Expert: Les Thomas - 12/16/2011

Question
Hi,

I'm not sure if you can help me but I was wondering about the process of receiving financial aid for studying abroad. I'm really interested in a two week trip my school is offering. I know that I should be able to pay for it with more student loans but I was wondering how to apply for those loans to make sure the money will pay for what I need. Would I just apply for the FAFSA for the spring/summer semesters? Or should I look to get a private loan? The cost of the trip is $2,200 not including tuition and airfare. If I do get a student loan to pay for it, is it possible for the money to be given directly to me so that I can pay for the plane ticket? Or would it have to be paid to the school and then paid to me in a refund?  

I'm sorry if this is outside of your knowledge but I'm really confused about this.

Thanks,
Lacey

Answer
Lacey,

Thanks for giving me the opportunity to answer your question.  First... you should check with the College you are attending to see what type of programs they may have that support this 2-week trip.  Most Colleges have some sort of aid program established for situations like these.

But probably more importantly... if I were you, I would think about this a little bit.  You're looking at a 2-week trip that is going to cost $2,200 and that does not include tuition and airfare?  The big question you need to ask is, "What exactly are you going to learn in this 2-week time period, in a foreign country that is going to end up costing you about $4,000 to $5,000 more than your normal cost of attendance - that you seriously cannot learn right there at your College here in the US?"

If it were me... I'd take a good long look at the value of what I would be getting versus maybe going to work at a part-time job somewhere, and making a few bucks - instead of going further in debt for $4,000 to $5,000 simply for a 2-week trip.

The choice is obviously your's to make... and I know this is probably not the answer you were looking for... but I'd really do a little more soul searching to see if this "special trip" is really something necessary.

I hope this helps.