Funding your year abroad is a big step to finalising your plans, making sure you can afford your city and enabling you to really make the most of your time there, without worrying too much about money. Many grants and schemes are available, as well as the chance to get to grips with various other forms of money-saving ideas. Here is our definitive list of what you should keep an eye out before you whisk yourself off to other countries:
Budgeting for a year abroad on a shoe-string is standard practice, but these tips are by no means money-saving survival tactics for those trying to live on the cheap: they are original ideas to help you spice up and make the most of your time in Madrid. They just so happen to save you some céntimos too. Enjoy!
As a UK Erasmus student, you are entitled to receive a grant for your time away at a a participating Erasmus institution (work or study). The grant is paid through your home institution and aims to subsidise part of your year abroad. You are still entitled to receive your usual financial support outside of this grant, as you need to bear in mind that it may not cover all of your costs. It is non-refundable and free, and as such, it is wise for all UK Erasmus students should apply for one!
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