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Financing your trip

Amendments made in 1992 to the Higher Education Act of 1965 ruled that students can receive financial aid for study abroad if they are enrolled in a program that is approved by their home institution and would be eligible to receive government funding without regard to whether the study abroad program is required as a part of the student’s degree. Federal law also states that financial aid can cover all "reasonable" costs for a study abroad program, including:
  • Round-trip transportation
  • Tuition and fees for the program
  • Living costs
  • Passport & Visa Fees
  • Health insurance

You will need to speak to your home institution’s Study Abroad or Financial Aid Office to determine if Global Players is or could become an approved program and what financial aid is allowed for study abroad.

Eligibility

To obtain government aid, students must complete the Federal Application for Student Aid (FAFSA). Funds are awarded by the US Department of Education. As long as your home institution pre-approves the credit you may earn abroad, you can use federal aid toward your study abroad program.

Other requirements:

  • Be enrolled in an eligible (Title IV) Institution as a regular student seeking a degree or certificate – This is your Home Institution, not CEA or the Overseas Institution.
  • Be a citizen of the United States with a valid Social Security Card
  • Have a high school diploma or a General Education Development (GED) certificate
  • If you are a male, you must be registered for SELECTIVE SERVICE
  • Have a result of Eligible or Partially Eligible on Question 23 (Drug related conviction) of the Free Application for Federal Student Aid (FAFSA).

How to Apply

  1. Fill out the FAFSA (Free Application for Federal Student Aid) – Use your Home Institution’s Title IV Code, as Global Players is not a Title IV Institution.
  2. Speak to your Home Institution’s Study Abroad Office and Financial Aid Office to be certain that your Aid will transfer to Global Players.
  3. Obtain a Consortium Agreement from the Study Abroad Office or Financial Aid Office at your Home Institution, fill out the student portion and fax/mail the form to Global Players for completion
  4. If requested, Global Players can send your financial aid office a “sample budget” for your study abroad program so you can review the budget with your financial aid office to help determine the disbursement amount.
  5. After your final financial aid award has been determined by your school, they will send you a summary, or an "Award Letter". You will need to accept or deny the funding and fill out all appropriate loan applications. This documentation will need to be turned in to your Home Institution's Financial Aid Office. You will need to follow their instructions and make sure that they have all of the documentation they need to process your aid smoothly and in a timely manner.
  6. Have the Financial Aid Office at your Home Institution complete the Financial Aid Disbursement Form indicating the amount of Financial Aid you will be receiving, when they will be disbursing the funds, and who they will be disbursing them to. Once Global Players receives this form from your FA Office we will defer the final payment due date for your FA funds to the disbursement date that your Home Institution has provided.

Forms of Government Aid

Government aid can come in the form of grants or loans.

Stafford Loan (FFEL loan)

A Stafford loan is also known as a Federal Family Education Loan or a Direct Loan and is the Department of Education’s major source of self-help aid.

  • Students must fill out FAFSA
  • The loan is awarded by the Federal Government and based on need.
  • There are two forms of Stafford Loans. Subsidized Stafford Loans do not accrue interest while you are enrolled full time at an eligible, Title IV institution; the interest is subsidized by the Federal Government. Unsubsidized Stafford Loans are not subsidized by the Federal Government and interest does accrue while you are in school.
  • Stafford loans have lower interest rates than regular, non-student loans.
  • Repayment does not begin until 6 months after the student graduates or stops attending.


Parent Loan (PLUS loan)

A Parent loan is most commonly referred to as a PLUS loan and is provided by the Department of Education as a way for parents or legal guardians to supplement the government funding that their children receive.

  • Student must fill out FAFSA.
  • This loan is awarded by the Federal Government and based on need.
  • The loan approval and amount is based on the parent's credit report.
  • Repayment begins immediately on PLUS loans, there is not grace period unless your parent is a degree-seeking student.

Perkins Loan

A Federal Perkins loan is a loan for both undergraduate and graduate students. This is a need based loan used to supplement what a Stafford loan cannot cover. The program is in conjunction with your Home Institution and the Federal Government.

  • Student must fill out FAFSA.
  • This loan is awarded based on need.
  • The Perkins loan is a low-interest loan, with a longer grace period then Stafford loans, these loans are forgivable if a student goes into certain professions.
  • This loan is disbursed by the Home Institution to the student.
  • The loan will be paid back to the Home Institution.


