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Financial Planning

Updated 5/9/2022 - Davidson's study abroad funding policy: Travel to countries with U.S. Department of State level 4 advisory is not permitted. Additionally, if the committee feels a program is unable to support students adequately given ongoing risk factors, they may suspend approval of programs.
 
Students traveling to higher risk locations will have to fill out waivers acknowledging risks and must be prepared to submit a plan detailing the precautions they will take to protect their health and safety and the health and safety of others as well as what steps they will take if their country experiences a lockdown. OEA will communicate more details on these requirements to students through their applications as needed.
 

International study is an integral part of the Davidson experience that prepares students to lead in a future filled with the unfamiliar. Davidson seeks to make these high-quality programs available to all students, regardless of their financial circumstances.
 
The process for paying for a study abroad program varies depending on the type of program (Davidson-administered or partner program) and the term during which a student is abroad. Answers to common questions are listed below, but students with additional questions should contact the Office of Education Abroad at edabroad@davidson.edu and the Financial Aid Office.

FALL, SPRING, ACADEMIC YEAR
Study abroad students retain an active status at Davidson, earn credit toward their degree, and continue to receive some services from the College while abroad, including from the Registrar’s Office and Center for Career Development, whether participating on Davidson-administered programs or with approved partners. Students are also able to use the payment plan option through Davidson for fees paid to the college.
 
Typically, students receiving financial aid through Davidson are able to apply that aid toward their study abroad program costs. Details regarding this process are outlined under Financial Aid.

Davidson Programs
Students enrolled in Davidson-administered semester programs will pay Davidson tuition and academic fees AND will pay on-campus rates for housing and meals. Davidson will bill students’ accounts, and students will make payments in the same manner as though they were going to be on campus. A nonrefundable commitment deposit is due after acceptance (typically in early March for fall semester programs) and will be deducted from the total amount due on August 1.
 
Davidson program fees cover most expenses for the semester abroad, but students should review Budgeting for Study Abroad to determine if they should anticipate any additional costs, such as passport renewal fees, immunizations, personal travel/activities, ongoing and/or unexpected upfront medical expenses.
 
Partner Programs
Students enrolled in partner programs will receive two invoices: 1) one from Davidson for Davidson’s standard tuition fee and, 2) one from the partner program for housing, meals, and other non-academic fees. Payment deadlines for these programs vary, so students should be sure to make note of these upon acceptance.
 
Many programs require a nonrefundable commitment deposit after acceptance, and students are responsible for paying this directly to the partner program to secure their spot on the program.

Financial Aid
Students may continue to apply merit scholarships or need-based financial aid (but not work-study awards) toward approved academic year and semester programs (international students, please see below). Aid is calculated based on the full cost of attendance in the study abroad program and therefore may differ from the amount of aid for a semester on campus. If the cost of attendance for a program is less than the cost of a semester at Davidson, a student’s financial aid package will be reduced. Out-of-pocket expenses should remain roughly the same. If the program cost is greater than a semester at Davidson, a student’s aid will NOT be increased to cover the additional amount, and students will be responsible for covering the overage. Students are strongly encouraged to pursue additional external funding sources. Many partner programs offer scholarships, and other opportunities are listed below. Education Abroad Advisers are available to meet with students who have questions.
 
Scholar athletes on scholarship should contact Katy McNay, the Assistant Director of Athletics for Compliance, at kamcnay@davidson.edu regarding study abroad plans as there are certain rules they must adhere to regarding monetary compensation, accepting “gifts,” coaching, and competing in events not sanctioned by the NCAA. These regulations can get complicated while students are abroad.

International students are allowed to use their 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 study on programs based in their home country.

Financial Aid Distribution
If students have a credit after their financial aid funds have been applied toward fees billed by Davidson, those funds will be transferred to student accounts so that they may pay their program directly for housing, meals, and other non-academic fees. However, funds will not be available until after the Financial Aid Office receives official notice from the host institution that the student is enrolled and participating in their selected program. It typically takes 7-10 business days for funds to transfer following notification of enrollment. The partner program may allow partial deferment of payment until financial aid is disbursed. Please contact the partner program for details and deferment requests.


Spring Travel Grants
Davidson students studying abroad during the spring semester (including academic year participants) are eligible to apply for the following travel grants, available thanks to generous donors. Applications will be deployed automatically in a student's Davidson study abroad portal.

