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Study Abroad Budget and Financial Aid
Estimated Student Expenses -
coming soon
Study Abroad Budget
The study abroad budget is determined by the
Study Abroad Office (SAO) and considers the many
educational and living expenses associated with your program. Students
participating in a study abroad program typically see adjustments made to their
budget related to the increased travel and living expenses and to account for
the various program fees.
Your personalized study abroad budget is delivered to the
Office of Student Financial Services
(OSFS) in mid-spring semester. A Financial Aid Counselor
will review your file and adjust your aid to accommodate for your study abroad
expenses. Assuming that you have filed for financial aid and submitted your
required documents, it will take approximately three weeks for an adjustment to
be made to your file.
Types of Financial Aid Offered
Depending on your eligibility for certain types of aid,
students will typically be awarded loans. Due to the higher costs associated
with study abroad, a student may be required to borrow through multiple loan
programs. In addition, you may be offered a parent loan or alternative loan to
cover your expenses. Please note that during the summer session, most financial
aid disbursed is through loans.
Special Note about
Alternative and Parent Loans:
Students who pursue an alternative loan (including the College Access Loan) or
who have parents who pursue a PLUS loan should notify their
Study Abroad Advisor
(in CIBER) immediately. Additionally, students whose
parents will either not qualify for nor do not wish to borrow a PLUS loan should
begin researching alternative loans as soon as possible. Alternative loans are
disbursed to The University of Texas at Austin either in the form of a paper
check or electronic funds transfer (EFT). For those funds that arrive via paper
check they cannot be directly deposited to your bank account. You or your
stateside contact will be notified by either e-mail or by postcard,
respectively, that your alternative loan has been processed and is ready to be
picked up. Once this notice is received, you must contact the
OSFS
and request that your check be mailed to your stateside contact.
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