A well thought out program budget is crucial for the success of a Study Away Program. Programs should be self-sustaining and generate enough revenue to cover the projected expenses. Program viability from a financial standpoint is required. If a program’s expenses exceed possible revenue or if the total expenses push the program charge beyond a reasonable, credible, and competitive program charge, the program will not be approved to run.
According to the deadlines set by the Office of Global Education and published in the UGA StudyAway Portal, program directors will submit a preliminary budget for review. Budgets will be evaluated, additional information will be solicited, and upon preliminary approval, which occurs approximately six months prior to departure, an instructional support allocation will be granted. This budget will determine and set the program charge. Program directors will then begin/continue the recruiting process. At approximately four months prior to planned program departure, the budget will be reviewed, adjusted for more realistic student counts and program needs, and finalized. Based on these factors, the support allocation can be adjusted. The final program charge is set at this time. It is important to note that during subsequent budget reviews the program charge may be decreased from the amount established with the preliminary approved budget, but it cannot be increased. If dramatic budgeting changes need to occur that may result in an increased program fee, it is the responsibility of the program’s home unit to secure funding to balance the budget. If an amended budget is not approved by OGE, the program may not be approved to run.