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Financial Aid Policies
If you are currently receiving or are planning on using financial aid to pay for all or part of your expenses while abroad, please go to the financial aid office on your campus in order to determine whether aid will transfer to your GSE program. GSE advises students to apply early for aid in order to make the necessary payments by the listed deadlines.
Students wishing to obtain financial aid to pay for all or part of their GSE abroad program are required to read and complete the Financial Aid Payment Policies document. The document consists of two parts: the Financial Aid Disbursement Form (Part 1, to be completed by Financial Aid Officer) and the Financial Aid Letter of Agreement form (Part 2, to be completed by Student). This document must be filled out to ensure proper payment arrangements for your program. If GSE does not receive the document by mail or fax on or before the final payment deadline of the program, the student will incur a $200 late fee.
THE FINANCIAL AID DISBURSEMENT FORM (Part 1 of 2):
Submit this form to a financial aid advisor at your home institution’s financial aid office. This form should clearly indicate the dates of disbursement of the award package, the amount of aid the student will receive, and to whom the check will be made payable. In some cases the disbursement dates listed are after the final payment date or after the student begins their program abroad. In such cases, students are eligible for a deferment of the payment portion that is to be made by their award package. It is the student’s responsibility to ensure that GSE receives the deferred financial aid payment no later than 10 business days after the disbursement date listed on the Financial Aid Disbursement Form. In many cases the student is already abroad after the check is disbursed, creating a problem if the student’s signature is needed to cash the check. To avoid this predicament GSE advises that the student arrange well in advance of the program to grant a Power of Attorney to a family member that will remain in the country for the duration of the student’s time abroad. This will enable financial aid checks to be sent to someone trustworthy in the country that can sign them on behalf of the student, deposit the funds, and make a prompt payment to GSE to ensure the student does not incur late fees. Include a copy of the Power of Attorney document with your Financial Aid Payment Policies document.
THE FINANCIAL AID LETTER OF AGREEMENT (Part 2 of 2):
All GSE participants using financial aid to pay for all or part of their program’s expenses must complete this form. This form assures that, in the event that the financial aid funds are not received, you will assume full responsibility for the payment of the program.
Part 1 and Part 2, along with the difference of costs not covered by the financial aid award package, must be received by GSE no later than the final payment deadline of the program. Any student that fails to submit this document and any balance that will not be covered by financial aid will incur a $200 late fee. Please be aware that neither the application payment nor the confirmation deposit can be deferred and must be paid by the assigned dates.
Consequences of Outstanding Balances
ULTIMATELY, IT IS THE RESPONSIBILITY OF THE STUDENT TO ENSURE THAT ALL PROGRAM FEES ARE PAID. Fees not covered by the financial aid award package must be covered by the student by the assigned payment due dates. Not paying the program fees in full and/or failing to submit the required financial aid forms by the final payment deadline will result in a $200 late fee. A student that has made arrangements with GSE to use financial aid and/or payment deferment that fails to pay according to the stated agreement may be prohibited from attending their program abroad, or, if already overseas, is subject to dismissal and the forfeiture of all aspects of their program abroad, including their privileges and rights as a GSE student, their university classes, and housing assignments. All refundable deposits will be forfeited by the student as well. GSE will advise the host institution abroad to withhold the student’s transcript until all payments are received. In the event that a participant begins the program on a deferred payment plan and withdraws from the program before the office receives the payment, the student loses refund privileges and is required to pay the amount in full to GSE within four weeks of the disbursement date agreed upon in Part 1 of the Financial Aid document. In the case that the student fails to pay the amount in full, GSE will observe the right to transfer any outstanding balances to a collections agency. More penalty fees may be assessed at the discretion of the agency.
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