Douglas Olsen
International students often rely on personal and external financial resources to cover their tuition and expenses, as they are typically ineligible for federal or state aid. However, there are several financial aid options available for international students, including scholarships, grants, fellowships, work-study programmes, and private loans. The availability and accessibility of these options vary depending on the country and institution, and students are advised to conduct thorough research and explore various resources to secure the most suitable financial aid for their international education.
Characteristics and values table for international students' financial help
| Characteristics | Values |
|---|---|
| Federal student aid | Not available for international students |
| Private loans | Available for international students |
| Scholarships | Available for international students |
| Work-study programs | Available for international students |
| Grants | Available for international students |
| Fellowships | Available for international students |
| Institutional aid | Available for international students |
| Need-based scholarships | Available for international students |
| Tuition waivers | Available for international students |
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What You'll Learn
Scholarships, grants, and fellowships
Scholarships
Scholarships are a common form of financial aid for international students. They are usually awarded based on merit, such as academic performance, special skills, or talents, although some are also need-based. Scholarships can be found through online databases such as International Scholarships, IEFA, International Student, and EduPASS, which offer comprehensive listings of scholarships specifically for international students. Scholarship providers include MPOWER Financing, which offers scholarships for international and DACA students, and the Aga Khan Foundation, which provides scholarships for students from developing countries.
Grants
Grants are another source of funding for international students. They can be found through similar online databases, such as IEFA, which provides a comprehensive listing of grants for international students. Grants may also be included as part of a scholarship award, as seen with the scholarship program for postgraduate students from certain countries, which is half grant and half loan.
Fellowships
Fellowships are also available for international students, often with specific eligibility criteria. For example, the Amelia Earheart Fellowship, created by Zonta International, is open to women of any nationality pursuing a doctoral degree in aerospace engineering and space sciences. Fellowships may also be offered by universities as a form of institutional aid, particularly for graduate studies.
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Work-study programmes
As a prospective international student, you may be daunted by the cost of tuition fees, books, health insurance, accommodation, and transportation. Working while studying can be a great way to fund your education, gain work experience, and practice your English in a professional environment.
Although federal work-study programs are not open to international students, some schools have special policies that allow international students to work in jobs that would otherwise be reserved for students in the federal work-study program. These work opportunities are often funded directly by the school. For example, the University of Pennsylvania uses institutional funding to offer work-study programs to eligible international students.
Additionally, international students can participate in Curricular Practical Training (CPT), which allows F-1 visa holders to gain valuable work experience in their field while funding their studies. Some universities that offer CPT programs for international students include McDaniel College, Dallas Baptist University, the University of the Cumberlands, Harrisburg University of Science & Technology, and Sofia University.
It is important to note that your ability to work on or off-campus may depend on your visa type, so be sure to review the applicable policies. You can seek guidance from the office of career services or the international students' office to explore the work opportunities available to you as an international student.
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Private loans
International students often have fewer student loan options than domestic borrowers. Unless they are eligible non-citizens who can qualify for federal student loans, they may need to borrow from a private lender.
Ascent Funding
Ascent Funding offers international co-signed student loan options to help international students pay for college. They offer private student loans to international students in the U.S. for a variety of career paths. To qualify, you must be an international student who is a U.S. temporary resident or has Temporary Protected Status and have a co-signer who is a U.S. citizen or U.S. permanent resident.
Brazos
Brazos private student loans are best for borrowers from Texas and students attending school in Texas who are from qualifying states. All borrowers, including international students, must have a qualified co-signer.
Earnest Private Student Loans
Earnest Private Student Loans are made by One American Bank or FinWise Bank. They are best for international graduate students from Canada, India, Mexico, or South Korea who want flexible repayment. The minimum income requirement is $35,000, and loan amounts range from $1,000 up to the total cost of attendance.
NYU Stern
NYU Stern provides an alphabetical list of lenders that have provided private education loans to graduate students. They suggest that students compare information among these and other available student loan providers. NYU does not prefer, recommend, promote, endorse, or suggest any of these lenders.
Other Options
The Belgian American Educational Foundation will award MBA students an interest-free loan of up to $100,000 for two academic years. Additionally, a variety of organizations and institutions provide private loans to international students, often targeting students from specific regions or countries who meet certain criteria. Students can also research funding opportunities from their country's embassy or governmental educational office to see if there are applicable scholarships.
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Institutional financial aid
International students are not eligible for federal or state aid and usually rely on personal or external financial resources to cover their tuition and expenses. However, there are institutional financial aid options available for international students, although these vary by institution.
Scholarships
Scholarships are a popular option for international students seeking financial aid. Many private organisations offer scholarships specifically for international students, and some universities offer scholarships for students with certain credentials, such as International Baccalaureate or Advanced Placement courses. Additionally, some universities offer sports, academic, or artistic scholarships.
Grants
Grants are another form of institutional financial aid available to international students.
Loans
Several private legal lenders in the US offer loans to international students, although these usually require a creditworthy co-signer who is a US citizen or permanent resident.
On-Campus Employment
International students with an F-1 or J-1 visa status may be eligible for part-time, on-campus employment, although the pay is typically not sufficient to cover the full cost of tuition.
Waived Application Fees
Some institutions may waive application fees for international students.
Exchange Programmes
In some cases, international students may be able to participate in formal exchange programmes between their home institution and the institution they wish to attend in the US, which can help reduce costs.
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International student loans
International students can access private loans from a variety of organisations and institutions. These loans can help cover the costs of tuition, room and board, books, travel, health insurance, and living expenses. However, it is important to carefully consider the interest rates, repayment terms, loan maximums, and fees associated with these loans.
International students in the US, for example, often require a US co-signer, who must be a US citizen or permanent resident with good credit. There are, however, some no-cosigner loan options available for international students at select schools in the US and Canada. MPOWER Financing, for instance, provides loans to international students without requiring a co-signer or collateral. They offer fixed-rate loans from US$2,001 up to US$100,000 at competitive interest rates, with a quick application process. Ascent Funding also offers a no-cosigner loan option for eligible international students.
Some private loans are targeted at students from specific regions or countries who meet certain criteria. For example, the Organization of American States, based in Washington, DC, offers interest-free loans to students from Latin American and Caribbean countries to help finance their graduate and postgraduate studies.
Students should also be aware that scholarships, grants, and fellowships are available to international students, although these are often competitive and may not cover all expenses. Work-study programs are another option, allowing students to earn money while gaining experience in their future career field. Additionally, some universities offer financial incentives for students to attend their institution, and academic departments may have funds to assist international students with exceptional need and/or talent.
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Frequently asked questions
Yes, there are scholarships, grants, and fellowships available for international students. Scholarships are the main way to fund studies in the US. There are private, institutional, and government-funded scholarships. Some scholarships are need-based, while others are merit-based.
Yes, international students can take out private loans from international organisations or private lenders in the US. However, many lenders require a creditworthy co-signer who is a US citizen or permanent resident.
Yes, some universities offer work-study programmes where students can work part-time jobs on campus. However, make sure your visa allows you to work.
Yes, some public and private universities offer financial incentives for students. Additionally, if you have taken International Baccalaureate (IB) or Advanced Placement (AP) courses, you can have these credentials evaluated to see if some of the credits can be applied to reduce the time to graduation.