Heitz-Wagener Spring Travel Grant
Students who receive need-based financial aid and who study abroad during the spring semester (including academic year participants) may apply for a stipend to support additional travel. Each spring semester, the committee will award may award up to stipends of no more than $1,500 each.

Stipends are intended to support additional travel that deepens a student's international experience following the conclusion of a study abroad program:
  • funds may be used only for travel for further cultural exploration at the end of the program
  • funds may not be used to pay study abroad program fees or for travel costs between the United States (or the student’s home country if they reside abroad) and the study abroad program.
Stephen W. Keller Memorial Scholarship
Students who study abroad during the spring semester (including academic year participants) may apply for the Stephen W. Keller '04 Memorial Scholarship. One award of $4,000 each year enables students interested in the classics to spend a minimum of four weeks exploring Greece and Italy, specifically the classical world, historic sites, monuments, and collections, either prior to or following an education abroad experience in Europe, North Africa, or the Middle East. The scholarship is a grant that should be used to deepen engagement beyond regularly scheduled curricular activities of the study abroad program, and it may not be used to cover the travel costs between the United States (or home country) and the study abroad program.

External Funding Resources
SUMMER & WINTER BREAK
Students studying abroad on a summer program will pay a program fee to the respective program (i.e., those on a Davidson-administered program will be billed by Davidson while those on partner programs will be billed by the partner). Most programs require a nonrefundable deposit to secure a spot on the program. Students should confirm with their program which expenses are included in the fee and what costs they should expect to pay separately.
 
Grants, Scholarships, & Other Funding Sources
Generally, financial aid received during the academic year cannot be applied to summer study abroad programs (unless students have a scholarship that includes an additional summer stipend). However, generous funding is available through Davidson and external sources. Students are strongly encouraged to research and apply for summer funding opportunities early so that they do not miss any deadlines. Deadlines and links to applications are available in CATALYST.

Eligibility criteria and application requirements vary by scholarship. Some scholarships require written essays or participation in specific programming if students accept the funding. Students should schedule an appointment with an Education Abroad Adviser to discuss any questions about applying for summer funding. In addition to reviewing the eligibility criteria with students, advisers are happy to assist students with brainstorming proposals or proofreading essays. 

Davidson College Funding Sources External Funding Opportunities
WITHDRAWAL, CANCELATION, & REFUND POLICY
If a student withdraws from a Davidson College study abroad or domestic off-campus study program or is required by the College to withdraw, the following payments will be assessed:

If withdrawal occurs between the time of deposit and the beginning of the Davidson College study abroad or domestic off-campus study program, the amount of deposit will be retained by the College, as well as any funds already committed on behalf of the student. Committed funds are 1) monies that the program has already paid to a service provider, and/or 2) monies that the program has agreed to pay to a service provider on terms that cannot be modified or recovered.

If withdrawal occurs on or after the beginning date of a semester or a summer program, for any reason, no refund of the semester or summer program cost is issued.

If withdrawal occurs on or after the beginning date of the first semester of an academic year program, for any reason, no refund of the first semester cost is issued. If withdrawal occurs on or after the beginning date of the second semester of an academic year program, no refund of the full academic year cost is issued. 

If a student receiving federal aid withdraws from a Davidson College off-campus study program, the federal aid funds will be treated according to applicable federal regulations. Detailed rules and laws related to these calculations are available upon request from the Office of Admission and Financial Aid.

If Davidson College cancels one of its study abroad or domestic off-campus study programs before a program starts, a full refund of the program fee will be issued.

If Davidson College or one of its study abroad or domestic off-campus study program partners must suspend a program in progress, yet coursework may be completed, no refund will be issued for tuition. A partial refund may be issued for non-academic program costs in the event of an early program closure, depending on recoverable expenses. If coursework may not be continued as a result of a program cancelation, a refund of program cost will be issued.

The College offers tuition-refund insurance during the academic year for Davidson College study abroad programs through AWG Dewar, Inc. Detailed information may be obtained by calling 617-774-1555 or online at AWG Dewar, Inc.

Students studying abroad with a partner program should contact their program to verify its withdrawal and refund policy. Please note that withdrawing from a partner program study program after submitting the Official Off-Campus Study Notification (March 15 for fall and academic year, November 1 for spring) could result in an administrative fee based on costs that Davidson has already paid to the program on the student's behalf. If interested, students are eligible to purchase tuition-refund insurance for the tuition portion of their study abroad program. Details are available at the AWG Dewar link above.