Presentation on theme: "ISA FUNDING 101. What is the International Summer Award? The International Summer Award (ISA) was created to support Yale College students who receive."— Presentation transcript:
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 2014- 2015. 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 2014, 421students received the ISA and nearly $3.5 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/fun ding/isa/eligibility.html, including the Leave of Absence policy. http://www.yale.edu/yalecollege/international/fun ding/isa/eligibility.html 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.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 AbroadInternships
What is the program cost? 2014 budgets are available on the website, and 2015 budgets will be posted soon 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 15, and you can access the application by going to www.yale.edu/isa and clicking “Apply for the ISA”. www.yale.edu/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.Yale's International Tax Office It is best to complete these documents as early as possible to prevent delays in receiving your ISA funding.
ISA Funding Example In the 2014-2015 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 of 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 of 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 email@example.com 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 firstname.lastname@example.org 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 email@example.com
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 once 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.