Internationalizing your degree

International Exchange

Accounting and Financial Management (AFM) students can go on an exchange term in their 4A fall academic term. It's best to start thinking about planning for an international exchange in your second year.

AFM students should attend the AFM Exchange Information Session in their 2B or 3A term and book an appointment with an SAF advisor. Connect with an SAF academic advisor to find out when the next session will be offered. SFM students should reach out to Jesse MacLeod directly.

Learn more about student experiences from Waterloo students who've studied abroad!

See more international opportunities available at SAF.

Am I eligible to apply? 

To confirm if you can apply for an exchange, AFM students should: 

  • Apply during their 3A fall study/coop term. Students in 3B or above should connect with a SAF advisor directly.

  • Review the Faculty of Arts International Exchange eligibility requirements and the Student Success Office Go Abroad application process.

  • Attend an AFM Exchange Information Session hosted by an SAF advisor.

  • Schedule an advising meeting with an SAF advisor to review your study plan, co-op requirements, degree progress and graduation timeline.

As a participant in the exchange program, you will be trusted to act as a representative of the Faculty of Arts and the University of Waterloo. Accordingly, the Faculty of Arts has the final decision on whether to endorse a student for exchange, taking a student's academic and non-academic record into account. 

  • The application may not be endorsed or your nomination to the Host University may be revoked prior to the exchange term if academic performance suggests a student is unlikely to be successful on exchange. 
  • Unprofessional conduct or behaviour, including any history of academic or non-academic misconduct, may result in your application not being endorsed or your nomination to the Host University may be revoked prior to the exchange term. 

For any questions please contact the Arts Academic Integrity Co-ordinator at e4hudson@uwaterloo.ca.

How does exchange work for AFM students?   

To go on exchange, AFM students will rearrange courses starting in their 2B or 3A academic terms to save up 5 electives for their 4A term abroad.   

Students will use their electives toward exchange because AFM core or specialization courses are not permitted to be taken abroad. Students may not enroll in courses that substantially overlap with content they have already covered in prior courses, or content they will cover in future courses.   

After matching with a host school, students must contact their SAF exchange advisor to receive approval of their host institution courses prior to enrolling in the courses. Without approval, courses taken abroad may not be eligible for transferable credits. Some host schools will require an advisor to approve courses as part of the host application process (i.e. they may require a learning agreement signed by your SAF advisor), but the University of Waterloo must approve the awarding of transfer credits for the courses you take abroad.  

Information regarding transfer credits will be covered in a separate information session after students get matched with a host school. 

Where can I go? 

AFM students are eligible to apply to institutions that accept ARTS students. However, students are limited to certain schools due to different term start and end dates, including but not limited to the following:   

  • AFM students are not able to take an off term to accommodation for an exchange to prevent delaying graduation. 

  • AFM students are expected to be in academic and co-op terms based on Waterloo sequences; no exceptions can be made.  

Here are some host schools AFM students have beed matched with in the past:  

  • Charles III University of Madrid Exchange Program, Spain  

  • Ewha Womans University Exchange Program, South Korea 

  • Liverpool University Exchange Program, England 

  • National Taiwan University Exchange Program, Taiwan 

  • Tilburg University Exchange Program, Netherlands 

  • University College London Exchange Program, England 

  • University of Birmingham Exchange Program, England 

  • University of Mannheim Exchange Program, Germany  

You can find the list of current exchange partner institutions on Waterloo Passport once the application opens in early October. You may review Passport before applications open for a list of partner schools, however the information may be subject to change.  

You will need to complete a mandatory information session when Passport opens. More information can be found on the Student Success Office Before Match website. 

When can I go? 

AFM students should apply for exchange in their fall 3A academic or co-op term and will go on exchange in their fall 4A term.  

The first round of exchange matching is often due in early October. Students interested in going on exchange should plan ahead and take mandatory courses during an earlier term to reserve their elective spaces for exchange. More information on mandatory courses can be found in the FAQ section below.    

How to Apply 

If you're interested in participating in an academic exchange or study abroad term, there are two key steps to prepare: 

  1. Review the Go Abroad mandatory information session on LEARN.  

  1. Visit the Go Abroad Application Steps website for upcoming information sessions. Make sure to submit your application by the posted deadlines.  

Frequently asked questions

How would the exchange fit my academic plans?  

As AFM students, you will NOT be able to take any AFM or specialization classes abroad. 

On exchange, you will take five electives, therefore your course selection will be different from other students in the same cohort.  

Students who are interested in exchange should complete AFM 433 during 3A or 3B instead of an elective, and they may also wish to complete AFM 480 in advance – but this is not a requirement, and spots are not guaranteed. Please reach out to an SAF Advisor if you have difficulty enrolling in AFM 433 and/or AFM 480. 

How does course selection work?

Once students know the courses they would like to take at their host school, they will submit the AFM Course Evaluation form along with their course syllabus. The syllabus will be reviewed for possible transfer credits. This assessment process will take a minimum of two weeks. More information will be communicated to those who get a match. 

When going on exchange, students receive grades based on the grading system at the host school, but they will receive Credit / No Credit on their UW record. This means the grades received will not be included in average calculations at Waterloo. 

Students should consult the information fact sheet sent to them by the global learning team when their match is confirmed to understand what constitutes a full-time load at the host institution and if there are any specific rules around a minimum and maximum course load. For further advice, students can contact the global learning team at studyabroad@uwaterloo.ca

Will an exchange impact my graduation timeline?

By going abroad in your fall 4A term and ensuring you have core courses completed prior to your exchange, AFM students are expected to be eligible to graduate on time.

Would I still be allowed to take up a second specialization in AFM or a minor?

Because AFM students cannot take any AFM or specialization classes abroad, they can only take their electives during their time abroad. Students planning to do two specializations or to complete a minor with one specialization, would delay their graduation term. To complete a minor or a second specialization, students will need to take additional courses beyond the required 20 credits (40 courses) for their degree.  

My 4A fall term is scheduled as a co-op term. What should I do?

In this case, you need to submit the Request for Academic/Work Term Sequence Change Form after you get matched with a school to ensure that fall 4A is when you will study abroad. You may mention that the request is to accommodate for an international exchange term.

Would I still have access to Waterloo Works while job searching for co-op abroad?

Yes, you will still have access to Waterloo Works. It is not mandatory, but we encourage you to pre-arrange employment for the next co-op term (winter) if possible before going on exchange.

Please keep in mind that there will be time difference when scheduling interviews and meetings. If you have any questions related co-op, you can reach out to Lynn Graham or your work term support person. 

Additional international opportunities

International Co-op

SAF students have the option to complete co-op terms abroad. Information can be found on the work abroad page.  

Please reach out to Lynn Graham for co-op related questions.  

International Study Course  

Learn more about the the SAF International Study Course.