- International Student
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- Study in the USA
- Financing
- Sources of Financial Aid
With the cost of attending a college or university in the United States rising each year, it is important to explore the financial aid options that are available to you. There are a few different financial aid options for funding your international studies. On this page, we’ll offer a few potential sources of financial aid that are worth looking into.
International Student Loans
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International Scholarships Search
International scholarships are specifically designed to help fund education programs overseas and are a popular option for students seeking to gain a global perspective. Not only do they provide financial assistance, but they can also open doors to unique cultural experiences and valuable networking opportunities. With so many international scholarships available, it can be overwhelming to navigate the application process. However, with careful research and preparation, you can successfully secure funding to help achieve your academic and personal goals abroad.
Scholarship Search »Your Home Country
Your own home country could possibly be a source of funding, either from organizations or companies from your homecountry or your government. For instance, Saudi Arabia launched a program that provides full scholarships to over10,000 Saudi students studying in the USA. Investigate this option thoroughly before you leave. Bear in mind whenyou are applying for aid from your home country that there may be some stipulations involved. For example, you mayhave to return home to your country once you have graduated.
International Organizations
There are several international organizations, such as the FulbrightCommission, who grant aid to students all over the world. Other such organizations that offer aid are:
Many of these organizations require you to be in your home country when you apply, so plan ahead, as they can bevery competitive.
U.S. Universities
Many U.S. colleges and universities offer limited financial aid for international students through their financialaid offices. In general, however, there is much less money available for undergraduate study in the United Statesthan there is for graduate study. Visitour Schools Awarding Financial Aid pagesto see which U.S. schools offer aid to international students. Private institutions can sometimes discount or reducethe costs of tuition; public institutions seldom have this option. You should request information about financialaid when you request an application form from the institution's admissions office.
In some instances, it may be possible for you to participate in a formal exchange between your home institution andthe institution you wish to attend in the United States. You can get more information on such exchanges bycontacting the international student offices at the U.S. institution or by contacting the corresponding office atyour institution. It is possible for this kind of person-for-person exchange to reduce expenses.
U.S. Government
International students are not eligible for U.S. federal aid such as Stafford Loans or Plus Loans. However, theremay be other sources of funding if you are an international student coming into the U.S. to study, so check with theU.S. embassy in your home country.
Your family
Family is the largest source of funding for international students. A recent study by the Institute ofInternational Education (http://www.iie.org)showed that nearly 65% of all international students in the USA were funded by there family and relatives, withcollege and university funding coming in second. International student funding can be quite competitive, so yourfamily may be another source of funding for you to explore.
International Student Loans
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International students are not eligible for U.S. government-backed loans like Stafford Loans or Plus Loans, butinternational students are eligible for private international student loans to study in the USA. You will need tomeet specific eligibility requirements like attending an approved school and having a cosigner in most cases. If youdo not have a cosigner but would still like to apply for a loan, see ifa no cosigner loanis available to you. If you decide to apply for a loan it's important to be careful about taking on too much debt,you should only borrow what you truly need to cover the cost of studying and living in the U.S.
Employment
As you begin to think about funding sources for your educational and living expenses in the United States, rememberthat you cannot count on working in the United States unless you have been granted a teaching or researchassistantship. When you submit evidence of your financial resources, you cannot reply on potential income. Theincome on which you base your application must be assured, and it must be equal to or exceed the costs of the firstyear of your studies.
Immigration regulations are very strict with respect to working while carrying a student visa. F-1 status, which isthe most common status for full-time international students, allows for part time, on-campus employment (fewer than20 hours per week.) J-1 student status allows for similar employment, with similar restrictions, as long aspermission is given by the exchange visitor program sponsor. Visitour Working in the USA pagesfor more information on employment opportunities and restrictions for F-1 students. M-1 visa holders for technicaland vocational programs are not permitted to work during the course of their studies.
Jobs available on campus typically do not pay much, certainly not enough to finance a university education. Do notcount on this kind of a job for anything more than a supplement to other funds.
Careful long- and short-term planning is necessary to ensure that you will have a rewarding educational experiencein the United States. If you are realistic about your financial needs, you will be better able to enjoy the excitingacademic and cultural experience of living and learning in the United States.
Financing
