Ibrahim Gardner
Boston University does not offer need-based financial aid to international students. However, international students may be eligible for merit-based scholarships offered by BU, which recognize academic, athletic, or artistic achievement. Additionally, private scholarship agencies and lenders do offer scholarships and loans for international students.
| Characteristics | Values |
|---|---|
| Need-based financial aid | Not available to international students |
| Merit-based scholarships | Available to international students |
| Credit-based educational loans | Requires a creditworthy U.S. citizen or eligible non-citizen co-borrower |
| Private scholarships | Available from some agencies |
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What You'll Learn
- Boston University does not offer need-based financial aid to international students
- International students may be eligible for merit scholarships
- Private scholarship agencies offer scholarships for international students
- International students can apply for US federal student loans
- Lenders offering credit-based educational loans to international students
Boston University does not offer need-based financial aid to international students
Additionally, some private scholarship agencies offer scholarships for international students. International students must independently search for these scholarships and submit applications separately from their academic program applications.
International students applying for admission to Boston University must provide evidence of sufficient funds to cover all tuition, fees, books, and living expenses for their studies. It is recommended that students consider all costs for the entire duration of their program.
While Boston University does not offer need-based financial aid to international students, there may be other financing options available, such as credit-based educational loans. Most lenders offering these loans require a creditworthy co-borrower who is a US citizen or eligible non-citizen.
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International students may be eligible for merit scholarships
International students at Boston University are not eligible for need-based financial aid from the university, state, or federal government. This type of financial aid is only available to US citizens and eligible non-citizens.
However, international students may be eligible for merit scholarships offered by BU. These scholarships are awarded based on academic, athletic, or artistic achievement, regardless of financial need. The admissions office of each school or college determines the recipients of merit-based scholarships.
International students interested in merit scholarships should contact the admissions office of their specific school or college within Boston University for more information on the application processes and eligibility requirements.
It is important to note that international students applying for admission to Boston University must present evidence of sufficient funds to cover all tuition, fees, books, and living expenses for their studies.
In addition to merit scholarships offered by BU, international students can also explore private scholarship opportunities. Some private scholarship agencies do offer scholarships specifically for international students, but students must actively search for these scholarships and submit applications separately from their academic program applications.
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Private scholarship agencies offer scholarships for international students
Boston University does not offer need-based financial aid to international students. However, international students at Boston University are eligible for merit-based scholarships. These scholarships are awarded based on academic, athletic, or artistic achievement.
There are several scholarships offered by private agencies for international students looking to study at Boston University. Here are some examples:
- Education Future International Scholarship: This scholarship is offered to international students, including Indian nationals, for pursuing all courses offered by the university except Medicine/MBBS. The deadline for applications is June 10, 2025, and the scholarship offers partial funding ranging from INR 2 lakhs to INR 10 lakhs.
- Fulbright New Zealand General Graduate Awards: This scholarship is offered to New Zealand nationals for full funding of their graduate studies at Boston University.
- Presidential Scholarship: This scholarship provides partial funding of $25,000 per year for undergraduate international students at Boston University.
- Trustee Scholarship: The Trustee Scholarship covers full tuition and compulsory undergraduate fees for Bachelor's degree students at Boston University.
- Graduate Assistantships: Boston University offers Graduate Assistantships of up to $10,000 per term for Master's and PhD candidates.
- Doctoral Funding: PhD students at Boston University may be eligible for Doctoral Funding, which includes full tuition fee waivers, annual stipends, health insurance credits, and coverage of student service costs.
These are just a few examples of the many private scholarship opportunities available for international students wishing to study at Boston University. It is always a good idea to research and apply for scholarships that align with your academic goals and financial needs.
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International students can apply for US federal student loans
International students are not eligible for need-based financial aid from Boston University, the state, or the federal government. Need-based financial aid is only available to US citizens and eligible non-citizens. However, international students can apply for international student loans, which are specialized private education loans. These loans can cover up to the total cost of school minus any other financial aid received.
