The economy continues to take its toll on higher education and we have experienced increasing numbers of students applying for study abroad financial aid over the past several years.
Chicago, IL (PRWEB) April 27, 2011
For the past ten years, IES Abroad, a leading U.S. study abroad provider, has seen enormous increases in both applications and awards for financial aid.
Between the 2000-2001 and 2010-2011 academic years, the number of students receiving aid from IES Abroad has increased 87%, from 885 students in 2000-2001 to 1,659 students in 2010-2011. With this increase in numbers of awards has come an 82% increase in total dollars given, from $1,285,127 in 2000-2001 to $2,323,886 in 2010-2011.
For the 2010-2011 academic year, IES Abroad awarded $2.3 million in financial aid and scholarships to students studying abroad, an increase of 14% over financial aid awarded in 2009-2010. The total included $49,000 for the summer 2010 term, $864,185 for the fall 2010 term, and $1,397,550 for the spring 2011 term.
Year-over-year, a comparison between spring terms in 2010 and 2011 demonstrates the growing financial need of students interested in studying abroad. For the spring 2011 term, IES Abroad saw a 46% increase in applications. For the spring 2010 term, 212 eligible students applied for need-based aid, compared to 310 eligible students for the spring 2011 term. For the spring 2010 term, 189 awards were given, compared to 223 awards for the spring 2011 term, a 41% increase. Finally, the average award for the spring 2010 terms was $1,024, compared to an average award of $1,213 for the spring 2011 term, an 18% increase.
The fall 2009 term saw a total of 186 eligible applications, compared to 222 eligible applications for the fall 2010 term, an increase of 19%. [Final award information for fall 2011 is not yet available.] The average award for fall 2009 was $807, compared to an average award of $1,278 for the fall 2010 term, a 58% increase.
For the upcoming 2011 summer semester, the leading not-for-profit study abroad provider has seen scholarship applications rise by 34% over 2010 summer term applications. In response to this increased number of applications, IES Abroad has awarded a record amount of summer term scholarships totaling $60,000, awarding financial aid to 52% of the need-based scholarship applications it received.
“The economy continues to take its toll on higher education and we have experienced increasing numbers of students applying for study abroad financial aid over the past several years. We decided to meet that need with a significant increase in our scholarship awards,” said Joseph Sevigny, IES Abroad Associate Vice President of Enrollment Management.
“We increased our scholarship budget for summer semester and also increased our average award to $882, a 17% increase over 2010 summer semester awards. This year we continued to focus our awards on need-based applicants and awarded $1,000 and $750 scholarships in order to better meet their financial needs,” said Sevigny.
IES Abroad, which sends more than 5,500 students a year to study abroad at its 32 locations worldwide, has annually committed $2 million in student financial aid for the last three years. The not-for-profit is one of the largest awarders of scholarships for overseas study, both in terms of total dollars and numbers of students assisted.
Scholarship recipients will attend study abroad programs in Africa, Asia, Australia, Europe, New Zealand and South America. The IES Abroad students bring outstanding academic credentials to their study abroad programs and attend top-tier schools around the country.
For information on scholarships, visit http://www.iesabroad.org.
IES Abroad, which celebrated its 60th anniversary in 2010, is a global, not-for-profit academic consortium offering study abroad programs to more than 5,500 U.S. college students each year who participate in 100 programs at 32 international locations. IES Abroad offers programs in Africa, Asia, Australia, Europe, New Zealand and South America. http://www.IESAbroad.org
In October of 2010, IES Abroad received the prestigious Quality Improvement Program (QUIP) designation from The Forum on Education Abroad for meeting the highest standards for study abroad programming and evaluation in the nation.
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