Financing Your Study Abroad

There are many ways to finance your study abroad program! By enrolling in our programs you will be able to take full advantage of our knowledge and experience in this field! We’ll complete any paperwork your school or fund requires.

Sol Education Abroad is among the most affordable study abroad programs available. In fact, studying with us is usually far less expensive than studying at your home university.

Creative Fundraising Ideas

While it’s important to apply for as many scholarships as possible, you shouldn’t expect to receive every award. It’s important to consider other funding options & remember that every little bit helps. Small amounts can add up to big rewards! Please see the link here to the creative ideas from the University of Kentucky's Education Abroad office: creative fundraising ideas

Fund My Travel

Fund My Travel is an online crowd funding platform developed by GoAbroad.com to allow students to raise funds to cover the expenses of their study abroad program. With Fund My Travel, students can create customizable travel campaigns which they can share across numerous social media channels in order to collect donations from friends, contacts and family members – all you need is a verified PayPal account.

Scholarships

With such a range of scholarships you must confirm whether or not the scholarship can be used for our program. Independent scholarships can almost always be used for your Sol Education Abroad program but sometimes university-specific scholarships have special stipulations.

Federal Student Aid (FAFSA)

The majority of schools allow you to use FAFSA funds on our programs. Normally, there is paperwork to fill out to confirm the estimated amount of funds needed. This is done through a Consortium Agreement.

A Consortium Agreement is the written agreement between your school and our organization that allows you to take coursework at our program location and have the coursework count towards your degree at your home institution. It confirms that you will be enrolled as a full time student. If you drop below full-time status while abroad you will have to pay back your Financial Aid.

We will complete all Consortium Agreements and enter in the estimated Price Breakdown for the program.

Educational Loans

If you are ineligible for Financial Aid, and do not receive any scholarships and need additional funds we recommend applying for Educational Loans. You can do so through a private lender such as Wells Fargo, Sallie Mae or Wachovia Bank. You will need to supply a FAFSA code from a United States university.

Private Lenders:
Sallie Mae: 888-272-5543
Wachovia: 800-922-4684
Wells Fargo: 800-378-5526

GI Bill

Here is important information regarding how to use your GI Bill to study abroad:
GI Bill & Study Abroad (PDF document)
Post-911 GI Bill (general link)

Note: Some reps unfamiliar with study abroad and this process may think you cannot use your GI Bill but this is not the case! If you have problems we suggest you contact Student Veterans of America

Working closely with the VA (either the Veteran’s office on campus or directly with the VA) is important so that you are clear about pre-approving classes before you leave and making sure everything is understood so you avoid paying back benefits. If you enroll in courses that will apply to your degree plan the VA can pay the cost of the home school's tuition up to the in-state maximum, and can pay a monthly stipend for room and board, and a stipend for books and supplies. Is study abroad mandatory for your degree? If so, the VA can cover the cost of any fees specific to study abroad (such as study abroad administrative fees, airfare, etc. Benefits are only payable up to the benefit payment tier for which you are eligible. For example, if your benefit payment tier is 40%, the VA would pay 40% of the housing allowance, 40% of charged tuition and 40% of the books stipend.

Here is a very good article on the ins and outs of the GI Bill:
http://www.goabroad.com/articles/study-abroad/how-to-use-your-gi-bill-to-study-abroad

Release of Funds

If you are paying for your program, or a portion of your program, through Financial Aid or scholarships, then we require a $500 Good Faith Payment before departure. Financial Aid is normally released once the session begins or slightly before.

We must also have written confirmation from you that you are using Financial Aid and when you estimate that the funds will be released. Once you have received your funds it is your responsibility to pay your remaining program balance. If you have not paid by the half-way point you will be removed from the program (academics, homestay, etc.).