Sources of Financial Aid in US for International Students

To cater to costs related to applying to US universities and studying there, international students look for options which help them in covering their finances. There are various sources of financial aid in the US for international students which can either help them reduce their costs for application fees, entrance test fees, tuition fees, SEVIS fees, travelling in and out of the USA, cost of living in the USA and, medical insurance along with personal expenses.

To curb the costs of studying in the US for related expenses, the only option international students have is to go for scholarships, if not scholarships then education loans. If Indian or international students have citizenship applications pending with US Department, they can apply through FAFSA for federal aid. The last option is to go for educational loans at the lowest possible interest rates. The article throws light on the sources of financial aid in the US for international students.

Types of Financial Aid for International Students in USA 

There are a couple of sources through which international students can fund their education in the USA, and they are as follows:  

FAFSA for International Students  

Though FAFSA or Free Application for Federal Student Aid is a free-of-cost application to determine whether a US citizen or eligible non-citizen of the US is eligible to get federal aid. In the US federal aid is funding provided through either the central government or state government of the US. though FAFSA is not for international students, but some Indian students can get aid through FAFSA if they qualify in the eligibility of non-citizen category. Find more details at FAFSA for Indian Students for more details. Those qualifying for federal aid can: 

• Cover tuition costs through need-based scholarships. 
• Can be eligible for grants, which are not supposed to be repaid. 
• Also, educational loans can be another option which is available at low-interest rates. These are supposed to be returned after completing graduation. 

Scholarships in the US 

There are two types of scholarships in the US for those who do not qualify for federal aid in the US - government-funded scholarships and university-funded scholarships. Those international students who do not qualify for federal aid in the USA can apply for institutional aid which is offered by US universities at large.  

Not all international students are eligible for scholarships but if the student is meritorious he/she can get some funding in the form of scholarships to fund education in the US. Check out the types of scholarships in the USA for international students: 

Need-based Scholarships in the US

Need-based scholarships are those financial aids which are offered to students who come from a financially weak background and cannot afford to study costs in the USA. Though need-based scholarships in the US are reserved for domestic students, however, around 20 US universities offer need-based scholarships to international students as well.  

The US universities offering need-based scholarships are as follows: 

Need-based Scholarships Offered in US Universities for International Students
University of Southern California	Cornell University	Northwestern University
California State University Los Angeles Campus	Columbia University	University of Texas at Arlington
Pittsburg State University	Wheaton College	Oregon State University
Johns Hopkins University	Texas A & M University	University of Alabama at Birmingham
Iowa State University	The University of Utah	University of Houston

The above-given universities either offer need-based funding directly to international students or in partnership with external scholarship-offering agencies. Find the full list of need-based scholarships in the USA if applying for higher studies in the USA.  

 

Need Blind Scholarships in the US

Unlike need-based scholarships, there are also need-blind scholarships which are offered to international students applying for US university admissions. Students who are financially sound and apply for need-blind scholarships are not disadvantaged if or not their funding request is accepted.  

The international student’s financial background will not be a hindrance in their acceptance at the US university in this case, whether or not they qualify for the need-blind scholarship. At present, there are just five US universities and colleges which offer need-blind scholarships to international students, and they are as follows: 

• MIT 
• Harvard University 
• Yale University 
• Princeton University 
• Dartmouth College  
• Amherst College

Need blind scholarships do not promise full free ride funding, but definitely some help will be offered to cover the cost of attendance of international students. Also, need-blind scholarships are not offered to a lot of students as funding is limited.  

Check out: Universities in USA with no application fees.

Merit-based Scholarships in USA

Merit-based scholarships in the USA are offered to academically deserving students. There are also merit scholarships for exceptional SAT and ACT scorers. Around 60% of US universities offer merit-based scholarships to international students. These scholarships assess the international student’s GPA, high school performance, standardized test scores and exceptional qualifications academically. The top 10 US universities offering merit-based scholarships to international students are as follows: 

