Financial Planning for Study Abroad Courses:
Budget Considerations, Cost Center Setup, Student Financial Aid
I. Budget and Cost Center Setup
In order to ensure course charges are appropriately implemented and that student payments are credited to the appropriate account, it is important to set up a program budget in advance of any financial activity . Directors should work with their school/college budget manager for this process.
- Set up a program cost center: Complete a Request for New Agency Fund form.
- As you incur expenses for the program, you will be able to request reimbursement according the SU policy for travel and check requests. These forms are available on InSite under the Controller’s section.
- Be sure to keep accurate records of your expenses before, during and after your program so that you can request reimbursement. It is suggested that you keep a written record of the small expenses you incur while on-site for which you may not have receipts (ex. Tips, taxi fares).
II. Student Billing
- Set up student billing fees: Complete the Study Abroad Student Course Billing Fee Request form to declare participants’ program and deposit fees. The signed form must be turned into Gina Lopardo, Director of Education Abroad, by January 15. It will be reviewed and submited to Enrollment Services to set up billing. The collection of program deposits and fees cannot begin until this form is completed and returned to Enrollment Services.
- Inform students that they must pay their program deposit with Student Financial Services and that their SU Student Accounts will be billed for the program fee via course enrollment.
- Once Enrollment Services receives the Billing Request form, the program fee will be attached to the course and the students’ accounts will automatically be charged through course registration. All students must be manually registered into your course.
- The funds collected through the student billing process will be credited to the cost center established for the course.
III. Student Financial Aid Budget
This form is used to calculate the total amount of funds participants will need to consider for financial aid requests. Expense considerations include the program fee, tuition (if applicable), transportation, passport processing, etc. The completed form should be forwarded to Gina Lopardo (EAO). Student Financial Services will use it to determe students' eligibility for aid.
Course Budget Builder