Financing Your Experience

W&M Payment Plans

You can use your Virginia 529 plan for semester study abroad programs if you are enrolled in an academically approved institution, registered for study abroad through the Reves Center, and registered as “Study Abroad” in banner.  Your Virginia 529 funds will disburse to your student account at the beginning of the semester, the same as if you were studying at W&M.  If you are participating in an exchange program or a W&M sponsored semester program (LaPlata, Oxford, Montpellier or Sevilla), you will owe the difference between your 529 benefit and your program fee, if applicable.  If you are participating in an assisted enrollment program with an exchange university, directly enrolling into a foreign university or going on a third party provider program, such as CIEE, API, etc., the 529 funds will be refunded to you (refund check or direct deposit through eServices) and you in turn will pay your study abroad institution.  

Neither W&M nor the Virginia 529 office will pay the third party institution directly, and you may have to pay your tuition before you receive your refund.   Refunds are usually processed within the first week of the beginning of class at W&M.  If you are not signed up for direct deposit through eServices, you must submit a Refund Disbursement Form to the Reves Center.  Contact W&M Student Accounts with questions.

Tuition Payment Plan (TPP) can only be used for the W&M tuition exchange programs. TPP can not be applied to any other study abroad option. Students can cancel their contract with TPP for the semester they are abroad and re-enroll for the semester they return to campus.

Veterans Educational Benefits

Veterans educational benefits may be used to cover some of the cost of only some specific study abroad programs given very specific VA benefit requirements. The VA will never pay fees in excess of the standard W&M tuition and tuition-related fees. Always confirm with the Global Education Office (wmabroad@wm.edu) before applying to any W&M program to determine if it is eligible for certification by W&M, and confirm that your academic situation means that study abroad credits will apply toward the fulfillment of your degree requirements.

If you have additional questions about the DVS review and veterans education benefits in general, Carolyn Ward (copied), our Veterans Benefits officer would be the best person to contact. Email: caward01@wm.edu and Phone: (757) 221-2893.

If you are considering non-W&M study abroad programs (including W&M semester assisted enrollment programs), W&M is unable to provide certification for VA benefits. Instead, please contact the study abroad program provider to inquire about the possibility for certification. Please note that host universities or study abroad program providers (eg. CIEE, IES, etc.) may not be eligible to provide certification. Additional information can also be found at the VA website http://benefits.va.gov/BENEFITS/factsheets/education/Post-911_Study_Abroad.pdf    

Program Cost

Studying abroad does not have to be expensive. There are lots of quality, affordable programs.  Students can find programs that cost less than attending William & Mary for a semester or year.  Affordable programs are typically located outside of major cities or in countries where the cost of living is less than the United States.  To identify affordable programs, students should consider their current financial aid award and compare it with study abroad program costs.  GoAbroad.com has a list of the 10 Cheapest Places to Study Abroad.

Funding Chart

This chart helps to explain if your funding can be used to finance study abroad:

Required Documents – available on Reves website and on application/registration portal.  

• “Consortium Agreement” provides information on the tuition, fees and anticipated expenses, including airfare.  This form should be submitted to the Study Abroad Office once students complete the section identifying the program they wish to attend.  It is faxed to the appropriate program and then to W&M Financial Aid.
• “Refund Disbursement Form” allows students to receive any refund check through eRefunds or through the mail.  This is for any financial aid that would be refunded when the student is away from campus.  It should be submitted to the Study Abroad Office and will be sent to Student Accounts.

Disbursement Process-- Disbursements are made no earlier than the start of classes for the regular W&M semester/summer calendar.  For programs beginning after that date, disbursements will occur on the first day of the study abroad program.   Students should be prepared to pay fees, airfare, etc before receiving their financial aid disbursements.

• For W&M-sponsored summer and semester programs: Financial aid is disbursed and transferred to Reves program accounts.

• For all other programs: Financial aid is “refunded” to the student - W&M does not pay third-party providers directly.