Study abroad programs involve a variety of costs including tuition and student fees, room and board fees, fees for passports and visa, medical insurance, and transportation fees. The policies of financing study abroad programs vary among higher education institutions in the United States, but financial aid is often available and includes federal grants and federal student loans.
To receive any type of financial aid students must complete the Free Application for Federal Student Aid (FAFSA).
Federal Grants
- The Federal Supplemental Education Opportunities Grant (SEOG): this grant is awarded on a need basis to students that show a high financial need. Students generally have to qualify for the Federal Pell Grant to be eligible for the SEOG Grant.
- The Pell Grant: this grant is a need-based grant and students must be enrolled as a full-time undergraduate student. The Expected Family Contribution (EFC) must be below a specific limit that is determined annually.
Federal Loans
- Federal Perkins Loan: a low-interest loan, typically 5% that is granted to students that show the greatest financial need.
- Federal Stafford Loan: a loan in the name of a student that is available to all students, no matter the financial needs. There are subsidized and unsubsidized types of this loan. Payment of the principle amount does not start until six months post graduation for both types of this loan as long as students stay enrolled on at least a half-time basis, which is a minimum of six credits per academic term.
- The subsidized type means the government pays the interest of the loan while the student is in school.
- The unsubsidized type means students are able to pay the interest on a quarterly basis while attending school or they can capitalize the interest.
3. Parent PLUS Loan for Undergraduate Students: this loan enables parents to borrow up to the complete cost of the student’s education, minus the amount of other financial aid.









