Preparing to Go Abroad: Financial Aid

Financing study abroad can be extremely worrying and taxing. I honestly did not think I would get enough money. Most universities offer the ability to ‘reevalute’ your FAFSA (if you are from the United States) and if your school offers it, there are also trust fund loans. In my experience, the process of getting more aid was easier than I thought. The financial aid office at my school has advisers for a SACE (study abroad cost estimate) evaluation. Once I completed a meeting with said advisor, I was able to turn in a SACE request and then get an official document to turn in to the schools financial aid office. I highly recommend checking your university policy on evaluating your FAFSA, though I can’t imagine they wouldn’t do this for you.
There are a few other ways to finance your study abroad through loans and scholarships. My state offers a student loan program with fairly low interest rates that are better than a federal loan, so check with your financial aid office to see if there is any in-state loans for students. A little disclaimer: if you need a cosigner and do not know anyone in good financial standing this might be tricky. I personally could not get loans from parent bankruptcy and such. As for scholarships, most universities (mine included) offer up a grant to the student that is usually $1,000 or less if you receive aid. Most universities also offer scholarships on their website (check the centre for study abroad and the financial aid office) or through your specific college and department. As always there are also public scholarship websites as well, or if you are going through a program like CIEE, they have their own scholarships.
Anyways, feel free to ask any questions and as always check with you financial aid office for more funding information!

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