If you receive financial aid, your award will be applied first to your Middlebury tuition bill. If your award covers more than the tuition, the excess will be available to you after the semester begins. Year-long students receive this refund in two equal disbursements; one each semester. However, to avoid delays we strongly recommend you arrange through Student Financial Services before leaving campus to have any refund deposited directly into your bank account (strongly preferred) or forwarded to someone in the U.S. who can deposit the check in a U.S. bank account from which you can draw with your ATM card (this will delay your getting the money). Cashing a check abroad that is drawn on a U.S. account will take several months to clear and is not advisable. Even if you work on campus and already receive your paycheck by direct deposit, you need to set up a separate direct deposit for your refund.
Working out the financial aid arrangements for studying abroad requires more time, paperwork, and follow-up than staying at Middlebury. You need to be especially diligent in seeing that things are done in a timely manner. You must sign and return loan promissory notes immediately upon receipt to ensure that loan funds arrive on time. Perkins Loan funds will not be disbursed to your account until your signed promissory note has been received by Student Financial Services. Direct Loan funds (student or parent) will not be disbursed until your Direct Loan Master Promissory Note has been received by Student Financial Services.
Given that financial aid funds will not be made available to you until you have already been required to fulfill some financial obligations (plane ticket, rent, damage deposit, visa fee, and miscellaneous personal expenses), we strongly recommend that you take enough funds with you to cover a month or two of living expenses, regardless of how much aid you may be due to receive. If you are eligible for a refund, there may be unavoidable delays in getting aid monies credited and refunded to you. Federal regulations require that enrollment verification must happen before any funds can be refunded to you. Furthermore, your aid check, once received, can take many weeks to clear if you open a local bank account. Throughout the year, try to follow a budget that will allow you to reach the end of your stay without running short of money.
Student Financial Services is open and its phone lines are staffed Monday-Friday 8:15–5:00 P.M. Please feel free to call 802.443.5158 with questions or to make an appointment. You may also use their fax number: 802.443.2065; or email: firstname.lastname@example.org. Alternately, you may write to:
Student Financial Services
Middlebury, VT 05753–6003
Students from other Colleges and Universities
Students from other institutions are generally able to transfer federal aid and should contact their home financial aid and/or study abroad office to ascertain whether they are eligible to receive state or institutional aid. International Programs is able to complete consortium agreements on behalf of these students.