Study Abroad & Financial
Aid for Penn Sponsored Programs |
| Undergraduate Students |
| |
| To Apply |
| |
|
| |
| Policy |
| A study abroad program is Penn
Sponsored if administered by Penn's Office
of International Programs with charges billed through
your student account. In compliance with University
policy, a student will receive Penn credit only
if they participate in an approved Penn sponsored
study abroad program. The charges for participation
in a semester or year long study abroad program
are equivalent to on-campus tuition and general
fee charges. The cost of meals, housing, study
materials, and personal expenses is additional,
just as it is on campus. |
| |
| Budget |
| Your financial aid award will
be based on the program’s budget, using the
estimates established by International Programs.
If the budget is higher than the on-campus budget,
the difference will be met with additional aid that
may include a loan; if lower, your aid will be reduced
beginning with Penn Grant. In either case, your family
contribution remains the same. |
| |
| Financial Aid Eligibility |
| As a Penn-sponsored study abroad
participant, you will be eligible for financial aid
as if you were on campus, with the exception of Work-Study.
The normal FWS component of your aid package will
be covered with other forms of assistance. If you
are eligible to receive Penn grant on campus, the
increase in your student loan requirement toward
covering your Work-Study component will be limited
to $500 per semester, funds permitting. |
| |
| Payment
Options |
| You and your family may use financing
and/or payment options
for
Penn-sponsored study abroad programs, just
as if you were on campus. |
| |
| Billing |
| For most programs, only tuition
and fees will be billed via your Penn student account.
For certain programs, non-tuition charges, in addition
to tuition and fees will be billed through your Penn
student account. The Office
of International Programs provides cost estimates for each program. These estimates
indicate the total budget for the program and the
amount you will be billed on your Penn student account. |
| |
| Refunds |
If your financial aid exceeds
your charges (and any past-due balance), you are
entitled to a refund to cover expenses not billed
to your Penn account.
If you will be leaving the country prior to the
time when your actual financial aid is credited,
SFS will advance funds to you upon request, based
on pending aid. Aid is considered pending if all
application requirements have been completed (e.g.
to receive an advance from a pending Stafford Loan,
a Master Promissory Note must be on file). If for
any reason the pending aid is not eventually disbursed
to your account, you will be responsible for repaying
the advance.
If you think you are eligible
for a refund, please email the SFS Undergraduate
Financial Counseling department at sfsmail@sfs.upenn.edu. |
| |
| Stafford Loans |
| |
| Obtaining the Stafford Loan check endorsement required
in order to credit the loan to the student account
poses special challenges for students in study-abroad
programs. By federal regulations, Penn is not permitted
to refund Stafford Loan proceeds prior to 10 days before
the beginning of the term. |
| |
| If you are expecting a credit
refund while they are participating in a Study Abroad
program, SFS strongly advises use of our Direct Deposit
option. Transfer of actual credit refunds to your bank
account allows you easier and quicker access to your
refunds. Many foreign locations have Money Access Machines
with favorable exchange rates. |
| |
| |
