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Financing Study Abroad

Financing Study Abroad. “Can I afford to study ABROAD?. Barcelona. Morocco. Greece. London. Argentina. Prepared and Presented by Dionne L. Hallback 9/25/13. TCNJ Office of Student Financial Assistance. Objectives.

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Financing Study Abroad

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  1. Financing Study Abroad “Can I afford to study ABROAD? Barcelona Morocco Greece London Argentina Prepared and Presented by Dionne L. Hallback 9/25/13 TCNJ Office of Student Financial Assistance

  2. Objectives Distinguish between Exchange Program, TCNJ Off Site Global Campus, Program Provider Abroad Study and Faculty-Led Programs • Can all financial aid (federal, state, scholarship) funds be used to fund Study Abroad programs? • Scholarships – Are there scholarships for studying abroad? • Evaluating if your financial aid is adequate or if you need additional financial aid to Study Abroad? • Importance of meeting with a Financial Aid Counselor

  3. What’s the difference? Exchange Program • Per the exchange program agreement, students from exchange universities can study at TCNJ and TCNJ students can study abroad. • TCNJ bills the student for tuition and fees. • Host Institution Program bills the student for other expenses (i.e. room & board, meals, etc.) TCNJ Semester Programs (Off-Site Global Programs) • TCNJ has an agreement with a few abroad schools which are TCNJ “Branded” Abroad Programs. • TCNJ bills the student for tuition and fees • Host Institution bills the student for room and board • Faculty Led Programs • TCNJ Faculty travels & teaches with TCNJ students abroad. • TCNJ bills the student for the program costs (tuition, accommodations, etc.) Program Provider Programs • All costs are paid directly to the program provider • TCNJ does not bill the student.

  4. Examples of Study Abroad Programs *Consult the Center for Global Engagement website for the full list of Study Abroad Programs*

  5. Can Financial Aid be used to pay for Study Abroad Programs? Must be considered a “full time” Undergraduate student: 12 credit (3 Units) for the Fall and Spring semester.

  6. Scholarships • Benjamin Gilman Scholarship The Gilman Scholarship Program offers awards for undergraduate study abroad and was established by the International Academic Opportunity Act of 2000. This scholarship provides awards for U.S. undergraduate students who are receiving Federal Pell Grant funding at a two-year or four-year college or university to participate in study and intern abroad programs worldwide. • Program Provider scholarships Many of the Program Providers (i.e. ISA, CIEE, etc.) offer scholarships through their programs. Contact the Program Provider or check their website. • TCNJ Center for Global Engagement Website The link for Resources has a section “Financing Study Abroad” which list scholarships links.

  7. How much financial aid can I use for Study Abroad? View #1 : Student Center > Finances > View Financial Aid • View #2 : Student Center > Finances > Other financial > Pending Financial Aid *Loan fees deducted. *Amount of aid disbursed your account.

  8. Meet with a Financial Aid Counselor During the Financial Aid counseling session we will review the following: • Study Abroad Cost • Bring your Program Cost Sheet to the appointment. You can obtain a Program Cost Sheet on the Center for Global Engagement website or stop by their office (Green Hall 111). • Financial Aid • Review your current financial aid award. • If you need additional money a Financial Aid counselor will review other financial aid options if applicable. • Budget • Do you need to pay for just the program costs (tuition, fees, room, board)? • Do you need additional money for other expenses (food, transportation, personal spending money)? • TCNJ Auxiliary Access • Grant a third party to conduct business on your behalf while you are studying abroad. • Refund checks • Timeline for refund checks

  9. Study Abroad Refund Checks (if applicable) Refund Direct Deposit *The Office of Student Account manages the refund process*

  10. Study Abroad Cost Sheet • 1. Check the name of the ‘Sponsor’ (A) • *This lists the ‘type” of Study Abroad Program. • Financial Aid Budget: to determine your • financial aid budget which determines how • much aid you can receive for the Study Abroad • program add the following: • Total Program/Misc. Costs (B) • Airfare (Estimated) (C) • 3. Review your Financial Aid awards listed in • PAWS to determine: • If all of your Financial Aid can pay for the Study Abroad costs. • If you need to research scholarship opportunities. • If you need to borrow loans to pay for any additional expenses.

  11. Contacts Office of Student Financial Assistance Green Hall 101 609-771-2211 osfa@tcnj.edu Dionne L. Hallback Tom Foga *Financial Aid Counseling* Center for Global Engagement Green Hall 111 609-771-2596 *Consultation regarding the Study Abroad Opportunities*

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