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STUDY ABROAD

Students studying abroad for the summer term will have limited financial aid options.  In most cases, the student will only qualify for student loans which include the Direct Student Loan, the parent PLUS loan or private loans. Students must be enrolled in at least 6 credit hours to qualify for financial aid for the Summer. If the Study Abroad program alone does not qualify the student for financial aid, the student may take additional hours on Ground for the summer to help them reach the 6-hour minimum.

If you are studying abroad with Semester at Sea, please visit our Semester at Sea page.

How to Apply for Summer Study Abroad Financial Aid
Financial aid available for study abroad
Financing options for study abroad
How to use financial aid to pay for your study abroad program
Preparing to study abroad


How to Apply for Summer Study Abroad Financial Aid

  1. Complete the Free Application for Federal Student Aid (FAFSA) and the University Financial Aid Application. If you are selected for verification, you must also submit a signed copy of your parent’s federal tax return and W-2 form/Parent Non-filer Statement and a signed copy of your federal tax return/Student Non-filer Statement. Requests for this documentation will be added to your SIS Student Center To-Do List.

    If you are studying abroad during the summer term and have already submitted the above forms for the current year, you will not need to complete these forms again. Your financial aid eligibility for the summer will be reviewed beginning in March. Adjustments to your financial aid will be available to view on your SIS Student Center.

  2. On your Study Abroad Financial application, answer yes to the question: “Do you wish to apply for financial aid for study abroad?” Answering yes to this question allows Student Financial Services to be notified of your request to be considered for financial aid.

  3. THOSE IN NON-UVA PROGRAMS, PLEASE COMPLETE STEPS 3 AND 4. Check to see if UVa has a consortium agreement on file with your study abroad institution, or host school. Study abroad consortium agreements on file are listed here:

    Study Abroad Consortium Agreements On-File

    A consortium agreement is a contract between UVA and a host institution and is signed by each school’s registrar and financial aid office. A valid consortium agreement must be on file in order for you to be eligible for financial aid during your study abroad term. If you do not see your study abroad institution on this list, please contact our office for a blank consortium agreement.

  4. Submit official costs of your study abroad program if you are studying on non-UVA programs and exchange programs. The costs affiliated with the term or year abroad should include required program fees and expenses including books, room and board, local transportation, airfare, and personal expenses. Official costs are defined as costs provided by the study abroad program (i.e. program brochure, website). Making personal estimates and submitting these estimates is not sufficient.  You must indicate on the Cost List your enrolled hours for summer study abroad.


Summer Study Abroad Cost List (coming Spring 2014)


Financial aid available for study abroad

The review of your financial aid eligibility begins by establishing a cost of attendance (COA) for your study abroad program. The cost of attendance consists of items such as program fees, room and board or living expenses, book and supplies, airfare, and personal expenses. The cost of attendance for UVA programs are set by the International Studies Office.

After your COA for your study abroad term has been determined, we calculate your financial need. Financial need is defined as the difference between your cost of attendance and your expected family contribution. Once your financial need is calculated, we apply the financial aid that you would have been eligible to receive if you were studying on Grounds for the same term.

Reminder:

  • In most cases, Student Financial Services (SFS) does not award grant aid to cover summer study abroad programs. 
  • In most cases, the cost for summer study abroad can be covered by Parent PLUS or private loans.  Most students have already used their annual maximum for the Direct Loan.  If you are unsure of your Direct Loan availability, check your SIS Student Center under View Financial Aid. 

Please remember to report any scholarships that you have been awarded for your study abroad program to Student Financial Services. Your scholarship(s) may affect your financial aid eligibility.

Once your financial aid eligibility has been reviewed, you will see adjustments to your financial aid in your SIS Student Center under View Financial Aid. If you have been offered Federal Direct Loans or Federal Perkins loans and you wish to borrow these loans, you must accept these awards online.

