Study abroad is an academic experience first and foremost and it does not only replace academic work a student might otherwise complete on-campus, but the international experience also enhances a student’s curriculum on-campus. As such, there are options for financial support for study abroad just as there are for academics on-campus.

Financial Aid and study abroad policies vary from university to university, but the following guidelines generally apply:

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 their university, this does not mean they will not be eligible for financial aid for study abroad.

4. Because the cost of study abroad may (or may not) be more than the cost of attending the home university, it is usually required to submit a specific study abroad budget to see if you qualify for financial aid when attending study abroad. The costs involved in an academic budget typically include: o Tuition and fees o Room and Board o Books and supplies o 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).

Take the program budget breakdown (see #5) to your meeting with your financial aid advisor and they can determine if, and for what amount of financial aid you will be eligible for.

8. It is possible that you may be eligible for federal financial aid, federal student loans, institutional scholarships, outside 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.

9. 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 Officer to verify when and how much financial aid you are scheduled to receive.

10. 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 typically earn a minimum of a C (2.0 on a 4.0 scale) in a course to receive transfer credit.

11. 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 may be required to repay financial aid for that semester.

If you are currently receiving financial aid at your home institution, you can often apply it to semester-long study abroad programs, as long as you maintain full-time academic status. Other options for financing your semester abroad include scholarships and private loan programs. Cost Comparison of Programs

Your school’s study abroad office will welcome 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 (whether that is your study abroad office or a third-party provider) 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 your school or not. There are additional costs related to study abroad and alternative financial aid resources specifically for study abroad that may change your eligibility.

Financial aid sources come from: federal student grants federal student loans private student loans scholarships program discounts family and friends many other sources