The US is the top destination of international students because of its meritorious and high-quality education. However, expenses can be astronomical and the cost of living plus books and supplies are an additional burden on the budget. As an international student, you want top-notch education and you may be willing to make a few sacrifices. According to statistics, 63.6% of international students depend on the personal income of their family as a resource to fund their education while only 8.2% depend on current employment. What happens when you get into a financial predicament while living in the US? You have to know the financial aids available for you to help you tide over a financial crisis.
for more information: https://www.collegehippo.com/blog/how-international-students-finance-us-education/
Financial Aid from the US Government
The US government is limited in how much it can give aid to international students. There are instances in which non-citizens may be eligible for financial aid from the U.S. federal government. If you are an international student, you may be eligible for a few US government programs such as:
Fulbright
The Fulbright Program is the flagship international educational exchange program sponsored by the U.S. government and is designed to increase mutual understanding between the people of the United States and the people of other countries.
for more information: https://eca.state.gov/fulbright
Education USA
EducationUSA is a U.S. Department of State network of over 425 international student advising centers in 178 countries. The network promotes U.S. higher education to students around the world by offering accurate, comprehensive, and current information about opportunities to study at accredited postsecondary institutions in the United States.
for more information: https://educationusa.state.gov/
Financial Aid from Your Homeland
Don’t overlook some opportunities for aid you can get from your homeland. If you have an excellent academic record your country may give you a scholarship grant and send you abroad. Most countries will support their best and brightest so they can apply their newly gained skills back home.
Financial Aid Through the Admissions Office
Most colleges have either need-based or merit-based financial aid program and this can come in many forms. For example, some schools have a need-blind admission policy where they accept students based on merit alone. The aid available for international students varies widely. If the school has large funds and is looking to diversify its student population it would have more financial concessions for international students.
Financial Aid Through Athletic Department
If you are especially gifted in sports you may apply for a scholarship through the athletic department. Some international students get a full scholarship by participating in their school’s sports teams. If you are a great rugby player, track and field runner, or have talent in any sport, you may just have a ticket for a US education. There are some agencies that travel the world looking for talented students. However, the school’s coach will have the final say as to whether you get selected and if you will get a financial aid package as a school athlete.
Financial Aid Through an Academic Department
If you have above average skills in a certain academic field there is a chance you can get financial aid from an academic department. If you excel in mathematics, business, or physics, there may be a scholarship for you. Most scholarships are available in the STEM fields— science, technology, engineering, and mathematics. These departments require new research and innovation so you must present a track record that proves you are worth the investment.
Tuition Waivers
Your entire tuition or a part of it will not have to be paid if you qualify for a tuition waiver. There are a handful of schools that offer tuition waivers to international students. There are some eligibility requirements to get the tuition waiver. It can be based on citizenship, academic performance, or come as part of a fellowship. You must do your research or talk to your admissions officer to get the full details.
Private Scholarships, Grants and Fellowships
There are organizations around the world which offer scholarships that help students study abroad. These awards can be competitive but they offer free money. There are thousands of applications out there and you need to put time and effort into each application to increase the likelihood of getting the award. You have to be aware of deadlines, submission guidelines and documents to be prepared.
for more information: IEFA.org.
Part-Time Work
Working in the US is an option to supplement your finances. There are four ways you can legally work in the US with an F-1 student visa:
On-Campus Employment– you are able to work on campus or with an “educationally affiliated off-campus location.”
Off-Campus Employment– this option is available for students who have completed one academic year and have a pressing economic hardship or emergent circumstance.
Curricular Practical Training (CPT)– is training that is part of your curriculum that can give you real-world experience. CPT can be full time with no weekly hour limit.
Optional Practical Training (OPT)– this refers to temporary employment related to your field of study. Eligible students can get up to 12 months of OPT employment.
Another thing to remember is if you have an F-1 non-immigrant student visa you are only allowed to work part-time on campus if you are in good academic standing or if you have completed your academic program. Your work must be directly related to your major if you want to get approval for an OPT or CPT. Be sure to check with your school if you can work while studying.
International Financial Aid from World Organizations
International organizations like the United Nations and World Health Organization can help fund your degree but their scholarships are extremely competitive. Nevertheless, it can be an amazing opportunity if you have the qualifications and skills to get it.
Student Loans for International Students
Getting loans is mostly a guaranteed and speedy way to get funds. Student Loans can cover the entire cost of your US education including tuition fees and living expenses. If you attend an accredited school there are lenders that can work with you. You can apply online and get approved easily. You have to remember that loans need to be paid back along with interest so you have to read the details and the fine print to find the loan that is right for you.
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