If you’re hoping to study abroad in the United States, you may be thinking to yourself, “How am I going to pay for it?” If that’s the case, then you’re in the right place. Keep reading for more information about financial aid for international students.
The first step is establishing a budget and figuring out how much you can spend on going overseas. In order to study abroad in the United States, part of the application process involves proving that you can cover tuition, housing, dining, books and more. To do this, you’ll need to fill out an International Student Certification of Finances form — the university you’re applying to will likely provide the form for you.
Types of financial aid
There are a few options when it comes to financial aid: federal loans, private loans, need-based financial aid and scholarships/grants. Unfortunately, most international students are not eligible for federal student loans via the U.S. Department of Education. (However, there are some cases where non-citizens are eligible for federal loans.) But again, there are other options.
As the name suggests, private loans come from private lenders, like Sallie Mae® — you may also be able to secure a private loan from a bank or credit union. If you apply for a private loan, you will most likely need a co-signer who is a U.S. citizen or permanent resident.
Another option is need-based financial aid — however, not everyone qualifies. To determine your eligibility, you’ll need to fill out the International Student Financial Aid Application, which will likely be provided by the university you apply to.
You may also be eligible for a scholarship or grant, also known as gift aid — unlike loans, you don’t need to pay back the money awarded. Scholarships and grants can be given for a variety of reasons, including field of study, heritage, hobbies, volunteerism and more. These monetary gifts often come from universities or private organizations — scholarships and grants awarded by universities are often merit-based, meaning based on academic achievements.
More about forms
Although international students aren’t eligible for federal loans, it’s still important that they fill out a Free Application For Federal Student Aid (FAFSA) form. The FAFSA is the form that’s used to determine eligibility for federal loans — but schools also use it to determine if international students are eligible for scholarships from the school or the state where it’s located. Since you don’t have a U.S. social security number, you won’t be able to submit the form online, but you can print out a copy or submit it via email.
Before you start filling out forms, contact the school(s) you plan to apply to so you can find out what forms they require. Also, the sooner you can submit your aid forms, the better — some financial aid is distributed on a first-come, first-served basis. Something else to look into: see if your home country offers financial aid to students studying abroad in other countries.
Need-blind vs. need-aware admissions
When it comes to financial aid and the admissions process, there are two approaches that schools follow: need-blind and need-aware. Need-blind means that universities will make admissions decisions without considering the applicant’s ability to pay; need-aware is when universities make admission decisions with an applicant’s ability to pay in mind.
Start your journey
Once you have your financial plan in place, you can start the more fun parts of the process — like choosing your school and program of study. It all starts with taking an English-proficiency exam to help you pursue your dreams. Taking the TOEFL iBT® test is a smart choice — it’s accepted by more than 11,500 universities and institutions in 160+ countries. Register today!
Check Out These Schools
Study in the USA와 미국에서의 모험을 시작하세요
미국 교육 자금 조달, 주택 등에 대해 알아보기
영어 학습을 다음 수준으로 높여 보시겠습니까? 세계 제1의 영어 및 중국어 학습을 위한 온라인 플랫폼인 TutorABC에 대해 들어보셨습니까? TutorABC는 글로벌 학습 기회를 제공하기 위해 혁신적 기술을 이용하는 최고의 언어 플랫폼으로 인정받고 있습니다. 업계를 선도하는 영어 교사와 첨단 자료를 갖추고 있어서 세계 도처의 학습자들이 그 어느 때보다도 언어 능숙도를 쉽게 성취하도록 해줍니다. 사용자 할인 코드: StudyUSA10으로...
독채 아파트, 원룸 아파트, 쉐어 룸, 1인1실 룸 등, 선택의 폭이 다양하며, 개별 학생 어드바이저로부터 24x7 언제나 도움을 받을 수 있습니다. 지금 예약하세요!
MPOWER Financing (엠파워파이낸싱)은 톱 랭킹의 융자 기관으로, 보증인, 담보, 신용 이력이 없는 글로벌 시민인 유학생들에게 재정 지원 및 커리어 자문을 제공합니다! 온라인으로 신청 가능하며, 96%의 고객만족도를 기록한, 엠파워파이낸싱에서 학자금 융자를 받으세요!