US Universities Offering Merit Scholarships to International Students	Scholarship Name	Scholarship Amount
Harvard University	Harvard University Scholarships	Full or Partial Tuition Fee Waiver
Illinois State University	Presidential Scholarship	USD 48,000 (renewable for 3 years)
Iowa State University	International Merit Scholarships	USD 16,000 - USD 40,000
American University	First-Year Merit Scholarships for International Students	USD 20,000
UMass Dartmouth	UMass Dartmouth International Merit Scholarships	USD 10,000 - USD 15,500
University of Central Arkansas	University Of Central Arkansas Out-of-State Tuition Scholarship	USD 7,000 p.a.
University of Iowa	International Student Scholarship	USD 500 - USD 1,000 p.a.
University of Minnesota	Global Excellence Award	USD 15,000 p.a.
University of Wisconsin	Non-resident Tuition Waiver	USD 7,000 - USD 8,000 p.a.
University of Oregon	UO Excellence Awards	-

Since a lot of universities offer scholarships to international students in the US, it is not always mandatory that the scholarships will be 100% waivers for tuition fees. Check out some of the US Universities Offering Financial Aid to International Students either partially or fully. 

General Scholarships Offered in USA

There are other types of scholarships offered at US universities for international students which address the applicant’s leadership qualities or recognise their contribution towards the community or even for exchange programs. Some of these scholarships are as follows: 

• International Student Emergency Tuition Award - MSU 
• Emerging Global Leader Scholarship - American University 
• Global Sparton Leadership Award - MSU 
• Athletic Scholarships for International Students 
• Global Maverick Access Scholarship - Minnesota State University 
• American Association of Women (AAUW) International Fellowships - MSU 
• Scholarships for Women from Underrepresented Communities  

Check: How to Get Scholarships in USA for Study 

External Scholarships for Studying in USA

Apart from the US government-backed scholarships - Foreign Fulbright Student Program and Humphrey Fellowship Program, there are external agencies offering scholarships to international students to study in the USA. some of the external agency-funded scholarships are as follows: 

• Pan American Fellowship 
• Narotam Sekhsaria’s Scholarships 
• Leo S. Rowe Pan American Fund 
• Hani Zeini Scholarship 
• The Margaret McNamara Memorial Fund 
• Tata Scholarship 
• Ritchie-Jennings Memorial Scholarship Program 
• QS Undergraduate Scholarship 
• Women Techmakers Scholars Program 

There are a plethora of scholarships available for international students externally as well if going to study in the US. Students must note that only one scholarship will be considered for waiving costs of tuition and not multiple sources, thus exercise caution while choosing the right option for the long run. 

Read about How & When to Apply for Scholarships? 

Educational Loans in the US 

Eligible international students qualifying for federal aid through FAFSA assessments can apply for a loan at low-interest rates. But those who are ineligible to apply for federal aid through FAFSA can apply for an education loan in their respective countries for study in the USA. Indian students can opt between private or public banks for education loans. Some of the top education loan providers in India are: 

• HDFC Bank 
• SBI 
• ICICI Bank 
• Canara Bank 

The students can get an education loan to cover their tuition costs for up to 40% which is possible through collateral for education loans which is mandatory for submission in a lot of cases. 

In case more assistance is required, Indian students can apply to some of the top education loan providers through Shiksha Study Abroad, by signing up here - https://studyabroad.shiksha.com/apply-education-loan. 

How to Apply for Financial Aid in USA? 

Financial aid can be applied at respective US universities or the official websites of externally funded scholarships. Usually, a FAFSA is required at the time of admission application at US universities, since not all international students can submit FAFSA, the students are either automatically considered for a scholarship or they have to submit separate applications for the same. 

In a lot of cases, international students are assessed for financial aid requirements through their admission applications and financial documents that they submit. Based on the financial resources and family’s financial position international students may or may not be considered for an institutional scholarship. 

If institutional scholarships are unavailable for international students, they can try their option of applying for externally funded scholarships, applications for which would be available through either the university website or the agency website. Steps for application are common: 

• Either express interest in financial help in your admission application itself or apply separately. 
• If applying separately check how the application needs to be filled - either online or offline by taking a printout, filling it up and sending it to the university. 
• Finally, check if more financial proofs are to be attached and submit. 
• More or less these financial aid applications t US universities are free of cost, but external sources may incur some extra costs.  

Thus, financial aid for international students in the US is available at large for international students, either institutionally or externally and either government funded or non-government-funded. For more assistance, students can sign up for free counselling at - https://studyabroad.shiksha.com/apply