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Paying for
Education Abroad
Please read the
Money
Matters
section for students, detailing budgeting,
scholarships, financial aid, and fundraising.
Virginia Tech has some of the most
economical study abroad programs out there!
If the cost of education abroad is deterring you from sending
your son or daughter, please remember that the level of personal
growth gained during study abroad is invaluable. Your son or
daughter will be a more attractive job candidate after study
abroad, meaning future financial benefits. Encourage your son or
daughter to go on a semester or year program which usually works
out to cost far less per day than a summer program and offers
more time for personal development. Have your student take the
necessary courses while abroad or take VT summer courses before
departing so as not to have to pay for an extra semester upon
return.
Various programs
to the same school abroad may have very different bottom line
costs. Check carefully to see what each
program factors into its quoted price.
Bilateral and ISEP programs are cheapest for in-state students,
because the student continues to pay tuition and fees at
Virginia Tech rates. Non-VT and VT Direct programs usually cost
less than what an out-of-state student pays to attend Virginia
Tech for a semester because Tech tuition is not included in the
program cost.
Plan a study
abroad budget with your son or daughter. Do not plan on the
student finding work in the host country. Visa restrictions,
language barriers, and low employment rates may make this
difficult. If the student will require spending money that he or
she cannot earn before departure, consider a loan for personal
expenses. Be sure that he or she has access to an emergency fund
(minimum $250).
Encourage your
son or daughter to meet with a financial aid counselor to learn
more about what types of aid or assistance he or she may qualify
for and to learn exactly how the financial aid process applies
to education abroad programs. If your student does not receive aid currently,
he or she may qualify for it during the term abroad. The
FAFSA
must be on file in order for him or her to be considered for any
type of aid. Fill it out even if he or she is unsure at this
point, because it can only help the process in the long run.
Financial aid is
not released until the student is abroad.
This guarantees
financial aid providers that the student is attending a host
institution as a student. If your son or daughter is on financial aid of any type,
encourage him or her to talk to the
Financial Aid Office about
a preliminary loan which will reduce up front costs before the
aid is released.
Office of
Scholarships and Financial Aid
www.finaid.vt.edu
Phone:
(540)-231-5179
Fax: (540) 231-9139
finaid@vt.edu
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