The Office of Student Financial Aid works closely with Study Abroad to facilitate the application of financial aid toward the cost of participating in UI study abroad programs. After the program’s application deadline, Study Abroad provides Financial Aid with a list of program participants and a detailed breakdown of the program’s cost. Financial Aid will adjust individual students’ financial aid packages to reflect the cost of the program (rather than the corresponding session at the UI), and notify all students by mail of the adjustments made.

For students going on a semester or academic year program, the whole process will work, in theory, without requiring you to make any additional visits to Financial Aid. Student on summer programs will need to establish with the Financial Aid office if they have summer eligibility for aid. If you have any questions about the likely impact of participating in a specific program on your financial aid package or about the instructions and procedures which follow, you are welcome to meet with a walk-in counselor in 208 Calvin Hall.

Procedures

If you receive financial aid or if you receive a UI scholarship disbursed through the Office of Student Financial Aid, you need to be aware of or take care of the following items in order to receive your financial aid for study abroad:

Getting Ready

• If you want federal financial aid, be sure you have filed all the necessary financial aid papers:
  • Free Application for Federal Student Aid plus all supporting documentation
  • Promissory notes for all loans you accept
  • Entrance Counseling form if you are a first-time loan borrower
• If you are going on a summer program, visit the Financial Aid office to determine eligibility for aid for the summer term.
• Register for the appropriate program according to the instructions given to you by Study Abroad. Note that students may not register for more than 18 hours per semester. (If you have preregistered for UI hours and later decide to study abroad, be sure to drop your other UI classes.)
• To facilitate receipt of financial aid while you are abroad, you may wish to authorize the Cashier’s Office to deposit funds directly into your bank account. Please contact the Cashier for the proper authorization form.
• You are strongly encouraged to give a parent or other responsible adult power of attorney to sign legal documents on your behalf while you are abroad. You must specifically authorize this person to sign promissory notes for educational loans in order for the Direct Loan Servicing Center to accept his or her signature on a loan note.

Getting Your Financial Aid

For most programs sponsored by The University of Iowa, financial aid will be credited to your U-bill to cover your program fees. The balance of your financial aid will be refunded to you to help you cover incidental expenses.

The earliest financial aid can be disbursed is 10 days prior to the start of your classes.

Note: For students participating in USAC Programs to Chile, Costa Rica, Spain San Sebastian, Bilbao, Alicante or Madrid, you will be billed only the $200 deposit on your U-bill. Most of your program fee will be billed to you by invoice from the program central office in Nevada. It is your responsibility to pay this bill from the financial aid that is disbursed to you.)

These instructions were prepared by the Office of Student Financial Aid. If you have any additional questions about the procedures for applying financial aid toward the cost of participating in a study abroad program, contact a Counselor at the Office of Student Financial Aid, 208 Calvin Hall.