It is not uncommon for universities to actually disburse a loan after the program has already started. When students are accepted into a CIS Abroad program, we will supply them with a financial aid form that your home university should complete and then send in to CIS Abroad.
This form will tell us not only how much aid the student is receiving, but also when the aid will be disbursed and to whom. If the aid will be disbursed to the student after they have left, parents or guardians may be responsible for depositing the check and forwarding it to CIS Abroad. In order to have the authority to do so, we will include a “Power of Attorney” form in the acceptance packet.
If financial aid does not cover the full program amount, students will be responsible for the remainder by the final payment deadline.
All students, including those receiving financial aid, are responsible for paying the program confirmation deposit ($500 for semester programs and $300 for summer, Maymester or January programs).
For more information, check out our financial aid resources here.