International student loans are now a common way to finance an education in the US. They are very flexible and can offer loan amounts high enough to pay for a student's entire education, but with extended repayment terms and reasonable interest rates. The interest rate for international students is often based on the Prime Rate or the SOFR (Secured Overnight Financing Rate). The SOFR is a new benchmark interest rate that has replaced LIBOR and is considered more reliable and accurate. It is based on transactions secured by US Treasury securities and is administered by the Federal Reserve Bank of New York.
To apply for an international student loan, a student will need to find a co-signer who is a permanent US resident with good credit and has lived in the US for at least the past two years. This co-signer can be a close friend or relative. If a student is unable to find a co-signer, they may be able to access a loan without one. After selecting their citizenship and school, a list of lenders will be provided, and the student can then compare the different terms and conditions before applying online.
There are different types of repayment plans for international student loans. With an Interest Only loan, international students only pay the interest while in school, up to four consecutive years, and can defer the principal until 45 days after graduation or when they drop their course load to part-time. With Immediate Repayment, payments on both interest and principal are due immediately once the loan has been disbursed.
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Lenders offering credit-based educational loans to international students
International students at Boston University are not eligible for need-based financial aid from the university, state, or federal government. However, international students can still receive merit-based scholarships and credit-based educational loans from private lenders.
Most lenders offering credit-based educational loans to international students require a creditworthy co-borrower who is a US citizen or eligible non-citizen. This person applies for the loan with the student and signs a promissory note agreeing to repay the loan if the student fails to do so.
MPOWER Financing
MPOWER Financing provides loans to international students studying in the US and Canada. They offer fixed-rate loans from $2,001 to $100,000 at competitive interest rates, with up to 0.25% in interest rate discounts. MPOWER does not require a cosigner or collateral and instead makes loan decisions based on the student's future income potential. They also provide free visa support letters, career strategy services, and quick application processing.
Earnest
Earnest offers competitive APRs, low minimum credit score requirements, and support for both undergraduate and graduate borrowers. They provide several types of loans, including undergraduate and graduate loans, loans for half-time students, and parent PLUS loans.
Ascent
Ascent is a good option for students with significant borrowing needs. They offer hardship options, including forbearance, and do not require a US citizen co-signer.
Citizens Bank
Citizens Bank features the highest loan maximums among the lenders mentioned. They offer multi-year loans, which can help borrowers budget and plan their finances.
SoFi
SoFi offers low APRs for fixed and variable-rate refinance loans and does not charge origination or late payment fees. They also provide an autopay discount of 0.25% and a SoFi+ membership discount of 0.125%.
Custom Choice Student Loans
Custom Choice Student Loans are a good option for upperclassmen who can take advantage of the 2% Grad Reward and returning borrowers who can benefit from a pre-filled application and income verification waiver.
Juno
Juno is not a direct lender but acts as a broker, matching borrowers with partner lenders that work with international students. They provide a rich collection of helpful resources for borrowers and have lower costs compared to other lenders.
It is important to note that the availability of loans and specific requirements may vary, and it is always advisable to check with the college's financial aid office and seek expert advice before applying for any loan.
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Frequently asked questions
Boston University does not offer need-based financial aid to international students. However, international students may be eligible for select merit-based scholarships.
Merit-based scholarships at Boston University are awarded based on academic, athletic, or artistic achievement.
International students can consider credit-based educational loans, which typically require a creditworthy co-borrower who is a US citizen or eligible non-citizen. Additionally, some private scholarship agencies offer scholarships specifically for international students.
Yes, international students interested in employment while enrolled at Boston University can contact the International Student Service Office (ISSO) for information on employment requirements and limitations.
To apply for merit-based scholarships, international students should contact the admissions office of their specific school or college within Boston University. The admissions office determines the recipients of merit-based scholarships and can provide information on the application process and eligibility requirements.
