Sources of Financial Aid in US for International Students

International students search for financial aid opportunities to help them pay for the expenses associated with applying to and attending US universities. For overseas students studying in the US, there are several financial aid options available that can lower their application, entrance exam, tuition, SEVIS, travel, and living expenses costs as well as their costs for medical insurance and other expenses.

International students’ only option to reduce the cost of studying in the US for connected fees is to apply for scholarships; if they are not awarded, they can take out school loans. Indian and foreign students can apply for federal help through the FAFSA if they have outstanding citizenship applications with the US Department. The final choice is to apply for student loans with the most affordable interest rates. The article clarifies the financial aid options available to international students in the US.

Types of Financial Aid for International Students in USA 

International students can finance their education in the USA from a few different sources, which are as follows:

FAFSA for International Students  

While the Free Application for Federal Student Aid, or FAFSA, is a free application, it does not tell you whether you are eligible for federal aid if you are a US citizen or not. Federal aid in the United States is money given by the federal government or state governments of the country. Even though the FAFSA isn’t available to students from outside the country, some Indian students may still be able to apply for help if they meet the requirements for non-citizenship. For further information, see FAFSA for Indian Students. Federal assistance recipients are able to:

For students who are not eligible for federal help, there are two kinds of scholarships available in the US: university-funded scholarships and government-funded scholarships. International students who are not eligible for federal help in the United States may submit an application for institutional funding provided by US universities in general.

While not every overseas student is qualified for scholarships, those who do stand a chance of receiving financial aid in the form of scholarships to help pay for their education in the United States.See what kinds of scholarships are available to foreign students in the USA:

Need-based Scholarships in the US

Need-based scholarships are financial aid programs available to students who have limited financial resources and cannot afford to pay for their studies in the United States. Approximately 20 US colleges provide need-based scholarships to international students, even though they are only available to local students.

• University of Southern California
• Cornell University
• Northwestern University
• Columbia University

Need Blind Scholarships in the US

International applicants wishing to enroll in US universities are also awarded need-blind scholarships, which are different from need-based scholarships. Applying for need-blind scholarships does not negatively affect financially sound students, regardless of whether their funding request is approved.

Regardless of whether they are eligible for the need-blind scholarship, the international student’s financial situation will not prevent them from being accepted into the US university in this instance. Only five US institutions and colleges currently provide need-blind scholarships to international applicants, and they are as follows:

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

While full free ride support is not guaranteed by need blind scholarships, assistance with overseas students’ tuition costs will undoubtedly be provided. Due to a lack of money, few students are also awarded need-blind scholarships.

Merit-based Scholarships in USA

In the USA, academically deserving students can apply for merit-based scholarships. Additionally, exceptional SAT and ACT scores are eligible for merit scholarships. For overseas students, merit-based scholarships are available at over 60% of US universities. These scholarships evaluate the GPA, standardized test results, high school performance, and exceptional academic qualifications of the overseas student.

It is not always the case that the scholarships come with 100% tuition exemptions for international students attending US universities, as many of them do. Look into some of the US Universities that provide full or partial financial aid to international students.

• Harvard University
• Iowa State University
• American University
• Illinois State University
• University of Central Arkansas

General Scholarships Offered in USA

Some scholarships are available at US institutions for international students, and they may be for exchange programs, leadership development, or recognition of the applicant’s community service or contributions. The following are a few of these scholarships:

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

External Scholarships for Studying in USA

There are outside organizations that provide scholarships to foreign students to study in the USA in addition to the US government-backed Foreign Fulbright Student Program and Humphrey Fellowship Program. Here are a few scholarships that are supported by outside organizations:

• Pan American Fellowship
• Leo S. Rowe Pan American Fund
• The Margaret McNamara Memorial Fund
• Hani Zeini Scholarship

If a foreign student want to study in the US, there are numerous external scholarships available. Students should take caution while selecting the best alternative in the long term because only one scholarship—rather than many sources—will be taken into account for tuition waivers.

Educational Loans in the US

International students who meet the requirements for federal help as determined by their FAFSA scores are eligible to apply for low-interest loans. If an individual is not qualified to apply for federal help through the FAFSA, they can still apply for an education loan in their home country to study in the United States. When applying for student loans, Indians have a choice between public and private banks. Top Indian lenders for school loans include the following:

• HDFC Bank
• ICICI Bank
• SBI
• Canara Bank

With collateral for education loans—which is frequently required for submission—students can obtain an education loan that will cover their tuition costs up to 40%.

How to Apply for Financial Aid in USA? 

Scholarships that are externally sponsored can be applied for through their official websites or at the relevant US colleges. Due to the fact that not all overseas students are able to file the FAFSA, students must either apply separately for scholarships or be automatically considered for them when they apply for admission to US universities.

The financial papers and admissions applications that overseas students provide are frequently used to determine the requirements for financial help. International students could be eligible for an institutional scholarship or not, depending on their financial resources and family’s financial situation.

International students may attempt their option of applying for externally financed scholarships, the applications for which are available on the agency’s website or the university website, if institutional Scholarships are not available to them. Application steps are usually as follows:

• In your admissions application, indicate if you would like financial assistance, or apply separately.
• If you are applying individually, make sure you fill out the application form, either online or offline, by printing it out, filling it out, and mailing it to the university.
• Check if further financial evidence has to be added and submitted in the end.
• Although these financial aid applications for US universities are essentially free, there may be additional fees associated with using outside resources.

Therefore, financial aid for foreign students studying in the US is widely available to them, whether they are sponsored by the government or not, through institutions or other sources.