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Indiana University

Financial Aid and Non-IU Programs

IU scholarships, grants, and loans may be applicable to non-IU program costs with some exceptions. Please carefully check these exceptions before you commit to a program. IU financial aid may be applied only if 1) you are enrolled for full-time study while abroad; 2) you have a GPA of at least 2.5 and no semester less than 2.00; AND 3) your courses will be accepted as transfer credit toward your degree requirements (major, minor, distributional or required electives). See below, for information on national scholarships and other sources of financial assistance.

Please note that credits earned on non-IU programs are considered transfer credits and, therefore, will not count toward the Finish in Four eligibility requirements.

National Scholarships and Federal Loans or Grants

Students who wish to continue receiving federal loans or grants while at a site where IU does not have an overseas study program MUST be enrolled at IU in a special course (OVST-Y 496), following the directions below, during their absence.

Students who do not receive federal aid but receive private or IU departmental or institutional scholarships or grants can continue to receive these if the terms of the particular scholarships/grants permit it, and if they qualify to be enrolled in OVST-Y 498 and sign a contract attesting to the parameters that govern financial aid portability at IU.

Kelley School of Business undergraduate scholarship recipients should contact Kelley School of Business Manager of Undergraduate Scholarships to determine their eligibility for funding while on a non-IU overseas study program.

Students who do not plan to use any financial aid will be enrolled in OVST-Y 499.

To verify your financial aid award status, see OneStart.

Financial Aid

Most IU financial aid may be applied to non-IU programs but there are exceptions. Students should verify the transferability of specific scholarships with their home campus financial aid office.

1) Eligibility for OVST-Y 496
  1. To qualify for OVST-Y 496: Study Abroad/Non-IU Program, students MUST be enrolled full-time overseas and have endorsements from their department and the Office of Overseas Study based solely on academic need.

  2. The credits MUST satisfy a student’s degree requirements (major, minor, distributional, required electives, etc.). A program of elective credits abroad, above and beyond the minimum credits required for a degree program, does not qualify a student for enrollment in Y496.

  3. Students with a cumulative GPA of less than 2.5 or any semester GPA less than 2.00 are not eligible for Y496.

  4. The Y496 process cannot be initiated after your program abroad begins.

  5. Credit from your program must be transferred within six months of the termination of the program otherwise all financial aid will need to be repaid and/or future financial aid will be cancelled. The transferred credit must show that you were enrolled full-time while abroad.

2) Eligibility for OVST-Y 498
  1. To qualify for OVST-Y 498: Study Abroad/Non-IU Program, students must be registered in a credit-bearing program that has been approved by Indiana University.

  2. Students must meet the enrollment expectations of their scholarship or grant provider.

  3. Students must have a cumulative GPA of at least 2.0.

  4. Credit from the program must be transferred within six months of the termination of the program otherwise all financial aid will need to be repaid and/or future financial aid will be cancelled.

3) Eligibility for OVST-Y 499
  1. To qualify for OVST-Y 499: Study Abroad/Non-IU Program, students must be registered in a credit-bearing program that has been approved by Indiana University.

  2. The credits must satisfy a student's degree requirements (major, minor, distributional, required electives, etc.). A program of elective credits abroad, above and beyond the minimum credits required for a degree program, does not qualify a student for enrollment in Y499.

Procedure
  1. Visit Overseas Study to discuss whether you may use your financial aid abroad. Bring a detailed description of your program.

  2. If approved, complete the proper documentation by November 15 for spring programs and by April 15 for summer and fall programs.

Study abroad is like spring training for this century. It helps you develop the fundamentals, the teamwork, and the determination to succeed."

-Hillary Rodham Clinton, U.S. Secretary of State