Financial Aid for Study Abroad Programs
Financial Aid Payment Procedure
If you are planning to request financial aid to pay for all or part of your study abroad trip, please read the following information.
The attached application for financial aid is based on your request for available aid resources to study abroad. This is strictly confidential and will be used only for considering financial aid by authorized personnel of the College.
To apply for financial aid, please follow these procedures:
- Complete and submit this application and return to the Office of Financial Aid.
- Submit your 2015-16 Free Application for Federal Student Aid (FAFSA) at www.fafsa.gov.
- Upon receipt of your study abroad award notification, please complete any necessary paperwork (Master Promissory Notes, Entrance Counseling Sessions and your Study Abroad Award Acceptance Form). We will be unable to process your aid until all of these documents have been received.
Your financial aid for study abroad programs consist of your Federal Direct Loan eligibility, Federal Direct Parent (PLUS) loan eligibility, and/or Alternative/Private Education Loans.
You may use one semester of Federal Direct Loan eligibility as your base eligibility and combine this with other loans to meet your costs associated with the study abroad program.
The following amounts are available from the Federal Direct Loan Program: $1,750 (freshman), $2,250 (sophomore) and $2,750 (junior/senior) for a semester of study. A loan origination fee may be deducted from the loan amount.
You must enroll in at least six (6) credit hours towards your degree or certificate program for the enrollment period (fall, spring or summer).
If a student is taking less than 6 hours during any term of enrollment, he or she will not be eligible for any type of financial aid including loans. If you have unused loan eligibility for either the fall or spring semester, you may want to talk with our Financial Aid Office to see if you can borrow additional funds to offset the added cost of Winter term.
Please be aware of the deposit requirements for the study abroad programs and when payments are due. Loan proceeds may be used to cover these deposits; however the loan disbursements are typically not available prior to deposit deadlines.
We encourage you to schedule an appointment with the Office of Financial Aid to discuss your individual financial aid options including paying your deposit. Please contact our office at 434.544.8228.