Financial Aid may be available for students who are planning to participate in a Study Abroad program sponsored by Stephen F. Austin State University. If you are planning to apply for financial aid for one of these programs, you should set up an appointment with a financial aid counselor as soon as possible. A special request must be made in order to determine whether or not you qualify to receive funds for these programs.
Please contact the Office of International Programs to find out more information on potential funding programs available through SFA.
Funding your Trip Abroad
To receive financial aid for a study abroad trip, you must complete the correct year FAFSA application found online at www.fafsa.ed.gov.
You may be required to submit additional documentation to the financial aid office to be awarded financial aid. You will receive a budget for your enrolled courses at SFASU. Allowable expenses may include application fees, increased travel and living expenses, and various program fees. A Financial Aid Counselor reviews your file and adjusts your aid to accommodate for your projected expenses. It will take approximately 7-10 business days for an adjustment to be made to your file once we receive the FAFSA.
Types of Aid Offered
Eligibility for certain types of aid may change depending on your program.
For affiliated programs with no enrollment in institutional credit hours, state and institutional aid will be canceled.
Students typically can expect an increase in loans awarded. Due to the higher costs associated with Study Abroad, a student may be required to borrow through multiple loan programs, including credit based programs such as the Federal PLUS Loan or private loans to cover expenses.
Special note about Private Loans: Students whose parents will either not qualify for or do not wish to borrow a PLUS loan should begin researching private loans as soon as possible. Reminder: Private loans do require a credit application be completed with the lender you select.
Requirements to Receive your Aid
There are many steps that are required in order for you to receive your financial aid on time.
You must complete your Financial Aid Notification. Students are strongly encouraged to establish a bank account and set up direct deposit so funds can be deposited.
Federal and private loan borrowers are responsible for ensuring all appropriate promissory notes, application and credit checks, and counseling have been completed and received by the lender.
Inform the Financial Aid Office if you are receiving any additional resources including tuition exemptions, tuition credits, and scholarships.
It is your responsibility to ensure that all financial and non-financial bars are cleared and that all of your address information (state-side contact, permanent, and e-mail) are up to date.
Release of Financial Aid
Financial Aid Funds are usually released by the first week of scheduled classes based on SFASU’s Academic calendar once all requirements are met. Funds are first applied to current semester University debt, such as tuition and fees, with any remaining aid being released to the student. Funds are directly deposited into the bank account designated by the student, if you have designated a direct deposit account. Otherwise, a check will be forwarded to the address on your University record. Be sure to update your address with the University while abroad to reflect your state-side contact’s address. Regulations governing student financial aid programs prohibit the disbursement or release of actual financial aid funds more than 10 days before the official beginning date of the University’s school term (first day of classes). Financial aid funds CANNOT BE RELEASED AT AN EARLIER DATE to pay required deposits, partial payments, etc., for your Study Abroad program.
Withdrawal and Cancellation of Study Abroad
In the event that your registration is cancelled or you withdraw, Federal Regulations require a calculation be made to determine the amount of aid you are eligible to keep and the amount of aid which must be returned immediately. You will be required to repay any and all financial aid funds that were released to you or that were paid to university debt on your behalf. It is imperative that you contact your Financial Aid Counselor before cancelling or withdrawing from your Study Abroad program.