Financing Study Abroad
 

	The U.S. Department of Education has permitted schools to release federal aid for payment toward study abroad programs.  The program you are choosing must be approved for credit by Monroe Community College and apply toward your academic degree.  The federal law states that aid may cover all “reasonable” costs for a study abroad program, which can include: round-trip transportation, tuition/fees for the program, living costs, passport/visa fees, and health insurance.
	For most students interested in participating in a study abroad program, a contract needs to be established between Monroe Community College and the host institution to receive financial aid to help cover the costs of the program. The consortium agreement is the document that establishes the contract between the two schools.
What steps should I take?:
Be enrolled in a degree program at MCC to receive federal and/or state aid. Be enrolled for 12 credits hours while you are receiving aid. Obtain approval from MCC that the credit earned abroad is transferable back and applicable to your MCC degree. Complete a FAFSA form (Free Application for Federal Student Aid): www.fafsa.ed.gov Obtain and complete a consortium agreement form from the Financial Aid Office. Research scholarship opportunities via the web: International Service and Travel Center: www.istc.umn.edu (click on funding & scholarships).