AFOW India program FAQs

Financial Aid FAQs:

Federal Aid

Does AFOW offer Financial Aid?
NO. All Federal Financial aid must be processed through your home school. Most schools have their own rules regarding transferring financial aid to third-party study abroad providers such as AFOW. Please speak with your study abroad office and/or your financial aid office to determine if you can use your financial aid.
I have already completed my FAFSA for this year. Now that I have decided to go abroad, do I need to complete a new one?
No. Only one FAFSA per Financial Aid year is needed.
Does AFOW have a Title IV Code that I can use on the FAFSA?
No. AFOW has no Title IV code. We cannot be one of the institutions included on your FAFSA form. Since we are not a Title IV Institution all Federal or Government Aid must be processed through your Home Institution.
So how exactly do I transfer my financial aid to AFOW to go to India?
Your home institution will have to enter into an agreement with AFOW for those students wanting to use Title IV student financial aid to study abroad. We can use the standard agreement we have on file or in some cases schools have their own agreements for third-party providers that AFOW and your school must complete through either your school’s financial aid office and/or study abroad office.
Can I get more Financial Aid awarded to me since my Study Abroad program costs more than my Home Institution?
Yes. You may be able to receive more funds now that you are enrolled with AFOW to study abroad. Federal law states that financial aid can cover all “reasonable” costs for a study abroad program. CEA will provide you with a Sample Budget for your Study Abroad program which will include estimated costs for such things as airfare, books & materials, additional meals, etc. Take the Sample Budget to your Home Institution’s Financial Aid Office to determine if any adjustments to your current Financial Aid Award can be made.
What is a Consortium agreement?
This is an agreement that is signed between your Home Institution and AFOW. It legally protects the Home Institution with regard to Federal law governing Financial Aid. Not all schools will require this agreement to be signed, and some schools may have a separate Contractual Agreement for non-Title IV institutions. Check with your Study Abroad Office or your Financial Aid Office to determine if this agreement is required by your Home Institution. They will be able to provide you with the form. You will need to fill out the student portion then fax or mail the form in to AFOW. We will complete the form and return it to your Home Institution for processing.
My Final Payment Due Date is coming up and my Home Institution has not yet awarded my Financial Aid. What do I do?
It may be possible for your Financial Aid Office to estimate your award, especially if you have received Financial Aid in the past. If this is possible, have them complete the Financial Aid Disbursement Form with the estimated amounts and return it AFOW before your Final Payment Due Date. When your award is finalized they will need to complete another Financial Aid Disbursement Form with the actual amount of your award.

Private Aid

What are my other options if my Home Institution won’t transfer my Financial Aid?
You may still be able to have a private educational loan processed through your Home Institution, speak with your Financial Aid Office for more information.
What if I am taking a leave of absence from my Home Institution to study abroad?
If you will be taking a leave of absence from your home institution but your home institution is accepting your academic credits from your time abroad, then you may be able to apply for a private loan that disburses the funds to the borrower in order to pay for your program. If you will not be receiving academic credit for your time abroad then you will need to pay for the program out of pocket.
Can I use my 529 Plan to pay my AFOW program?
529 Plans are State Sponsored College Saving Accounts based on stock portfolios. The rules surrounding their use and the withdrawal of funds vary from state to state. You will need to check on your individual plan requirements regarding what the funds can be used for. It is generally the case that the funds can only be used at accredited degree-granting institutions, or Title IV institutions. This means that if a student is not registered at their Home Institution and/or that Institution will not work with AFOW on Financial Aid, then a student cannot use their 529 Plan to pay for their Study Abroad experience. However, the parent/529 contributor can withdraw funds from the 529 Plan at any time, for any reason, but certain tax penalties apply.

Financial Aid Payments

What Financial Aid forms do I need to turn in to AFOW and when?
If you are receiving financial aid of any kind then you must turn in the Financial Aid Disbursement Form and the Consortium Agreement to AFOW no later than your Final Payment Due Date.
What does it mean that my Home Institution is a Direct Bill School?
If your Home Institution has a Direct Bill Agreement on file with AFOW then you may not be responsible for paying AFOW the cost of your program. If your school is Direct Bill then they are billed for your program cost and they will invoice you. You will have to pay the cost of your AFOW Study Abroad Program to your Home Institution and they will forward the funds to us. In some cases the school will require the student to pay certain things, such as the Confirmation Deposit. Your Admissions Counselor will be able to help you determine whether your school is Direct Bill and what you are required to pay anything directly to AFOW.
How do I get my Financial Aid funds to AFOW if they are sent to me after I am abroad?
There are several options that you may wish to consider as alternatives if your money is not disbursed to you before you leave for your Study Abroad experience. Your first option is to speak to the FA Office or Bursar’s Office at your University about getting the check made out to AFOW or your parents and sent to AFOW or your parents. Your second option is to speak with your bank and make sure that someone will be able to deposit the loan check into your bank account in your absence then you can leave a post-dated check for the amount of the payment for someone to send in for you. Your third option is a Temporary Power of Attorney. This form can usually be obtained from your Study Abroad Office and must be notarized. It grants someone (usually a parent) the right to sign your loan check and deposit it in your bank account then write AFOW a check for payment.

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