Financial Aid Workshop

This afternoon I went to the mandatory study abroad financial workshop. We discussed: financial aid, direct deposit requirements, and insurance, and were given two forms: a financial statement and a travel grant approval form.

I was never very good with numbers, but the financial aid workshop seemed to put things into simpler terms for me. For instance, they informed me that my FAFSA and financial aid for UNCG will be easily transferred to pay for anything required by my host institution. Refund checks will be deposited into our student accounts in early January, and loans can be adjusted accordingly. The only thing I have to worry about paying directly to Nara is room and board, which my dad and I already figured out will be affordable based on my current financial aid.

The International Programs Center (IPC) requires that we set up a direct deposit for all refund checks and financial aid, and suggested that we consider appointing a Power of Attorney during our time abroad in case someone back home needs to sign any forms for us in our absence. Luckily, I already have a direct deposit set up.

Insurance (for better or for worse) is provided through the IPC. They get a special, discounted rate thanks to a contract they share with HTH Worldwide. To protect me during my entire stay abroad, they require me to buy this insurance through them. Not to worry though- it's only $203 in total and will be added onto my Spring 2011 bill automatically. I still have to waive the UNCG insurance, however, which I have to do every year anyway. Once I am registered by the IPC with HTH Worldwide, the company will send me my account information along with an insurance card, proof of enrollment and what they cover.

At the end of the session, I was given my financial statement, which says the following:
 
Tuition: You will be required to pay UNCG tuition and fees as determined by your current residency status (out of state) and level (undergraduate)

Housing and Meals: The terms of your program require you to pay your housing and meal costs to the host school based on their rates (Nara's website lists these costs)

Insurance: You will be billed for the cost of mandatory international health coverage on your UNCG student account. The cost for your insurance coverage will be: $203.00

Payment Deadlines: Charges associated with your study abroad program billed to your UNCG student account will be due in accordance with the UNCG Cashier's Office payment deadlines and procedures. Students will be notified of their student account bill via email by the Cashier's office. Students have an obligation to check their balance due via UNCGenie and to notify IPC of any discrepancies. All costs are subject to change due to legislative action.

Also, it was mentioned to me that I should get a letter from the financial aid office stating that I have the appropriate funds needed to study abroad in case my Visa application requires it (which I am sure it does.)

And the best part of this entire workshop? I discovered the travel grant awarded to me by the Lloyd International Honors College is for a whopping $1,300.00. How cool is that?! That definitely covers air fare at the very least.

On Monday I will make up my academic workshop that I missed so stay tuned for that update.

じゃ！
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