Financial aid (loans, grants, and scholarships) is applicable to study, service-learning, and intern abroad experiences awarding academic credit. For additional information, review the Learning Abroad Center's FAQ on financial aid for study abroad. Work, intern, volunteer experiences which do not award credit are ineligible for financial aid.

Financial Aid Eligibility and Limits

Semester/Year Financial Aid Considerations

  • Additional financial aid will likely be awarded in the form of loans
  • Financial aid award may not cover entire cost of study abroad experience

May/Summer Financial Aid Considerations

  • Minimum of six credits required to access financial aid
  • Only available to students who have not already used their financial aid during fall and/or spring semester
  • Terms of summer financial aid may be less favorable (e.g. higher interest rates, required co-signers, loans awarded instead of grants)
  • Financial aid award may not cover entire cost of study abroad experience

Review One Stop's Web Site for Study Abroad Financial Aid


This web site provides more details on aid eligibility and limits. You must be a current University of Minnesota student enrolled in a degree-seeking or eligible certificate program to be eligible for financial aid.

Verify Your Financial Aid Eligibility and Award

Schedule a Financial Aid Preview Meeting (see below) to find out how much aid you may access to fund your study abroad experience.

Steps to Using Financial Aid for Study Abroad

1. Complete a Free Application for Federal Student Aid (FAFSA)
Apply as early as possible. There is no fee to apply. Allow at least two weeks for processing.

2.  Arrange a Financial Aid Preview Meeting with the Office of Student Finance in Fraser Hall

This meeting allows you to plot out your options with a financial aid adviser before you commit financially to a program. Schedule this meeting before paying any non-refundable program deposits.

3. Obtain a Study Abroad Cost Estimate (SACE) from the Learning Abroad Center
The SACE is the official document used to modify your aid eligibility.  Request the SACE only after you have had your Financial Aid Preview Meeting.  You will need to have been accepted and confirmed (paid your deposit) to your program to obtain a SACE.

4. Submit your SACE to Your Financial Aid Adviser in Fraser Hall
By submitting your SACE to the Office of Student Finance, you are officially requesting an adjustment to your financial aid award. Most students who have already had a Financial Aid Preview Meeting can simply drop off the form. However, you or your financial aid adviser may request a follow-up appointment when submitting the SACE.

5.  Use the Registration and Financial Aid Checklist to track all the details.

Timing

  • You will need to complete the Financial Aid Preview Meeting and SACE process at least two months prior to departing on your program.
  • If you will be leaving the Twin Cities for the summer or for winter break, you must arrange your Financial Aid Preview Meeting and obtain your SACE prior to leaving the University.
  • If you have not been accepted by your study abroad program by three weeks prior to your departure from campus, contact a Learning Abroad Center adviser immediately to make arrangements to complete the SACE.

 

Impacts of Cancelling on Your Financial Aid

  • Read the cancellation policy prior to making any decisions to withdraw from your program.
  • Your financial aid will not cover cancellation fees or non-recoverable costs.
  • A "W" on your transcript may affect future financial aid eligibility.
 
Last modified on February 27, 2009