Study Abroad
High School Programs in France
Study Abroad Loans Can Get You There
Study abroad loans can help you hit the books across the ocean, in a new hemisphere, or in another language.
These study abroad college student loans are private student loans obtained from a bank or other lender that can help finance an international education, whether it’s for a summer, a semester, a year, or for the duration of a degree program.
Federal Student Loans to Study Abroad
In most cases federal student loans like the Stafford Loan, the Perkins Loan, and the PLUS Loan can be used to study abroad. If you’re unfamiliar with these and other types of student loans, you can get in depth information and compare them against other loans in the student loan section of Student Finance Domain.
- Typically federal student loans are transferable if your home school approves the study abroad program and you are enrolled at least half-time in a degree program.
- It’s important to note that federal loans can only be used to pay for expenses like tuition, room & board, and other fees directly related to your educational costs.
For more information about what your school’s policies are, talk to someone in your school’s college student financial aid department.
Private Student Loans to Study Abroad
Private study abroad loans are much more flexible than federal student loans:
- That’s because many times these private student loans available from banks and other lenders are disbursed directly to your or your co-signer and can be used to pay for your entire study abroad experience, unlike federal loans.
- They can pay for the incidental expenses that arise above and beyond tuition and room & board. This includes travel costs like student flights and rail tickets, and even fun and educational cultural excursions.
Getting a Study Abroad Student Loan
When it comes to study abroad student loans, the standard rules for obtaining a private student loan apply.
- Typically you must be enrolled at least half-time in a degree program and you can borrow up to the total cost of your studies, including room & board and other living expenses, plus the cost of the trip and incidentals.
- Your credit rating, or that of a cosigner if you have one, will affect the interest rate and other loan terms you are offered. Keep that in mind as you begin to formulate your study abroad plan.
- Before you apply for your study abroad loan, it’s imperative that you gain a full understanding of all of the expenses you’ll have while studying abroad. You might need to borrow more than you’d expect, but there are ways you can cut your international costs.
- Be sure you are using a good college student credit card, with minimal fees. You can also trim your international phone budget with an international calling card plan that best fits your situation.
- Many times study abroad loans are disbursed directly to students or their cosigners. If this happens to be the case with your loan, don’t fall into the trap many students do.
Although it may be tempting to buy a new HD television set or a hot new Parisian wardrobe with your big check, don’t do it. Use the money towards school expenses and your international trip, and you’ll have the time of your life without regret.
Study abroad sees applicants increase:Programs have remained popular, despite economy
England, Australia, New Zealand, Spain. With so many places to visit, how does a student choose where to study abroad?
The USC Study Abroad office not only helps you in your decision on where you want to study abroad, but the also guide you in deciding which program best fits.
“The study abroad advisors are here to help you in your choice and find out if study abroad is right for you. We encourage students to talk with us before starting the process,” said Elise Hammonds, the Assistant Director of the Study Abroad office.
The first step in the process is scheduling a meeting with a peer study abroad advisor. These are students who have studied abroad and they can give you insight into what is it really like.
The next step involves making an appointment with a study abroad advisor to talk about location, programs, financial, and classes.
“The second step is important because we help students narrow down where they actually want to go to three countries. We also tell them about the different programs options including the Global Exchange/Direct and the Global Partner programs. Students should talk over everything with mom and dad before making any kind of decision,” Hammonds said.
The Global Exchange/Direct program i sends students to different universities around the world, which can be found on the study abroad Web site. The great thing about the Global Exchange/Direct program is students in-state and out of state receive in-state tuition to USC while abroad.
The Global Partner programs are affiliate programs that offer students opportunities to study abroad at many more locations. These programs can also be found on the study abroad Web site.
“I studied through the Direct Exchange Program in Brisbane, Australia last spring. It was the best decision by far I have ever made. I had the best experiences and almost didn’t want to come back,” Liana Kloss, a second-year public relations student said.
After choosing a program and a location, students must complete an application. If you choose to use a Global Partner program, you need to fill out an application for them as well as for USC.
The application does vary depending on what program you choose. Make sure to stand out because some of the exchange programs are competitive.
“The UK exchange programs are very competitive and so are some of the business schools. Make sure to be interesting and really be personable in the seven questions that you need to answer,” Hammonds said.
Deadlines are very important so make sure to know when certain paper work is due. The deadline for the Global Partner programs is open Nov. 15th. After receiving notification of which program you have been accepted to, there is more paper work that includes financial questions, a meeting with your academic advisor, and two orientations.
“The orientations were helpful because they talked about general knowledge of health and safety as well as how to respect the different cultures,” Kloss said.
Even with the economic crisis, study abroad had seen an increase in the number of applicants. For Spring 2009, there were a total of about 100 applicants with Spring 2010, pullling in about 300 applicants.
“The numbers have increased so much. We believe that it is because students now know about the in-state tuition,” Hammonds said.
With so many choices of location to chose from it is also important that students not rush the process.
“I would really suggest starting early with the process. I started early and I went through a Global Partner and because I started early I ended up being able to get free airfare to study in Spain,” said Emily Keane, a fourth-year international studies student.
Going abroad to study without registering is a concern
Press Secretary of the President’s Office Mohamed Zuhair has said that the fact that students go to study abroad without registering according to regulations was a cause for concern.
Mohamed Zuhair said this answering a question put forward by Miadhu Daily. He said that from the many Maldivian students studying in Pakistan, parents of about 200 of these students were inquiring about their children’s whereabouts. Zuhair said these 200 or so students went to study in Pakistan without registering and this makes it difficult to search them down.
“Some of the names given by the parent’s, the name of the institution in which the students say they are going to study, are not even registered in Pakistan.” said Zuhair.
He said that government was planning of establishing a hotline in Foreign Ministry to assist Maldivian students in Pakistan. Zuhair said hopefully this hotline will begin its services tomorrow.
He also said that Maldivian parents are desperate to send their children to abroad to attain higher studies and in this hope they send their children even to Pakistan. Zuhair said that parent’s don’t think about checking just which institution their children are going for higher studies and “some” self proclaimed religious scholars in Maldives take advantage of this situation.
Zuhair further said that government was working to get hold of as many religious scholarships as possible from a government recognized institutions.
Miadhu spoke to one student in Pakistan and this student said that the situation is Pakistan was very dangerous. The student further said, “We are not sure if we will wake up when we sleep. We don’t know where the next terror target is going to be. We are stuck in a state of fear.”