Financial Aid

Financial aid may be one of the most critical parts of choosing an abroad experience. The Center for International Education's Financial Aid for Study Abroad web page is a good resource to use to get started searching for sources of funding that may be available to you. It contains links to financial aid related web sites, including scholarship listings. It is your responsibility to complete all your financial planning prior to departure from the USA and to ensure you will have sufficient funds for the entire program abroad. In order to qualify for financial aid, you may need to carry a minimum load of quarter units during your time abroad. Your home institution and your school/department or major may have additional requirements. It is your responsibility to find out what these requirements are. 

Applying for Financial Aid

Financial Aid Disbursements

Potential Problems

Program Fee Payments

Changes in Your Situation

Financial Aid Applications for Next Year

Raising Funds

 

Applying for Financial Aid

The rules and regulations governing financial aid change frequently and the single best -- make that THE ONLY - totally accurate source of information about your financial aid application and/or package is the Financial Aid Office that is processing your financial aid forms - be that your home institution Financial Aid Office or the Financial Aid Office at your program or host campus. To find out if you are eligible for federal financial aid, you will need to complete and submit the Free Application for Federal Student Aid (FAFSA). Be sure to meet the FAFSA priority deadline(s) in order to receive all of the financial aid for which you are eligible. If you do receive financial aid through your host institution and/or program, you should keep the following things in mind:

• It is the responsibility of the host institution and/or program to send an accurate estimate of costs to prospective participants with each offer of admission to enable participants to make their decision. This is to allow participants to know what costs are involved in participation and to enable participants and their parents to begin preparations for financing their program abroad as soon as possible.
• A participant may be eligible for the same aid package that s/he would be eligible were s/he attending his/her home institutions. Because of additional costs which may arise out of going abroad, students may be eligible for aid through their program, even if they are not eligible at their home institution -- or the student may be eligible for some sort of additional aid not available through his/her home institution (e.g., work-study). Students should always check with the program regarding financial aid eligibility. If you don't ask, you won't know.
• At most host institutions, a student must be registered for a minimum of six semester credits to qualify for financial aid. Most host institutions semester programs are equal to 12-15 quarter units, and therefore all participants are enrolled full time and meet the enrollment requirements for financial aid. However, it is the student's responsibility to verify this.
• Remember, the Financial Aid Officer at your host program or institution must notify the the Financial Aid office at your home institution -- in writing -- of any financial aid you have been awarded by the program or sponsoring institution that is in addition to the aid you may have been awarded by your home institution.
• Take a copy of your financial aid award letter(s) with you when you go abroad in case you have questions while there. Before you depart, make sure that you know how much aid you are being awarded, in what form and when and how you will receive it. How much, if any, will be sent directly to you? How much will be sent to your sponsoring institution and by whom? How much will you need to pay in addition to your financial aid award.

Financial Aid Dispursements

Before departure, it is your responsibility to check with the appropriate Financial Aid Office(s) to be sure that you have met all requirements, completed all documents, and made the appropriate arrangements in order to process your financial aid and forward all of your financial aid disbursement and Stafford and/or Supplemental Loan checks to the sponsoring institution and/or program.

Make sure all of your financial aid awards, account balances and Stafford and/or Supplemental Loans disbursement the appropriate Financial Aid Offices prior to your departure. It is imperative that you understand which awards are or are not credited to your account at your sponsoring institution.

Potential Problems

If you are financing your time abroad by loans or grants, you must make careful arrangements regarding the their disbursements well before you leave. First and foremost , it is critical that you determine, well in advance of your departure, how much aid you will be receiving and what form it takes (Stafford loan, Pell grant, etc.). In many cases, you must wait to receive your money and you must sign for it before the appropriate Financial Aid or Bursar's office will release it to you. Hence, the two potential financial aid problems for students studying abroad are signatures and time lag.

SIGNATURES: Normally, the fact that you need to sign for your aid money before an institution can negotiate the check isn't a problem since you appear in person and sign. This time you will most likely be living abroad or in location that is far away at the time your signature is required. It is very important that you confer with all parties involved -- your home institution, the sponsoring institution and/or program's Bursar, your bank, and parent(s), relative(s) or close friend(s) -- to straighten out all the necessary details.

