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Study Abroad & Financial
Aid for Penn Sponsored Programs |
| Undergraduate Students |
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| To Apply |
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| 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. |
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| 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. |
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| 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 Federal
Work-Study (FWS). 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 FWS component will be limited to $500 per
semester, funds permitting. |
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| Payment
Options |
| You and your family may use the
payment
options for Penn-sponsored
study abroad programs just
as if you were on campus. |
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| 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. |
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| 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 contact the SFS Undergraduate
Financial Counseling department. Our staff will
review your student account and, if eligible, mail
your refund check to the address you provide on
the attached Study Abroad Information Form. You
may contact us by calling (215) 898-1988 or by
sending us an e-mail at sfsmail@sfs.upenn.edu. |
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| 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.
Note: If your Federal Stafford Loan is guaranteed
by PHEAA, and your lender offers Electronic Funds
Transfer your loan funds will be disbursed electronically.
If you receive an EFT disbursement, your loan funds
will be credited to your account automatically.
If you expect to receive a check and you are unable
to endorse your loan check in person at SFS prior
to your departure, you have the following options:
- You may request SFS to mail the check to you
for endorsement
- You may request your lender to disburse your
check directly to you, rather than to Penn. (If
you elect this option, bear in mind that the loan
will not be credited against your charges, nor
be considered in determining whether you are eligible
for an advance.)
- You may execute a power-of-attorney, to give
a family member or someone else the authority to
endorse the check on your behalf (this is particularly
useful if you expect to leave the country before
your check is available, whether it is mailed to
you or Penn). SFS will mail the check to the designated
individual when it is received.
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| Please indicate on the attached
form which option you expect to use. |
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