I believe it's to cover expenses related. For example, I know a student who used hers to pay for housing during her unpaid internship with the Ellen show.
I can't say for sure how much of a value it is, but I do know on the Auburn Abroad website it also lists some scholarships available. From light scanning, it appears that if you do your abroad program through the school than you pay tuition (which would already be covered for you) plus housing, meals and other living expenses. They also have financial aid solely for studying abroad, if your student desires.
Auburn Abroad - Index