Studying in the U.S. is very expensive and many qualified international students are unable to achieve their goal to study in the U.S. because of lack of funds.  There is very little financial aid for international students to study in the U.S., with the possible exception of citizens of Canada. Most grants, scholarships, and loans from public and private sources are restricted to U.S. citizen or permanent residents. A survey conducted by the Institute of International Education (IIE) showed that 67% of international students studying in the U.S. are funding their education through personal/family contributions.

    Source: Opendoors, 2001.

Budgeting: Calculate the Expenses
You do not want to be stuck after you arrive in the U.S. You should therefore get an accurate estimate of the cost of your proposed study.  When figuring your expenses, be sure to factor in tuition, housing, food, clothing, fees, books, health insurance, travel to and from your home country and the U.S., local travel within the U.S., and communication. You can get a general idea about these expenses by looking at the information packet provided by the school. This information is also available on the school’s website.

Sources of Financial Aid
Because sources of financial aid to study in the U.S. are extremely limited, you will have to be resourceful and explore every possibility. Start by visiting the U.S. educational advising center in your country, usually located within the embassy office.  There, you can ask to speak with an official who will give you up-to-date information on all you need to know.  The center has general reference materials with information on scholarships and grants, available to international students wishing to study in the U.S. They may also organize special lectures on admissions and funding possibilities, you can attend.

Assistance from Your Family
Your family is your best bet for money to finance your U.S. education. You will need to rely on your own assets, your parents’ money, and contributions from relative and perhaps, friends.

Aid from Your Home Country
One of the best sources of financial aid to study in the U.S. is organizations in your own country. Your home government may have financial aid available. The ministry of education will have information about this opportunity. There may also be private organizations in your home country that provide support for study in the U.S., such as businesses, foundations, and religious groups.

Aid from U.S. Educational Institutions
International graduate students have significantly more opportunities for financial aid from U.S. education institutions than their undergraduate counterparts. This aid, usually in form of teaching and research assistantships, is nevertheless limited. The assistantships are awarded based on academic merit, and not financial need, and usually involve a tuition award and some sort of salary in return for teaching or research duties.

Aid from International Organizations
Some international organizations such as the United Nations and World Bank, offer scholarships and grants to international graduate students pursuing degrees in specific fields to study in the U.S. These awards are extremely competitive and most require that you apply from your home country, so you may not be eligible if you’re already in the U.S.

The U.S. government also awards Fulbright scholarships to over 5,000 graduate students worldwide annually. Fulbright students are nominated by their home government and are required to return home on completion of their studies. International professionals can also get the Hubert H. Humphrey Fellowship to study in the U.S. for a year. Information about these programs can be obtained at the U.S. embassy or consulate in your country.

Aid from Private U.S. Organizations and Sponsors
There is very little financial aid for international students available from private sources, such as foundations and individual sponsors. To discover what is available, search the free scholarship and fellowship databases available on the internet, such as FastWeb. Some services charge a fee to search their database. Be careful before you pay for such service. Chances are it will turn up what you’ve already found using the free services.

Another option is to contact your national or ethnic association in the U.S. if any exist. They may have scholarship programs specifically for students of your ethnicity or national.

Loans for International Students
A few U.S. banks will offer student loans to international students if the loan is co-signed by a creditworthy U.S. citizen or permanent resident, who has resided in the U.S. continuously for at least two years prior to your applying for the loan.

Some banks will also offer student credit cards to international students. You must have a social security number (SSN) before you can get this credit, but the amounts are usually small, between $200 and $500, and have high interest rates. This might be tempting, but be careful with credit cause you can get into serious debt.

Employment
Do not count on being able to scrape up the funding for your education after you arrive in the U.S. First, there are numerous restrictions on employment of foreign nationals, and some types of visas prohibit it entirely. Though international students on an F-1 visa are permitted to work, they are limited to on-campus employment only, and can work no more than 20 hours a week during the semester and 40 hours a week during summer vacation, provided you will be returning to school the following semester. Second, on-campus employment are also limited and even if you are able to find work, you will not be able to get a job that pays well enough to cover all your expenses. The typical on-campus job will pay just between $7- $9 per hour, which brings your monthly pay to $560-$720 per month before taxes. This amount will at best cover your living expenses, but no more.

After your first year of study, you may be permitted to work off-campus. You will nee to get the Immigration and Naturalization Service’s (INS) authorization to accept this kind of employment. Authorization is often granted if the student is experiencing unforeseen, severe economic hardship, due to major currency fluctuations, loss of financial aid, or unexpected changes in the student’s source of financial support. Inability to secure on-campus employment is usually not regarded a good enough reason to seek off-campus employment. If given, the employment authorization will be valid for a year, after which it will be up for renewal, which may or may not be granted.

Useful Resources
Following is a list of publications and web sites to explore for funding opportunities.  The books can be purchased online or ordered directly from the publisher.

1. Funding for U.S. Study: A Guide for International Students and Professionals
This book feature detailed descriptions of more than 600 fellowships, grants, scholarships and paid internships for undergraduates, graduate students and postdoctoral as well as working professionals.  The book is arranged by country of origin of applicants; indexes organize the awards by sponsoring institution, field of study, academic level and type of award, amount of support, destination institution/country, and any special conditions.

2. Annual Register of Grant Support
This comprehensive reference is organized by subject area and offers information on both traditional (corporate, private and public) and non-traditional (educational associations and unions) sources of funding.

3. Barron’s Complete College Funding Guide
This book explicitly states that it is useful for international students.  Offering basic financial aid information, it also describes the following types of programs: federal, state, school, employment, military, minority, women and handicapped.

4. Grants Register
This guide offers a comprehensive list of programs.  They are organized alphabetically with special attention to eligibility requirements, and are indexed by subject.

5. Foundation Grants to Individuals
This guide offers descriptions of a wide range of grants for individuals.  It is comprehensively indexed by subject, type, geographic area, sponsor, educational institution and foundation name.  It also includes an annotated bibliography.

1. International Scholarships
International Scholarships is the premier Internet financial aid resource for international students. The site has a comprehensive listing of grants, scholarships, loan programs, and other information to assist college and university students in their pursuit to study abroad.

2. FastWEB
This site generates a personalized list of awards based on criteria selected by the user. It is about the most comprehensive online source of scholarships for international students.

3. Edupass
Contains vital information about financial aid specifically for international students. It provides information on types of scholarships, sources of scholarship, and tips for applying.

4. IIE Online
The Institute of International Education’s website provides guidance information on the USIA Fulbright graduate fellowships and other IIE-administered programs.

5. Rotary International
Rotary Foundation has scholarship opportunities for eligible applicants from around the world.

6. USIA
The United States Information Agency site gives a comprehensive listing and description of all USIA programs.

7. FreSch! Scholarship Information
This site provides information about scholarship opportunities for college-bound and graduate students.  It provides tips for applying for scholarships and has a section for international students.

8. Study Abroad
Comprehensive online directory of study abroad & international education. It includes college undergraduate semester, year-long and summer programs, intensive language and experiential programs plus high school & graduate study.