VTRIP itself does not offer financial aid or scholarships. However, there are various sources of funds to help you finance your VTRIP study abroad experience.

Your first step should be to contact the financial aid office at your home institution. If you receive a federally funded financial aid package, in most cases, this money can be used to support your study abroad. For short-term programs, such as those offered through VTRIP, Stafford and Plus loans are typical sources of aid. 

You will need to meet directly with your financial aid counselor. Be sure to request a program budget from the institution organizing the program you are interested in and bring this with you to your meeting. 


SCHOLARSHIPS
Be sure to ask about scholarships available through your home institution. Outside sources may include the following but are not often available for short term programs:

• Benjamin A. Gilman International Scholarship
  
• Bowman Travel Grants
  
• Bridging Scholarships for Study Abroad in Japan
  
• Cambridge Gates Scholarship
  
• Fulbright Scholarship 
  
• Oxford and Rhodes Scholarship
  
• National Security Education Program
  
• Rotary Ambassadorial Scholarships
  
• The Freeman-Asia Scholarship
  
• The edu.de Student Scholarship Program
  

• Supercollege.com 
  
• COS Funding Opportunities—Search for Different Grants
  
• FastWEB Financial Aid Search
  
• Studyabroad.com Financial Aid Information
  
• International Education Financial Aid
  
• International Study and Travel Center: Study Abroad Scholarships
  
• http://www.fastaid.com
  
• http://www.internationalstudent.com/scholarships/

• Financial Aid Information Page
  
• Innovative Fundraising Ideas
  

LOANS

• International Student Loan Program
  
• Citiassist Loans 
  
• http://www.internationalstudentloan.com/
  
• Sallie Mae's Website
  

BUDGETING
The overall cost of living abroad can be higher, or lower, than at home. Because you are in an unfamiliar environment, with local costs stated in a currency you may not be able to translate immediately into dollars, it is easy to be misled. You may also be confronted with an almost endless array of ways to spend money. A cautious approach to buying makes the most sense. Try to live within a prudent budget that will take care of all necessities and allow you to live on the means available to you for the duration of your stay. There is nothing more dismaying than to run out of funds overseas, with no easy or quick means of replenishment. Given that most VTRIP programs are short in nature, planning ahead should solve any potential problems. The following suggestions may be helpful:

• Make a daily budget and stick to it.
  
• Learn the "value" of the money (i.e. in relation to the U.S. $) wherever you are and as quickly as possible.
  
• Be consistently alert for special student rates and discounts, wherever you go, and know what is available through the use of your International Student Identification Card (e.g. travel, accommodations, entrance fees, etc.)
  
• Shop, when possible, in street markets. Avoid specialty shops and convenience stores (which add a 20-30% mark-up). Put off making major purchases as long as you can, when you have learned the range of available selections and prices.
  
• Take care of your belongings and safeguard your traveler's checks and cash. Losses from carelessness are difficult enough at any time. They are even more inconvenient abroad and petty theft is universally common.

CURRENCY EXCHANGE
It is not recommended that you carry large amounts of cash with you. Traveler's checks have long been considered the safest way for carrying your money. Lost or stolen cash cannot be replaced; traveler's checks can be refunded. If you choose to purchase traveler’s checks, be sure to keep a separate record of the serial numbers on the checks. Should the checks be lost or stolen, you will need to have these numbers available in order to obtain a refund. Commission fees apply.

ATM's are widely available overseas. ATM's allow you to withdraw money in the host country's currency directly from the machine. The exchange rate at an ATM is normally more favorable than at a bank or currency exchange. There are also no commission charges for ATM use (other than your normal bank fee). ATM’s are available in most major airports and cities around the world. If you are traveling to more obscure areas, make sure you have back up cash/traveler’s checks in case you are not able to access an ATM. In general, ATM machines provide the most convenient, safe, and inexpensive way to exchange money.

• Worldwide MasterCard ATM Locator - Where to find an ATM, even if you aren’t a Mastercard holder. 
  
• Worldwide Visa ATM Locator - Where to find an ATM, even if you aren’t a visa card holder. 

CREDIT CARDS
Credit cards make foreign currency transactions easy and are invaluable in a financial emergency. Take a credit card along, if you can but USE IT WISELY; overspending is so easy to do and fees and interest charges can be costly. Also, the loss or theft of a card abroad can be a huge inconvenience when you are traveling.

Possession of an American Express card, Visa card, or MasterCard will be helpful should you need to acquire emergency funds while awaiting money from home. You can go to an American Express office and cash a personal check for up to $1000 (only the first $50 will be provided in cash, the balance in traveler's checks). With a Visa card you can usually obtain a cash advance against your account from a foreign bank. The bank will take your passport number and your credit card number and phone them both into a central computer to prevent you from exceeding the established limit.

Credit cards can also come in handy when you wish to charge a purchase to your account rather than pay cash. However, not all merchants abroad accept credit cards, regardless of the name brand (many of your gifts and/or souvenirs may be obtained at small shops and bazaars that do not provide charge services). The amount charged to your credit card bill is based on the exchange rate on the day that your bank or credit card company processes the transaction.