1. Your Study Abroad Program Costs (required reading for all study abroad students - slides 1 through 12) Understanding Financial Aid & Study Abroad (required reading for all students on financial aid - slides 1 through 22) For Summer

2. Contacts for Billing and Financial Aid Questions Ginger Ellison, Office of International Education –Monday: 9:00 to 11:30 & 2:00 to 4:00 –Wednesday & Thursday: 9:00 to 12:30 –Study Abroad Programs Office –303 492-7741 –Ginger.Ellison@Colorado.eduGinger.Ellison@Colorado.edu Christie Carrier, Office of Financial Aid in Regent –303 492-7347 (call for appointment) –Christie.Carrier@Colorado.eduChristie.Carrier@Colorado.edu Marie Cox, Office of International Education –Study Abroad Programs Office –303 492-7741 –Marie.Cox@Colorado.eduMarie.Cox@Colorado.edu

3. Paying Your Bill You signed a contract with the CU Boulder Study Abroad Programs office, so you pay us and we pay the program providers such as CIEE, GlobaLinks, Semester at Sea, SIT, ISA etc. There are a few exceptions where you may need to pay the program provider directly: deposits, course fees, additional instructional costs, special excursions and all or partial housing costs. CHECK your program costs on the Study Abroad website for any exceptions. http://studyabroad.colorado.edu/?go =programcosts http://studyabroad.colorado.edu/?go =programcosts You may not register for the next semester, re-enroll at CU-Boulder, and/or access transcripts until your study abroad program fees have been paid.

4. Paying Your Bursar Bill Just like every semester you will receive an email when your CUBill&Pay statement is available on line. CUBill&Pay allows students and authorized payers to safely & securly: View & pay tuition online (from a checking or savings account) View statement & payment history Set up parents & other authorized payers to view & pay your bills It remains your responsibility to check for the latest e-bill & pay it by the due date to avoid late fees & service charges. Check your account balance on MyCUinfo monthly to be aware of any balance due. View the CU Boulder Bursar’s website for more billing & payment information.

5. Due Dates CU Study Abroad Summer due dates are the same as CU Boulder campus Summer Session D The exact due date is posted on your e-bill and on your Study Abroad Cost Page. Summer Session D due date is around the 3 rd week in June. You will receive an email with a link to MyCUinfo to view & pay your latest e-bill. You may authorize other people to receive and pay your e-bill. Set up authorized users on the financial section under billing on MyCUinfo. It remains your responsibility to check for the latest e-bill & pay it by the due date to avoid late fees & service charges. You may always check your account balance on MyCUinfo – click on the finance tab.

6. Understand Your Study Abroad Costs For the most part, you pay the same types of costs on study abroad as you pay here at CU. The Program Fee is what you will be charged (what will appear on your CU Bursar bill.) Estimated additional costs include estimates of expenses you will pay but not to CU. Estimated costs will include airfare, books & supplies, personal expenses, visa fees, local transportation and may include some or all meals and housing.

7. Your Study Abroad Program Cost Page Be familiar with the cost page for your study abroad program. Please take a moment to look here: http://studyabroad.colorado.edu/?go=programcosts http://studyabroad.colorado.edu/?go=programcosts (Semester at Sea students-for country, scroll down & click on “Worldwide”) Cost information you need to know: –Program fee & what it includes –Estimated costs of expenses not included in program fee –Payment schedule with due dates –Withdrawal policy and schedule Please share the cost information with your parents if they will be paying your bill and have them call Ginger in the Study Abroad Office if they have any questions.

8. Funding Your Study Abroad Program Now is the time to think about ways in which you will be funding your study abroad program. Sources of funding include parents, personal savings, possible scholarships, financial aid and loans. Be sure to look into scholarship possibilities here: http://studyabroad.colorado.edu/?go=scholar ships http://studyabroad.colorado.edu/?go=scholar ships Read more about Study Abroad Finances here: Sarah-could you create a “friendly URL” to the “Finances” section here? Be sure to view your individual study abroad program brochure for links to additional scholarships.

9. Study Abroad Program Costs Summer - example Study Abroad Program Fee Instructional Costs$6,454 (Non-resident add $1060) Insurance$ 269 Room & Board in fee$1,900 Total Program Fees$8,623 This is what you pay CU Estimated Costs Not Included in Program Fee Books & Supplies$ 500 Personal Expenses$1,600 Airfare$1,204 Total Estimated Costs$3,304 Out of pocket expenses Total of what you pay to CU & your Out of pocket expenses $11,927 ($12,987 for Non-resident)

10. Study Abroad Program Costs – example (cont’d) Included in Program Fee what you pay to CU Program fees generally include instructional costs (tuition,) health insurance and Administrative fees. In addition, it may include room and/or meals and field trips. Excluded from Program fee what you pay to others Round trip travel to host country, visa fees, local transportation, books, personal expenses, weekend and vacation travel and, if not included in the program fee, room and meals.

11. If You Withdraw If you are considering withdrawing from your study abroad program contact the CU Study Abroad Office immediately. Withdrawal can result in expensive withdrawal fees, suspension of your financial aid and the need to repay what you have already received. The withdrawal schedule for your program is here: http://studyabroad.colorado.edu/?go=programcosts http://studyabroad.colorado.edu/?go=programcosts Withdrawal fees can be sizable depending on your withdrawal date. »All withdrawals must be in writing (email is acceptable) and sent to the Study Abroad Office. If you neglect to put your withdrawal notification in writing, you will be charged the full program fee regardless of when you withdraw. »Upon receipt of written notification, the withdrawal fee will be calculated according to the schedule on your program cost page. The date that OIE receives your written notification will be considered the official withdrawal date.

