How to Apply for Financial Aid in the US as an International Student

Studying in the United States is a dream for many international students seeking quality education and diverse experiences. However, the cost of attending a U.S. university can be a significant barrier for students no matter where they are from. In this blog post, we'll explore the process of applying for financial aid as an international student at U.S. universities.

Understanding Financial Aid Options

Before diving into the application process, it's important to understand the types of financial aid available for international students:

1.    Institutional Aid:  Aid which comes from the university itself, more common with private universities

Merit-Based Scholarships: These scholarships are awarded based on academic, athletic, artistic, or other achievements. They may cover part or all of tuition costs. Often, they do not require a separate application and are awarded based on the student’s general application for admission. These are VERY competitive and not offered by some top universities such as the Ivy League institutions.

Need-Based Aid: While international students are not eligible for federal financial aid in the US, many universities offer need-based aid to international students. This aid can come in the form of scholarships and grants which do not have to be repaid. This aid requires some form of application including details on the family’s income and financial resources.

2.     External Scholarships and Grants: There are numerous external organizations, foundations, and governments that offer scholarships and grants to international students studying in the U.S. These can be based on academic merit, field of study, country of origin, or other criteria.

Applying for Financial Aid

The application and policy for institutional aid varies significantly by university. Some universities do not offer need-based aid to international students at all, others such as Columbia or UChicago meet 100% of demonstrated need, and some colleges may offer both need and merit aid. It is important to thoroughly research the policies and requirements for each college before making the decision to apply there.

Colleges which offer need-based aid to international students will require the submission of either the CSS Profile, International Student Financial Aid Application (ISFAA) or their own version of a financial aid application. This financial aid form is due with or shortly after the application for admission. These forms require information about the family income, assets and expenses. You will usually be required to upload proof such as tax returns and income statements translated to English in order to complete the applications. Begin working on these applications early enough to gather the required documents well ahead of the stated deadlines.

It is common policy that if a student does not apply for financial aid for their first year, they are ineligible for need-based aid for the following years. So if your family truly needs aid, make sure you complete all forms accurately and ON TIME before the student’s first year of college.

Important Questions to Consider

1.     Will applying for aid affect your chances of admission?

2.     Are there other colleges which would give you more aid?

3.     Are there other colleges which are great fits and cost less overall?

4.     Can students get a job and and/or manage a job while attending college?

While the cost of studying in the U.S. can be daunting for international students, there are various financial aid options available to help make education more accessible. By researching opportunities, preparing strong applications, and staying persistent, you can increase your chances of receiving the financial support you need. This is an important issue I help my students and their families navigate as we work together on their college search and applications. If you have questions about applying to US colleges as an international student, schedule a free intro meeting with me.

The Spring Scholarship Search

Now that college applications are complete, it is a perfect time for HS seniors to use some of their free time for searching and applying for scholarships. There are also many scholarships for younger students, so non-seniors could benefit from dedicating some time to this too. Many students ask me where to search and how to get the most money. Unfortunately, there is no single, simple answer. There are scholarships everywhere just waiting to be found! Here are some tips for your search for the $$$.

Of course getting scholarships from your potential college is the first stop. You should have filled out the FAFSA and/or CSS Profile by now if you have applied to college. If you have not completed those financial aid applications, do it ASAP! Colleges use these forms for determining financial aid awards and much of it is awarded on a first come-first serve basis. You will see what your scholarship and aid awards are on your financial aid award letter which you will receive from your potential colleges before May 1. If you are a junior considering your options, remember to take a look at the academic scholarships and financial aid colleges offer before applying. Some of the scholarships require a separate application and may even have an earlier deadline than the regular college applications. You do not want to miss out on those.

There are so many scholarship search websites it is often overwhelming. Select just 2-3 and consistently check them for updates. Some of the to best pages are:

• Fastweb - After signing up and completing a profile (yes, many pages require this), you will be able to search and get matched with their database of around 1.5 million scholarships. You are able to keep your scholarships organized by those you are not interested in, those you would like to apply for and those you have already applied for.

• Scholarships.com - Scholarships.com updates their database of more than 3.5 million scholarships to be sure to only include legitimate, current scholarships. Similar to fastweb, you sign up and complete a profile to get matched with potential scholarships.

Consider the local opportunities before jumping into the small nationwide scholarships. Great scholarship resources can be local community organizations, student and parent employers, banks, churches, and companies. Most states also have their own form of scholarship or grant for residents, for example the PHEAA grant for PA residents, Florida Bright Futures, and Hope Scholarship in Georgia. Click on your state on this handy map and find out what is available. These can be very valuable resources and should not be overlooked. Some of these statewide programs such as Bright Futures require a certain GPA, test scores, and community service hours which need to be taken into consideration earlier than senior year.

Although it may seem daunting to have to write yet another essay for an application or fill out another form, it may end up being well worth your time. As someone recently pointed out to me, ‘if you spend 2 hours on an application and end up getting $1000, that is $500 an hour. Where else can you get that?’ Take some time and submit quality applications.

A final note of caution to those of you on the hunt for funds - beware of the websites which require payment for access to scholarship lists or people who guarantee they will get you scholarships. As you know by now, almost nothing in the college application world is a guarantee and you are capable of finding the scholarships on free websites.

