Janice Lozano
International students face additional costs when studying at US colleges, including visa application fees and international airfare. While funding opportunities for international students in the US are limited, there are still ways to reduce the total cost of attendance. International students are not eligible for US federal aid, but they may qualify for merit-based or need-based aid, scholarships, grants, or private loans. Many US colleges and universities offer limited financial aid for international students, and some universities have large international student communities that provide resources, support, and guidance.
| Characteristics | Values |
|---|---|
| Availability of financial aid for international students | Limited |
| Sources of financial aid | Scholarships, grants, private loans, work-study programmes |
| Scholarship providers | Fulbright Commission, United World Colleges, universities, private organisations |
| Federal loans | FAFSA is available for specific categories of students from other countries, such as those with a green card or T nonimmigrant status |
| Work options | Part-time, on-campus employment (F-1 status) or similar employment with permission from the exchange visitor program sponsor (J-1 status) |
| Other considerations | Cost of attendance, visa application fees, international airfare, fluctuating exchange rates |
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Scholarships
There are several types of scholarships available for international students. Many universities offer their own scholarships, but private scholarships also exist. Private scholarships are offered by organisations such as the Fulbright Commission, which grants aid to students worldwide, and United World Colleges (UWC), which includes a group of 18 universities worldwide. Additionally, many colleges and universities in the US offer scholarships or grants to talented international students. Some schools offer sports scholarships, while others provide academic or artistic scholarships.
To increase your chances of securing a scholarship, it is important to have impressive achievements and know how to make a good application. You can also consult with the admissions office or the international student office at the university you are applying to for guidance on available scholarships.
It is worth noting that international students are not eligible for US federal aid such as Stafford Loans or Plus Loans. However, they may be eligible for private international student loans with a creditworthy US co-signer. Additionally, international students can pursue on-campus employment opportunities, such as teaching or research assistantships, to supplement their income.
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Loans
International students have fewer loan options available to them than US citizens. Federal student loans, such as the Free Application for Federal Student Aid (FAFSA), are not available to international students. However, international students are eligible for international student loans, which are specialised private education loans. These loans are flexible and can offer loan amounts high enough to pay for an entire degree, but they have extended repayment terms and reasonable interest rates.
Most international students applying for loans will need a US co-signer—a permanent US resident with good credit who has lived in the US for at least two years. This is because most international students cannot get credit on their own. The co-signer is legally obligated to repay the loan if the borrower fails to pay. If an international student cannot find a co-signer, there are still loan options available that do not require a co-signer.
The College Board is a free online financial aid source for scholarships, grants, and loans for all college-bound students, including international students. The US Department of Education also offers tips and resources to protect students from dishonest organisations.
When taking out a loan, it is important to consider the repayment plan. The repayment period generally ranges from 10 to 25 years, but the larger the loan, the longer the repayment period. Students can choose to defer payment until 6 months after graduation, as long as full-time status is maintained, for a maximum of four years. Alternatively, students can choose to pay only the interest while in school and defer the principal until 45 days after graduation or until their course load becomes part-time.
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Work-study programmes
International students are generally not eligible for federal funding in the US, and funding opportunities are limited. However, work-study programmes can be an option for international students to work and study simultaneously.
Additionally, international students can explore on-campus employment opportunities, such as Curricular Practical Training (CPT) programmes, which allow students to work from the moment they arrive on campus. Other options include Optional Practical Training (OPT) and pursuing roles as resident assistants (RAs) after their first year of study.
It is important to note that work opportunities for international students may depend on their visa type, so reviewing applicable policies is essential. While tuition fees for international students can be expensive, work-study programmes and on-campus employment can provide a means to finance their education and make a US education more accessible.
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Grants
International students face additional costs when studying in the US, such as visa application fees and international airfare. Although funding opportunities are limited, international students may qualify for certain types of merit or need-based aid.
International students seeking grants should look into institutional grants offered by their college or university. Many US colleges and universities offer limited financial aid for international students through their financial aid offices. Additionally, some public and private universities offer financial incentives for students to attend their institution. Most of the institutional aid available to international students is reserved for graduate study in the form of assistantships and fellowships.
Students can also seek grants from private organisations. For example, the Fulbright Commission grants aid to students all over the world. Additionally, international students may be eligible to borrow from private lenders with a creditworthy US co-signer. However, many financial aid experts advise against taking on too much debt.
To apply for financial aid, international students may be required to fill out the International Student Financial Aid Application (ISFAA) or the CSS Profile, which is used by private colleges. Some universities may also have their own forms. In rare cases, a school may require international students to fill out the Free Application for Federal Student Aid (FAFSA).
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Assistantships and fellowships
Assistantships are offered by some public and private universities as an incentive for students to attend their institution. They are typically tied to the institution and offer the most substantive financial rewards. Graduate assistantships also enable students to work closely with faculty members, refine technical knowledge and skills, and strengthen their resumes.
Fellowships can be found through graduate schools, specific academic programmes, and outside organisations. Some schools provide a list of fellowships that international students can apply for, and external fellowships are offered by foundations, private companies, governmental entities, and nonprofit organisations. Fellowships often mean participating in high-prestige cohort experiences and establishing lasting alumni networks.
In addition to assistantships and fellowships, scholarships are another option for international students seeking financial aid for their master's programmes. Some universities offer scholarships that can be found on their financial aid department websites. There are also free online scholarship databases, such as U.S. News Scholarship Finder, which can be searched using various filters. International students may also be eligible for scholarships from their home countries or governments.
It is important to note that international students may face challenges in securing financial aid for their master's programmes, as many forms of aid, such as federal loans, are restricted to US citizens or permanent residents. However, by exploring assistantships, fellowships, and scholarships, international students can find ways to mitigate the cost of their studies.
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Frequently asked questions
There are several types of financial aid available for international students, including scholarships, grants, private loans, work-study programs, and federal loans (FAFSA) for specific categories of students. International students can also take up part-time, on-campus employment.
To apply for financial aid, international students may be required to fill out the International Student Financial Aid Application (ISFAA) or the CSS Profile, which is used by private colleges. Some universities may also have their own forms. In rare cases, a school may require international students to fill out the Free Application for Federal Student Aid (FAFSA).
There are many scholarship opportunities for international students, including the Fulbright Program, United World Colleges (UWC) Scholarships, and Joint Japan World Bank Graduate Scholarships. Many universities also offer their own scholarships.
It is important to start by researching the costs of attendance and the financial aid options available. Students should also be aware of dishonest scholarship offers and consult with the admissions office or international student office for guidance. Additionally, students should provide any requested documentation, such as income data or transcripts, as soon as possible.
