Obtaining Funding

OVERVIEW
There is generally more financial aid for students in the graduate level than in the undergraduate. Though the competition is very keen, financial aid is available for graduate study and research. Financial aid may come from either public or private institutions or private foundations and organizations. At a graduate level, students should apply for admission and financial aid directly to the department and department decides who will be accepted and awarded financial assistance.

Planning Ahead

1. Start your financial planning at the same time you begin choosing colleges -- at least 12 months before you wish to study in the United States.
2. Tuition costs vary from college to college. Private universities charge more than state universities, which in turn charge more than community colleges. Research actual costs very carefully.
3. Cost is not an indication of the quality of an institution.
4. Living expenses vary depending on location and your lifestyle.
5. Many colleges expect you and your family to fund the full cost of your education.
6. The main source of possible financial assistance is the college where you are applying; however, funds available for international students are limited, and full funding is very rare.
7. Financial assistance can be awarded as scholarships, grants, and, in some instances, through work-study or loans. Aid, if available, is usually based on merit, but sometimes on need.
8. Opportunities to work in the United States are limited and cannot be used as official sources of funding.
9. Talented athletes may try to obtain sports scholarships (see the next chapter for further details).
10. You can reduce the costs of your education in the United States in a number of ways; taking courses at community colleges and accelerated programs are just two examples.

Calculating Your Expenses

The main costs involved in studying in the United States are tuition, fees, and living costs. These vary widely, so if you explore several possibilities you can have some control over the cost of your education. All U.S. universities publish information on the costs of attending their institution and living in their area of the country. Consider the points outlined below in calculating your costs.

Tuition and Fees
Tuition is the cost of instruction, and fees are the costs associated with services such as the library, student activities, or the health center. International students are required to pay both tuition and fees. Some universities charge an additional fee for health insurance, which is usually mandatory for all students. Because tuition and fees vary from school to school and rise by an average of 5 percent each year, be sure to consult current college catalogs, websites, or reference materials (available at EducationUSA advising centers) for the latest figures. Be sure to confirm current costs with the institution at the time you apply.

Living Costs
Living costs vary widely and depend on individual lifestyles. Living expenses are highest in large cities, in California, and in the Northeast. Costs can be much lower in the South, the Midwest, and other areas. University catalogs and websites are a good source of information on current living costs. Within the total living costs they quote, you will usually find an approximate breakdown of costs for items such as room, board, books, medical insurance, and personal expenses. Your EducationUSA advising center may also have information on the latest monthly living expenses by city or institution.
When calculating your basic living expenses, remember to include the following in addition to food and housing

Books and Supplies
Colleges estimate the cost for books and supplies for the academic year. Students studying in the United States must buy their textbooks, and books can be quite expensive. Most institutions have on-campus bookstores. Many of these stores allow you to purchase used books at a lower cost, or to sell back your books at the end of a semester at partial value. If you are planning to study in a field that requires special supplies, such as engineering, art, or architecture, your expenses are likely to be higher than the average.

Transportation
The living costs quoted by most universities do not include trips between the United States and your home country. Be sure that your annual budget includes expenses for return travel between your home country and your college. If you plan to live off campus and commute, you should also include the cost of traveling to campus each day.

Other Personal Expenses
Personal expenses include the cost of basic goods, clothing, and services. Health insurance is required. If you have dependents (a spouse and/or children) or special medical needs, you will need substantial additional funds.

Financing Your Education

It is important to start your financial planning at least 12 months before you intend to study in the United States. Financing your graduate education consists of:

• assessing personal funds;
• identifying financial assistance for which you are eligible
• compiling effective applications (see chapter 4) and
• reducing educational costs.

Assessing Personal Funds

• How much can your family afford to pay, per year for four years? The more financial aid you need, the more competition you will face. Consult your parents and other family sponsors to find out how much money they can commit each year to your education.
• The Family Contribution: How Much?
  Calculated from parents income, assets, living costs, siblings in college, and special circumstances (illness, rich uncle...).

Identifying Sources of Financial Assistance

• Click here to learn about merit and need-based aid or see www.fundingUSstudy.org
• To learn about Athletic Scholarship,click here.

Compiling Effective Applications

• Careful advance research and realistic expectations are more likely to result in success.
• Do not assume that all colleges award financial aid.
• See Getting Started for useful search engines or talk with an EducationUSA adviser to develop a list of 10-20 schools that offer financial aid at the levels you need.

Reducing Educational Costs

• TIP: Did you consider accelerated programs by earning credit over the summer or taking additional courses each semester? This approach could reduce tuition costs.
• Two-year and Community Colleges: Many students save thousands of dollars in tuition by attending community colleges for their first two years and then transferring to four-year institutions to complete their degree. For more information on community colleges, please visit Community Colleges USA, the American Association of Community Colleges (AACC) official resource for international students: www.communitycollegeUSA.com
• See Getting Started for useful search engines or talk with an EducationUSA adviser to develop a list of 10-20 schools that offer financial aid at the levels you need.