TIME LAG: The process of channeling your aid money from its source to your home and/or your host institution, then to your a parent/ relative/ close friend, and finally to you abroad, takes time. How quickly you will receive your bank loan or grant depends on how fast the appropriate Financial Aid Office(s) acts once they have received it. Loan and grant checks do not normally arrive until the term is more than half over and the reality of the situation may be that you are going to need a large proportion of your funds with you at the time you arrive at the abroad program site.

Discuss your financial aid award and other matters with whomever is to handle your financial affairs while you are abroad, and leave them a list of what must be done in your absence. It is particularly important that this person knows when, where, how much and to which institution (home or host institution/program) your program fees are to be paid.

Program Fee Payments

Regardless of the amount of financial aid you receive, you may still have fees or costs to pay to your sponsoring institution. Remember that you are complete responsible for any necessary financial arrangements. If your financial aid from your home and/or program is in excess of your program's fees, you will need to find out how any overpayment will be refunded to you. If your financial aid from your home institution and/or program is less than the program fees, you will be responsible for the balance due.

If you receive Stafford and/or Supplemental loans as part of your financial aid package, you will need to be very clear on which Financial Aid office is to receive the checks and how these arrangements are to be handled. Check with the appropriate Financial Aid Office(s) for the specific disbursement dates.

Changes in your situation

The financial aid awards you receive from UCI, your sponsoring institution and/or outside sources may be based on your financial aid eligibility and amounts are subject to change if your financial situation changes -- either for better or worse. Any changes in your financial situation should be communicated to the appropriate Financial Aid Office(s) as soon as possible. If you withdraw from your program, your financial aid package will probably change. You are responsible for any fees and/or financial aid disbursements already received which are not covered by your financial aid package.

If financial aid problems arise while you are abroad, contact the Financial Aid Office at your home institution or your program for assistance. In a financial emergency, the CIE Counselor may be able to help you communicate with the UCI Financial Aid Office and/or your sponsoring institution. However, communication is your responsibility. Plan carefully. It is not realistic to expect that emergency funds will be available.

Financial aid applications for next year

If you are currently receiving financial aid and/or plan to apply for financial aid for the academic year following your term(s) on an abroad program, be sure to contact your home institution's Financial Aid Office for application procedures and deadlines.

Raising funds

Here are some hints to help you find outside financing for your abroad experience:

1. Determine how much your (and/or your family) can contributed financially and how much you need.
2. Write a detailed, well written proposal of what you plan to do (on which program you are going, what courses you plan to take, what research you plan to do, etc.) and how it will further your overall academic and career goals. Be sure to include a clear budget breakdown of your costs.
3. Plan an oral presentation of you proposal. Include how you raised the money you are contributing and how long you have been working toward this goal.
4. Make a plan of who to contact to ask for assistance. Some suggestions include:
   • Community organizations that share your goals and/or experiences (ethnic associations, women's groups, service organizations, groups promoting understanding of your host country, civic groups in your hometown, etc.)
   • Academic and/or professional associations related to your academic goals. Ask professors and professionals in the field for ideas.
   • Local businesses related to your area of study or with an interest in the country in which you will be studying.
   • Individuals with financial resources who are sympathetic to you or your goals and interested (e.g., first generation in college, same ethnic background, similar academic area of specialization, career goal, etc.
   • Alumni of the program in which you will be participating.
5. Begin to meet with your target groups and/or individuals. When you meet, give your oral presentation. If appropriate, offer your written proposal so that it can be show to others in the organization. People are impressed with individuals who are organized and focused. When you get to the point of asking for money, one approach is to ask for "matching funds." For example, tell them that you have $5,000 and you are looking for five people/groups who can donate $1,000 each -- or 10 who can contributed $500 each.
6. Finally, consider asking the appropriate campus office, staff members or faculty for help. They may be available to help you make your dream possible by assisting you with your written proposal, oral presentation and compiling your target list.

GOOD LUCK!