Lana Oconnell
International students often require financial support to cover the costs of tuition, books, living expenses, and travel. While international students are typically ineligible for federal financial aid, there are alternative sources of financial assistance, including scholarships, grants, and loans. Before enrolling in a college or university, it is essential to understand the total cost of attendance (COA), which includes both direct and indirect costs. To access financial support, international students may need to provide financial documentation, such as bank statements or letters confirming sponsorship. Certain schools may have specific requirements for acceptable forms of evidence, and students are advised to contact the institution's financial aid office for guidance. Additionally, international students can explore opportunities through the College Board, College Scholarship Service (CSS) Profile, and EducationUSA for resources and information on financing their studies.
| Characteristics | Values |
|---|---|
| Purpose | To obtain financial aid for international students |
| Types of financial support | Scholarships, grants, federal student loans, work-study funds, state aid, institutional aid, or external sponsorship |
| Sources of financial support | Personal, family, friends, government, university, business scholarship, employer, or any combination of funds |
| Requirements | Financial verification, evidence of financial ability, or a Social Security number |
| Forms | Certificate of Finances, Certificate of Eligibility (Form I-20), Free Application for Federal Student Aid (FAFSA), or College Scholarship Service (CSS) Profile |
| Additional resources | EducationUSA advising centers or a university financial aid office |
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What You'll Learn
Understanding the Cost of Attendance (COA)
The COA includes both direct and indirect costs. Direct costs are those paid directly to the institution, such as tuition and fees. Indirect costs, on the other hand, are incidental expenses related to your attendance, such as room and board, books, supplies, transportation, loan fees, and other miscellaneous expenses. It is important to note that the COA is not the same as your Student Account Statement or bill.
Colleges and universities usually publish their COA on their websites, making it easier for students and parents to compare costs. However, it is essential to understand that the COA represents the maximum or "sticker price" of attendance, and most students end up paying less due to financial aid and scholarships. Additionally, the COA may vary based on student-specific factors, such as living on campus or off campus and in-state or out-of-state status.
The COA is used to calculate each student's eligibility for financial aid, including grants, loans, and scholarships. It sets a limit on the total aid a student can receive and is a key component in determining financial need. For instance, if a college has a COA of $16,000 and a student receives $4,000 in need-based aid and scholarships, they would be eligible for up to $12,000 in non-need-based aid, such as unsubsidized loans.
To summarise, understanding the COA is essential for international students seeking financial support. It provides an estimate of the total expenses for the duration of enrolment and helps determine financial need and aid eligibility. By comparing published COA figures and understanding the available financial aid options, international students can make informed decisions about their educational pursuits.
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Filling out the Free Application for Federal Student Aid (FAFSA)
International students seeking financial aid to study in the United States can apply for the Free Application for Federal Student Aid (FAFSA). Here is a step-by-step guide to filling out the FAFSA:
Step 1: Create an FSA ID
To begin the FAFSA application process, you need to create a Federal Student Aid (FSA) ID. This ID acts as your electronic signature when signing and submitting the FAFSA form. You can create an FSA ID on the FAFSA website, and you will need to provide some basic information and create a username and password.
Step 2: Gather Required Information
Before starting the FAFSA form, ensure you have all the necessary information and documents readily available. This includes personal information such as your Social Security number or Alien Registration number, as well as financial information like tax returns and records of assets. Having everything together beforehand will make the application process smoother.
Step 3: Understand Eligibility Requirements
To be considered for federal student aid, you must meet certain eligibility criteria. These include demonstrating financial need and meeting academic progress requirements. Understanding these requirements beforehand will help you tailor your application effectively.
Step 4: Complete the FAFSA Form
Log in to your FAFSA account using your FSA ID and begin filling out the application form. Provide all the requested information accurately and honestly. The form will cover various sections, including personal information, school information, and financial details.
Step 5: Submit the Application
Once you have completed the FAFSA form, carefully review your responses to ensure accuracy. After you are satisfied that all the information is correct, submit your application. You will usually receive a confirmation email or notification indicating that your FAFSA form has been successfully received.
Remember, the FAFSA process can be complex, and it is always advisable to seek guidance from a school counsellor or a financial aid advisor to ensure you are on the right track and to avoid common pitfalls.
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College Scholarship Service (CSS) Profile
The College Scholarship Service (CSS) Profile is an online service provided by College Board that allows students, including international students, to apply for financial aid. The CSS Profile is a detailed financial aid application used by nearly 250 colleges, universities, and scholarship programs to award non-federal aid. It is required by some colleges and universities to grant grants, scholarships, and loans.
