Financial Aid

This page is meant to inform you about what scholarships, financial aid, student loans, and other resources are available to you or your student.

Most people find that with the proper planning and program consideration, an international program is affordable and available.

Please note: all IEP-specific scholarships, grants and discounts are only applicable for participants of IEP programs.

Scholarships

Please view the scholarships listed below.  Before submitting an application, be sure to review eligibility and application requirements and deadlines.  For additional international scholarship opportunities, please visit the Alumni page.

IEP Correspondent Scholarship

This scholarship is meant to create and assist engaged study, internship, and volunteer participants abroad.

  • Award Amount: $200-$500
  • Eligibility: Participants of an IEP semester, summer, internship, or volunteer program of at least 2 weeks in length.
  • Application Requirements: Submit the IEP Student Correspondent Scholarship Application with the IEP application and deposit. IEP Student Correspondent Scholarship recipients will be expected to positively engage in their host culture and share their experiences by blogging about them.
  • Disbursement: 50% of the scholarship amount will be awarded to the recipient prior to the program departure and 50% of the scholarship award amount will be disbursed within 2 weeks of the program completion.
  • Deadlines: Fall: June 15       Spring:November 15         Summer: April 15

 

IEP Early Applicant Scholarship

IEP would like to encourage and reward students to apply early for a semester or summer academic study abroad program. This award is not available for spring break, internship or volunteer programs.

  • Award Amount: $50
  • Eligibility: Semester or Summer Study Abroad Students
  • Application Requirements: Submit a completed IEP application for a semester or summer study abroad program and the $200 deposit 6-12 months before the deadline. Write “Early Applicant” at the top of the application to be awarded this scholarship.
  • Disbursement: The $50 scholarship will be deducted from the final invoice. If full payment is received 6-12 months before the start of the program, a refund check will be issued to the individual who made the payment. Students are subject to all IEP refund and program cost policies.
  • Deadline: 6-12 months prior to the start of your study abroad program

 

IEP Heritage Scholarship

Participants applying to study abroad to a destination of their family heritage can apply for a heritage scholarship. Applicants must submit a copy of the passport or national identification card from a parent or grandparent. Award amounts are as follows:

  • Short-term Volunteer and Intern placements under 4 months: $250.00
  • Volunteer and Intern placements longer than 4 months: $500
  • Semester Programs: $1,000
  • Application Requirements: Submit the IEP Heritage Scholarship Form with the IEP application and deposit.
  • Deadlines: Fall: June 15       Spring:November 15         Summer: April 15

 

IEP Leadership Scholarship

Available to campus leaders and members of student and social organizations, the scholarship is provided to enhance the awareness of a participant's experience to an engaged audience on campus.

  • Award amount: $200-$500
  • Eligibility: Student and community leaders applying for the Semester, Summer, Internship or Volunteer programs
  • Must be a leader or officer of a campus, community or social organization
  • Recipients are expected to share their experiences and increased global awareness with his/her organization through travel journals on http://iep.goabroad.net and a presentation to his/her organization
  • Application Requirements: Enroll in an IEP Semester, Summer, Internship or Volunteer program and communicate experience to the member organization before, during, and after the program. 
  • Submit the IEP Leadership Scholarship Form with the IEP application and deposit.
  • Deadlines: Fall: June 15       Spring:November 15         Summer: April 15

 

IEP Program Discounts

  • Bring-a-Friend: $400 off of a Semester or Summer Study Program/$200 off of an Intern or Volunteer Program
  • IEP Alumni: $400 off of a Semester or Summer Study Program/$200 off of an Intern or Volunteer Program

 

Golden Key International Honour Society

Golden Key provides academic and scholarship opportunities for students who rank within the top 15% academically at their home institution.

Eligibility: Student members in Australia, Canada and the United States, who are currently enrolled in a full-time or part-time undergraduate course of study at an accredited four-year college or university and have been accepted to an IEP program.  Must be a member of Golden Key as of the application deadline.

Discounts are automatically assessed for all Golden Members participating in IEP programs in the following amounts:

  • $550 for a semester-long study program
  • $250 for any summer, winter, intern or volunteer abroad program

In order to further support these students, IEP is also offering 10 scholarships to Golden Key members for an IEP semester-long study program.

Additionally, IEP and Golden Key have teamed up to provide Golden Key members with programs to satisfy membership goals of academic achievement and service.  View the GK members only programs here.

Please review the Golden Key website for specific eligibility requirements.