Additional Resources

National Association of Student Financial Aid Administrators parent and student resources: https://www.nasfaa.org/students_parents_counselors

Read more about scholarship scams here: https://www.consumer.ftc.gov/articles/0082-scholarship-and-financial-aid-scams

SWFL Scholarships

Community Foundation of Collier County

SWFL Community Foundation

Foundation for Lee County Public Schools

Deciphering Financial Aid Award Letters

After coming back from a fantastic training with uAspire on award letter review, now is the perfect time to share some of what I learned or was reminded of. As I receive copies of my students' award letters, I continue to be astonished by how complex and confusing these letters can be, especially for those not familiar with the financial aid jargon. It is disappointing that some schools continue to take advantage of the students and families by presenting their packages in very deceiving formats leading families to believe some colleges are more affordable than they actually are. An important part of the work I do with my families is helping them decipher these letters and make an informed college decision.

Award letters arrive sometime after the student has been accepted and completed the financial aid information such as the FAFSA and/or CSS Profile. Each school has their own timeline for when they send out financial aid information and it can arrive any time up until the May 1 decision day. Although we still refer to it as a 'letter' it is now usually an email or web page the student can access within their college portal.

First off, it is crucial that you understand which types of expenses you will incur and what the different types of aid are. Total cost of attendance should be broken down into several categories such as tuition & fees, room & board, and books & transportation. The tuition & fees and room & board are Direct Costs which are paid directly to the college. The other expenses are Indirect and can vary significantly depending on which classes the student takes, what activities they participate in, where they purchase their materials, and how and when the student will be traveling between home and college. The Indirect Costs are more controllable by the student.

Financial aid can be broken down into two distinctive categories – Gift Aid which consists of grants & scholarships and Self-Help which consists of loans, family contribution, and work study. Unfortunately, colleges often bundle the Self-Help into their financial aid package which leads families to believe they will be paying less. However, the loans and work study are entirely on the student and family to take care of. It is important to know that a Direct Parent Loan also known as Federal Parent Plus Loan is something which is not guaranteed and often has borrowing terms less favorable to other loans such as the federal student loans, yet colleges almost always include it as part of their package. Work study is also not guaranteed and students have to find a qualified job on campus and work to earn that money.

So when reviewing your financial aid packages, be sure to calculate your true total cost of attendance by adding all direct and indirect expenses and subtracting grants and scholarships from that total. Do not include loans, work study, parent contribution or anything else listed on the award letter which will require payment from you. This final number will be the amount you will need to fund yourself whether it is via federal loans, private loans, work study, or finding additional scholarships. If you feel that the financial aid office made an error in calculating your aid, your financial situation has changed or another school has made a more competitive offer, you can always consider appealing.

Be sure to weigh your college and finance options carefully before making a final decision. If the letters are not clear to you, do not hesitate to call the financial aid office and ask for clarification. In the end, you may need to ask yourself some difficult questions such as if a certain school is worth that high final price tag or if you would prefer to save that extra money for attending grad school later. Make use of some of the free online calculators to get a better idea of what your monthly loan payments would be. Remember to look into the terms of each loan such as if it is subsidized or not, when the repayment begins, if repayment plans are income based, what the interest rates and loan fees are, and if payment can be deferred. Whatever you decide, ensure you are making a financially safe decision.

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For a breakdown of some of the financial aid terms, check out my previous post here: https://www.acmcollegeconsulting.com/blog/2018/10/22/all-about-the-fafsa

If you still have not filed the FAFSA, do it NOW: https://studentaid.ed.gov/sa/fafsa

If your school has requested additional financial aid forms or verification, be sure to complete them as soon as possible to ensure you receive the highest amount of aid possible. Remember, some aid is given on a first come, first serve basis.

All About the FAFSA

The FAFSA (Free Application for Federal Student Aid) is the standard form used by all schools to determine the amount of federal aid a student will receive. The application opens on October 1 each year and closes the following June 30. The FAFSA calculates the EFC (Expected Family Contribution), what the government considers a reasonable amount the family should be able to contribute to the student's educational costs whether or not a parent wants to contribute to their child's education.

It is important to know that the earlier you file, the more funding you may receive as some grants are given on a first come, first serve basis. Also, each state and college has their own deadline for when you need to file, and these often fall around the time the college applications are due. While the FAFSA is primarily used to determine federal funding, some schools also use it to determine the distribution of their own institutional aid. Therefore, it is often recommended that all students fill out the FAFSA and do it early, whether or not they think they will be eligible for federal aid.

The FAFSA needs to be filed prior to each year the student plans on attending college. It is completed using prior-prior tax year data for the student and parent(s). So if you are filling it out for the 2019-2020 school year, you will use 2017 tax information. If you have not filed your taxes, you can estimate your income and update the application as needed. Before you begin, it is helpful to gather the materials you will need to complete the application:

• An FSA ID to sign electronically (you can apply for this special username and password online via fsaid.ed.gov or other U.S. Department of Education websites and the student and one parent, the custodial, for each dependent will need separate IDs)

• Your Social Security Number

• Your Federal Income Tax Returns, W-2s, and other records of income earned (Note: You may be able to use the FAFSA's IRS Data Retrieval Tool which transfers the data directly from your completed tax returns to your application)

• Bank statements and records of investments (if applicable)

• Records of untaxed income such as child support or interest income

• List of schools you are applying to

Ensure that the information you have entered is accurate and complete to prevent any delays in the processing of your application. Make sure you have added any schools to which you are considering applying to the FAFSA application so that they receive the information. If any financials need adjusted or schools need added, you can go back in and update the application later. If your family's financial situation has changed for the current year and the tax information you must use for the application does not properly reflect it, it is important that you contact each of the colleges and inform them of your current situation.