Money Matters (Spain)



One of the most common worries students have about studying abroad involves money and cost of the program. But at Loras, studying overseas is often not too much more expensive than a semester on campus if you budget wisely. The information below should help to give you an idea about how much you will spend on your semester abroad, as well as information about money exchange, ATM’s, and currency.

'''WHAT ARE THE ESTIMATED PROGRAM COSTS? '''

Please see the program information flyer.

Remember to include a little cushion in your budget. Some students met with expenses that they had not anticipated such as ATM charges from their bank in the U.S., additional books, hangers, and cleaning supplies.

'''WHAT IS THE CURRENCY OF SPAIN? '''

The Euro is the official currency of Spain as well as Belgium, Germany, Greece, France, Ireland, Italy, Luxembourg, the Netherlands, Austria, Portugal, Slovenia and Finland.

'''HOW DO I GET CASH AND EXCHANGE CURRENCY? '''

ATM’s are easy to find in Santiago de Compostela, so getting cash with your American ATM card is not a problem. You will have to pay a small fee (usually 1-3 euros) to withdraw cash from an ATM in Santiago de Compostela. You may want to exchange a small amount of money for euros before leaving for Spain, but it is probably not a good idea to bring a lot of dollars to Spain; you will have to pay a heavy commission fee.

'''IS IT NECESSARY TO TIP IN SPAIN? '''

You do not need to tip the waiters more than a 20-30 ''centimos. ''Waitstaff is given a full salary.