Perceived Risk and Risk Reduction Strategies in Study Abroad Programs

The study abroad program (SAP) meets the criteria of a risky purchase, namely of being non-tangible, possessing hidden qualities, being expensive and cannot being able to be tested prior to purchase. In fact, SAPs may score highly on a number of risk components, especially financial risk (expensive), psychological risk (anxiety), physical risk (safety), social risk (thought of as foolish) and performance risk (deliver valuable information, have fun, learn). The concept of perceived risk is applied to SAPs, as are risk reducing strategies (RRS) that faculty can employ to make the SAP a much less risky proposition.