- Deadline for receipt of financial aid application material:
- Deadline for receipt of Fall/ Full year Worksheet for Financing Study Abroad/Away:
- Deadline for receipt of Spring Worksheet for Financing Study Abroad/Away:
Students whose financial aid application material arrives after the deadline date may be subject to an additional loan penalty or the possibility of not being funded. Students who do not meet the deadline date for submission of budget work sheets to the Financial Aid Office will be reclassified as a full time student for the term or terms originally approved for study away. Students/families unable to meet the financial aid application deadline due to a medical emergency or other extenuating circumstance clearly beyond their control must contact the Office of Financial Aid in writing or via e-mail firstname.lastname@example.org and document these circumstances prior to the published deadline date. In such cases the office will establish a new schedule for submission of necessary materials. Students unable to meet the budget worksheet deadline date need to contact the Financial Aid Office.
FAQS for FINANCIAL AID
How does financial aid work when you study abroad? Students participating on either Vassar directed or non-Vassar approved programs are eligible to receive financial aid. The amount of aid a student receives is based on Vassar tuition, the program room and board, round trip airfare, standard allowance for books and personal expenses plus an allowance toward the Vassar health insurance plan if the student has elected to purchase the plan.
How much financial aid am I eligible for? Once you have been accepted on your program, you will be asked to fill out the online JYA Financial Aid Budget Worksheet where you will list the expected costs of your study abroad program as outlined above. The Financial Aid office will then use the information submitted on your FAFSA form to determine the level of aid you are eligible for and then apply this to the total cost of your program.
What happens to my work study? Work study is a federally funded, need based financial aid program and unfortunately Vassar College is unable to make up for the loss of work study earnings through additional Vassar scholarship funds. In order to assist students who depend on their work study earnings, the Financial Aid office will include a loan in your award to cover the amount. Like other loans included in a student’s financial aid package, you will have the option to accept it or not. Students should also look at outside scholarship opportunities. These are listed on the JYA website at http://internationalprograms.vassar.edu/financing/scholarships/. In addition many study abroad programs offer their own need based scholarship. Make sure that you take advantage of these scholarship opportunities. In the past Vassar students have
What if the tuition for my program is different from Vassar’s tuition? Vassar has a Home School Tuition Policy that means all students are charged and pay Vassar tuition when studying abroad during the academic year for either a semester or the whole year. Paying home tuition allows you to transfer credits earned abroad to your Vassar transcript.
Will the tuition I pay to Vassar cover my room and board expenses while I am abroad? Room and board is billed directly to the student and is not covered by your Vassar tuition. However, depending on your level of need, you may receive financial aid towards part or all of the cost of room and board. Remember that room and board is one of the line items included in your JYA Financial Aid Budget Worksheet used in determining the total cost of attendance for the semester that you are abroad.
My program is asking me to pay a deposit. Do I have to pay this? In most cases it is the student’s responsibility to pay the program deposit. The deposit is usually non-refundable however your program will apply the deposit to your room and board bill reducing the balance you owe to the program. In certain situations where it is a financial burden to the student, you can ask the program if they will waive the deposit. In either case, if you change your mind after you accept your spot on the program, you could potentially lose your deposit.
When will I receive my financial aid money? In order to get your money as soon as possible, make sure that you complete your budget worksheet by the end of the semester before you leave for study abroad. Vassar scholarship is released in early July for the fall term and mid-December for the spring term. Federal funds (i.e. Pell Grant, SEOG, Smart Grant, Perkins Loan, Stafford Loan, PLUS loans) will be disbursed no earlier than 10 days before the start of Vassar classes.
What if I need my financial aid money to pay for my room and board? You should be able to see the amount of financial aid you are receiving on your Vassar student account once the money has been disbursed. All scholarship, grants and loans will be itemized. Your financial aid funds will be applied against the balance on your Vassar account. Once your Vassar charges have been paid in full, any remaining aid will be refunded to you through your NelNet direct deposit account so that you can pay any outstanding balance on your study abroad program.