Pre-Departure Financial Aid Tutorial


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  • These data are from IIE’s Open Doors survey (2006 report covers 2004-05 data). Shorter term programs (56% of students are summer, January term or short-term less than a semester) are dominating the scene. Study Abroad’s traditional emphasis on immersion in a single culture is not a feasible academic objective for stays of this length. Also, the assumption that the host site has a single “culture” is increasingly false. Paris is not like Strasbourg, which is not like Brittany, which is not like Provence, and France is no longer just “French” – it is Islamic, Arab and Turkish too. China is multi cultural, as are almost all nations today.
  • Pre-Departure Financial Aid Tutorial

    1. 1. Financial Aid
    2. 2. Fafsa Form <ul><li>Complete the FAFSA Form electronically </li></ul><ul><li>Check info at: </li></ul><ul><li>Important! You MUST use the school code from your home institution. </li></ul><ul><li>Allow FAFSA 2-3 business days to process. </li></ul><ul><li>Contact your home institution with FAFSA or Parent Plus loan questions. </li></ul>
    3. 3. Processing Financial Aid <ul><li>Does your school process Financial Aid for CEA Global Education? </li></ul><ul><ul><li>Contact your Study Abroad Office (or equivalent) and ask them. </li></ul></ul><ul><ul><li>Find out if the Bursar’s Office will transfer your financial aid disbursement to CEA Global Education. </li></ul></ul>
    4. 4. The Consortium Agreement <ul><li>The Consortium Agreement is an agreement between your home institution and CEA </li></ul><ul><li>The agreement states that your school will process Financial Aid for your Study Abroad program </li></ul>
    5. 5. How does that affect the student? <ul><li>Universities often require a Consortium Agreement to be completed and turned in BEFORE they will complete any Financial Aid documents </li></ul><ul><li>They often require ‘Cost of Attendance’ information, which determines your Financial Aid Eligibility </li></ul><ul><li>A semester budget is provided by CEA under the ‘Resources’ tab in your MyCEA account </li></ul>
    6. 6. What forms do I need? <ul><li>Financial Aid Disbursement Form </li></ul><ul><ul><li>In your MyCEA account, under ‘Resources’ </li></ul></ul><ul><ul><li>Your Financial Aid Office fills out this form </li></ul></ul><ul><ul><li>Mail, fax, or scan/email the form to CEA </li></ul></ul><ul><ul><li>This form MUST be turned in to CEA BEFORE the Final Payment Due Date! </li></ul></ul><ul><li>Student Financial Aid Agreement Form </li></ul><ul><ul><li>You can fill this out, and send it in to CEA </li></ul></ul>
    7. 7. What if Financial Aid does not cover the entire program cost? <ul><li>You must pay the remaining balance by the ORIGINAL Final Payment Due Date. </li></ul><ul><li>Late payments are subject to a $300.00 Late Fee. </li></ul><ul><li>You must also turn in the Financial Aid Disbursement form by the original Final Payment Due Date. If not, you are subject to the $300.00 Late Fee. </li></ul>
    8. 8. Example <ul><li>You are going to Barcelona this Spring </li></ul><ul><li>Your Program Cost is $12,000 </li></ul><ul><li>Payment due date is October 1 st </li></ul><ul><li>You have sent your completed Financial Aid Disbursement Form to CEA, which states that $9,000 is to be disbursed on January 30 th </li></ul><ul><li>You are required to pay $3,000 ($12,000 - $9,000 = $3,000) no later than October 1 st </li></ul>
    9. 9. How are Financial Aid funds sent to CEA? <ul><li>Typically, Financial Aid gets disbursed to the student. </li></ul><ul><li>It is the responsibility of the student to send in the payment to CEA no later than 2 weeks after the disbursement date. </li></ul><ul><li>Continuing out Example, the additional $9,000 would be due no later than 2 weeks after January 30 th. </li></ul>
    10. 10. What if my school does not transfer Financial Aid? <ul><li>Check alternative financing options at: http:// </li></ul><ul><li>Or please call a representative in Student Accounts at CEA for further info: </li></ul><ul><li>1-800-266-4441 </li></ul>
    11. 11. What if I go to a Direct Bill school? <ul><li>Please see the Direct Bill Financing Presentation </li></ul>
    12. 12. What if my parents are paying for 100% of my program? <ul><li>If that is the case, we do not need any Financial Aid forms </li></ul><ul><li>They can pay online through the student MyCEA account under the ‘Payment Info’ section. Options include: </li></ul><ul><ul><li>Electronic check payment from your MyCEA Account </li></ul></ul><ul><ul><li>Online Credit Card payment, which is subject to a 3% processing fee for all total payments over $5,000.00 </li></ul></ul><ul><li>They can mail a check to CEA: </li></ul><ul><li>2005 W. 14 th St., Suite 113, Tempe, AZ 85281-6977 </li></ul><ul><li>The can wire transfer the funds – contact CEA for details </li></ul>