It does not cover transatlantic transportation or any liability on the part of the student for damage done to a third party.
Housing is contracted for the semester.
This down-payment is refundable only to the extent that AYA has not incurred housing expenses on the student's behalf. Often several weeks are spent searching for one's own apartment. Apartments usually require year-long leases. Meals are not included. Over the years, it has been the most widely appreciated aspects of Academic Year Abroad.