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Financing study abroadKEI accepts all forms of financial aid. Payment of the program fee can be deferred until financial aid is disbursed - even if the program is already in session. Refer to KEI policies for more information. KEI also prepared a Financial Aid Guide describing various forms of financial aid and payment options.
There are various sources of aid available for study abroad - KEI, federal government, state government, university/college and foundations. Financial aid available through KEI is described on the KEI financial aid page. This page contains information about non-KEI aid.
Federal financial aid...Federal aid refers to financial assistance provided by the federal government including Pell grants, Stafford loans, Plus loans, Perkins loans and GI Bill. Federal law states that students can use federal financial aid to cover reasonable costs associated with education abroad if they are eligible for such aid and their home institution approved the program for credit transfer. Click on each item below for more information. PELL Grant A Federal Pell Grant, unlike a loan, does not have to be repaid. Generally, Pell Grants are awarded only to undergraduate students who have not earned a bachelor-s or professional degree. In some cases, you may receive a Pell Grant for attending a post-baccalaureate teacher certification program. For many students, Pell Grants provide a foundation of financial aid to which other aid may be added.
Stafford Loan (FFEL loan) Stafford loans are the major source of federal self-help aid, and come in two forms:
PLUS Loan (Parent Loan) PLUS Loans are a federal source of funding that enable parents with good credit histories to borrow to pay the education expenses of each child who is a dependent undergraduate student enrolled at least half time. PLUS Loans are available through both the Direct Loan and FFEL programs.
Perkins Loan A Federal Perkins loan is a need-based loan used to supplement what a Stafford loan cannot cover. The program is in conjunction with the federal government and home institution, and available to both undergraduate and graduate students.
GI Bill Students who served in the military can use the GI Bill for study abroad. The first step is to contact your regional Veteran-s Affairs office and speak with the Foreign Schools Representative. Have the following information ready: your name, address in the USA, social security number, program of study and course details. Visit the VA website at www.gibill.va.gov/ for more information.
State financial aid...State aid refers to any form of financial aid sponsored by the state. Some states offer scholarships, such as the Georgia's Hope Scholarship and West Virginia's Promise Scholarship. Some states also offer 529 Plans, which are college savings accounts based on stock portfolios. Rules governing scholarships and 529 plans depend on individual states. Since each state has its own policies, students should speak with the study abroad advisor and financial aid office at their home institution.
University financial aid...Do you receive a scholarship from your university? Some universities/colleges allow students to use their institutional scholarships for study abroad, while other universities/colleges do not. Speak with your academic advisor, financial aid office and/or scholarship administrator. Note that work-study cannot be used for study abroad.
Foundations...There are a number of foundations and companies that offer scholarships, grants and loans for education abroad. Each foundation has its own application requirements and deadlines. Links to the most notable foundations and companies are provided below.
Phone: 1.212.931.9953 | Toll Free: 1.800.831.5095 | Fax: 1.212.528.2095
63 Sickletown Road, West Nyack, New York, 10994 USA
info@KEIabroad.org | webmaster@KEIabroad.org
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