The most common question MICA students ask about studying abroad, aside from program selection and academics, is “How do I fund my study abroad experience?” Well, the answer is simple – through the MICA Home School Tuition Policy, which covers existing financial aid and scholarship opportunities.
Under MICA’s Home School Tuition Policy, institutional merit and need-based and federal financial aid through FAFSA is portable for semester study abroad. With the exception of the federal Work Study Grant, this means that pretty much all of a student’s financial aid award-types can be used to pay for the cost of their study abroad experience.
Students who do not already receive financial aid should consult with MICA's Financial Aid office to review their options. The Financial Aid office can help you to complete and submit the federal "FAFSA" form in order to apply for financial aid.
To provide further clarity, here is a breakdown of how study abroad is invoiced – keep in mind, you will receive 2 invoices: 1 from MICA and 1 from the program you select:
Invoice no. 1: Prepared by the MICA Office of Student Accounts
Assuming that the student has no prior outstanding charges on their student account, the following breakdown of study abroad-related charges apply. All students must be in good financial standing by the end of the semester in which they applied. Good financial standing is defined as not owing MICA more than $500.
If a student is not in good financial standing during the semester in which they are applying to study abroad, they are encouraged to discuss payment options through the Office of Student Accounts to reduce the amount owed. Failure to meet this objective will jeopardize a student’s ability to go abroad.
Here’s a breakdown of how students will be billed for their study abroad program costs:
· The cost of MICA’s tuition paid directly to MICA
· Any nominal, outstanding amounts owed from the current or prior semester (if any)
Students will not be billed the MICA student activities and technology fees during their semester abroad.
Invoice no. 2: Sent to the student directly from their selected program provider or exchange program
Since students pay MICA’s home school tuition amount, and are billed directly by MICA’s Office of Student Accounts, they will receive a 2nd invoice from their respective program. The following fees are often associated with this 2nd invoice:
· A non-refundable deposit to secure a place in the program
· Non-tuition program fees
o Room and board
o Programming fees, i.e. studio access, technology use, and related program activities and excursions where applicable
Additional Costs that Students Should Consider
Aside from the aforementioned fees, students are responsible for the following out-of-pocket fees:
· Passport, visa, residency fees
· Books, course supplies
· Local transportation and travel
· Communication tools, mobile subscriptions
Your MICA Financial Aid Award Package and Seeking Scholarships for Study Abroad
The Office of International Education requires that students complete a study abroad budget form along with their application. During the application process, students will have an opportunity to quantify the various costs associated with their future study abroad experience on paper, and to discuss them with their financial aid adviser.
The question students should be asking during this meeting might include "How does study abroad affect my MICA financial aid award package", and "If the cost of study abroad exceeds my budgeted amount to attend MICA, what other options do I have?" To answer the 2nd question, keep reading below to learn about scholarship opportunities.
In addition to institutional and federal financial aid resources, we urge you to explore the sections below on the various forms of scholarship funds available to students specifically for study abroad. The Office of International Education encourages all students to take advantage of these opportunities to help make study abroad affordable.