 

Benjamin A. Gilman International Scholarship

This scholarship provides awards for U.S. undergraduate students who are receiving federal Pell Grant funding at a 2-year or 4-year college or university to participate in study abroad programs worldwide. The U.S. Department of State Bureau of Educational and Cultural Affairs sponsor the Gilman scholarship.

  • Award Amount: up to $5,000
  • Eligibility: Semester or academic year study abroad students who currently receive or will be receiving a Pell Grant at the time of the study abroad program.
  • Application Requirements: Students must submit a personal statement essay and propose a unique follow-up project to be completed upon returning from the program. Applicants should meet with the study abroad office and financial aid office prior to submitting an application.
  • Deadlines: Spring 2009: October 7, 2008; Fall 2009: April, 2009; Spring and Summer 2010: October 6, 2009; Fall 2010: April 2010 (exact date tba - review website here)

Please review the website for specific eligibility and application requirements and deadlines.

 

Phi Kappa Phi Study Abroad Scholarship

Phi Kappa Phi Study Abroad Grants are designed to help support undergraduates as they seek knowledge and experience in their academic fields by studying abroad.

  • Award Amount: $1,000
  • Eligibility: All applicants must attend an institution with a Phi Kappa Phi chapter, have a minimum of 30 semester hours (or equivalent) and no more than 90 semester hours (or equivalent) by the deadline, have a grade point average of 3.5 or higher on a 4.0 scale; have at least two semesters left at the home institution after the completion of your study abroad program and have been accepted into an accredited study abroad program before the deadline.
  • Application Requirements: Complete the application and provide academic letters of recommendation.
  • Deadline: February

Please review the website for specific eligibility and application requirements and deadlines.

 

Additional Scholarship Resources

 

Applying Financial Aid

IEP accepts all federal, state and private grants, loans, and scholarships when applicable. IEP is not able to make decisions about what financial aid is available to an applicant. Each individual must set up an appointment with his or her financial aid office and discuss what types of aid are available for a study, internship or volunteer program and how the funds will be disbursed.

Follow these steps to apply your financial aid:

  • 1) Meet with your financial aid office and be informed about what types of aid you have and what types of aid your institution will allow you to apply to your program.
  • 2) Inform IEP that you plan to use financial aid. IEP will complete the first section of the Financial Aid Verification Form and send it to you via fax or mail to complete.
  • 3) Take the Financial Aid Verification Form to your financial aid office and complete the applicant/student section.
  • 4) Submit the completed form to IEP. IEP will verify the information with your financial aid office.
  • 5) Some institutions require that you meet with the study abroad office to ensure the disbursement of financial aid. Please visit your home institution’s study abroad office to check on your campus’ procedures.

Please Note: By signing the Financial Aid Verification Form as well as the Code of Conduct, the applicant is stating that they will be responsible to make the full program payment prior to departure. IEP is not responsible for financial aid that is not disbursed by the institution.

Student Loans

Many participants feel that taking out a student loan is beneficial to make a program payment or provide a financial cushion for living expenses and spending money while overseas. Below are some links to student loan providers who may be able to help you finance a program. The financial aid office in your home campus may have more specific advice as it relates to student loans.

 

Preparing Financially

Payment Plans

IEP will work with individuals to set up an interest-free payment plan for his or her particular program. The benefit of a payment plan is that it allows the applicant to pay in smaller installments rather than all at one time. However, full program payment is still due prior to departure on any program. Please contact IEP to set up your individual payment plan.

Budget

Never underestimate how much you can save if you set a budget and stick to it! Figure out what your monthly expenses are and then set aside a certain percentage of your disposable income each paycheck for your program. Saving to pay for your own program gives you a sense of “ownership” and pride in working to earn an experience that you will remember for the rest of your life.

Credit Cards

Most international destinations provide ample access to ATM machines and many stores and businesses accept major credit cards (Visa and Mastercard). For this reason, IEP recommends that program participants bring a debit card to withdraw cash locally for day-to-day expenses and expenditures and a major credit card for additional financial security in the case of an emergency or a pinch. Please review the international financing fees with your bank and credit card before departure.

Need Additional Funds? Get Creative!

Send a support letter to people who traditionally give you a gift during a holiday or birthday and ask that they contribute to sending you abroad instead! Or team up with your study abroad office, the International Student Union, sorority or fraternity on your campus and throw an internationally focused event with a cover charge. You can be engaging in other cultures before you even board a plane!

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