Financial Matters

When you begin thinking about a study abroad program the question of money and how your program will be funded takes an important place in the decision making process. Too often students pass up an important opportunity to study abroad because they feel that they can’t afford it. In actuality, it may be less expensive spending a semester or year abroad than staying at your home institution, FDU. Do you lose the financial aid and scholarship money that you are currently receiving if you go abroad? Are there special scholarships available for students going abroad? What are the criteria and deadlines for these scholarships?

This page will help to answer these questions and show that study abroad is affordable and can be tailored to suit your academic needs and financial budget.

What happens to a student’s financial aid if they decide to go abroad?

To answer this question it’s important to break study abroad down into three categories.

Fairleigh Dickinson Programs (Wroxton College and individual courses)
This category of study abroad is run through the university. Wroxton College and Summer/ Winter Faculty-Led programs fall into this group. While studying abroad with one of these programs any money (loans and scholarships) that you receive during the regular spring/fall semester at your home campus will stay with you while abroad. Please keep in mind that even if the travel component of a course is during the winter or summer, the course may be listed and registered for as a fall course.

Consortium Agreement Programs (Semester or year long programs)
These programs are study abroad run through other American institutions. If you are interested in a study abroad program that another university is running you will need to file a Consortium Agreement Form (PDF) . This form allows you to become a visiting student at the school hosting the program. The agreement between consortium schools also enables you to keep the Federal and State aid components of your financial aid package (excluding FDU component) while participating in their study abroad program. Most accredited colleges and universities are willing to act as a consortium school.

Note: While participating in study abroad with any institution other than Fairleigh Dickinson you will be paying the tuition and any fees of that host institution.

Please visit the Study Abroad Office for reference to a variety of study abroad programs.

Non-Consortium schools and direct enrollment into institutions abroad
Maybe the study abroad program that you interested in is not eligible to participate as a consortium school or, you are interested in enrolling directly into an institution abroad. The study abroad office can assist with the application process but be aware that the financial burden falls directly upon the student. Your financial aid will not travel with you and your department chairperson must approve all credits before they can be accepted.

Insurance
All students going abroad must show proof of insurance. Whether you are under your parent’s coverage, your own coverage or you purchase the plan that the Study Abroad Office has available, a photocopy of your insurance card must be placed in your file. This insurance must remain valid the entire duration of your time spent abroad. Please stop by the Study Abroad Office for details on purchasing insurance.