Financing Your U.S. Study

Plan ahead

While it is expensive to study in the United States, please remember that

The value of your U.S. degree is worth the investment
There is no correlation between the level of tuition and the quality of an institution
Costs vary widely from university to university and place to place
Planning for financing your study should be done before you submit your applications to the university
Pay attention to deadlines for admission as well as university-sponsored scholarships

Calculating expenses

Tuition – the cost of instruction is generally charged as a single amount for the term (semester/quarter). Some universities, and many graduate programs, based their fees on the number of credits students take
Fees
- Health insurance
- Student activity fee that gives students access to the library, health center and campus activities
- Out-of-state fees charged by public universities to ALL students who cannot prove they are residents of that particular State
Living Costs
- Room and board, transportation, books and supplies Sources of funding
Personal & family funds. Talk with your family about how much money they can give you for your education.
Private sponsors.
- In most cases, you will have to have a connection with the sponsoring organization (local company, Rotary Club, religious group) for them to sponsor your studies
Loans.
- Loans come from government banks or private sector banks. A guarantor may be required. Interest rates are low and repayment begins after graduation
Employment.
- Current immigration regulations permit non-U.S. citizens to work part-time (less than 20 hours a week) on campus. These jobs (in the cafeteria, bookstore, library, etc.) will give you some spending money. Permission to work off campus MAY be granted after your first year of study

While the terms "scholarships" and "financial aid" are often used interchangeably, there is a technical difference
A scholarship is a financial award based on merit, special talent and/or leadership qualities
Financial aid is based on financial need that must be documented. In most instances, colleges and universities only offer scholarships to outstanding students
Only the most prestigious, competitive and wealthy U.S. universities are able to offer significant funding for outstanding students
Most public universities do not offer scholarships to international students. You must submit all documents (application, test scores, etc.) BEFORE the deadline

Graduate awards come directly from the departments rather than the university and they fall into three categories:

Merit Awards - for students with exceptional academic ability
Research Assistantships – for students who will conduct research during their stay
Teaching Assistantships – for students who will teach sections of undergraduate courses. For these awards, the ability to speak and teach American students in English is essential.

Look for "best buys"; i.e., colleges and universities that offer a quality education at a reasonable cost
Consider public universities
Earn transfer credit locally and shorten your stay in the U.S.
Study in the Midwest and/or in a rural part of the country where the living costs are significantly lower than urban areas and the east and west coast