It is important that you start thinking ahead of the costs you will incur while you are away on exchange and plan your budget realistically.
Plan your finances from the beginning by working out a realistic budget for the money you will need while you are away.
Accommodation and living costs abroad may well be lower than here, but you are still likely to need more money as you will want to take advantage of visiting other places of interest in the area.
Some countries (eg. USA) require students to complete a declaration of finances, which is verified before they are able to get their visa. For example, the School of Visual Arts (SVA) in New York requires all exchange applicants to demonstrate they have at least 13,000 US$ available to finance their stay for one semester for visa purposes.
Tuition and other fees
You will find full information on tuition fees, including discounted fees for outgoing students on the UAL website.
You will be exempt from your host university registration fees. Small fees may be charged such as insurance, students union and miscellaneous materials such as photocopying, artists’ materials etc, the same way these are charged to local students.
You might have to pay other fees. It is the responsibility of the student to check all extra costs and finance issues related to their host country and host university.
You will need to cover all other costs, including travel, subsistence, accommodation, etc. In particular, students going to a non-European country will need to purchase compulsory health insurance abroad (eg. university health insurance plans in the USA).