Financial Aid and GSE Scholarship Information

Did you know that GSE students may use most forms of federal, state, and private financial aid or loans while studying abroad?


What types of expenses can financial aid cover?

Financial aid may be allocated to cover all reasonable expenses of your study abroad trip. These include program tuition and fees, passport and visa fees, round-trip airfare, and other costs of living that may be incurred while abroad.


What are some of the eligibility requirements for federal financial aid?

Generally, in order to receive financial aid a student must carry at least a half-time load at the foreign institution and receive transferable credit for the program toward his or her degree. Credit received on a study abroad program does not have to fulfill major requirements, but can be recognized as elective credits that advance the student toward a degree (i.e. language credits). In order to be eligible for most types of aid you must also be a U.S. citizen or eligible non-citizen, hold a valid Social Security Card, be a high school graduate or hold a GED certificate, and be registered for the selective service if you are a male.


What is a Free Application for Federal Student Aid (FAFSA) and why you should fill one out?

The Free Application for Federal Student Aid, or FAFSA, is used to apply for federal student financial aid, including grants, loans, and work-study. In addition, it is used by most states and schools to award non-federal student financial aid. You can use your federal student financial aid to fund your study abroad experience on the condition that your home institution provides pre-approval for the credit you can earn abroad.


How do you complete your FAFSA?

For more complete information on how to complete a FAFSA visit www.fafsa.ed.gov . An important note to keep in mind is that each state has a separate deadline date to have your FAFSA complete for the next academic year. Contact your financial aid office to see if you are close to a deadline date for your FAFSA application. Bring all information that you received after completing the FAFSA to your financial aid office. Your FAFSA information will help your home institution guide you through the possible financial aid options.


What information do your financial aid and study abroad offices need?

Once your home institution approves the program, Global Student Experience will sign a “Consortium Agreement” with your home University. As part of this agreement GSE will provide your school’s financial aid office with an approximate budget for your study abroad program in order to help determine how much aid you will receive.


What other types of aid are available?

Federal Pell Grants

A Federal Pell Grant is not a loan and does not have to be repaid. Pell Grants are usually a foundation of financial aid, to which aid from other federal and nonfederal sources might be added. The maximum Pell Grant for the last award year was $4,050.


Gilman International Scholarship Program

Established by the International Academic Opportunity Act of 2000 this congressionally funded program provides awards for U.S. undergraduate students to study abroad who are receiving federal Pell Grant funding at their college or university. For more information about applying for a Gilman Scholarship visit www.iie.org/programs/gilman/index.html.


FSEOG (Federal Supplemental Education Opportunity Grants)

An FSEOG is given to undergraduate students with exceptional financial needs and the lowest Expected Family Contributions (EFC) number. Those students who receive Federal Pell Grants are given priority. An FSEOG is not a loan and does not have to be paid off. Apply for FSEOG by completing a FAFSA form.


Federal Perkins Loans

A Federal Perkins Loan is a low-interest (5 percent) loan for both undergraduate and graduate students with exceptional financial needs. Your school acts as lender and the loan is backed by government funds. You must repay this loan to your home institution. Depending on when you apply, your level of need, your Expected Family Contributions (EFC), and the school’s funding level, you can borrow up to $4,000 for each year of undergraduate study. Ask the financial aid office at your home institution for more information.


Stafford Loans

Stafford Loans, also known as a Direct Loan or a Federal Family Education Loan (FFEL), come as subsidized or unsubsidized loans. A subsidized loan is awarded based on financial need and the recipient does not pay interest until the repayment period, usually arranged after graduation. An unsubsidized loan is not awarded based on financial need and the recipient will be charged interest from the time the loan is disbursed until it is paid in full. Completing your FAFSA form is the first step in applying for a Stafford Loan. More information about direct loans can be found at www.ed.gov/directloan or by visiting your financial aid office.


Federal PLUS Loans

These are loans taken out by your parents to pay for your educational expenses. Types include Direct PLUS Loans and FFEL PLUS Loans. Your parents may apply if you are a dependent and if they pass a credit check. Your parents must complete and submit a PLUS Loan application, available from your school or lender. After the school completes its portion of the application, it must be sent to a lender for evaluation. For more information visit your school’s financial aid office.


You can explore scholarship options at these websites:

www.fastweb.com - Free scholarship search engine offering over $1 billion through over 600,000 scholarships.

www.collegenet.com - Search a $1.6 billion database for scholarships.

www.scholarships.com –Search college scholarships and financial aid information including Federal Stafford loans, Federal PLUS loans, and Federal Consolidation loans.

www.iefa.org - Resource for financial aid, college scholarships, and grants.

www.studentaid.ed.gov – U.S. Department of Education information about federal student aid.

GSE provides a number of different scholarships to help assist GSE participants pay for their program tuition costs abroad.  Applying for a GSE Scholarship is easy.  Adhere to the listed Scholarship Application Requirements or call GSE at (866) 756-2443 to get started today!

Scholarship Application Requirements:

-          Be currently enrolled in a college or university in the U.S. or Canada

-          Send GSE an official college or university transcript

-          Must be accepted into a GSE program

-          Meet the GPA  and other listed requirement assigned to each scholarship

-          Complete an essay of at least 400 words answering the Scholarship Question

-          Follow all of the GSE Policies; GSE reserves the right to revoke any scholarship if a GSE participant does not adhere to the GSE policies.

-          Students may only apply for one GSE scholarship

-          Deadlines:
- Fall 2008 Program: May 1, 2008
- Spring 2009 Program: September 1, 2008

Please send all Scholarship Essays and information to:

Global Student Experience Scholarships

17752 Skypark Circle, Suite 235

Irvine, CA 92614

Below is a complete list of available GSE Scholarships:

GSE Language Development Scholarship

Amount:  $500

Minimum GPA:  2.7

For any student who will be studying on a GSE quarter, semester, or year long foreign language program to any location.

Scholarship Question

Why is it important for Americans to acquire a second language?  What is the main benefit you expect to gain from the GSE language development program you will be participating in?

GSE Business Studies Scholarship

Amount:  $1000

Minimum GPA:  3.0

Open to any GSE student studying Business courses in London, Sydney, Paris, or Barcelona for a semester or year.

Scholarship Question

International business and globalization are growing trends.  How do these factors influence your life everyday in America?  How do you expect them to influence your daily life abroad?

GSE Liberal and Studio Arts Scholarship
Amount:  $1000
Minimum GPA:  3.0
For any student who will be studying on a GSE semester or year program to Lorenzo de' Medici in Florence, London Metropolitan University, or Macquarie University (Sydney) with academic studies focused on courses in studio arts, liberal arts, fine arts, or performing arts.
 
Scholarship Question
Florence, London, and Sydney each have their own distinct historical and contemporary climates for artistic expression.  Describe how the artistic heritage of your chosen study abroad destination will influence your personal growth.
 

GSE Academic Scholarship

Amount:  $1000

Minimum GPA:  3.0

For any student who will be studying on any GSE trimester, semester, or year long academic program to any location.

Scholarship Question

Research a major political, scientific, social or economic issue surfacing in Europe, South America, or Australia today.  Explain and support your point of view on the topic.

GSE Summer Scholarship

Amount:  $250

Minimum GPA:  3.0

For any student who will be attending a GSE summer program in any location.

Scholarship Question