What are the exchange program Budget Tiers for financial aid and how are they calculated?
IDEA requires exchange/study abroad program administrators to develop and update a student budget for each program every year. IDEA uses the budget to compare costs of the program to the cost of attendance at OSU for the same time period. Programs that cost more than attending OSU are categorized into one of five Budget Tiers. A standard “add-on” is applied to a students’ financial aid budget based on the Tier calculated for the program. The increased financial aid budget allows students to increase loans, if eligible, to meet their additional need during the exchange. IDEA calculates budget tiers using a spreadsheet that compares many factors, such as tuition/fees, books, room and board, airfare, local transportation, incidentals, visa and passport fees, immunizations and vacation period living expenses. Recreational travel can not be included for financial aid purposes.
