Information to help you achieve your educational goals

Financial aid for study abroad

Amendments made in 1992 to the Higher Education Act of 1965, TITLE VI, SEC. 601-604[1] in the U.S. ruled that students can receive financial aid for study abroad if they are enrolled in a program that is approved by their home institution and would be eligible to receive government funding without regard to whether the study abroad program is required as a part of the student's degree. Federal law also states that financial aid can cover all "reasonable" costs for a study abroad program, including:

  • Round-trip transportation for the approved program
  • Tuition and fees for the program
  • Living costs incurred during the program
  • Passport and visa fees
  • Health insurance

To get government aid, students must complete the Federal Application for Student Aid (FAFSA). Funds are awarded by the US Department of Education. As long as the issuing institution pre-approves the credit to be earned abroad, federal aid can be used toward study abroad programs.

Eligibility criteria for U.S. government aid

  • Be enrolled in an eligible (Title IV) institution as a regular student seeking a degree or certificate (This is your home institution, not the overseas school/institution.)
  • Be a citizen of the United States with a valid Social Security number
  • Have a high school diploma or a General Education Development (GED) certificate
  • If you are a male, you must be registered for Selective Service
  • Have a result of Eligible or Partially Eligible on question 35 (drug-related conviction) of the Free Application for Federal Student Aid (FAFSA)

Forms of government aid

  • Stafford Loan (FFEL)
  • PLUS Loan
  • Perkins Loan
  • Pell Grant

Other financing options

Private student loans

Private student loans are not guaranteed by a government agency, but generally offer higher loan limits, grace period with no payments due until after graduation, and base availability on credit history vs. financial need. Private loans are a good option:

  • If federal financial aid doesn't cover all study abroad tuition, living arrangements, and/or transportation costs
  • If a student is not eligible for federal financial aid
  • If a student is not currently enrolled in a U.S. college or university

Scholarships

Scholarships are offered by a number of organizations and foundations. Scholarships, like government grants, can be highly competitive, because students aren't required to repay the money awarded. Because of this uncertainty, it is not the most reliable method for paying for study abroad. Research into available scholarships and private grants should be initiated well in advance of a student's planned travel date, and/or private or government aid should also be sought.

This article contains information from the Wikipedia.


Study Abroad