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Money Matters Funding your Study Abroad Program. Presented by: UT Study Abroad Office. Today we’ll discuss…. How to create a program budget and determine the REAL COST of study abroad Payment due dates and withdrawal policy What funding sources are available to UT students ? Loans - PowerPoint PPT Presentation
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Money MattersFunding your Study Abroad Program
Presented by: UT Study Abroad Office
+Today we’ll discuss…
How to create a program budget and determine the REAL COST of study abroad
Payment due dates and withdrawal policy What funding sources are available to UT
students? Loans Scholarships
$$ $$ $$$ $$ $
+Program CostSample Budget Language & Culture in Turkey 2012 Budget
Application Fee $50Tuition $1593Affiliated Studies Fee $400Program Fee $2500Books and Materials $110Food $420Airfare $1500Local Transportation $80Personal Items $200Medical Insurance $95Passport $135Visa $20Emergency Funds $500Total $7603
+Payment Due Dates Non-refundable deposit of $300: January 20, 2012
Buenos Aires due: January 31, 2012 Failure to pay will result in student being dropped from the
program
Program balance: May 1, 2012 Posted on What I Owe by 12th class day Program balance may be deferred to financial aid at
https://utdirect.utexas.edu/io/bus/bill/student_deferral.WBX
Funds may not be disbursed until after program begins
+Withdrawal No refunds on application fee or deposit Withdraw by February 29, 2012 to avoid an additional
financial penalty. In addition to the study abroad program fee, the
student is responsible for payment of University tuition and fees in accordance with the policy found in the University’s course schedule.
Withdraw Schedule
Financial Penalty
March 1 to March 14, 2012
20% of program fee
March 15 to March 31, 2012
30% of program fee
April 1 to April 15, 2012 50% of program feeApril 15 to April 30, 2012
75% of program fee
May 1 and after 100% of program fee
+Withdrawal, Dismissal, or Cancellation Students are advised to investigate the coverage and
cost of a Travel Insurance Policy that might cover some costs associated with air travel, accommodations, food, books/supplies or miscellaneous costs of living overseas in case of program withdrawal, dismissal, or cancellation.
If a student is dismissed from a program, no refund will be given.
+UT Tuition
Register for study abroad courses Pay UT tuition bill
UT course = UT tuition Non-UT course =
$400 Affiliated Studies fee
Late spring
+Start Planning Today Research scholarships
now, even if they’re not yet open
Consider priorities Try to be flexible Save money Begin researching ticket
prices Don’t purchase airfare
until travel dates are confirmed (Blackboard)
+UT Financial Aid
Financial aid provides: Loans Grants Scholarships
Your financial aid package will be adjusted to reflect the cost of study abroad.
You should plan to apply for financial aid as early as possible at http:/www.fafsa.ed.gov/
UT FAFSA Priority Funding Date for summer/fall/spring - March 15
+UT Financial Aid
Complete budget module on MySAO around April 1 Program balance is due May 1st and can de deferred Aid awarded in late May (E-FAN) Disbursement may occur after you have left the states
+Loans: are they right for you?
The best student loans can be applied for through FAFSA!
Study Abroad is an investment decision
It’s beneficial professionally It’s beneficial academically A co-signer may be required
+Scholarships
Location – Look for country-specific scholarships You – There are more scholarships available for certain
student groups (minorities, underrepresented majors, etc.)
Things to consider
+Scholarships
GLOBAL ASSIST & UT scholarships Click on “Get Started” and the database will match you to
scholarships for which you are eligible http://utdirect.utexas.edu/student/abroad/globalassist.WBX
IEFS Scholarship (typically $1200, due March 1)
Regional Foundation Library National scholarships
Gilman (Due March 1) Diversity Abroad
UT & National
+UT Scholarships
College/Departmental scholarships Spanish & Portuguese Faculty-led Programs: Argentina,
Brazil, Spain or Guatemala. Number and amount of awards vary. The competition opens January 5
Climate Change, Ecosystems and Human Dynamics in Botswana: Number of awards vary and range from approximately $500-$2000. Deadline extended to March 1
Geography in Buenos Aires, Argentina: For students participating in the Geography section of the Buenos Aires Faculty-led program. Number of awards vary and range from approximately $500-$2000. Deadline extended to March 1
Sustainable Architecture and Design in Munich, Germany. The School of Architecture provides a travel grant of $1000 for each architecture major participating in the architecture faculty-led program. No application necessary.
Apply via GLOBAL ASSIST
+Scholarships
Keep the prompt in mind Research your audience Use concrete details Add a personal touch Proofread the essay! Consider going to the Undergraduate Writing Center
(FAC 211)
Application Tips
Most summer scholarship deadlines: Feb 15 – March 1
+Pre-departure Forms
Pre-departure forms due April 1 Health Clearance Form due
April 1 Make appointment with UHS
ASAP as appointments fill up Can be done by regular
doctor or Austin-area clinic Failure to submit form to SAO
by deadline will result in being dropped from the program without refund
Important Dates
+Before you go…
Notify your bank of travel plans so they don’t freeze your debit/credit cards.
Research conversion rates and fees for using debit/credit cards abroad.
+Recap Create a budget to
determine the REAL COST of Study Abroad
Payment due dates and withdrawal policy
Funding sources for UT students Loans Scholarships
You should be an active participant in finding the best funding and programs
+THANK YOU!
Sukran
Gracias
Tesekkurler
Shukria
Cheers
Spasiba
Obrigada
Dziekuje
Grazie
Moteshakeram
Shukriyaa
Toda Danke
Merci
Do je
Aitäh
Domo