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Financial aid Orientation. Summer 2014 – Affiliated & exchange. Heather Thompson Assistant Director, Study Abroad Liaison to UT Office of Student Financial Services. Presentation Overview. Program Costs Timeline Scholarships Loans Navigating OSFS Questions. Common terms.

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Financial aid orientation

Financial aid Orientation

Summer 2014 – Affiliated & exchange

Heather Thompson

Assistant Director, Study Abroad

Liaison to UT Office of Student Financial Services


Presentation overview
Presentation Overview

  • Program Costs

  • Timeline

  • Scholarships

  • Loans

  • Navigating OSFS

  • Questions


Common terms
Common terms

BUDGET

The cost of the abroad program as determined by the study abroad coordinator; who submits it to OSFS on an agreed upon timeline.

EFAN: Electronic Financial Aid Notification

An email from OSFS that guides the student to go online and claim an award package.

AWARD PACKAGE

Sum of the monies offered to the student; comprised of grants and loans.

DISBURSEMENT

The date in which the monies will be deposited into your bank account.



Real cost of study abroad
Real Cost of Study Abroad

  • The real cost of study abroad is the difference between studying in Austin and studying in a foreign location.



Scholarships
Scholarships

http://utdirect.utexas.edu/student/abroad/globalassist.WBX

  • Other Ideas:

  • Save

  • Work over spring break or before departure

  • Micro lending – Fund My Trip or Fund My Travel.com

  • Birthday

Scholarships can be used to off-set loans or to make up for a deficit in an award package.


Timeline
Timeline

February

March

April

May

June

  • Notes:

  • Registration must be correct - it is your responsibility

  • Fee bill to UT must be confirmed ($400 pay) (Tuition defer)

  • Deposits & Program Fee must be paid (most likely deferment option)


Loans 5 types
Loans – 5 Types

  • Direct Subsidized and Unsubsidized Loans

  • Direct Parent PLUS Loan

  • Private / Alternative Loans

  • Tuition Loans

  • Emergency Cash Loans

Co-Signer Required

http://world.utexas.edu/abroad/funding/loans


Navigating osfs
Navigating OSFS

https://utdirect.utexas.edu/faweb/cash/

Know what you currently get

Compare current award to cost of your program

Prepared to have a co-signer

Log into CASH weekly and click on

Read your EMAIL

If you have questions before departure go in person or read FAQ

After departure direct concerns to your SA Program Coordinator


Next steps checklist
Next steps – Checklist

  • Complete MySAO forms & attend Orientation Meetings

  • Purchase plane ticket and visa as instructed

  • Plan for co-signer

  • Pay your deposit, if applicable

  • Registration for summer courses in April

  • Complete Affiliate deferment form

  • Claim revised EFAN (late April, early May)

  • Confirm Tuition bill by May 15



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