01 Jul How To Use Financial Aid to Cover Study Abroad Tuition
Studying abroad exposes you to different cultures and experiences. But you want to make sure you can afford an international study program before you enroll. Learn more about using financial aid to pay for your study abroad tuition.
Complete Financial Aid Paperwork
Paying for your study abroad opportunity starts with the Free Application for Federal Student Aid or FAFSA. Complete this form as soon as possible. The amount and type of grants, loans and other financial aid you receive partially depend on your FAFSA information.
Choose an Eligible School
The federal financial aid you receive to attend a US-based school can cover your international education. However, both schools must participate in the Federal Student Loan Program. Also, verify additional qualifying conditions. For example, some schools require you to carry at least a half-time load of classes. Also, the courses must count toward your degree and not be solely for enrichment.
Understand Financial Aid Options
You can qualify for several forms of financial aid. Understand your options as you plan to pay for your study abroad program.
- Federal Grants
The federal government can award you grant money that you don’t have to repay. You could qualify for a need-based Pell Grant that’s awarded to full-time undergraduate students. Or receive a Federal Supplemental Educational Opportunities Grant or SEOG. Details like the school’s funding sources and when you apply to college affect your grant.
- Student Loans
Borrow money from the federal government in the form of a student loan. You’ll need to repay this money starting within six months after graduation. The Federal Stafford loan is one example. The fixed-interest rate loan is available for students with a financial need and is not dependent on credit history. The Federal Perkins loan is another option. Your school provides this low-interest loan you can repay over 10 years. Your parents can also use the Parent PLUS Loans for Undergraduate Students to finance your tuition, room, board, books, and supplies.
- Scholarships
Various schools and private organizations award scholarships to deserving students. The David L. Boren Undergraduate Scholarship is a scholarship specifically for studying abroad. Also, the National Security Education Program (NSEP) supports various language and cultural studies. If you qualify for a Federal Pell Grant, apply for the Benjamin A. Gilman International Scholarship.
- Work-Study
Apply for a work-study program at your international school, and use your paycheck to cover a portion of tuition costs. This option provides invaluable work experience and financial assistance.
Contact Your Schools’ Financial Aid Advisors
Financial aid eligibility varies between individuals. That’s why it’s essential to talk to the financial aid advisors at your current and prospective schools. Get accurate information about your financial aid status and the cost of your college education abroad. Then, document your conversations for future reference and planning purposes.
Don’t let finances keep you from attending an international study program. We support your dream to study abroad, so contact us today to learn more about your financial aid options.