This page contains detailed information about financial aid options and opportunities for study abroad during the January term. If you receive grant aid during the fall and spring terms, be advised that funding for January term (and Summer Session) works differently, and you should read all the information on this page closely. If you have questions after doing so, please reach out to our office for guidance.
You must have a completed 2024-2025 FAFSA on file and must have completed all items on your To Do List in the Student Information System (SIS).
You must be meeting Satisfactory Academic Progress (SAP) standards. If you are on SAP suspension, you will not be awarded financial aid for January Term until you are either meeting the SAP standards or have successfully appealed your SAP status.
You must be enrolled in a January Term course for 3 credit hours AND be enrolled in at least 3 credit hours for the spring 2025 term.
The cost of attendance for January Term study abroad programs include tuition, program fees, airfare, books, personal expenses, local transportation and meals. Program costs for January Term study abroad programs are available on the study abroad program’s budget sheet at http://educationabroad.virginia.edu.
All students who have completed the 2024-2025 financial aid application process and have enrolled for a January Term course are automatically considered for financial aid for January Term provided they are also meeting the eligibility requirements listed above. Students are not required to complete a separate financial aid application to be considered for January Term financial aid; however, students who are interested in January Term study abroad financial aid must apply online for a January Term study abroad program through Education Abroad by the October 1, 2024, application deadline. Information regarding January Term study abroad programs is available at http://educationabroad.virginia.edu.
Grants
Grant aid for January term is based on financial need. January Term is not a required term, and while grant funding somewhat limited and is not guaranteed, we prioritize grant funding based a student's financial need.
Please note that the January Term Study Abroad Grant will not exceed the billable costs of a January Term study abroad program. The January Term Travel Grant covers up to $1,900 for non-billable travel costs. To determine the costs of a January Term study abroad program, please refer to the program’s budget sheet at http://educationabroad.virginia.edu.
Loans
SFS will award a student any remaining Direct Loan funds for which that a student is eligible during the 2024-2025 academic aid year. The annual Direct Loan limits are listed on the chart below:
Annual Direct Loan Limits | ||
Academic Level in SIS | Dependent Student | Independent Student (or dependent student whose parent was denied a PLUS Loan |
First Year | $5,500 | $9,500 |
Second Year | $6,500 | $10,500 |
Third Year and above | $7,500 | $12,500 |
To determine the remaining Direct Loan eligibility available for January Term, view the financial aid awarded for 2024-2025 in SIS. Compare the total amount of Direct Loans awarded for 2024-2025 to the limits listed on the above chart. If a student has remaining Direct Loan eligibility, the student will be offered his/her remaining annual eligibility for January Term (up to the cost of attendance).
Once Direct Loan eligibility is exhausted, the only other option for financial aid will be a Direct Parent PLUS loan (for undergraduate dependent students) or a private student loan.
An important note: Students who wish to apply for a private student loan for January Term should use January 2, 2025, through January 11, 2025, as the loan term. This loan term will alert Student Financial Services that the loan should be certified for January term only.
Student Financial Services will begin awarding January Term 2025 study abroad financial aid starting in early October. You'll receive an email notification once we have reviewed their financial aid eligibility. This email will detail how you can view your offer and outlines options for you to cover educational expenses if you are not awarded financial aid or the aid awarded does not cover your January Term study abroad program’s cost of attendance. Notification of financial aid does not imply your acceptance to a study abroad program; however, information regarding financial aid eligibility will be helpful to you in your financial planning and decision making. If you are accepted to a January term study abroad program, you must commit to the program through Education Abroad by October 17, 2024.
If you apply to more than one January Term program, you will have your financial aid eligibility reviewed based on the program with the higher cost of attendance. If you then choose to participate in a program with a lower cost of attendance, your financial aid offer will be adjusted accordingly.
Payment due dates will appear under the “Due Charges” section of your student account in the Student Information System (SIS). Please note that January term study abroad charges will not appear on your student account until after Education Abroad has enrolled you for your January term study abroad program. Information regarding January term study abroad registration is available on the Education Abroad website.
- The scheduled disbursement date for January Term study abroad financial aid is January 3, 2025.
- Students who have been awarded January Term study abroad financial aid and have accepted it in SIS will have pending anticipated aid for January Term on their student account.
- Students whose anticipated aid that covers the billable charges for their January Term study abroad program should not receive a financial hold.
- Students whose anticipated aid does not cover all of the billable charges for their January Term study abroad program are responsible for paying the difference by the due dates specified on their student account.
- Students will not be dropped from their January Term study abroad program for non-payment; however, a financial hold will remain on their account until any past due charges have been paid.
- Please note that payment plans are not available for January Term.
Financial aid awards are based on the cost of attendance for your January Term study abroad program. To determine your out-of-pocket costs, you will need to subtract your January Term financial aid award in SIS from the study abroad program cost of attendance. If applicable, you may pay these costs with your own resources and/or apply for a Direct Parent PLUS Loan (for undergraduate dependent students) or a private student loan.
Example #1
You are a Non-Virginia resident who is attending the January Term study abroad program. Your cost of attendance is $5,800. The billable portion is $4,000. You received the JTerm Study Abroad Scholarship for $4,000 and a JTerm Travel Grant for $1,800. Your cost of attendance is covered by your grants.
Example #2
You are a Virginia resident who is attending the January Term study abroad program. Your cost of attendance is $6,990. The billable portion is $4,365. You did not receive a JTerm Study Abroad Scholarship, a JTerm Direct Subsidized Ln 1, or a JTerm Direct Unsubsidized Ln 1. To cover your cost of attendance, you must either pay the amount with your own resources, and/or apply for a Direct Parent PLUS loan (for undergraduate dependent students) or a private student loan.
To remain eligible for financial aid for January Term 2025, students must be enrolled in a January Term course for 3 credit hours AND be enrolled in at least 3 credit hours for the spring 2025 term. If a student’s enrollment for January term changes and/or a student does not attend at least 3 credit hours for the spring 2025 term, it is the sole responsibility of the student to notify Student Financial Services so that financial aid can be adjusted accordingly. A student will be responsible for repaying any amount of excess aid awarded if aid has disbursed and a student later makes enrollment changes that impact aid eligibility for January Term.