The CSS Profile is more detailed than the Free Application for Federal Student Aid (FAFSA) and is available earlier, making it a good option for Early Action and Early Decision applicants. It gives the schools that the student is applying to a better idea of their financial aid needs early on. The CSS Profile is required by mostly private colleges or other institutions with large endowments, and some public schools.
To fill out the CSS Profile, students will need to round up some key documents, including their most recent tax returns and W-2 forms, in addition to records regarding bank accounts and other assets. The College Board points out that students don't have to complete the application in one sitting; they can save it and return to it later. Once the student hits the "Submit" button, their reports will be sent to the schools or programs they've listed. The next steps may include submitting any required documents to the Institutional Documentation Service (IDOC), the College Board's platform for uploading and storing relevant financial documents.
The CSS Profile is required by some colleges from both the custodial and noncustodial parent. Students who file a CSS Profile should also complete the FAFSA, which is used to determine eligibility for federal Pell Grants, loans, and work-study programs.
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Sponsor letters and other financial documentation
International students are not eligible for US government-funded financial aid. However, some SEVP-certified schools offer financial aid and scholarships for their F and M students. Before a Certificate of Eligibility (Form I-20) can be offered to an international student, financial verification is required. Prospective F-1 or M-1 students must have the financial resources to live and study in the US, including covering tuition, books, living expenses, and travel.
A sponsor letter is used for scholarship, government, and/or employer sponsorship. It confirms the relationship between the sponsor and the student. The letter must be a formal, signed letter dated within the last six months, on letterhead, and in English or with a certified English translation. This proof can come from various sources, including personal, family, friends, government, university, business scholarship, or employer funding. Any combination of funds is acceptable, but supporting documents are required for each funding source.
Students must also provide a bank statement or bank letter. Approved personal loans are considered a personal funding source. Additionally, documentation of approved university loans must be uploaded to the immigration document request.
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Scholarships and financial aid from SEVP-certified schools or other sources
International students can receive financial support in the form of scholarships and financial aid from SEVP-certified schools or other sources. SEVP stands for the Student and Exchange Visitor Program, which is a Department of Homeland Security (DHS) programme that oversees the Student and Exchange Visitor Information System (SEVIS).
SEVP-certified schools are US learning institutions that have applied for and received approval to enrol international students. These schools can issue Form I-20, "Certificate of Eligibility for Nonimmigrant Student Status," to admitted international students, who can then use this form to apply for a visa to study in the United States. To obtain SEVP certification, schools must make a legally binding commitment to comply with federal laws, regulations, and DHS requirements, which includes a financial commitment and strict adherence to reporting and record-keeping.
There are various scholarships available for international students at SEVP-certified schools. For example, Scholarships360 offers a $10,000 No-Essay Scholarship, as well as personalized matching to thousands of vetted scholarships. Additionally, the St. Mary Education Trust offers the Annual Sydney A. Phillips Scholarship.
Aside from scholarships, international students can also seek financial aid from their chosen SEVP-certified school. The College Scholarship Service (CSS) Profile is an online service provided by College Board that allows international students to apply for financial aid. Students must pay a small fee to create a CSS Profile, which is then accessible to member schools. The CSS Profile is more detailed than FAFSA and is available earlier, making it a good option for Early Action and Early Decision applicants.
Before applying for financial aid, it is important for international students to understand the total cost of applying and attending a university, with the help of a university financial aid office or admission counsellor. The Cost of Attendance (COA) is an estimate of educational expenses for a given enrolment period and is used to establish financial need and set a limit on the total aid one may receive.
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Frequently asked questions
A financial support form for international students is a document that outlines an international student's financial resources and ability to pay for their education and living expenses. It is typically required when applying for admission to a college or university in a foreign country.
The purpose of this form is to demonstrate to the educational institution and, if applicable, the country's immigration authorities, that the international student has the financial means to cover their tuition and living costs during their studies.
The information can vary but typically includes details such as the student's bank statements, proof of income, scholarships or grants received, and any other sources of funding, such as family support or personal loans.
The requirements can vary depending on the country and the educational institution. It is essential to contact the institution directly to inquire about their specific requirements and acceptable forms of evidence. Some common requirements include providing original financial documents, translations of documents, and sponsor letters confirming the financial support provided.
