Study Abroad Financial Aid FAQ
Q. Will the scholarship award I receive from The New School cover my study abroad tuition?
A. In most cases, unfortunately not. If you are participating in one of our Lang-sponsored programs, your scholarships should "travel" with you. In almost all other cases, only your federal aid can be applied toward study abroad expenses.
Q. What about my financial aid from New York State, like the TAP Award?
A. Sometimes state financial aid can be used. If the host institution for the program abroad (the one granting the credit) is a New York State institution, you might be eligible to receive funds. The decision to accept state financial aid is made by the individual program, so discuss this question with your program representative and a New School financial aid counselor early in the application process, particularly if financial constraints will influence your decision to study abroad.
Q. How do I receive my financial aid monies, particularly if I have to leave before the financial aid will disburse it to my account at The New School?
A. Before you leave, visit MyNewSchool to request an electronic transfer of your financial aid/refund (if applicable; see questions above). You can also designate another adult (parent, family member, or close friend) to endorse and deposit your funds to a bank account from which you can withdraw money while you're abroad. If you prefer not to do this online, you should give the bursar an address to which your refund check can be mailed, and get a power of attorney form from Student Financial Services to designate your proxy.
Q. How will I cover my tuition, living expenses, books, etc., while I wait for The New School to receive and disburse my aid?
A. These expenses are your responsibility. You must plan to have enough money on hand to live for the first month of the semester while you wait for Student Financial Services to process your money. Remember, the counselors must receive and disburse the funds, the bursar must either electronically submit your payment or print and mail a check for any refund amounts, and your proxy must sign and deposit the check.
In most cases, institutional scholarships and perhaps outside loans/scholarships (if applicable) should be available sooner than federal aid, which often arrives a few days after the beginning of our semester. If your abroad program has an earlier start date, you should be prepared for the delay.
Q. What if I depart for my program without having finalized the financial aid consortium/contractual agreement?
A. If you have not finalized the arrangements, all loans and other financial aid funds you were expecting to receive will be returned to the lender, and you will be held responsible for all expenses you incur.