1. FINANCIAL AID ORIENTATION SUMMER 2015 – AFFILIATED & EXCHANGE Heather Thompson Assistant Director, Study Abroad Liaison to UT Office of Student Financial Services Cierra Campbell Academic Records Coordinator Credit/Scholarship Administrator

2. PRESENTATION OVERVIEW 1. Program Costs 2. Timeline 3. Scholarships 4. Loans 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.

4. PROGRAM COSTS

5. The real cost of study abroad is the difference between studying in Austin and studying in a foreign location. AUSTINABROAD Tuition$3652 Room & Board$3339$3500 Transportation$490$1500 Personal$1945$1560 Books$188$200 Total:$9,614$10,412 REAL COST OF STUDY ABROAD Understanding Costs Ex: Copenhagen ( BBA ) Austin$9,614 Foreign$10,412 Real Cost$798 Understanding Costs Ex: Barcelona ( COLA ) Austin$8,729 Foreign$12,811 Real Cost$4,082

6. Original Award For Austin Adjusted Award Abroad University Tuition Grant$1387 Federal Work Study$800$0 Federal Direct Subsidized Loan$2700 Federal Direct Unsubsidized Loan$2822 Federal Direct Parent Loan or Private Alternative Loan $3503 Award Total$9,614$10,412 The only way to reduce loans is with savings or scholarships: Scholarship – IEFS$1500 Scholarship - Departmental$2000

7. ScholarshipDeadlineAverage Award Amount Notification / Distribution COLA Lib. Arts. C.March 16, 2014$500 - $2000Late March EUS MajorsMarch 1, 2014VariesMarch/April JTS BBAMarch 1, 2014$1000March/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 spring break or before departure  Micro lending – Fund My Trip or Fund My Travel.com  Birthday http://utdirect.utexas.edu/student/abroad/globalassist.WBX

8. TIMELINE If applicable, upon acceptance Deposit As directed by your Program Coordinator Plane Ticket / Visa SA Program Coordinator Submits to OSFS Budget Student registers for summer course(s) Registration May 1 via MySAO Portal Forms Due Only for affiliated, see affiliate website Program Fee Email sent / student claims in CASH EFAN Student pays online by May 15 by 5pm Fee bill Approx. Austin’s first class day June 5 Disbursement February April May Notes:  Registration must be correct - it is your responsibility  Fee bill to UT must be confirmed ($400 pay) (Tuition defer)  Deposits & Program Fee must be paid (most likely deferment option) June March

9. 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

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  Complete MySAO forms & attend Orientation Meetings  Purchase plane ticket and visa as instructed  Plan for co-signer  Pay your deposit, if applicable  Registration for summer courses in April  Complete Affiliate deferment form  Claim revised EFAN (late April, early May)  Confirm Tuition bill by May 15

13. QUESTIONS