Q: Is financial aid available for IUNW students interested in study abroad?
A: Yes! The financial aid awarded to students to study at IUNW can be used to study abroad with just a few exceptions. If you received a private scholarship, check with your donor to see if you can use it to study abroad.
Q: How many credit hours must I take to receive aid?
A: You must be enrolled in at least 6 credit hours as an undergraduate student.
Q: How do I register for 6 credit hours if that's required for financial aid eligibility?
A: If your study abroad program is for 3 credit hours, you may add another class with 3 credit hours to reach the minimum of 6. The 6 credit hour minimum for financial aid eligibility can be a combination of 3 credits for SA and 3 credit hours in summer 1 or 2; as long as the total is 6 credit hours or more.
Q: How do I know how much financial aid I will receive if I study abroad?
A: Each student’s financial aid situation is different. A student is packaged for the fall and spring semester to their maximum eligibility based on credit hours enrolled. The financial aid you will have available for summer is based on how much grant and or loan eligibility you have available.
Q: How do I get money to pay for deposits, plane tickets, and other expenses?
A: Typically, students have to cover any up-front costs out of pocket. However, students that have remaining loan eligibility left during spring semester may borrow the money now and use it towards study abroad expenses. This is a good option if there is enough remaining loan eligibility to cover the cost of the study abroad program. You then wouldn't have to take another course over the summer to get to the 6 credit hour minimum.
Q: Can I borrow from future aid to pay for the SA program?
A: No, you can only use current years aid to cover current years educational cost.
1) $500 Scholarship
2) Direct Plus Loan
3) Perkins Loan
4) Alternative (private) Loans