’s Science without Borders – The goal of the Brazil’s Science without Borders program is to strengthen and expand initiatives of science, technology, innovation and competitiveness through international mobility of students and researchers in order to meet Brazil’s rapidly growing need for highly skilled professionals in the STEM fields.

Fulbright – This prestigious award was established to foster bilateral exchanges between the U.S. and other nations.  There are several different Fulbright scholarship programs and can be found at the Fulbright U.S. Student Program website.

Rotary Club – Provides generous funding for programs abroad. Visit The Rotary Club home page to find your local branch and to learn more about funding opportunities and deadlines.

Lions Club InternationalThe Lions Club International helps to make a difference in communities worldwide and is the world’s largest service club organization.

Check out this compilation from the Matador Network of 31 TRAVEL SCHOLARSHIPS, FELLOWSHIPS, AND GRANTS TO FUND YOUR NEXT TRIP ABROAD.