Before a student plans to study abroad in USA it is important to have an understanding of the costs involved.
Here are the details of specific costs involved.
1. Application Costs
A study abroad plan for a student starts with the application process. If a student plans to apply to four or five different colleges/universities, then the student should consider the costs like: application fees, international courier charges, documentation fees and miscellaneous expenditure like stationary etc.
In USA, the application fees may range between $25 - $ 100 USD per institution with most of them ranges between $ 50 - $75 USD. Very few institutions will process applications without this fee and it must be paid be once a decision has been made on the application.
2. Standardized Tests
In most cases, students have to take one or more standardized tests such as TOEFL/GRE/GMAT/SAT/IELTS as a prerequisite for admission. Test registration fees range from $165 - $ 250 USD each, without including the possible extra score reporting fees (if students does not know which college/university they plan to send the scores at the time of registration). If a student wants to send additional score reports after taking the tests, these fees may range from $10 - $28 USD per institution. In addition, if a student plans to take any test preparation course/coaching, then there might be the coaching fees as well.
3. Tuition Fees
Please note that all the costs indicated are approximate and may vary depending on the courses and universities. Also please note that the tuition costs can increase from one year to another; the average increase may be around 5 – 10% per annum.
4. Living Expenses
The cost of food may cost at an average of $300 USD per month approximately. The other incidental expenditures like rent, utilities, entertainment, transportation and other expenses, the average may be around $800 - $ 1,500 per month for a single student depending on the location and the style of accommodation. (Some urban areas like Boston, New York City and San Francisco etc are more expensive than others). If a dependent like spouse or children are accompanied by the student then the amount may increase approximately around $ 500 for each dependent. (Note: Dependents are not authorized or allowed to accept employment in USA).
5. Health Insurance
Health insurance is mandatory for all international students who plan to study abroad in USA. Depending upon the company and policy taken, the cost of insurance for a student may be approximately from Rs.30,000/- to Rs.75,000/- per annum.
6. Books and Supplies
The cost of books and supplies can be anywhere between $ 400 - $ 1,200 USD per annum depending upon the course and field of study. For some programs, students are required to purchase a laptop, computer and also softwares.
7. Other Costs
A student Visa application fees (presently approximately Rs.6.580/-), airfare and other miscellaneous expenditure like a security deposit for a room/house/apartment rented, basic necessities etc. are also to be considered while calculating the expenditure involved when studying abroad. A round trip air fare from India to USA can be approximately between Rs.50,000/- to Rs.1,00,000/- depending upon the time of travel in the year and also the airlines.
Chart of Average Educational Costs in USA (All amounts are indicated in $ USD):
FINANCIAL PLANNING
Students who study abroad often regard it as the experience of a lifetime. It is an exciting time where the student learns almost everything inside/outside the classroom. But, it can be very expensive, and it takes some advance planning. By creating a sensible budget and sticking with it a student can manage the finances while studying abroad in a much better way.
SETTING A BUDGET
It is always recommended making a budget for a one year's study and to get an idea of approximately how much money a student needs for a comfortable living. When looking at the overall cost of studying in the USA, it is important to distinguish between fixed costs, fixed tuition fees to be paid to the college/university and the rent versus indirect costs like living expenses.
Once this has been figured out how much tuition fees and educational fees will cost, it is a good idea to make an annual budget for other non-fixed costs such as food, entertainment, books and supplies, transportation and other miscellaneous costs. Because there are strict limitations on off-campus employment for international students, when a student applies for a student visa, they will need to show proof that they have enough funds to cover all the cost of one year of study.
WAYS TO REDUCE EDUCATIONAL/TUITION COSTS
The tuition fees is obviously very expensive aspect of studying abroad, so if finances are a concern, there are few important things to consider before a student chooses the course or college/university.
BEST VALUES:
Every year U.S News and World Report, a magazine comes up with a list of what are called "Best Values: Great Schools at Great Prices" and the list includes schools that have strong academic reputation and are more affordable. The data also includes tuition costs and the amount of financial aid and scholarships that are disbursed annually.
