Generally, for your financial aid to be "portable" to a study abroad program, you must carry a full-time load at the foreign institution and receive credit for the program toward your degree at your home institution. There may be other eligibility restrictions, depending on the financial aid program, but usually you will be able to take your Title IV funding (Pell, Stafford and PLUS) overseas with you.

Your home institution may require an agreement in order for you to use your financial aid. The first step should be checking with your study abroad advisors and financial aid administrators or bursar's office to confirm what will apply to the ISA program.

Be sure to look at the financial aid information found in the Helpful Resources section of our website.

Click here to view additional financial aid resources

Federal student aid is financial help, usually covering school expenses including tuition and fees, room and board, books and supplies, and transportation. Most federal aid is need-based. The most common types of aid are scholarships or grants and loans.

Education loans come in three major categories: student loans, parent loans and private (or alternative) loans.

The Perkins Loan is awarded to undergraduate and graduate students with exceptional financial need. This is a campus-based loan program, with the school acting as the lender using a limited pool of funds provided by the federal government.

All Stafford Loans are either subsidized or unsubsidized. To receive a subsidized Stafford Loan, you must be able to demonstrate financial need. You may be borrowing this loan from a bank, a credit union, other eligible lenders, or directly from the government.

Federal PLUS Loans are available to parents of dependent students under the Federal Direct Loan Program and the Federal Family Education Loan Program (FFELP). These loans are made either by the school (direct loan) or through a private lender.

Grants and Scholarships are financial aid that does not have to be repaid. Numerous private organizations and government agencies offer grants to students in all fields. Federal Pell Grants are awarded to exceptionally needy undergraduate students.

Some colleges/universities offer scholarships which may be either need or merit-based. Please check with your study abroad advisors and financial aid administrators to inquire about availability.

ISA awards $60,000 in scholarships each year to students who are participating in ISA programs. Please see the scholarship section of the ISA website for more information.

Click here to view ISA Scholarship details.

ISA offers Repeat Student Grants to students who have previously participated in an ISA program, regardless of the length of time (if any) that passes between the two programs. Please see the scholarship section of the ISA website for more information.

Click here to view ISA Scholarship details.

(Note: These are general instructions. Please check with your financial aid office, as each U.S. Institution is different!)

The following is a preliminary checklist of items that you must complete:

• Inform your university study abroad office and financial aid administrator of your plans to use financial aid to pay for an ISA study-abroad program.
• Please let your financial aid officer know that Susan Farley is the person to contact at ISA if your university has any questions regarding financial aid, or if they have a "Consortium/Contractual Agreement" that needs to be completed.
• Give your financial aid administrator the ISA "Verification of Award" (VOA), which will accompany your acceptance packet if you note on your application that you intend to use financial aid.
• Ask your financial aid administrator to complete the VOA form and return it to ISA.
• Let your financial aid administrator know about the payment deadlines of the ISA program that you have chosen. Remember that it is ultimately up to you to ensure that ISA receives one of the following by the payment due date:

In this case you will make full payment for the program, for which you may be reimbursed by your financial aid when it is released. Many students will take out a personal loan at their bank or ask their parents for the money. Keep in mind that you can pay back your parents, or the bank, as soon as you receive your financial aid.

In this situation, the VOA form from your university will state the amount you will be receiving (funds equal to or in excess of your balance due) and that the payment will be sent directly to ISA. If funds to ISA are less than the balance due, the student owes the difference by the payment due date.

In this situation, the VOA form from your university will state the amount you will be receiving and that the payment will be sent directly to student. You may send ISA a check, postdated for one week after your funds are to be released. Please staple the check to a sheet of paper and clearly write "Please hold for Financial Aid". The postdated check should be for the amount you will be receiving for financial aid, and the remainder of your balance should be sent in a separate check to be deposited immediately by ISA. HOWEVER, if your aid WILL cover the full balance, please send through a "Good Faith Payment" to ISA in the amount of $500 for summer, $1000 for semester, $1500 for year programs, or $2000 for Multi-Country programs. This "Good Faith Payment" will be deposited upon receipt by ISA, and the amount can then be subtracted from your postdated check payment. (This will show us that you are planning on participating and allow us to begin making program arrangements on your behalf.)