Financial Information
For many students, a learning abroad experience is only possible with financial assistance. The Learning Abroad Center does its best to address this need. Several scholarships, fee reductions and grants are available. In addition, it is possible to use financial aid for virtually every study abroad
option. Even if you have not received financial aid in the past, you
should consider applying for financial aid for the period of your study
abroad. Many students who don't think they qualify do in fact qualify
for some need-based aid.
Every student is eligible for some type of
financial aid, it simply depends on which type you are willing to
accept. It is a good idea to apply in case you might unexpectedly need
access some funds, even if they are in the form of loans. If you are considering going abroad, you should read the steps for receiving financial aid abroad.
Two types of financial aid to consider:
Need-based
This type of aid is based on an evaluation of your financial need and is processed by the University of Minnesota Office of Student Finance. It includes the Minnesota State Grant, Federal Pell Grant, Ford Federal Direct Subsidized Loan, and assorted University of Minnesota Trust loans and grants.
Supplementary
These are loans and are not need-based. They are designed to supplement the parent/student contribution to your educational costs. They can be used alone or in conjunction with need-based financial aid to finance your study abroad costs. Supplementary loans involve a separate application process through the Office of Student Finance and include the Ford Federal Direct Unsubsidized Loan, Student Educational Loan Fund (SELF), and Ford Federal Direct PLUS (i.e. loan for parents).
