The University ranks fifth nationally in colleges for the number of students studying overseas – but the problems on Wall Street could soon affect Broad Street.

Across the nation public universities have seen a significant decrease in study abroad participation during the last year.

“The one study I have seen was of just a few hundred schools, but it did indicate that a lot of schools saw a downturn in 2008-09, no doubt related to the economy, and that, in general, public colleges were more likely to see a decline than private ones,” said Kasee Laster, director of study abroad.

James McClung, associate director of the UGA at Oxford Program, said the Oxford study abroad program has also been affected by the economic crisis.

“While we haven’t had a dramatic decrease in applications, we have seen a dramatic increase in scholarship and financial aid applications, which is a notable change from last year,” McClung said.

Total study abroad participation at the University has decreased by 5 percent from the 2007-2008 to the 2008-2009 academic year, but Laster said enrollment could bounce back during the spring semester.

“The preliminary reports I am getting from spring semester programs about their recruitment efforts would indicate that things are going to rebound at least somewhat, maybe fully, for 2009-2010,” Laster said.

Laster said she could not tell a difference in where, when or how long students are going on study abroad trips through the University, since she has not yet compiled full statistics for the 2008-2009 academic year.

Quint Newcomer, director of the UGA Costa Rica Study Abroad Program, said he expects the number of University students studying in Costa Rica to increase for the upcoming spring semester, Maymester and summer programs.

“Based on the applications we have received so far, we’re on pace right now to exceed the 2006 projection,” he said.

Laster estimated for the 2008-2009 academic year about 160 students participated in study abroad during fall semester, and 400 elected to study abroad during the spring semester.

About 29 of the students from both semesters studied abroad for a full academic year. Summer estimates are about 1,400 students.

Laster said a variety of considerations might make the numbers appear deceptively low.

“All of these numbers are only students going for academic credit, and counting each student only once, even if he or she participated in more than one program in the same academic year,” Laster said. “They also exclude students from other universities going on our programs for credit that they will transfer back home. We usually have 150 to 200 of these each year.”

Help is on the way for those students wanting to study abroad but unable to find the funds. The UGA at Oxford program is planning to introduce several new scholarships and financial aid measures to assist struggling students, following the lead of other study abroad programs across the country attempting to regain their previously high participation levels.