Can I use financial Aid for CAPA study abroad programs?
Yes! It is possible to use some of your financial aid to help cover the cost of a CAPA study abroad program.  You will, however, need to contact your financial aid advisor at your home university or college to find out what types of aid will be accepted.   If you are interested in a summer program, make sure you ask your financial aid advisor if you will be able to use your financial aid during this term.

Are all students eligible for financial aid?
Most financial aid packages are determined by financial need and are based on a student’s expected family contribution (EFC).  A student’s EFC is a figure calculated using a federal formula and the information you provide on your FAFSA (Free Application for Federal Student Aid).  There are some scholarships available that are merit based which are not based on financial need.  Please refer to this link for helpful scholarship resources.

Does CAPA grant financial aid?
No, CAPA does not grant financial aid.  You will need to apply for financial aid through your home institution.  CAPA offers a deferred payment plan for financial aid students who can demonstrate that they will be receiving aid through a financial aid disbursement form.

How do I apply for study abroad financial aid?
This process is the same as applying for general financial aid as long as your university or college is providing the course credit. 

• You will first need to complete a free online application for federal student aid. (FAFSA Link http://www.fafsa.ed.gov/)
• Arrange a meeting with your home campus financial aid advisor and make sure you bring along your CAPA program information and financial aid disbursement form.
• Your financial aid advisor will review your options with you.

When should I start applying for financial aid?
Complete the FAFSA online application early, but not before January 1, for the following academic year.  Application deadlines are listed on the FAFSA website.  Keep in mind that the financial aid procedure for study abroad will take additional time and planning.  Most scholarship application deadlines vary from six months to one and a half years prior to departure.

Are there limits to the amount of financial aid I can receive?
Yes, there may be limits, especially for summer sessions since these programs are part of the previous academic year.  Ask your financial aid advisor for tips on how to distribute your financial aid reward throughout the academic year.

How much of my study abroad costs will financial aid cover?
This varies significantly from student to student and will depend on the overall cost of your CAPA program, your financial need, and the number of supplementary loans to which you will have access.  In reviewing your options, you should always consider how much loan debt you are willing to take on.

If my study abroad program costs more than being at my home institution, can I get additional aid?
Aid packages are based on the “cost of attendance,” which includes tuition, room and board, books and supplies, personal expenses, and a transportation allowance.  If your CAPA study abroad program costs more than being at your home university or college, your cost of attendance will be higher, and you will therefore be able to apply for additional aid.

Do the number of credits I take affect my financial aid?
Yes, it is important you ask your financial aid advisor how many credits you must take in order to receive aid.  Most aid requires a minimum of twelve credits per semester.

I will be taking part in a CAPA program that is sponsored by a university other than my home university.  Can I apply for financial aid through the university sponsoring the CAPA program?
No, you must apply for your financial aid through your home university.  Visit your financial aid advisor to make sure they are aware that you are applying for financial aid for a program that is sponsored by another university.  Your financial aid advisor will inform you whether it is possible to receive aid for that program. If it is possible, your financial aid officer should sign a consortium agreement form that will also need to be signed by the university sponsoring the CAPA overseas program. This completed form should be returned to CAPA who can obtain the sponsoring university’s signature.

When should I let CAPA know that I plan on utilizing financial aid to help cover program costs?
Make sure you check the appropriate box on your CAPA application that states you will be relying on financial aid to help cover your fees.  Once this is noted on your application, CAPA will send you a financial aid disbursement form in the mail.  You will need to fill out the top portion, and then take the form to your campus financial aid advisor so they can fill out the appropriate aid amounts along with the disbursement dates at the bottom.

What is the CAPA payment plan for financial aid students?
If CAPA has received your completed financial aid disbursement form, you will only need to pay 30% of your program fees on the payment deadline of 70 day prior to departure from the US.  The remaining 70% will be deferred and become due 30 days prior to your departure from the US.

If my disbursement date is after my program starts, do I still need to meet the CAPA financial aid payment deadlines?
Yes, you will need to pay 30% of your program fees at the 70-day deadline and the remaining 70% at the 30-day deadline regardless of when you will receive your aid.  CAPA begins making payments on your behalf for program services once you are enrolled.  If CAPA does not receive 30% of your payment by the 70-day deadline, you will be automatically cancelled from the program.  Please contact the CAPA student accounts coordinator at 1-800-793-0334 if you have concerns about meeting the payment deadlines.

After my tuition and program fees are paid, how can I access any remaining financial aid funds to help cover my other expenses?
When you are applying for your funds for study abroad, be sure to ask your financial aid officer this question.  You may need to fill out forms with the financial aid office or with your bursar’s office to designate how and where excess funds are sent.  You may need to give a designated person (make sure it is someone your trust) the power to act on your behalf to deposit a check for you in an account from which you can draw funds.  It’s important to find this out well before you go abroad.  The last thing you want is to find that you arrive at the CAPA location and you don’t have a way to access the funds you were planning to use for your living expenses on the program.