ISA FUNDING 101 What is the International Summer Award? The - - PowerPoint PPT Presentation

ISA FUNDING 101

What is the International Summer Award?

¨ The International Summer Award (ISA) was created

to support Yale College students who receive financial aid during the academic year to participate in at least one international experience.

¨ The ISA provides a percentage of the program

budget, based on the student's need for financial aid in 2016-2017.

¨ Students participating in an ISA eligible program

may be eligible for ISA funding.

¨ The maximum amount of ISA funding will not

exceed $10,500.

Who pays for the ISA?

¨ Each year, ISAs are paid by Yale College and

through the generosity of donor funds.

¨ Each ISA recipient is required to submit a report

about their experience, and to thank the donors who helped fund this experience.

¨ In summer 2016, 352 students received the ISA

and nearly $2.7 million dollars was spent in ISA funding.

Who is eligible for an ISA?

¨ Generally freshmen, sophomores and juniors who have

not received an ISA before. They must have received Yale Scholarship in the preceding award year (with the exception of Light Fellows) and plan to attend an approved program that is four weeks or longer. Full eligibility criteria can be found here http://www.yale.edu/yalecollege/international/funding/isa /eligibility.html, including the Leave of Absence policy.

¨ The ISA does not support independent projects.

How do I check my eligibility?

¨ Students who receive Yale financial aid can

find out what their percentage award will be on the Student Information System: www.yale.edu/sis.

¤ Log in. ¤ Go to the Financial Aid Menu. ¤ Click on the International Summer Award

Calculator at the bottom.

What programs are ISA eligible?

¨

Eligible study abroad programs must be on the approved list, and must be at least 4 weeks in duration.

¨

Students receiving ISA funding to support study abroad must also be receiving academic credit for their experience.

¨

Eligible programs include Yale Summer Session courses abroad, Yale in London, Global Summer Program, and designated non-Yale study abroad programs.

¨ Eligible internship

programs must be Yale-coordinated, and must be at least 8 weeks in duration.

¨ Eligible internships

are listed in OCS’ Symplicity database.

Study Abroad Internships

What is the program cost?

¨2016 budgets are available on

the website, and 2017 budgets will be posted by mid-March, so students can use those to estimate program costs.

Please Note:

¨ A student’s total scholarships, fellowships, and

salary cannot exceed the total program budget, just like financial aid for the academic year.

¨ If a student’s combined summer scholarships,

fellowships, and salary exceed the program budget, the ISA would be adjusted.

How do I apply for the ISA?

¨ Please note that there is an ISA

application which is separate from your program application.

¨ The ISA application opens on February 1,

and you can access the application by going to www.yale.edu/isa and clicking “Apply for the ISA”.

¨ The ISA application deadline is May 1.

A Note for International Students

¨ International students must complete certain

forms at the International Tax Office before receiving the ISA.

¨ If you have not already done so, please make

an appointment at Yale's International Tax Office.

¨ It is best to complete these documents as

early as possible to prevent delays in receiving your ISA funding.

Apply Through the ISA Website

funding.yale.edu/types-funding/application-process

ISA Funding Example

¨ In the 2015-2016 award year Emily is considering several

ISA options. She has 70% eligibility. The three programs she is considering below are 8 weeks long.

What does the shortfall mean?

¨ Since Emily has 70% ISA eligibility, she will be

responsible for a portion of the cost. Students who are short a portion of the program cost will need to pay out

• f pocket for that expense.

¨ Students will be responsible for covering their Summer

Income Contribution.

¨ We recommend creating a plan to raise the amount you

need through self-funding options, like taking advantage

• f Yale employment, holding a fundraiser, or asking

friends and family to help. We find students who do ask friends and family for financial assistance have the most success when they treat their request like a presentation: go in with all the facts, show them how you will benefit, and be able to articulate specifically what you’re asking them for.

Can I borrow to offset the cost of abroad expenses?

¨ Students participating in Yale

Summer Session or Yale in London may be able to borrow to cover any gap in their program costs, or to cover New Haven room and board

• expenses. Please contact Financial

Aid for details on eligibility and for the application.

When and how are funds received?

¨ Students can expect their funds in early May. ¨ If you participate in Yale in London or Yale Summer Session you

will be billed through your Yale Student Account.

¤ The ISA will be credited to your student account to offset the program

charges.

¤ To view the status of your program charges and ISA funds please

check your Account History or eBill-ePay.

¨ All other students will receive checks which can be picked up at the

Cashier’s office. You will receive an email from refund@yale.edu as soon as the check is available. In the unlikely event you’ve left campus before the funds are available, please respond to the email from refund@yale.edu and ask them to mail the check to a US address. Then you will need to respond to the email to authorize the mailing of the check.

What if fees are due before I get my ISA payment?

¨ Program deposits and early airfare fees

are the responsibility of the student. We may be able to provide written confirmation of your percentage eligibility

• nce accepted to the program, and some

programs will reduce or postpone the required deposit with that documentation. We are unable to advance funds to a student under any circumstances.

By accepting the ISA, you agree to the following terms:

¨ If a student’s plans change and s/he is no longer eligible

for the ISA, then s/he are required to return any ISA funding that s/he may have already received.

¨ Students must use the ISA only for approved expenses. If

students withdraw or fail to complete the program, that student will be required to return all or part of the funds. Likewise, federal funds received for summer programs may also have to be returned in accordance with federal regulations.

By accepting the ISA, you agree to the following terms:

¨

Upon completion of my time abroad, all ISA recipients must submit a report about their experience that may be sent to donors who helped to fund their experience.

¨

Failure to submit the ISA report by the September 1st deadline may result in being asked to return the ISA funds.

¨

Failure to submit the ISA report by the deadline may affect your competitiveness for other study, internship, volunteer, research, or fellowship opportunities administered through the Center for International and Professional Experience.

¨

Students using ISA funding to participate in a non-Yale summer study abroad program must earn Yale credit. This means that students must earn the US equivalent of a C- or greater in my courses abroad.

Questions? Thank you!

http://funding.yale.edu/isa MyCIPE@yale.edu