Funding Study Abroad

Tea Todman - South Korea, Spring 2018

You are about to embark on an exciting and life-changing journey of academic enrichment and self-discovery. We are so excited for you and will be here every step of the way!

Don’t let financial matters deter you from study abroad!

Finances are often said to be a barrier to studying abroad. However, it is definitely feasible through financial aid, scholarships, community-based funding, and proper planning. We are committed to helping you navigate these resources in order to help facilitate your experience.

When you are determining what study abroad program is right for you it's important that you understand the different financial responsibilities with each program. Each exchange and faculty-led program has an Estimated Cost Sheet on it's page outlining what we estimate your costs will be. You control many of those costs and it's important that you consider daily costs, including luggage fees, communication (cell phones and data plans), local transportation, souvenirs, spending money, and other personal expenses when creating your budget. Costs depend highly on location and lifestyle.

	Exchange	Faculty-Led	Affiliate
SHSU Tuition	Your usual SHSU tuition rate based on number of credits	Your usual SHSU tuition rate based on number of credits	None
SHSU Fees	All mandatory SHSU fees less $275	All mandatory SHSU fees less $275	None
Study Abroad Service Fee	$200	$200	$200
International Medical Insurance	Varies by length of program, paid to SHSU	Included in program fee	Included in most programs
Program Fee	None	Varies by program	Varies by program
Additional Costs	Airfare, passport, visa, meals, educational expenses (see your program for specific details)

Check out our complete Funding Study Abroad guide here

Financial Aid

Student’s enrollment in a program of study abroad approved for credit may be considered enrolled at SHSU for the purpose of applying for assistance under the Federal Student Aid programs. It is possible to apply financial aid towards the cost of all programs offered by SHSU’s Office of International Programs. Even if you believe you are not eligible for financial aid or have not received it in the past, consider applying for the time when you’ll be abroad.

When to Apply

Complete your Free Application for Federal Student Aid (FAFSA) early. Applications for the following academic year are available October 1.
Due to the funding limitations of some programs, it is recommended you complete your FAFSA by March 15. This also allows Student Financial Aid and Scholarships to complete your award processing early.

How to Apply

Apply for a Federal Student Aid ID (FSAID) at www.fsaid.ed.gov. This is used to sign your FAFSA. A parent must also apply for an FSAID if you are considered a dependent student.
Complete your FAFSA online at www.fafsa.ed.gov. SHSU’s school code is 003606.

Assess your Eligibility

The SHSU Financial Aid and Scholarships Office generally allocates the maximum award possible to students based on need and cost of attendance. However, there is still an opportunity to increase your eligibility. Your study abroad coordinator can provide you with a Budget Increase Form for SHSU Study Abroad Programs if you wish to request an increase in your financial aid award.

Note: This does not guarantee that the amount of scholarships, grants, and/or most loans can be increased.

Using Financial Aid for Study Abroad

Most financial aid, scholarships, and grants can be used towards a study abroad program as long as you take academic credit towards your degree. However, there are some forms of financial aid that cannot be applied to the final program fee balance. Check with your donor or department to determine if you are eligible to use your award for study abroad. You must notify the GEC and Financial Aid if you withdraw from your program. Repayment of any federal aid already disbursed will be required.

Faculty-led and Exchange Programs

Students participating in faculty-led or exchange programs pay their normal SHSU tuition. Any financial aid received will apply to your student account as normal to pay charges on your account. Contact the Cashier's Office for any disbarment questions. Be aware that not all scholarships will disburse before faculty-led program fees are due; therefore, students should expect to pay at least some of their study abroad costs before being able to access scholarship awards.

Affiliated Programs

Affiliate program participants will be responsible for paying program providers directly. Any aid disbursed will be refunded to you based on your refund preferences unless you have a remaining balance from a previous semester. Not all scholarships will disburse before program fees are due; therefore, students should expect to pay at least some of their study abroad costs before being able to access scholarship awards.

Summer Financial Aid

Visit www.shsu.edu/dept/financial-aid for current information.

General Eligibility

Enroll in SHSU summer courses (minimum of 6 credits for undergraduates; 3 credits for graduates)
Valid FAFSA for the current school year. Summer is part of the previous fall and spring academic year
Complete the Summer Financial Aid Application on www.mysam.shsu.edu

Eligible students will receive summer financial aid notifications via email with further instructions.

Aid will be disbursed by the first day of classes at SHSU or the first day of your program, whichever is latest.

Summer funding is limited to your financial aid package from the preceding academic year. If you are able to save some financial aid from fall and spring semesters, you may be able to apply the remaining funds to your summer study abroad program.

Grants & Scholarships

There are many study abroad scholarships available from different sources. Most are competitive and will require some effort and planning on your part, but don’t let that stop you! Contact your study abroad advisor for more information about specific scholarship opportunities. Scholarship opportunities can be found at our Study Abroad Scholarships page.

Money Management & Resources

The key to success is to start planning at least a year in advance. This gives you time to estimate total costs and develop a funding plan. If costs are a concern, shop around to find programs that best fit your budget.

See Student Money Management Center’s Count Down to Study Abroad for a detailed recommended timeline.

Financial Coaching Session

All students applying to study abroad must complete a Financial Study Abroad Coaching Session with the Student Money Management Center. Your coach will help you financially prepare for your study abroad experience. They will help you create budgets, explore various funding options, and create financial plans. Visit www.shsu.edu/dept/smmc/ to set up a personal coaching session.

Budget for your Program

Use the Student Money Management Center's Study Abroad Budgeting sheet to help you plan.

When you are planning for your trip, learn the equivalent value of the currency you will use. Sites like Oanda can help you.
Determine your “income”- scholarships, grants, loans, and savings.
Figure out your pre trip needs - tuition, transportation, baggage, insurance, phone plan, emergency fund, etc.
Figure out your in-country expenses: housing, food, transportation. Check out a cost of living calculator - www.numbeo.com/cost-of-living/
Figure out your wants - excursions, souvenirs, entertainment, etc.
Continue to manage your money and find ways to save before and DURING your trip.

Additional Ideas

Airfare assistance

Purchase airfare using frequent flyer miles
STA Travel Book Now, Pay Later Program
Search for flights with student rates
- STA Travel
- StudentUniverse

Fundraising

Parents and extended family
Employer
Religious community and/or organizations
Cultural and/or ethnic organizations
Garage sale
Sell food such as homemade tamales or host a bake sale
Create and sell t-shirts
Odd jobs
Request funding for gifts, such as birthdays, holidays, and other special occasions
Write articles or podcasts for local news outlets
Crowdsourcing via GoFundMe, FundMyTravel, and Indiegogo