Education in the united states is really costly. Tuition, board and room alone can cost a handsome amount around 20,000$ to 40,000$ annually depending upon the institute for undergraduate studies. The living cost for international students increases yearly and most international students find it very difficult to support themselves. Especially for an international student it may cost an arm and a leg since very less financial aid is available for them but with the right guidance, you can achieve your dream to get the education in your dream college.
What financial resources are available for international students?
Firstly, you ought to be aware of all the expenses which not only involves tuition, boarding, and food but also medical expenses, books and basic supplies, traveling within or out of the country etc. Determine a calculated cost of all these expenses and this will give you a better idea of seeking different financial resources to afford your education.
Also check: Bank statement for Australian Student Visa
Loans for international students
International students cannot apply for federal loans as they are reserved for us citizens and residents only so the only option left with them is to apply for the private loans provided that there should be creditworthy US cosigner present. In my view, getting a student loan may be hard but still, it does exist and require some effort to know where to find.
Family and relatives
Since international funding can be really competitive, your major financial resources depends heavily on the personal aid from your family and relatives. So if you are planning to study in the us make sure that it is affordable for your family and they can provide you financial support throughout your course of study.
Study and work in us
This is a really effective way helping you to bring the bills down as well as earn the good work experience. Visit internationalstudent.com to get further information about working together with earning a degree with effective work-study plans.
Your own country
Your own home country can be a source of your financial aid. Organizations or companies from your country or government can bear your expenses as an international student in USA. You need to thoroughly search for this option before availing it as it might involve stipulations like you need to return to your own country once you complete your graduation etc.
Scholarships for students
Scholarships can be need or merit-based. If you are accepted into us’s one the most elite institutes, chances are that they can provide you with scholarships because of the huge financial endowment. This is however really competitive and is entertained to applicants based on merit only.
International financial aid and college scholarship search (iefa) is a good information tool for you providing information about college scholarship, financial help and grant information for national or international students longing to study in the us.
Other ways to bring the expenses down
You need to think innovative in seeking other ways to achieve required financial assistance. A combination of different financial resources can provide you with the sufficient assistance. This can be possible if your thoughts are quite creative.
http://www.edupass.org/finaid/ is an effective online source helping you to pay and prepare for your college abroad. Hence, do a thorough analysis before shifting abroad for studies so you do not face any financial crisis in foreign land.