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2008-2009 Financial Aid
Study Abroad Information
Villanova Law School students who wish to participate in a Study Abroad Program either for summer or part of the regular academic year must first obtain approval from the appropriate administrator: J.D. students must contact the Associate Dean for Academic Affairs, J.D./M.B.A. students enrolling for M.B.A. credits must contact the Director of the J.D./M.B.A. Program and graduate tax students must contact the Director of the Graduate Tax Program. If financial aid is needed to fund the study abroad program, a Study Abroad Information Form must be completed and returned to the Office of Financial Aid so that a consortium agreement between the two institutions can be prepared. All financial aid will be processed by the Villanova Law School Office of Financial Aid.
Summer Study Abroad
The costs for the summer will be determined by the host institution; the costs for the fall/spring term will be determined by Villanova Law School. Federal Stafford Loans will be processed for the summer/fall/spring terms with equal disbursements for each semester as required by federal regulations. If a student's costs for summer are greater than the summer disbursement of the Federal Stafford Loan, additional funds may be borrowed through the Graduate Plus Loan Program or a private alternative loan program. If costs for summer are less than the summer disbursement of the Federal Stafford Loan, it is the student's responsibility to save anything over and above the costs for summer to use for expenses during the regular academic year. The summer costs can be viewed on Novasis.
Study Abroad during the Fall/Spring Term
The costs will be determined by the host institution for attendance at that institution and by Villanova Law School for attendance at this institution. Federal Stafford Loans and Federal Graduate Plus Loans will be processed for the fall/spring semesters and disbursed in two equal disbursements as usual. Any private alternative loan for the fall/spring may be disbursed in unequal disbursements if necessary.
Disbursements
Depending on the lender chosen, there are two possibilities for disbursement of a student’s loan funds for studying abroad:
- Disbursements can come by paper check approximately 30 days before the first day of classes. The Federal Stafford Loan and any private alternative loan will come payable only to the student and sent directly to the student for use in paying for expenses. If a student borrows funds from a Federal Graduate Plus Loan, the paper check will be sent directly to the student but will be made co-payable to the student and Villanova. This will require that the student first endorse the check and then submit the check to Villanova so that it may be deposited into the student’s account. Then Villanova will create a refund for the student. This refund can either be in the form of a paper check or can be directly deposited into the student’s personal bank account if the student has signed up for direct deposit.
- Disbursements can also be by EFT. EFT disbursements can only be requested 13 days before the first day of classes and can only be credited to a student’s account 10 days before the first day of classes. These disbursements are transmitted directly into the student’s Villanova account and then a refund has to be created. This refund can either be in the form of a paper check or can be directly deposited into the student’s personal bank account if the student has signed up for direct deposit.
Whichever method is used, the student must be prepared to cover all costs until the loan funds are received and refunded. It is the student’s responsibility to pay the host institution for the appropriate costs for the study abroad program.
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