1. FINANCIAL AID ORIENTATION SPRING 2015 (FALL 2015 SEMESTER PROGRAMS) Heather Thompson Director, Study Abroad Liaison to UT Office of Student Financial Services Cierra Campbell Academic Records Coordinator Credit/Scholarship Administrator

2. PRESENTATION OVERVIEW 1. Real Cost of Study Abroad 2. Timeline 3. Loans 4. Scholarships 5. Navigating OSFS 6. Questions

3. COMMON TERMS BUDGET The cost of the abroad program as determined by the study abroad coordinator; who submits it to OSFS on an agreed upon timeline. EFAN : Electronic Financial Aid Notification An email from OSFS that guides the student to go online and claim an award package. AWARD PACKAGE Sum of the monies offered to the student; comprised of grants and loans. DISBURSEMENT The date in which the monies will be deposited into your bank account. Monies can only go to you or UT.

4. The real cost of study abroad is the difference between studying in Austin and studying in a foreign location. AUSTINABROAD Tuition$5369$4673 Room & Board$5681$7000 Transportation$735$1875 Personal$1388$1499 Books$375$150 Total:$13,548$15,197 REAL COST OF STUDY ABROAD Understanding Costs Austin$13,548 Foreign$15,197 Real Cost$1,649

5. BUDGET SAMPLES Program Name:IES: PARIS Sponsor:IES - a UT Affiliate Session:Spring Application Code:220010 Application Fee:$ 50 Affiliated Studies Fee:$ 400 Program Fee:$ 14510 Books and Materials:$ 200 Food:$ 2250 Housing:$ 4080 Airfare:$ 1000 Local Transportation:$ 350 Personal Items:$ 2050 Medical Insurance:$ 513 Passport:$ 135 Visa:$ 140 Emergency Funds:$ 500 Total:$ 26,178 Program Name:UNIVERSIDAD PONTIFICAL COMILLAS Sponsor:UT Austin - a University-wide Exchange Session:Fall Application Code:90082 Application Fee:$ 50 Tuition:$ 4673 Books and Materials:$ 150 Food:$ 3000 Housing:$ 4000 Airfare:$ 1500 Local Transportation:$ 375 Personal Items:$ 850 Medical Insurance:$ 304 Passport:$ 135 Visa:$ 160 Total:$ 15, 197

6. Original Award Austin Adjusted Award Exchange Adjusted Award Affiliate Federal Pell Grant$2822 Texas Public Education Grant$1334 Partial Tuition Grant$644 $0 University Tuition Grant$1500 $0 Federal Perkins Loan$2000 Federal Work Study$1600$0 Federal Direct Subsidized Loan$2750 Federal Direct Unsubsidized Loan $898$2000 Federal Direct Parent Loan or Private Alternative Loan $2,147$15,272 Award Total$13,548$15,197$26,178

7. TIMELINE SA PC Submits to OSFS Budget Student registers for SAB or AS courses Registration Check requirements; Flight variable Plane Ticket / Visa Paid directly to affiliate, n/a for exchange Deposit Email sent / student claims in CASH EFAN Deferment form, for AS only Program Fee Student pays online (tuition or $400 fee) Fee bill Pay provider / Cost of living In Country Funds into bank account automatically Disbursement April June July September Notes:  You won’t have your aid to buy your plane ticket or visa  Registration must be correct or you wont get an revised EFAN  Fee bill to UT must be paid (most likely deferment option)  Affiliated Studies fee ($600) must be paid (cash, check or credit)

8. 1.Direct Subsidized and Unsubsidized Loans 2.Direct Parent PLUS Loan 3.Private / Alternative Loans 4.Tuition Loans 5.Emergency Cash Loans LOANS – 5 TYPES http://world.utexas.edu/abroad/funding/loans Co-Signer Required

9. ScholarshipDeadlineAverage Award Amount Notification / Distribution Engineering Semester Exchange April 4VariesLate spring IEFSMarch 1$1500Early April SCHOLARSHIPS Scholarships can be used to off set loans or to make up for a deficit in an award package. Other Ideas:  Save  Work over holiday break or before departure  Micro lending – Fund My Trip or Fund My Travel.com  Birthday & Christmas http://utdirect.utexas.edu/student/abroad/globalassist.WBX

10. NAVIGATING OSFS https://utdirect.utexas.edu/faweb/cash/utdirect.utexas.edu/faweb/cash 1.Know what you currently get 2.Compare current award to cost of your program 3.Prepared to have a co-signer 4.Log into CASH weekly and click on 5.Read your EMAIL 6.If you have questions before departure go in person or read FAQ 7.After departure direct concerns to your SA Program Coordinator

12. NEXT STEPS – CHECKLIST  Determine your real cost  Register (April 20– May 1)  AS students complete deferment form for provider  Claim revised EFAN  Plan for a co-signer  AS pay $400 fee to UT (by August 12)  EXCH defer tuition bill (by August 12)  Plan for travel money (pocket cash for first two weeks)

13. QUESTIONS