Internespo > Guide > Scholarships > Financial Aid for Internationals

International students may be eligible for different types of financial aid, such as scholarships, assistantships, private loans or work-study programs.

Key Takeaways

• • There is financial aid available for international students
  • Research your eligibility around scholarships, assistantships, loans, or work-study
  • Make sure to speak with your school’s financial aid officer as soon as possible

What is Financial Aid?

Financial aid refers to the various forms of monetary support provided to students to help pay for their education. Financial aid can come in many forms, including scholarships, grants, loans, and work-study programs. The goal of financial aid is to make higher education more accessible and affordable, especially for students who may not have the financial means to pay for college on their own.

How do you determine Financial Need?

Financial aid is determined based on a student’s financial need, which is calculated by subtracting the expected family contribution (EFC) from the cost of attendance (COA) at a particular institution. The EFC is an estimate of how much a student and their family can afford to pay for college, based on their income and assets. The COA is an estimate of the total cost of attending a particular school, including tuition, fees, room and board, and other expenses.

Who offers Financial Aid?

Financial aid can come from a variety of sources, including the federal government, state governments, colleges and universities, private organizations, and corporations. To apply for financial aid, students typically need to fill out the Free Application for Federal Student Aid (FAFSA), which is used to determine their eligibility for various types of financial aid.

Financial Aid for Internationals

There is financial aid available for international students in the United States, although it is generally more limited than the financial aid available to U.S. citizens and permanent residents. International students may be eligible for the following types of financial aid:

1. Scholarships: Many universities and organizations offer scholarships specifically for international students. These scholarships can be based on athletics, academic merit, leadership, or other criteria. Especially for athletes, the US offeres a wide range of athletic scholarships.

2. Assistantships: Some universities offer teaching or research assistantships to international students. These positions typically include a stipend and may also include tuition and fee waivers.

3. Private loans: International students may be able to obtain private loans from banks and other financial institutions. However, these loans may have higher interest rates and more stringent eligibility requirements than federal student loans.

4. Work authorization: International students who are eligible to work in the United States may be able to earn money through part-time employment or on-campus work-study programs.

It’s important to research and understand the terms and conditions of any financial aid you’re considering, including any restrictions or requirements for maintaining your eligibility. Additionally, be sure to talk to your school’s financial aid office for more information on the financial aid options available to you as an international student.

Apply as International Student

As an international student, you can apply for financial aid by following these steps:

1. Research available financial aid options: Start by researching the different types of financial aid that are available to international students, including scholarships, assistantships, private loans, and work authorization.

2. Check your eligibility: Make sure you understand the eligibility requirements for each type of financial aid you’re interested in.

3. Contact your school’s financial aid office: Your school’s financial aid office can provide you with more information on the financial aid options available to international students and can help you understand the application process.

4. Complete the necessary forms and applications: Depending on the type of financial aid you’re applying for, you may need to complete forms, provide transcripts, and submit essays or letters of recommendation.

5. Gather supporting documentation: You may need to provide proof of financial need, academic transcripts, and other documentation to support your application for financial aid.

6. Submit your application: Submit your application for financial aid to your school’s financial aid office or the appropriate agency or organization.

It’s important to apply for financial aid as early as possible, as funding is often limited and applications are processed on a first-come, first-served basis. Additionally, be sure to follow any deadlines and requirements for submitting your application, and be prepared to provide additional information or documentation if requested.