12. Things to Note: You may want to assign someone as your Power of Attorney (POA). A POA can handle your business and personal matters while you are abroad. Limited Power of Attorney forms can be found online. Search on “legal forms.” Whoever you appoint as POW should keep the original Power of Attorney form. If you have been awarded work-study as part of your financial aid package, it cannot be used while you are studying abroad because work-study does not exist overseas.

13. General Summer Financial Aid Checklist: If you haven’t already done so, complete the current FAFSA as soon as possible. FAFSA Complete a Summer Aid Application online via the Financial Aid link within MyCUinfo. Available February 1 thru July 15. Read your email – it is how the Financial Aid office will notify you about missing documents, your application status, and your award offer. The Office of Financial Aid will adjust your budget and send you an award letter via email. Your award can also be viewed on MyCUinfo. Accept student loans and parent loans on-line and complete necessary loan documents at least one week prior to the end of your final summer session. The Financial Aid Office cannot process a loan after your classes end.student loansparent loans

14. Specifics for Summer Study Abroad Financial Aid Study Abroad will give the Office of Financial Aid your name, student ID and Study Abroad program costs in the first week of April (first week of March for programs beginning in May.) Your summer financial aid award is what you have remaining from your current academic year award along with a PLUS or Alternative loan. Important: In order to receive your eligible aid, you must be taking at least 6 credit hours during the summer. It can be study abroad hours or a combination of study abroad and Boulder Summer campus hours. Sign up for direct deposit on MyCUInfo under the financial section. It's required!direct deposit

15. Applying Financial Aid to your Study Abroad Bursar B ill Financial aid and/or scholarships will be applied to your CU Bursar account at the same time your program fees are applied. You then receive either an e-bill for any balance due or a refund. It might look something like this: Stdy Abd in Italy $6,000 Subsidized Loan-$2,000 Balance due $4,000 Or like this: Stdy Abd in Italy $6,000 Subsidized Loan- $2,000 Unsubsidized loan- $1,000 Parent Plus loan- $4,000 Refund $1,000

16. Restating the Facts Fill out a Summer Financial Aid application online at MyCUinfo – click on the Finance tab. The Summer term at CU-Boulder is considered the last term of the year. What that means is that if you use all your financial aid money during the academic year (August-May), you will only have Parent Plus or Alternative Loan options for Summer (May-August.) Study Abroad will notify the Office of Financial Aid of your Study Abroad program costs within the first week of March for programs beginning in May & within the first week of April for all other Summer programs. The Office of Financial Aid will adjust your budget and send you a revised award letter via email. Your award can also be viewed on MyCUinfo.

17. When are financial aid funds posted to my Bursar account? Summer aid is posted to your Bursar account at the same time summer charges are applied. All aid, including scholarships, is applied to your CU Bursar account. Financial aid funds are posted to student bills as long as all conditions for disbursement have been met. You will then receive a bill for the balance due or a refund. Summer Tuition Due Dates: Summer Study Abroad tuition is due around the 3 rd week in June for all Summer study abroad programs.

18. Financial Aid Refunds may not be available before you leave for your program. Please budget accordingly! If you are getting enough financial aid to cover your tuition & fees and some or all of your personal expenses, airfare and books, you will receive a refund. If you are taking a maymester course and a CU- Boulder Summer course, your refund will be available in early May if you are signed up for direct deposit. If you are not signed up for a maymester course, you will be enrolled in Study Abroad Summer Session D and your refund will be available in late May. If you fail to sign up for direct deposit a refund check will be mailed to your Boulder address in late May.

19. Beware: Some Summer Study Abroad Programs Start before your Financial Aid Refund is Available Many Global Seminars and some other Study Abroad Summer programs begin in May. Depending on your start date, you may depart & return before even being billed for your Study Abroad program. Be aware that program start dates change from year to year. Check your program start date! If your program starts in May, and you are expecting a refund, be aware that you will have living and possibly housing expenses that must be paid before your financial aid refund is disbursed. Check your program start date and plan to have enough money to meet your needs until your refund is available.

20. Think ahead to Fall & Spring Your FAFSA for the upcoming year You can start applying for Fall/Spring aid on January 2nd. Some sources of aid are finite and are awarded on a first come basis so apply as early as possible. Apply for financial aid by going to: www.fafsa.ed.gov Remember the CU-Boulder campus Scholarship deadline is March 1 st each year. Apply on online at: www.colorado.edu/finaid/scholarships.htm

21. Questions? Please be informed Read your Cost Page http://studyabroad.colorado.edu/?go=programcosts http://studyabroad.colorado.edu/?go=programcosts Read your Essential Guide http://studyabroad.colorado.edu/?go=EssentialGuide http://studyabroad.colorado.edu/?go=EssentialGuide Read your Program Handbook http://studyabroad.colorado.edu/?go=ProgramHandbooks http://studyabroad.colorado.edu/?go=ProgramHandbooks After reading the materials listed above, if you still have questions regarding your financial aid or your study abroad program costs, please come in to the Study Abroad Office. We are here to help. Questions?