If you are a first time Federal Direct Loan borrower, please:
1) Accept/Decline your Direct Loans in your SIS Student Center.
2) Complete an Application/Master Promissory Note and Loan Entrance Counseling at studentloans.gov

If you are not a first time Federal Direct Loan borrower, follow these steps:
1) Accept/Decline your Federal Direct loans in your SIS Student Center.

If you are first time Perkins loan borrower, follow these steps:
1) Accept/Decline your Perkins loan in your SIS Student Center.
2) Complete the Master Promissory Note at http://ipromise.campuspartners.com
3) Complete Loan Entrance Counseling at http://ipromise.campuspartners.com

If you are not a first time Perkins loan borrower, follow these steps:
1) Accept/Decline your Perkins loan in your SIS Student Center.


Financing options for study abroad

If the financial aid awarded to you for your study abroad term is not sufficient to cover your costs, your financing options are to borrow a Parent PLUS loan or a private student loan. More information about Parent PLUS loans or private student loans is available on our website under Types of Aid, Loans.  To apply, parents must complete the UVa Summer PLUS loan application.

SUMMER 2014 Direct Parent PLUS Loan Application Form (coming Spring 2014)

Once your Parent PLUS loan or private student loan has been certified, you will see the loan(s) on your SIS Student Center. Please be sure to respond promptly to any requests made by your lender since this may cause delays in the processing of your loan.

Virginia Pre-Paid Plans (VPEP) is applicable to all UVA programs and Exchange programs.

Please keep in mind that the University payment plan cannot be used to pay for study abroad programs.


How to use financial aid to pay for your study abroad program

The University of Virginia cannot pay funds directly to your study abroad institution or program. It is your responsibility to pay all study abroad costs to your host institution. Instead of billing you directly for study abroad costs, UVA will generate a leave of absence fee for the term in which you are studying abroad.

Per federal regulations, financial aid funds cannot be disbursed any earlier than 10 days prior to the beginning of each UVA term. This means that you may be required to pay all or a portion of your study abroad costs up front if your program requires advance payment. Some study abroad programs offer payment delay forms that allow the deferment of your program fees that will be covered by pending financial aid. Check with your host institution or program directly for these options.

Once your financial aid for your study abroad term is disbursed to your student account, any credits will be refunded to you directly. If you have signed up for direct deposit with UVA’s Payroll Office, your refund will be electronically transferred to the designated checking or savings account. On average, the timeline for direct deposit refunds is 3-5 business days. If you do not have direct deposit set up with UVA, your refund will be mailed as a paper check to the current address you have listed in SIS. On average, paper refunds take 7-10 business days to process. Your financial aid refund check is intended to be used to pay for educational costs related to your study abroad program.

To check on the status of your financial aid disbursement and refund, log into your QuikPay account and select Current Account Activity for a real time view of your student account transactions.


Preparing to study abroad

  • Ensure that our office has an Authorization to Release Financial Information form on file – this form gives our office permission to speak to the individuals you designate. A blank form is available on our website under the Forms link.
  • Update your current mailing address in SIS.
  • Set up Direct Deposit with UVa Human Resources, Payroll Department to ensure more timely receipt of your refunds.
  • Consider having your mail forwarded to your permanent address.
  • Discuss giving Power of Attorney to your parent or guardian
  • Monitor your UVA Quikpay account for current account activity. Current account activity provides you with a real time view of all charges and credits on your student account. You are responsible for ensuring that all outstanding balances are paid.
  • Continue to check your SIS Student Center.
  • Continue to check your UVA email – our office frequently sends email correspondence as official notification and will only send emails to your UVA email address.

Transfer of Study Abroad Credits and Satisfactory Academic Progress

It is essential that your credit hours be transferred to the University as soon as possible following your term or year abroad because this could impact your Satisfactory Academic Progress.

If you enrolled in fewer hours than you reported to Student Financial Services, your financial aid could be reduced or cancelled.

 

 

 
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Last Modified: Monday, 19-August-2013 17:08:11 EDT
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