This page outlines the financial aid process for University of Minnesota Twin Cities and Rochester students. Students from other institutions should contact their home institution's study abroad and financial aid offices for information on the process for accessing financial aid while abroad.
Before You Apply for Your Program
Step 1: FAFSA
Submit an application for Federal Student Financial Aid (FAFSA) as early as possible. Visit One Stop for application and timeline information. There is no fee to apply. Complete the FAFSA as if you were planning to study on campus at the University of Minnesota. Allow at least one week for the data to be received by the Office of Student Finance.
Step 2: Schedule a Financial Aid Preview Meeting
If you plan to use financial aid (loans, grants, and some scholarships) to pay for your study abroad expenses, schedule a study abroad financial aid preview meeting before you pay any non-refundable deposits or fees. You should schedule this meeting before confirming your place on a program and ideally before you have applied for a program. This meeting allows you to explore your options before you commit financially. At the meeting, the adviser can answer questions about accessing financial aid for study abroad.
During the preview meeting, the financial aid counselor can also discuss your eligibility for the Bridging Loan program, a no-interest no-fees program designed to assist you if you do not immediately have the funds available to cover the $400 program deposit and flight booking costs. It enables you to pay for these costs with your financial aid package before your aid award disburses.
Financial Aid Preview Process
- Be sure you have a current FAFSA on file.
- Obtain an unofficial cost of participation (budget estimate) for your program from the Learning Abroad Center or your program provider. Consider all costs such as airfare, additional meals, textbooks, travel to obtain student visas, and insurance. Use the budget worksheet (accessible via our Comparing Costs page) to help ensure you are including all eligible costs and to make these comparisons easier.
- Schedule a Financial Aid Preview Meeting for study abroad. You will meet a financial aid counselor (not with a Learning Abroad Center adviser) via Zoom. We encourage you to invite any family member who is involved in your college funding decisions to this meeting.
- Be prepared to share the link to your Cost of Participation for your program(s) prior to or during the meeting. If you are considering multiple programs or different terms, prepare estimates or budget worksheets for each program or scenario.
Graduate Students
The financial aid preview process and scheduling link above is for undergraduate students only. Graduate students should email [email protected] (with "ATTN: Graduate Unit" in the email subject line) to schedule an appointment to discuss your financial eligibility.
After You Are Confirmed On Your Program
- The Office of Student Finance (OSF) will automatically review your financial aid award and make any necessary adjustments based on the estimated cost of participation posted on the LAC website once the following are true*:
- your application status changes to “confirmed” in the LAC portal
- your program fees are available
- your housing option has been selected
- You will receive notification once your aid package has been adjusted.
- If your costs differ from the published fees on the LAC or affiliate program's website, contact OSF at [email protected] and be prepared to submit documentation for why your costs deviate from the costs posted on our website (flight receipts, verification of enrollment in coursework incurring additional fees, etc.)
*If you are participating on an affiliate program (CET, IES, ISEP, IFSA, SFS, SIT), OSF will calculate your program fee according to the formula for affiliate program fees using the lowest cost housing option (standard program housing) and no supplemental course fees. Use the budget worksheet on our Comparing Costs page to calculate the comprehensive costs for your study abroad experience, which includes costs that are billed to your UofM student account (per the formula link above) and the additional non-billed expenses such as airfare, meals, course materials, etc.
Timeline
| Term Abroad | When OSF begins to adjust aid |
|---|---|
| Fall Semester, Academic Year, and Winter Break (including programs with Fall or Spring on-campus courses that go abroad over Winter Break) | Mid-July |
| Spring Semester and Calendar Year | Late October |
| Spring Break | Mid-January |
| May Session (including programs with a Spring on-campus course that go abroad over May session) and Summer | Early May |
Program Cancellation Policy
Program cancellation after you have confirmed your participation on a program will have implications financially, and may also affect the financial aid you've been awarded to study abroad. Read the cancellation policy prior to making any decisions to withdraw from your program. Your financial aid will not cover cancellation fees or non-recoverable costs. Failing grades or 'W's on your transcript may affect your future financial aid eligibility, in the same way it would for coursework taken on campus. Read and familiarize yourself with the Satisfactory Academic Progress Policy for financial aid recipients.