Financial Aid for International Students – To increase diversity & welcome new perspectives, there are more & more colleges that accept international students. So, there are more international students who are looking to study in the US. However, studying in the US requires a lot of money. Fortunately, there are many colleges with financial aid for international students.
Approaching Financial Aid as International Students
The process of financial aid is complicated for an American student, moreover the added paperwork to apply as an international student. To begin, you need to estimate the true or total cost of the school by considering the full price tag, including board, room, and tuition.
Read More : What Is Sohanjit Finance
1.Scholarship
You also have to research scholarships. You can find the U.S. universities with financial aid for international students easily. Remember that the requirements of scholarship for test scores, GPA & other factors are often high.
Some scholarships are based on needs. It means that the colleges give their students scholarships based on their financial circumstances. However, some colleges give scholarships to their students based on merit.
2. Financial Aid
You should also familiarize with the terms need-blind & need-aware. For your information, need-blind is where the college does not take your financial situation & if you will need financial aid into account when they make their admissions decisions.
On the other hand, need-aware means that your need for financial aid is a factor. In fact, there are many colleges that are need-blind for American students. However, they are need-aware for international students.
International students don’t meet the requirements for federal work-study. However, some colleges offer work-study programs that you may qualify for. You have to remember the requirements of your student visa. In fact, you may be restricted from work.
3. Financial Aid for International Students – Other Alternatives
When it comes to colleges with financial aid for international students, you should also consider different paths if the college cost is a readblock. For example, you can start at a cheaper transfer and community college. Then, you spend less time & fewer tuition dollars and graduate with a degree.
Read More : Onemain Financial Near Me
Types of Financial Aid for International Students
Whether you are for the first time attending college or are pursuing an advanced degree, paying for supplies, tuition, or other costs related to college may be a daunting process. Fortunately, you can find public universities that give financial aid to international students.
1. Financial Aid for International Students – Grants & Scholarships
These belong to free aid or gift aid. It means that you don’t need to pay them back. That’s why many students are looking for these options. The primary difference between a grant & a scholarship is the source of the find, criteria of eligibility & the process of application.
Generally, colleges give grants based on financial-need. On the other hand, colleges give scholarships based on merit. Besides that, colleges may also award scholarships to those based on the students’ academic achievement, field of study, extracurricular activities,etc.
2. Loans
Loans belong to the more commonly-used financial assistance type. The difference between a grant/scholarship and loans is that they are not free. So, you need to repay them with interest.
Financial Aid Grants for College
As we have mentioned before, you can easily find colleges with financial aid for international students. Usually, grants are for students with a financial-need, with funds that mostly come from the state & federal government. The requirements for a grant may include disability status, cost of the school, and family income & status.
There are a few benefits of college grants. First, you don’t need to repay grants, assuming you meet the requirements. Besides that, there are fewer options of grants than scholarships. In fact, most grants are based on financial-need.
Then, you can also get more than one grant. It depends on your own field of study, financial need & other qualifiers. In addition, there are limited funds to provide & grants can be very competitive.
Moreover, grants provide chances & funding for students who come from low-income communities/families to pursue higher education. Furthermore, the process of applying for grants is more straightforward and simpler than scholarships.
Read More : Tips For Saving Money For Small Children
Scholarships for College Students
Scholarships also belong to great free sources of money for colleges. In fact, many schools, companies, non-profits & other organizations offer scholarships. For your information, scholarships are based on more than financial-need only. However, there are some kinds of scholarships based on some scenarios.
- Scholarship competitions
- Students of specific group or ethnicity such as the LGBT community or Native Americans
- Exceptional athletic performance
- Students who study an in-demand field
- Academic excellence
Before sharing further information about colleges with financial aid for international students, it is important to know about the pros of college scholarships. First, you don’t need to repay them, assuming you meet the requirements. Besides that, scholarships provide access to education to a larger number of students.
In addition, there are many more scholarships available than grants. One more thing, scholarships look great on a resume when you apply for a job in the future after you graduate.
Student Loans for College
Student loan is the next step. It is the most common financial aid form for college. Many students prefer federal loans as they have lower interest rates. Besides that, they offer flexible payments. Even more, they have some benefits such as deferred payments and loan consolidation.
Colleges That Offer Financial Aid for International Students
Below is a list of colleges that offer financial aid:
- Georgetown University offers avg. amount of aid $69,406 for 29 students
- Skidmore College offers avg. amount of aid 67,085 for 86 students
- Duke University offers avg. amount of aid 66,754 for 213 students
- Amherst College offers avg. amount of aid 66,093 for 135 students
- Williams College offers avg. amount of aid 66,066 for 94 students
- Haverford College offers avg. amount of aid 64,598 for 40 students
Financial Aid for International Students Actually, there are still many other colleges with financial aid for international students. Different colleges and types of financial aid may have different requirements. So, you have to make sure that you meet all the requirements. With financial aid, you can achieve your dream to pursue higher education.
About Author
