Financialphobia.

Guess who’s back.

Back again.

Mary’s back.

Tell a friend.

Not a lot has changed since the last time we spoke, it’s gotta be said. I’ve applied to a couple of jobs for over the summer. I’ve interviewed for one and I’ve submitted my application for the other so I won’t find out anything further until next week. For the summer, I could use the time to take a couple of classes and work to make some extra spending money.

Financial Aid and Studying Abroad: Top 10 Myths

 

I’ve recently discovered a wonderful website, hosted by NAFSA, the Association of International Educators, which discusses the myths of financial aid for study abroad. Over the years, a lot of false information has been thrown about on the Internet (duh), and this website does an excellent job of breaking it down.

But I’m going to put it in my own words. I’m gonna get on your level.

So for this week, I thought I’d give you the top 10 myths of financial aid for study abroad. Because I’m so generous.

  1. NOBODY UNDERSTANDS ME!

 

  1. I am an independent student and I don’t need nobody (except money. I definitely need that).

 

  1. I’m going to use all the loans.

 

  1. If I go abroad, the financial aid I have now will disappear into the darkness, never to be seen again.

 

  1. I’m going to get the same amount of aid for study abroad that I would for a term at my home university. I won’t have to do any extra work to get extra aid for study abroad.

 

  1. Living in the United States means that there isn’t any additional money for me to study abroad.

 

  1. As long as I’m registered as being a student, I’m not going to have to start repaying my loans and won’t be using the grace period that precedes repayment.

 

  1. Every scholarship I receive is additional money I don’t have to pay out of pocket.

 

  1. I’ll get all of my aid ahead of time so I can pay the deposits before I leave and other fees as soon as I start my study abroad program.

 

  1. My program is cheaper than being at my home school so my parents and I won’t have to pay anything—it will all be covered by financial aid.

 

A big thank you to the people over at NAFSA for putting these ideas out there! Financial aid is stressful enough on its own without adding study abroad to it. Hope these help.

Next week, I’ll have a special edition of financial aid: FAFSA edition because I’ll finally have submitted mine…oops!

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