Wednesday, August 20, 2008

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Financial Aid

An international experience is an incredible long-term asset that will open new horizons for you, help you in a future career, open doors to new international contacts and change your perception of the world. If it is not in the budget right now, don't worry! Financial aid is far more readily available for study abroad than you would imagine. Below we have compiled some resources to help you out:

Study Abroad Loans
Private Funding / Scholarships
Government Funding
Institutional / University Funding
Public Funding
Print Resources
Online Resources

Study Abroad Loans

International Education Finance Corporation (IEFC)

The IEFC is a premier provider of international student loan programs for students who wish to study in foreign countries. IEFC partners with top international loan guarantee agencies and lenders to make innovative, low cost education loans available to those seeking an international education experience.

IEFC offers a loan program that can be used on all Global Experiences programs for those candidates that meet the following requirements:

  • U.S. citizen
  • You are currently attending (or have attended in the previous six months) one of over 4,700 qualified US colleges or universities
  • You have been accepted to a Global Experiences program
  • You need to borrow between $1,000 and the total cost of program attendance (the maximum loan amount is the lesser of $35,000 or your domestic school's out-of-state tuition plus $5,000.

IEFC's study abroad loans are credit, not need, based and you do not require institutional pre-approval from your home institution to be eligible for this loan. For most borrowers, there are no origination fees associated with these loans and payments can be deferred until after graduation.

Learn more and apply on-line or by phone.

IEFC
424 Adams St.
Milton , MA 02186
(866) 761-4680
www.iefc.com

InternationalStudentLoan.com

InternationalStudentLoan.com provides access to loans to US Citizens who are planning to study abroad at either the undergraduate or graduate level, whilst attending a TERI-approved school within the USA. Participants can obtain the funds in as few as five business days from receipt of a completed application.

Learn more and apply on-line or by phone.

InternationalStudentLoan.com
(866) 235 2255

Note: Global Experiences can not influence the loan approval process.

Private Funding / Scholarships

Global Experiences Scholarships

Global Experiences is pleased to offer several $250 scholarships for students who participate in one of the Global Experiences programs listed below. Scholarship awards are only open to those who have been accepted and are enrolled into the program. See links below for scholarship deadlines, eligibility requirements and other details.

  • Australia Internship Scholarship (one available) Details >>
  • Italy Internship Scholarship (3 available) Details >>
  • France Internship Scholarship (one available) Details >>
  • United Kingdom Internship Scholarship (one available) Details >>
  • Spain Internship Scholarship (one available) Details >>
  • TEFL Cultural Immersion Scholarship (one available) Details >>

Global Horizon Project, Inc.

The Global Horizon Project aims to enable internationally-oriented students of color to secure the experiences necessary to mature their international interests, and thereby to establish and maintain an international orientation for their professional futures. GHP seeks to accomplish this through a diversified portfolio of educational programs and reference tools, including regional workshops on international careers as well as scholarships to sponsor students working internationally during summer semester. Visit Global Horizon Project, Inc. for details.

Sons of Italy Foundation / Global Experiences Italian Language + Internship Scholarship
(Scholarship deadline: February 28, 2008
)

The Sons of Italy Foundation (SIF) is the philanthropic arm of the Order Sons of Italy in America (OSIA), the oldest and largest organization for men and women of Italian heritage in the United States. The SIF was founded in 1959 as a private, grant-making institution with the purpose of preserving Italian American culture, encouraging educational excellence among Italian Americans and improving lives in other areas.

Eligibility: U.S. citizens of Italian descent (at least one Italian or Italian American grandparent) in their junior or senior year of undergraduate study for the Fall 2008 term, who have completed at least 2 semesters (or the equivalent) of university Italian language study. Previous SIF scholarship recipients are not eligible.

Visit www.osia.org/public/scholarships/study_special.asp for details and to apply.

Government Funding

The basic source of information on government funding is Federal Student Aid FSA: http://studentaid.ed.gov . This website provides you with information on financial support availability both for US and international students.

Federal funding is money supplied through Title IV of the Higher Education Act (recently updated and extended). You will qualify for the same amount and type of federal aid that you would receive at your home institution if you:

  • Participate in a study abroad program that is approved by your home institution and are taking a full-course load.
  • Will be earning credit toward your degree.

Institutional / University Funding

The vast majority of universities around the world are committed to fostering study abroad opportunities and provide financial aid for their students. Go to your University website and type “financial aid” in the search window. You most likely will have to demonstrate good academic standing and perhaps meet some other requirements to be eligible for this source of funding.

Ask for the assistance of your campus Financial Aid office. Make an appointment to discuss obtaining aid for study abroad. Do this as soon as you have a timeframe for your study abroad in mind. Also seek the help of your study abroad advisor who can provide guidance.

Public Funding

A great source of information about public funding (financial aid, grants, scholarships and beyond) is FinAid! : http://www.finaid.org/.

The International Education Financial Aid website, www.IEFA.org, is a leading resource listing financial aid information for students wishing to study in a foreign country. On this site you will find a comprehensive listing of grants, scholarships, loan programs and other information to assist you in your quest to study abroad.

Print Resources

Financial Aid for Study and Training Abroad, 2006-2008
by Gail Ann Schlachter and R. David Weber
Published by: Reference Service press, San Carlos CA, ISBN 1588410943

Financial Resources for International Study: A Guide For U.S Students
and Professionals
(Financial Resources for International Study)

by Marie O'Sullivan
Published by the Institute for International Education

Financial Aid for Study Abroad: A Manual For Advisors and Administrators
Edited by Stephen Cooper, William Crossey and Nancy Stubbs
Published by NAFSA: Association of International Educators, Washington DC

International Scholarship Directory
by Daniel Cassidy
Published by Career Press, 3rd edition 1993

Scholarships, Fellowships and Grants for Programs Abroad: A Handbook of
Awards for U.S Nationals for Study Research Abroad

Published by the American Collegiate Service

Online Resources

StudyAbroad.com
TransitionsAbroad.com
StudentServices.com
StudyAbroadFunding.org
FastWeb.com

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