PELL Grant

A Federal Pell Grant is a need based grant offered by the Federal Government.

  • Student must fill out a FAFSA.
  • They are awarded by the Federal Government and based on yearly income.
  • The grant does not need to be repaid.
  • Students who get this grant are able to apply for the Benjamin Gillman Scholarship.

Explore these alternative funding resources to assist with making your study abroad dream a reality.

 

Financial Aid & Resource Sites

Scholarship Searches

  • www.internationalscholarships.com - Scholarship Search for Study Abroad students.
  • www.fastweb.com - Scholarship Search for students.
  • www.brokescholar.com - Broke Scholar is a free, membership based, scholarship search site. It is the home of 650,000 scholarships.
  • http://www.nextstudent.com - The NextStudent Scholarship Search Engine lists over 5.9 million individually awarded scholarships worth over $16 billion. It's updated daily, free of charge, advertisement-free and completely confidential.

General Study Abroad Scholarships

  • http://www.borenawards.org/ - Boren Awards for International Study provides scholarships and fellowships for undergraduate students to study in world regions critical to US interests.
  • http://www.rotary.org/foundation/educational/amb_scho/index.html - The Rotary Foundation sponsors the Ambassadorial Scholarships program which is currently the world's largest privately funded international scholarships program.
  • http://www.woodrow.org/fellowships/foreign_affairs/pickering_undergrad/index.php - The Thomas R. Pickering Foreign Affairs Scholarship is administered by the Woodrow Wilson National Fellowship Foundation and is awarded to students pursuing a career in Foreign Service.
  • www.iie.org/gilman - Benjamin Gilman Scholarship (requires Pell Grant).
  • http://www.clascholars.org/ - The College Language Association sponsors this scholarship program for students at CLA member institutions who wish to study abroad.
  • http://www.olmstedfoundation.org/olmsted/web/index.cfm?view=undergraduateProgram/vwMain - Each year, the Olmsted Scholar Program offers educational grants for two years of graduate study in a foreign language and other educational experiences in a foreign country to competitively selected career line officers from the four branches of the U.S. military.
  • http://www.merlewestscholarship.com/scholar.html - The West Scholarship Fund provides as much help as possible to the largest number of eligible and deserving students from Klamath County, Oregon. The fund is managed and administered by the U.S. Bank Charitable Services Group.
  • www.jkcf.org - The Jack Kent Cooke Scholarships are applicable for Study Abroad in any country.
  • www.cjsfoundation.org - The Corinne Jeannine Schillings Foundation awards scholarships to those who have attained the Silver Award Girl Scout and plan to study abroad.
  • www.gmsp.org - The Gates Millennium Scholars (GMS) program was founded by a grant from Bill and Melinda Gates. It was established to provide an opportunity for African Americans, Native Americans, Asian Pacific Islander Americans and Hispanic Americans to complete an Undergraduate College education.
  • www.coca-colascholars.org - The Coca-Cola Scholars Foundation has awarded nearly $23 million to more than 2,750 deserving High School Seniors. Each year, the Foundation awards $20,000 to 50 National Scholars and $4,000 to 200 Regional Scholars from across the country.
  • www.theashleyfoundation.org - The Ashley Foundation scholarship is awarded in memory of Ashley Tamburri. It is a four-year, renewable tuition scholarship awarded to teens who have faced or are facing cancer to encourage them to strive to achieve their goals.

Canadian Students

 

Payment Plans

A GP Payment Plan is a great way for you to say "yes" to this experience and "no" to breaking the bank. Our payment plan is a viable option for students looking to fulfill their study abroad program expenses in a manner ideal for their financial situation. We understand the complexities that can arise from large financial commitments and as such, offer you our payment plan option to ensure both simplicity and flexibility when paying for your GP experience abroad.

Plan Parameters

  • Payments must be set for specific amounts and set on specific dates in regular increments – monthly, weekly, bi-weekly, etc. 
  • Plan includes all amounts paid out of pocket by students (financial aid and direct bill items considered separately)
  • Adjustments to a plan can be made as students accrue additional fees such as trip extensions, flights etc.
  • All payments must be paid in full no later than one week before the program start date
  • Students will incur late fees if they do not follow the deadlines and amounts previously agreed upon