If you are a Standard or Split Bill student and plan to use financial aid to pay for your program fees. Please review the following information on paying with financial aid.
STEP 1: WORK WITH YOUR HOME UNIVERSITY
Contact both the study abroad and financial aid offices at your home university about how to use your financial aid to pay for study abroad. Ask which aid may be eligible to use toward study abroad and if there are any other requirements. TEAN can accept any aid that your university determines is eligible to be disbursed to you or directly to TEAN.
Hoping to use VA Benefits? Reach out to your Program Manager to learn how those may be applied to TEAN Programs.
STEP 2: COMPLETE REQUIRED FORMS
TEAN FORMS
Financial Aid Agreement Form (FAA) – This form is completed by you and your home university. The FAA acts as proof of incoming funds and allows you to defer a portion of your payment until your financial aid awards are released, even if that is after your program start date. Note: If your entire program is covered by aid, a down payment is still required to confirm your participation in the program.
1. Download the Financial Aid Agreement
2. Read the information carefully and sign and date the student portion at the bottom
3. Send your signed FAA to your financial aid office and ask them to either send to info@teanabroad.org or return the form to you for upload to your TEAN application.
HOME UNIVERSITY FORMS
Consortium/Contractual Agreement – Your home institution may require a Consortium or Contractual Agreement with TEAN in order for you to use your aid for the program. When you meet with your advisors, ask if this agreement or any other required paperwork must be completed. If so, any agreements can be submitted to HigherEdFinAid@worldstrides.org for completion and return to your home university.
STEP 3: SUBMIT FAA AND PAYMENT BY TEAN PAYMENT DEADLINE
You will be required to submit your FAA and a down payment on or before your TEAN Payment Deadline. Please read the example scenarios below to understand how much will be due and when.
Scenario 1: Your full program cost is covered by financial aid.
By the payment deadline, you must submit a down payment of $500-$2,000, depending on your program term and location. The down payment is the minimum payment required to hold your place in the program and allows TEAN to make financial commitments abroad on your behalf. Find the list of down payment amounts by scrolling down to the bottom of this section. Your remaining deferred program balance is then due to TEAN within 5 business days of your disbursement date as indicated on your FAA. You may submit payment per the options in Step 4.
Scenario 2: A portion of your program cost is covered by financial aid.
By the deadline, you must submit the difference* between your aid amount and the program cost. If the difference between your financial aid amount and your program cost is less than your program’s down payment, you must pay at least the down payment amount. Find the list of down payment amounts by scrolling down to the bottom of this section. Your remaining deferred program balance is then due to TEAN within 5 business days of your disbursement date as indicated on your FAA.
*You may opt into a payment plan to allow you more time to submit payments if the difference between your aid amount and the program cost is greater than the down payment amount. If you require this option, please review and submit the Payment Plan Form. Payment plan details can be found further down this page. Once your aid is disbursed, it is due to TEAN within 5 business days. You may submit payment per the options in Step 4.
Scenario 3: You no longer plan to use financial aid or decide to pay out-of-pocket.
Let us know so we may update your status. You will be responsible for either paying your program cost in full or setting up a payment plan by the payment deadline.
STEP 4: SUBMIT DEFERRED PAYMENT TO TEAN UPON AID DISBURSEMENT
Payment is due to TEAN within 5 business days of the disbursement date listed on your FAA form. If your university has indicated that the funds will be disbursed to you, you will need to then pay TEAN. If you do not see your funds in your account when expected, reach out to your financial aid office. You should also notify TEAN of any delays to avoid late fees. Should your actual aid amount not match the FAA, you are responsible for paying the difference. See the Payment Methods section below for payment options.
Extensions & Important Notes
If you cannot submit the FAA form by the TEAN Payment Deadline, please plan to make the minimum down payment by the deadline and contact us to request an extension on the FAA.
If your financial aid status changes at any time, it is your responsibility to inform TEAN.
Failure to submit required payment by the TEAN Payment Deadline may result in late fees, interest or program ineligibility. If your participation in the program is dependent upon an award that will not be confirmed by the deadline, TEAN recommends enrolling in the optional Withdrawal Protection Plan. Note that not all programs are eligible for the optional Withdrawal Protection Plan. All students who withdraw after the TEAN Payment Deadline are subject to the TEAN Cancellation Policy.
Need help?
Contact your TEAN Program Manager if you have any questions, need alternative options, or cannot meet a deadline.
If you are a Standard or Split Bill student, and the full cost of your program will be covered by financial aid, you must submit a down payment of $500-$2,000 by the payment deadline. The amount depends on your program term and location (please see amounts below).
The down payment is the minimum payment required to hold your place in the program and allows TEAN to make financial commitments abroad on your behalf. Students not using financial aid or not enrolled in a payment plan must pay the full program fee by the deadline.
Down Payments by Program:
- $500 for summer programs (with the exception of specific programs listed below)
- $750 for South Korea E-Sports Program and Fiji: The Scholar Games
- $1,000 for Asia semester programs, Singapore HEX summer program, Australia summer traveling programs and Thailand summer programs
- $2,000 for Australia, Fiji and New Zealand semester programs