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Financial Aid for Study Abroad 1. Do not assume that Study Abroad is too expensive for you! 2. Every student exploring Study Abroad options should meet with a financial aid advisor to learn about financial aid options. 3. Even if a student has not previously qualified for financial aid to attend 4. Because the cost of Study Abroad will be more than your cost of attending The costs involved in an academic budget include: - Tuition and fees - Room and Meals - Books and supplies - Transportation necessary to get from home to school 5. The Study Abroad program you plan to attend should provide you with a budget breakdown of actual costs of the program fee and estimated costs of personal expenses while on the program. Thus, if your program fee is $9,500, but it does not include meals and airfare to your international location, your Financial Aid Advisor will add the additional estimated cost of airfare and meals in your host country. The combined amount will be the academic costs which your Financial Aid Advisor will use to determine your financial aid eligibility. 6. You (and/or your parent) should fill out a financial aid FAFSA form. 7. Schedule an appointment to see a financial aid advisor (phone) or (email). 8. Take the program budget breakdown (see #5 above) to your meeting with your financial aid advisor and he/she can determine if, and for what amount of financial aid you will be eligible. 9. It is possible that you may be eligible for federal financial aid, federal student loans, scholarships, and/or other sources of funding for Study Abroad. Again... even if you have not been eligible for financial aid previously, it is possible that you will be eligible for financial aid for Study Abroad. 10. If you qualify for financial aid... the Financial Aid Office will have you fill out forms that indicate when and where your financial aid will be disbursed. It is common that the disbursement of financial aid occurs after your Study Abroad semester is supposed to begin. Most Study Abroad programs will allow you to defer program payment until your financial aid is disbursed, IF you get the Financial Aid Office to verify when and how much financial aid you are scheduled to receive. 11. Your financial aid will be disbursed to you via electronic deposit into the designated bank account you authorize. You will then have access to your funds and are responsible for paying your program fees directly. 12. If you do not pay your program fees within 10 days of verified financial aid disbursement, you are responsible for the cost of late payment fees incurred. 13. Most financial aid is contingent upon full-time enrollment, and satisfactory academic progress. This means that students must be enrolled in a minimum of 12 credits (or the equivalent) in a semester, and students must earn a minimum of a "C" (2.0 on a 4.0 scale) in a course to receive transfer credit. 14. If a student should fall below full-time enrollment, and/or does not earn at least a "C" (2.0 on a 4.0 scale) in any course, the student will be required to repay financial aid for that semester. Ask questions about funding for Study Abroad Ask more questions about Financial Aid for Study Abroad through your online Study Abroad account.
Click here to create an online account and/or sign on Institutional policies on payment for study abroad Students obtaining pre-approval of Study Abroad at Cost comparison of programs The Study Abroad Office welcomes student inquiries about comparing and contrasting Study Abroad options, which includes program and living costs. Advertised program prices are not commonly listed as a comprehensive cost of participation. Thus, it is critical that students "read the fine print" in promotions about Study Abroad programs and understand "What is Included" and "What is NOT Included" in an advertised program price. It is often the case that what is not listed in a program price can change the semester expenses significantly. Be sure to know what costs are commonly incurred during a Study Abroad program and ask specific questions of the program sponsor if the program budget items are not listed on the website or printed materials for a specific program. Financial aid information Do not assume that you are (or are not) eligible for financial aid. Explore financial aid options. Whether you are currently eligible for financial aid at Financial aid sources come from a) federal student grants, b) federal student loans, c) private student loans, d) scholarships, e) program discounts, f) family and friends, and g) many other sources. Scholarship information
- Benjamin Gilman International Scholarship: http://www.iie.org//programs/gilman/index.html - National Security Education Program: http://www.iie.org/programs/nsep/default.htm - Freeman Asia Scholarship: http://www.iie.org/programs/Freeman%2DASIA/p_overview.shtm Study Abroad Scholarship Databases: IIE Passport: http://www.studyabroadfunding.org/ FinancialAid.Org: http://www.finaid.org/ |
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