Lori Meadows
International students face a unique set of challenges when it comes to financing their university education. In the US, the top destination for higher education, international students make up a significant portion of the student body, with over a million enrolling in 2019. These students contribute over $40 billion to the economy annually, with most paying their full tuition fees. While 80% of international students pay their way through university via personal or family funds, others may need to borrow money or take out loans. This guide will explore the various methods and challenges of paying for university as an international student, including the costs, scholarships, visas, and more.
| Characteristics | Values |
|---|---|
| Number of international students in the US | Over 1 million |
| Amount generated by international students each year | Over $40 billion |
| Average tuition and fees for out-of-state students at four-year public universities in 2019 | Over $26,000 |
| Average tuition and fees for private schools in 2019 | Nearly $32,000 |
| Payment methods | Forex cards, wire transfers, foreign currency demand draft, university online payment portal, credit cards, debit cards, money orders |
| Additional fees | Visa processing, English language exams |
| Visa requirements | Student visa, F-1 student visa, SEVP-certified school, Form I-20 |
| English proficiency requirements | TOEFL (Test of English as a Foreign Language) |
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What You'll Learn
International students pay more than domestic students
International students often pay more than domestic students for their university education. This is a phenomenon observed in various countries, including the United States and Canada. In the US, international students contribute over $40 billion annually to the economy, with most of these students paying full tuition fees. This has led to criticism in some states, such as California, where there is a perception that international students are taking spots that should be allocated for US students. However, the reality is that international students' tuition fees often subsidize US students and help balance the budgets of public universities.
Similarly, in Canada, international students pay significantly higher tuition fees than their domestic counterparts. This has sparked debates about fairness and accessibility. Some argue that Canadian universities have an obligation to prioritize accessibility for domestic students, making it justifiable for international students to pay more. Others defend the higher fees, stating that studying abroad is a privilege, and international students benefit from the opportunity to gain an international education and potentially become citizens.
The higher fees for international students are not limited to tuition fees alone. They may also incur additional costs, such as special fees for visa processing and English language exams. These extra charges can further increase the financial burden on international students.
Navigating the process of paying tuition fees as an international student can be challenging. Various payment methods are available, including forex cards, wire transfers, foreign currency demand drafts, university online payment portals, and credit cards. Each method has its pros and cons regarding cost-effectiveness, processing time, security, and flexibility.
While international students contribute significantly to the economies of their host countries, the higher tuition fees they pay also raise questions about fairness, accessibility, and the potential impact on domestic students' opportunities. The complexities of this issue have led to ongoing discussions and varying perspectives among stakeholders in the education sector.
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Foreign currency demand drafts
To obtain an FCDD, you need to visit your bank and inform them of your intention to purchase one. You will need to specify the details, including the amount you wish to send and the desired foreign currency. The bank will then issue a prepaid document guaranteeing a specific amount of money to the recipient (the university). The funds are guaranteed once the draft is issued, and it can be used to make several kinds of payments.
One of the benefits of using an FCDD is that it mitigates the effects of exchange fees and bank routing delays. It is also a secure method as it cannot be misused, as the beneficiary's name is mentioned on the draft. Additionally, you have control over the exact amount being sent.
However, there are some potential drawbacks to using FCDDs. They often have associated fees, and the processing time can be longer, making them unsuitable for emergency transfers. There is also a chance of theft, and the draft may expire if the deposit is delayed.
Overall, FCDDs are a reliable and cost-effective way for international students to pay their university tuition fees, offering a simple solution to the complex issue of international payments.
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University online payment portals
Many universities have their own online payment portals, which are often the best way to pay international tuition fees. These portals are usually accessible from the university's website and may be the preferred payment method. They offer a simple, secure, and smart way to pay fees online, often in multiple currencies and via various methods, including bank transfer, credit or debit card, or eWallet. For example, Te Herenga Waka—Victoria University of Wellington has partnered with Convera to offer a payment portal that is trusted by 800+ institutions worldwide to enable payments in 140+ currencies across 200+ countries and territories.
Some universities, like Anglia Ruskin University, have partnered with third-party payment services like Flywire, which accepts payments from over 240 countries and territories in more than 140 currencies. Students can use their existing mobile or online banking authentication methods or make manual bank transfers. However, manual bank transfers may take longer to process and are subject to fluctuating exchange rates and bank charges.
It is important to note that universities' online payment portals may not support payment in instalments or EMIs. Additionally, students should be cautious of potential scams and frauds and avoid clicking on suspicious links to pay tuition fees.
Universities' online payment portals often allow payments for various fees, including tuition, accommodation, course materials, field trips, deposits, transcripts, and other items. For instance, Lancaster University's payment portal allows students, parents, or sponsors to pay tuition and accommodation fees, printing credit, parking, and more.
A third party, such as a family member or employer, can usually use the university's payment portal to pay fees on a student's behalf. This typically involves generating a payment request through the portal and sending it to the third party.
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Visa costs
The visa costs for international students vary depending on the country and specific requirements. Here is an overview of the visa costs and related financial considerations for studying in the UK, Canada, and the US:
United Kingdom
The UK offers different types of student visas, including the Student visa for those aged 16 and above and the Child Student visa for those planning to study at an independent school. The visa costs consist of the application fee and the financial requirements to support yourself during your stay.
