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FINANCIAL MATTERS
Financial mattersMAY I USE MY FINANCIAL AID TO STUDY ABROAD?
Yes. If you are currently receiving some form of merit scholarship or need-based financial aid, that aid, minus the money you earn from working on campus, may be applied to a Davidson approved study abroad program during the academic year (fall/spring).

The portion your family is expected to pay will remain the same as if you were on campus, and the Financial Aid Office adjusts the amount of aid you receive to help you cover the cost of studying abroad. So if your program costs are less than Davidson, your aid amount also will be less. If your program costs are more than Davidson, your aid amount (minus what you receive from working on campus) will be the same as the amount you would receive being on campus. Please be aware that you will be responsible for covering the additional amount if your program costs exceed what you normally receive to cover the cost of attendance at Davidson.

Student athletes on scholarship should speak with Katy McNay, the Davidson College Compliance Director, as there are certain rules you must adhere to regarding monetary compensation (i.e., accepting “gifts,” coaching, competing in events not sanctioned by the NCAA, etc.). These regulations can get complicated while you are overseas.

International students are allowed to use Davidson financial aid to participate in a Davidson approved study abroad program during the academic year. However, they will not be able to use their financial aid to participate in programs in their home country.

Adjusted financial aid funds are transferred to student accounts so that they may pay program providers directly. However, funds will not be available until after the Financial Aid Office receives official notice from the host institution that you are enrolled and participating in your selected program. It typically takes 7-10 business days for funds to transfer. Your program provider may allow partial deferment of payment until your financial aid is disbursed. Please contact them for details.

For more information regarding how your financial aid package may be applied to your study abroad program, please read the Student Financial Assistance for Off-Campus Study form.

DO I NEED TO PAY TUITION TO DAVIDSON AND MY PARTNER PROVIDER PROGRAM WHILE I AM ABROAD?
No. Davidson-sponsored semester and academic year study abroad programs cost roughly the same as Davidson tuition, room and board minus the student activities fee. When a student studies abroad for a semester or academic year on a partner provider program, Davidson only charges a nonrefundable administrative fee of $350.00, with all the other costs set by the program provider. The administrative fee offsets some of the costs that the College incurs while students are studying abroad with partner provider programs.

The administrative fee will be charged to the student’s account after committing to a program and officially notifying the college via the application process (see the Application Process section for additional details).

Please note:  There is a $250.00 penalty if a student submits the "Official Leave Notification" after the March 15 deadline for the fall semester or academic year programs, or if after November 1 deadline for spring semester programs. There is a $500.00 penalty if a student submits the Leave Form after June 15 for the fall semester/academic year or after January 1 for the spring semester.


MAY I RECEIVE FINANCIAL SUPPORT FOR SUMMER STUDY ABROAD?
Yes! Although the financial aid you receive during the academic year will not transfer for summer study abroad programs, there is plenty of funding available. We encourage you to investigate and apply for summer funding opportunities early so that you do not miss any deadlines!

Dean Rusk travel grants only support study abroad in the summer and do not provide grants to support study abroad during the academic year. If you apply for a grant to support summer study abroad, please remember that grant amounts vary considerably, and amounts tend to range from $1,000.00 - $3,000.00. Independent projects have a higher priority and generally receive more funding than group excursions. Davidson-sponsored summer programs typically receive higher priority than study abroad programs through partner providers. However, a number of our partner providers offer summer grants and scholarships.

Please refer to Summer Abroad Scholarships for additional Davidson-funded grants and scholarships as well as external funding opportunities.


IS MY STUDY ABROAD PROGRAM TAX DEDUCTIBLE?
Davidson provides a 1098T form for students participating in Davidson faculty-led programs. Davidson will NOT provide a 1098T form for students participating in partner provider programs because Davidson does not do direct billing for these programs.
 
Some study abroad programs are NOT tax deductible. Please check with your program provider before committing to a program.

 
Last modified 07/31/2017

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