Financing education in the U.S.
Tuition, fees, and living costs vary greatly between institutions; hence, it is important to decide how much the student wants to spend on education abroad. It is advisable to check websites of the universities to investigate the options which exist for financing higher education. Following are the sources a student may consider for making financing decisions:
Following are the options available for students to finance their US education, explained by Education USA
- Assistantship: Student will work for the institution in research, teaching, and/or office administration. In turn, the student will be provided a tuition waiver and stipend for living expenses. Assistantships can be very competitive and more funding will be available in the fields of science, technology, engineering, math (STEM) and other research-based fields.
- Fellowship: Student will be offered a grant to cover costs while earning a doctoral degree. This grant may cover tuition, fees, and/or living costs in part or in full. Fellowships are also very competitive and more funding is available in the fields of science, technology, engineering, math (STEM) and other research-based fields.
- On-campus Employment: Current U.S. immigration regulations allow international students to work up to 20 hours per week on campus while school is in session, and up to 40 hours per week during school vacations or breaks. You will need to learn more about job opportunities and specific requirements for international students on your college or university campus. On average, students can earn between US$2,000-$3,000 per year for personal expenses.
- Student Loan: You might be able to find a loan to pay for part of your educational costs from a bank or lender in your home country. Some U.S. loans may be available, but they may have added requirements. These may need a US citizen co-signer. Students are advised to get in touch with the schools they are applying to, to check if any partner financial institution is offering loans to students at competitive rated with fewer requirements.
- U.S. Government or Private Sponsor: Limited funding opportunities are available from the U.S. government for graduate students, and some funding may be available from private sponsors, such as U.S. organizations and corporations with scholarship programs for international students.
- Sources in Your Country: Funding may be available in your home country, either from the government, a university, or a private sponsor such as your employer or a private organization.
You can also check out the following sources for funding options:
www.internationalscholarships.com
www.iefa.org
www.guaranteed-scholarships.com
www.cappex.com/scholarships