The application fee for a Student visa is £524. You may also need to pay additional fees for faster processing. To meet the financial requirements, you must demonstrate that you have sufficient funds to cover your living expenses. The amount varies depending on your location, with £1,483 per month required for up to 9 months for courses in London, and £1,136 per month for up to 9 months for courses outside London.
If you are bringing family members, you will need to prove that you have extra funds for each dependent, which must be maintained for at least 28 consecutive days before your visa application. You may be exempt from providing financial proof if you have held a UK visa for 12 months prior to your Student visa application or if you are a British national overseas or from specific countries.
Canada
Canada requires international students to obtain a study permit, which is a type of temporary visa. The cost of the study permit starts at CAD 150 through the Student Direct Stream, and the processing time is typically faster through this stream. However, applications through this stream may still be rejected, and meeting the minimum financial threshold is crucial.
In addition to the visa cost, you must demonstrate that you can support yourself and any accompanying family members. The financial requirement for applicants outside of Quebec has increased to over CAD 20,000 to reflect the cost of living in Canada. On average, living costs for college students in Canada are around CAD 15,000 per year.
United States
The United States has various visa categories, and the visa application processing fees vary based on the specific category. The nonimmigrant visa application processing fee, which applies to many international students, is $185. However, this fee may differ for specific visa categories.
While visa costs are an important consideration, it is also essential to research the overall cost of studying in the US, including tuition fees and living expenses.
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Scholarships
University-based Scholarships
Many colleges and universities in the US offer scholarships specifically for international students. These scholarships can be highly competitive, and the availability and eligibility criteria can vary widely across institutions. Here are some examples of university-based scholarships for international students:
- The Wien International Scholarship Program at Brandeis University in Massachusetts is open to high-achieving international students with an interest in contributing to the student community.
- Clark University in Massachusetts offers the Global Scholars Program, providing scholarships of at least $10,000 along with a guaranteed $2,500 taxable stipend for a paid internship to first-year international applicants.
- Emory University has a needs-based scholarship program for international students who can demonstrate financial need.
- Harvard University offers a range of highly competitive international scholarships for students from around the globe.
- The University of Arkansas offers the New Arkansan Non-Resident Tuition Award Scholarship, providing an annual award of $9,500 to $17,000 per year for international students based on 30 hours of enrollment.
- American University in Washington, DC, offers partial scholarships for international students from Turkey and Cyprus, as well as merit-based scholarships ranging from $8,000 to $20,000 per year for first-year applicants, including internationals.
- The Presidential Scholarship at Clark University in Massachusetts is open to both domestic and international students and covers full tuition and on-campus room and board for all four years, regardless of financial need.
Subject-Specific and Regional Scholarships
Some scholarships are targeted towards international students from specific regions or those studying particular subjects. Here are some examples:
- The East-West Center Scholarships and Fellowships are for international students from the Asia-Pacific region to study at selected institutions in the US.
- The Japan-United States Friendship Commission offers grant programs to Japanese students wishing to study in the US.
- The Wesleyan Freeman Asian Scholarship Program provides scholarships for 11 exceptional Asian students to study at Wesleyan University in Connecticut, covering full tuition and student fees.
- The Fulbright Program offers scholarships to Australian citizens across all career stages to pursue research or study at a US institution as part of an academic and cultural exchange.
- The AAUW International Fellowships are offered by the American Association of University Women for female international students studying in the US.
- The Bat and Ball Game Women's Sports Scholarship awards $1,000 to a woman pursuing a sports-related degree at any US university.
- The MIT-Zaragoza Women in Logistics and SCM Scholarship is open to female students of any age, ethnicity, or nationality, to study at the Zaragoza Logistics Center at MIT.
- The Rotary Peace Fellowships are for master's degree students studying within one of Rotary's Peace Centers, including Duke University and the University of North Carolina at Chapel Hill.
- The Aga Khan Foundation International Scholarship Programme provides scholarships for postgraduate international students from countries in Africa.
Application Tips
When applying for scholarships, keep in mind that the process can be highly competitive. Here are some tips to improve your chances of success:
- Contact the financial aid office of your target universities and utilize scholarship search tools like InternationalStudent.com to find scholarships open to international students.
- Look beyond scholarships limited to US citizens or permanent residents, as many university-based scholarships are open to all students.
- Carefully review the requirements, such as test scores, essays, videos, letters of recommendation, and other supporting materials.
- Be honest and authentic in your essays, and showcase your leadership potential and extracurricular activities.
- Have your scholarship essays reviewed by a school counselor, English teacher, or EducationUSA adviser before submitting them.
- Continue applying for multiple scholarships even after receiving one or two awards to maximize your opportunities for funding.
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Frequently asked questions
International students in the US pay an average of more than $26,000 per year at four-year public universities, and private schools charge even more, averaging nearly $32,000 per year.
Most international students pay their own way, with their families saving up for decades or borrowing money. They can also pay using Forex cards, wire transfers, foreign currency demand drafts, university online payment portals, or credit cards.
International students and out-of-state students typically pay more than students who attend college in their home states, sometimes two or three times as much. They may also pay special fees for visa processing and English language exams.
Yes, international students studying in the US must hold a student visa, typically an F-1 visa, which requires an acceptance offer from an approved school.
