FAQ about the AIU Study Abroad Program

Financing Your Study Abroad Experience

Here are some answers to some of the most frequently asked questions about financing your study abroad experience.

If you have a question that is not addressed here, we invite you to contact us or call 1.800.255.6839.

Questions about Financing Your Study Abroad Experience

Will my financial aid transfer?
Can I get financial aid or loans from AIU Study Abroad?
Do you offer payment plans?
Can I work while abroad?
When are bills due?
Do you offer any scholarship opportunities?
What are the deadlines for financing?
What type of money should I bring?
What are my payment options?

Will my financial aid transfer?
That depends on:
  • Whether or not your home school is affiliated and their policy on consortium agreements.
  • Your financial aid package.
  • Whether or not the credits you are taking with us are transferring back to your home school.
  • When you are traveling abroad. (Some financial aid will not transfer during the summer because students are generally packaged for Spring and Winter semesters and therefore have used their allotted monies in the terms prior to Summer.)
Students should verify financial aid eligibility with their home institution.
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Can I get financial aid or loans from AIU Study Abroad?
Because we are not an institution, we are unable to provide funding for students. However, we accept any aid that transfers from your home institution.
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Do you offer payment plans?
Yes, we work with you to set up a payment plan that works for you with no interest charges.
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Can I work while abroad?
Do not plan to get a part-time job while you are studying abroad. Immigration regulations dictate that students studying in the UK have enough funds to cover their living expenses while in London.
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When are bills due?
Bills are sent out approximately 10 weeks before the start of your term and are due approximately 5 weeks before you leave for your destination.
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Do you have any scholarship opportunities?
Yes! Click here for a list of scholarship opportunities. University grants or scholarships are based on established criteria as published in the University's catalog and are awarded after verification that the conditions of eligibility have been met.
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What are the deadlines for financing?
Click here for the Financing Timeline.
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What type of money should I bring?
When it comes to exchanging money overseas, the key word is DIVERSIFY. We recommend that you do not rely on only one form of money. In the event that an emergency occurs, you should have as many options as possible. Here are a few of the different options for handling money overseas:

Bank accounts

Shop around! Be sure to ask what services your bank offers and what charges may be associated with transferring money from your home country. If you will be abroad for an extended amount of time and would like to open a bank account, you will need a passport, a student confirmation letter and a confirmation of your local address.

Cash

We recommend that you carry at least $100-$200 in cash with you overseas depending on your study destination. It will cover the cost of transportation from the airport and housing check-in, and still leave you with some money for lunch, etc.

ATM Cards

You can use your ATM card while overseas to draw local currency from your checking/savings account. PLUS and CIRRUS are the primary ATM networks worldwide. Look for their logos on the back of your ATM card. Typically, the exchange rate is better when using your ATM card than it is when exchanging currency. Check with your bank in the States to ensure that your card is appropriate for international use. Also inquire about service charges. To receive a directory of ATM locations, call 800-843-7587 or visit http://www.visa.com.

Credit Cards

Credit cards are widely accepted worldwide and offer the best exchange rates. There is no service charge on credit cards. Visa and MasterCard are the most widely accepted. American Express is not accepted by many merchants. A Eurocard or Access sign signifies the acceptance of MasterCard.

Your credit cards must have your signature on the back, as European retailers will compare your signatures. Please do not expect to use a relative's credit card while in Europe. Retailers may not accept this without permission from the relative, so it is necessary for you to have a credit card bearing your own name.

Traveler's Checks

It is a good idea to travel with some traveler's checks as an alternate form of money. Though traveler's checks have the poorest exchange rate, they provide an excellent backup plan for getting cash in the event you should lose your credit cards or ATM card. Traveler's checks can be exchanged at banks, Bureaux de Change, post offices, hotels, etc., but also be aware that such places will most likely charge a hefty commission for handling your transactions.
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What are my payment options?
Cash/Charge: If you select this option, our Tuition Planner will review the program costs and payment due date with you.

Payment Plan: Our interest-free payment plans can be started at any time, but must be paid in full by the month you return from your study abroad program.

Financial Aid: If you are receiving Financial Aid (grants, loans, scholarships) from your home school and would like to determine if it will transfer to AIU Study Abroad, please contact our Tuition Planner for assistance.
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American InterContinental University Study Abroad Programs
3150 West Higgins Road, Suite 150 · Hoffman Estates, IL 60169 · ph: 1.800.255.6839 · fx: 1.847.885.8422
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