Financial Aid And Scholarships For International Students

There tends to be very little financial aid available for international students wishing to study in the United States. The only exceptions to this rule are possibly Canada and Mexico since most scholarships require that students be U.S. citizens in order to be eligible.

International students should begin the process by researching schools that do provide financial aid and school grantsto undergrad students like themselves. You can find a somewhat lengthy list of these schools here. All of these institutions have an award that covers at least 1/5 of total tuition whether by scholarships, grants, or jobs. Requirements include financial need and merit. Choosing to attend one of these schools guarantees that you have a feasible shot at one of the limited scholarships within your reach.

In your search, do not waste money on services that promise to match you with scholarships. Most of these will be restricted to those with a U.S. citizenship or permanent residents as well. Visit FinAid.com and FastWeb.com instead to search scholarships for free. FastWeb, in particular, will have plenty of information on funds available to international students.

At iefa.org the International Education Financial Aid allows you to search 870 awards, scholarships, and fellowships for international students. ScholarshipsCanada.com has a choice of 17,000 scholarships and prizes. If you are a European student, you qualify to apply for scholarships at Stod and Stipendier AB, a Swedish-based scholarship search service. The site does, however, charge a fee so be prepared for this should you choose to use them. In addition to their own collection of grants and funds, SOS AB has access to numerous American, Scandinavian, and European based databases.

Several loans are available to aid international students’ education expenses. The Global Student Loan Corporation works through banks in the student’s home country to provide financial assistance. The International Student Loan Program allows a student to borrow up to the full cost of tuition. This can significantly simplify the financial aid process. Norwest Bank provides loans for international students seeking a graduate degree in business or medicine. The TERI Professional Education Plan Loan is another that provides monies for those pursuing graduate and professional study.

Although the Free Application for Federal Student Aid (FAFSA) only applies to U.S. citizens, it is oftentimes still necessary that international students complete the form. This is because Financial Aid Offices will need to access the data on the form in order to process any institutional awards. To ensure that you are filing the FAFSA correctly, contact your school to inquire about the specifications they require for your distinctive case.