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Requirements to Receive Financial Aid
There are many steps that are required in order for you to
receive your financial aid. You must complete your
Financial Aid
Notification
and Lender Selection Authorization (if borrowing Stafford
loans). Students are also strongly encouraged to designate a bank into which
your financial aid funds will be deposited. Furthermore, if you are borrowing
student loans or parent loans, it is your responsibility to ensure that all the
appropriate
promissory notes
have been completed and received by the lender. First time
student loan borrowers are required to complete
student loan
counseling.
You will need to indicate in the
Study
Abroad Portal that you will be applying for summer financial aid
(by completing the Financial Aid Counseling Module), and you will need to submit the
FAFSA application
by the
priority deadline
to request summer financial aid. You are required to inform the
OSFS and your Study Abroad Advisor
(in CIBER) if you are receiving any additional resources
including tuition exemptions, tuition credits, scholarships, and/or any
financial support. You are also expected to enroll in a full-time course load.
In the summer, students must enroll in at least six credit hours. The
CIBER-sponsored study abroad programs are six credit
hours. BBA Global Business Program participants (McCombs students) only receive
three UT-Austin credit hours. It is your
responsibility to ensure that you meet the credit hour requirements to receive
financial aid, that any financial/non-financial bars are cleared, and
that all of your addresses (state-side contact, permanent, and email) are
current.
Release of Financial Aid
Summer financial aid disbursement will be delayed for
participants in the CIBER Summer Study Abroad Programs. The Office of Student
Financial Services (OSFS) is able to release your summer financial aid in mid to late
June. IMPORTANT NOTE: if you are participating in the
Business Law Program in Edinburgh, the OSFS is able to release your summer
financial aid in mid to late July. Financial aid award funds CANNOT BE RELEASED AT AN EARLIER DATE to pay
required deposits, payments, airline tickets, etc. Students should not expect
that their financial aid funds will be disbursed prior to the start of their
study abroad program. Please be sure to make other arrangements for paying these
costs from other resources.
IMPORTANT: All CIBER program fees are due in total by May 21, 2009 and you
should make arrangements to be able to make this payment. Most CIBER Summer
Study Abroad programs begin in early June, which means you should make
arrangements to have your financial aid deposited into your bank account, via a
direct deposit request. You can make those arrangements via
UT Direct.
Withdrawal and
Cancellation of Study Abroad
In the event that your study abroad program is cancelled
or you decide to
withdraw,
Federal Regulations require that the OSFS perform a calculation to determine the
amount of aid that you are eligible to receive. You will be required to repay
all or part of financial aid funds that were released to you or that were
received by the University on your behalf. It is imperative that you contact
your Study Abroad Advisor
(in CIBER) before withdrawing from or canceling your study
abroad participation.
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