Financials

This page contains instructions on how to create a program budget, how to set and charge your students a program fee and deposit, and information related to how students receive financial aid for education abroad at UT Austin. Please note: In order to create equity for all students at UT Austin to study abroad, Education Abroad requires all programs to meet minimum requirements to be financial aid eligible. 

Budgets are submitted to Office of Scholarships and Financial Aid through MyAbroad portal once the roster has been added and the students log in to MyAbroad to be cleared by Dean of Students and start the process. Budgets can only be submitted by Education Abroad so coordination in advance is highly important.

Updates for 2021

UT Austin has announced changes to the spring 2021 academic calendar that impact Maymester programs.  For 2021, Maymester courses will fall under Summer (not Spring) term. 

      • Undergraduate students who register for 12 semester credits in the Spring 2021 semester will not pay additional tuition to register for a Maymester course.  As Spring registration has begun, please ensure that you to communicate to students to register for a minimum of 12 hours for on-campus/virtual classes in order to maintain full-time status and also to take advantage of the tuition benefit.  Students will then enroll in your Maymester course during Summer registration and the tuition will automatically be waived.

      • To mitigate financial impact on students, UT will not require Maymester students to adhere to the standard 6 credit summer enrollment requirement to be eligible for summer institutional financial aid (including loan programs).  Federal regulations still require students to be enrolled in six credits over the summer to access federal financial aid.   

Student Financial Responsibility

Education Abroad recommend that departments develop a Financial Responsibility Policy to clearly communicate the payment deadlines and consequences to all applicants of the education abroad program. Here is an Download example

of Education Abroad's Financial Responsibility Policy for Maymesters and here is an Download example of the Financial Responsibility Policy for Summer. Please note that this is an example, your department will need to customize your policy to fit your program's payment deadlines.


Timelines and Checklist

  • Please see this Download checklist for the steps your department needs to complete in order for Education Abroad to submit budgets. 
  • Please see the budget timeline of when Education Abroad submits budgets to OSFA. (Please note that the timeline for Maymester budgets has changed for 2021).

 

Budget Template

The program line items of the program budget are the following:

  • Application fee: The Texas Global application fee is $75 which is a one-time fee charged to the students admitted to the program

  • Tuition: (Maymester programs are flat-rate tuition, please see note below)

  • Reciprocal Exchange Fee: (For exchange programs only; $500)

  • Affiliated Studies Fee: (For affiliate programs only; $600)
  • Program Fee:

  • Books and Materials:

  • Food:

  • Airfare:

  • Local Transportation:

  • Personal Items:

  • Insurance & Health Related Fees: Overseas Insurance is part of the budget and is $19/week

  • Passport: The cost of obtaining a passport is $158

  • Visa: 

The following worksheets are examples of how the budget would be created for a Download Maymester

and Download Summer/Semester long programs. This is also a useful tool to customize to your program and explain the detailed cost of the program to students.

 

MyAbroad Portal

The Budget on the program page (under estimated costs) in MyAbroad Portal is the budget that will be submitted to Office of Financial Aid and Scholarship. Before sending the student participant roster to Erin Achterhof, please double check the budget to ensure that everything is up to date.

 

A Few Things to Note:

  • Overseas Insurance is part of the budget and is $19/week and due ten days before departure.

  • For Maymester programs, due to flat-rate tuition, students typically do not pay additional tuition for the program unless they are graduate students, or undergraduate students who are under 12 credit hours for the Spring semester.

  • For Summer programs, you can use the UT Tuition tool to see how tuition is calculated : https://tuition.utexas.edu/. Links to an external site.

 

Financial Aid & Scholarships
Link to Financial Aid & Scholarships






Please see our page on the financial aid process and scholarship opportunities for students:

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