Applying for financial aid as well as scholarships in the US is the only way for many students to realize the “American Dream”. However, applying for a scholarship is not an easy thing, especially for international students. The high quality of study in the US also comes with the expensive cost of studying abroad in which tuition fees and living costs range from $20,000 to over $80,000 per year. This article will provide knowledge about the types of financial aid offered by American Universities.
Types of financial aid:
Grants: grants that do not need to be paid back, usually based on the financial need (need-based) of the student’s family or based on the student’s academic ability (merit-based) . For international students, subsidies usually come from the school.
Work-Study/Campus Job: is a source of financial support by working on campus.
Student Loans: Loans made to students and must be repaid. Students will pay both principal and interest a period of time after graduation. Vietnamese families often choose not to accept this support from the school.
These three types of financial aid require no additional application. That means you will be automatically considered for the above types of support if you submit your application on time. However, to receive ongoing support, students must meet basic requirements such as being a full-time student, a satisfactory GPA (usually >3.0/4.0), etc
Most U.S. universities choose a “need-aware” option for international students, which means that how much or how little you apply for is a determining factor in whether or not you are accepted. Only a few wealthy schools such as MIT, Harvard, Princeton, Yale, Amherst have a “need-blind” policy for international students. This means that they will only enroll students based on the application, without considering the financial condition of the candidate.
In addition to financial aid, schools also have many types of scholarships (Scholarships) for students, such as Dean’s Scholarships (usually very generous, covering 100% of tuition fees), International Grant/Scholarship (they are very priority). international students because diversity is an important link for the school’s reputation to increase), Women’s Scholarship, First-generation Scholarship, Honor Scholarship (for top students), Scholarship from philanthropists heart – these scholarships are usually in the names of alumni or families of former students, etc. These scholarships can range from a few thousand US dollars to full tuition (full tuition), even full tuition and accommodation (full-ride) that means you study abroad for free! Some schools have full-ride scholarships.
Scholarships often require additional students to submit an additional scholarship application that includes a fair amount of essays, and possibly a face-to-face interview with a university representative (Admissions Committee, Alumni, etc.). Factors considered when considering scholarships include academic ability, standardized test scores, GPA scores, Extracurricular activities, special factors such as being the first generation to attend college in family (first-generation), special talents, etc.
An interesting point about scholarships is that at some schools, if students receive a scholarship, they are required to write a thank you letter and send it to the families that sponsor the scholarship. Scholarships are also more diverse in name, which can be the name of an alumnus, the name of a fund (such as Phi Theta Kappa (PTK) Scholarship), or the name of a scholarship determinant such as Merit Scholarship, Portfolio Scholarship, Athletic Scholarship, Global Scholar Scholarship, Performing Arts Scholarship, etc. Unlike financial aid, scholarships are very clear in the amount of student support (very “even”), can be 5,000-10,000 USD even full support from accommodation, tuition fees to living expenses , go.
Scholarships from External Funds
In addition to scholarships and financial support from the school, students can refer to the following scholarship sources:
Deserve Scholarship: $1,000 for 25 international students
Mpower Financing: 1 scholarship of 5,000 USD and 2 scholarships of 1,000 USD for international students who have been accepted to the schools on the list
#YouAreWelcomeHere: at least 50% of tuition
College Board Scholarship:
And countless other scholarships can be found on IEFA. IEFA is a scholarship site that most American universities recommend to students when they require additional financial support, so you can be assured of the diversity and authenticity of this website!
Fulbright Graduate Scholarship Program:
There are many organizations that provide different scholarship funds for foreign students. One of the best known scholarship funds is the Fulbright Program, which is a student exchange program funded by the US government. About 155 countries participate in this program. The scholarship programs offered are diverse, but this is also one of the fiercest competition due to the large number of applications.
How to apply for financial aid?
As a first step, you should directly contact the university or educational institution you want to apply to for information about courses that offer financial aid, as well as how to apply. This will save you time and avoid inaccurate information.