• Planning Ahead
• Calculating Your Expenses
• Financing Your Education
• Financing Undergraduate Studies
• Financing Graduate Studies
• Other Scholarships & Grants

Financing Undergraduate Studies

In searching for financial aid as an undergraduate, consider that the chances of gaining financial assistance are much better at the graduate level.

AID FROM U.S. COLLEGES AND UNIVERSITIES

Most of the limited financial aid for undergraduates from US sources comes from colleges and universities themselves. In some cases students from abroad compete with American students for limited financial aid. The following types of financial aid are available at American Colleges:

• MERIT-BASED SCHOLARSHIP is based on academic qualifications irrespective of need. The student has no work or repayment obligations.
• NEED-BASED SCHOLARSHIP is based on financial need but usually in conjunction with academic achievement. The student has no work or repayment obligations.
• ATHLETIC SCHOLARSHIP is generally based on the athletic ability of the applicant but is not completely irrespective of academic performance.
• PART-TIME CAMPUS EMPLOYMENT the student is able to earn money by working on campus for a certain number of hours per week. Some schools require all students to take on-campus jobs, thereby reducing the overall cost of education at that university. Sometimes the International Student Office can help foreign students find jobs on campus consisting of up to 20 hours per week. The position must not displace a US citizen or permanent resident. These jobs, however, do not pay high wages.
• COOPERATIVE PROGRAMS allow students to alternate periods of full-time study with full-time work. When a period of employment is required for the degree, foreign students (except M-1 visa holders) can work legally to defray part of their expenses by participating in such a program. The work generally begins at the end of the sophomore year and adds one year to a 4-year degree. Cooperative programs that incorporate several short periods of employment alternating with periods of study usually do not admit foreign students; look for programs with one or two extended periods of employment. Whether or not cooperative work assignments actually pay a significant part of study cost varies from program to program.
• UNIVERSITY LOANS Students receive loans which are expected to be repaid after graduation. Foreign students are not usually eligible for loans.
• ADVANCED STANDING if a student qualifies, s/he can apply for advanced placement at the institutions s/he wants to study at. This does not constitute financial aid in the true sense of the word but is a means of cutting down on costs of the program by reducing its duration (i.e.: a student needs to make up fewer credits to graduate).

HOW TO COMPETE FOR FINANCIAL ASSITANCE

Start the application process early and talk to your EducationUSA adviser about your progress. Calculate your financial need at the beginning of the research process.

How much can your family afford to pay, per year for four years?

Keep in mind that you cannot select suitable universities or qualify for need-based aid unless you know the answer to this question, because financial aid calculations are based on bridging the gap between the university's cost and what your family can afford to pay.

Research options by careful selection of 10 - 20 schools that match your needs and potential. Remember: Don't ask for more than you genuinely need.

Each school has its own budget and policy. After extensive online research, contact your top schools directly about financial assistance.

Distinguish yourself in a highly competitive applicant pool with:

• ultra-careful selection of schools where you have a realistic chance for successful competition for admission with aid;
• distinguished academic record, excellent SAT/ACT and TOEFL/IELTS scores, if required;
• leadership and extra-curricular interests;
• great essays;
• neat and complete application.
• The early bird gets the worm!

Your EducationUSA adviser can teach you how to select schools and research sources of financial aid. Ask: What else can I do to strengthen my application?

For the 2008-2009 academic year, The College Board reported the following average annual tuition costs by type of institution:

• Two-year, Public Community Colleges: $6,500
• Four-year, Public Institutions (out-of-state students): $17,452
• Four-year, Private Institutions: $25,143

These costs represent the cost of studies alone; when lodging, personal expenses, transportation, and other expenses are taken into account, The College Board suggests the following annual student budgets:

• Two-year, Public Community Colleges (commuter students): $14,054
• Four-year, Public Institutions (state residents; on-campus): $18,326
• Four-year, Public Institutions (out-of-state students; on-campus): $29,193
• Four-year, Private Institutions (on-campus): $37,390 --