Will your Financial Aid transfer to the cost of studying abroad? What happens when you return? Will you still be eligible for Financial Aid? If you’re studying abroad, you will be charged for your study abroad program by the UNC Cashier. The financial aid that you typically receive will be applied as a credit. If the amount of the credit exceeds the cost of the study abroad program, then you will receive a refund from the UNC Cashier, which may be used to cover other out-of-pocket expenses (e.g. airfare, etc.). If the costs are greater than the amount of financial aid, you will need to pay the remaining balance to the UNC Cashier. To explore other payment options (like installment plans), visit the UNC Cashier’s website. If you are not studying abroad, your financial aid will not apply. And…things get complicated in the summer, so be sure to ask questions early.