Financing

 

Financing Your Study

One of the first things to consider once you have chosen a possible academic area of study and a list of universities or colleges that seem like a good fit will how you will cover the costs of attendance.

Plan to have this conversation early on with your university or college contact person. Ask for the "total cost of attendance" information, which will provide you with an estimated breakdown of the projected costs of attending your chosen institution. Note that these are only projections and what is included may vary by institution, so ask questions about details, such as how many academic credits are allowed each term, how many term periods are included (e.g., semesters - 1,2,3; are costs for 12 months or 9 months; etc.)

The U.S. government does not provide loans, grants, or general scholarship assistance for international students. However, the following items may help you think through other resources available to you.

  • Personal funds - Regardless of the amounts of financial assistance or aid you may receive from your eventual institution of choice, personal sources of funds are important to consider. As your funding from other sources fluctuates or the amounts you receive may vary, you will always be expected to have a basic source of personal funds available to you to minimally cover your personal expenses and the cost of attendance. Funding must be available in liquid forms, i.e., not to include assets like property or investments.

  • Your home country education authorities - Many countries offer foreign study funding for their own nationals who are admitted to an approved program or institution abroad and who qualify for the assistance program.

  • The university or college international admissions office - Many U.S. academic institutions provide some form of assistance on finding financial resources that their institutions may be able to provide.

  • Scholarships and grants - Private foundations, businesses, and nonprofit organizations offer scholarships and grants for study and research. Here are several tools available for international and all students to use: U.S. government free online scholarship search tool, EducationUSA, and the Institute for International Education resource for searching for grants, scholarships and other funding for study in the US

  • University/College partnerships with universities in your country - Many universities in the US have partnership agreements with sister universities or colleges around the world. Some of these degree relationships may include mutual financial agreements.

  • Exchange programs administered by the U.S. Government - The US government in partnership with universities, colleges, and other organizations around the world offers a limited range of exchange programs, including the Fulbright Program and others at all education levels. These programs often provide limited levels of assistance to qualified international students. Some of these programs require that you apply in your home country for participation others may vary depending on the nature of the program.


Remember to always keep in touch your university or college contacts for additional assistance.