ACCELERATED PROGRAMS:
Completing a four or five year bachelor's degree in three or four years can save a student thousands of dollars. Students can accelerate their programs by earning transfer credit or advanced standing for college-level studies completed in the home country (for example, through A-levels, International Baccalaureate, advanced placement exams or courses taken at local accredited post secondary institutions in the student's home country; if accepted by the institution in the USA) taking courses at a nearby community college if tuition fees is less and credits are transferable; attending classes during the summer if they are available or taking one additional course each term.
TWO-YEAR AND COMMUNITY COLLEGES:
Many students, international and American, save thousands of dollars in tuition by attending community colleges for their first two years and then transferring to four-year institution to complete their Bachelor's degree. There are many excellent community colleges and often they have strong transfer programs to competitive colleges and universities.
NON – FIXED COSTS: What's included and how to reduce these costs
Housing
After a student gets admission in a specific course, the college/university's housing office will contact the student with information on the availability of on-campus housing. In many cases, on-campus housing can be less expensive compared to that of off-campus housing and provides some benefits like proximity to campus, subsidized services such as computer labs, cafeteria services and lounges with television and/or other entertainment and also the opportunity to meet many other American and international students.
In some cases if on-campus housing is not available or is not desirable then a student may prefer to live off-campus. Depending on the type of housing a student needs and the location, the cost of off-campus housing can vary considerably. In general, housing in large urban areas and on the West and the East coasts is the most expensive. In addition to rent, a student should also budget for furniture and other household essentials because most rentals in the USA are not furnished. In addition to monthly rental fees, in many cases a student must also need to budget for utility costs which may include gas, electricity, water, garbage services, cable TV and/or internet services and in some urban areas parking too. These additional costs can be from $50 - $200 USD a month excluding the housing rent/costs.
Saving tips: It is always a better idea to share the house with roommate(s) to split the cost of rent and other bills. Buying furniture used and look for garage sales and checking the campus bulletin boards for sales.
Transportation
Depending on the student decision to live, the transportation costs will depend. If a student thinks of own transportation like using a car while at college/university then the student must need to budget for operating expenses such as fuel, parking fees and routine maintenance that will be incurred. In some institution campuses, the parking cost can be around $ 100 USD approximately every month.
If a student wants to save money, they can look into public transportation, it is often economical than having a car, particularly in urban areas it can be very convenient. The other alternatives like walking, cycling are good options to consider if a student lives near the campus. Finally, students also need to budget for airfares during their visit to homes on holidays and other academic breaks.
Saving tips: Many universities offer a free or low-cost shuttle bus service both on-campus and the areas surrounding the college/university. In addition, a student can check if their institution provides any discounted public transportation passes. If any student planning to drive or buy a car, it is always better looking at purchasing a fuel-efficient used car, and see the possibility of carpooling (Sharing rides) with other students so that they can share the costs of fuel/car.
Health Insurance
Most of the USA colleges/universities require their students show proof of health insurance coverage and this is quite expensive and is something to be sure to include in the budget. Many institutions offer their own health insurance plans for their students which is often subsidized and cost them very less than it would normally be if the students purchase themselves. The students can also budget other things like vitamin supplements, general medicines (for ill, body pains etc) and a gym membership so that they can have a regular exercise and relieve the stress of being a student.
Saving tips: Many colleges/universities have on-campus health clinics offering health services at a very low cost. They may also offer classes in stress reduction or other health-related areas that the student can take advantage. If there is no health clinic on campus students have to look for other community clinics off-campus that offers low cost health services. Always it is better to check with the doctor and make sure that they accept the student health insurance. If the student like to join a gym, see if there is any inside the campus and/or if any local gyms have student discounted rates available.
Food
For most of the undergraduates, the college/university may offer a "meal plan" that allows a student to eat their meals on campus in cafeterias or restaurants for a monthly fee. The food may not be as delicious as home cooking, but it is convenient for students and usually offers many choices and it is often a good deal financially.
Saving tips: If a student lives off-campus then they can use generic products instead of name brands, clip coupons and pack a lunch rather than eating out. Many restaurants in college/university offers discount to students.
Entertainment and Extra-curricular Activities
A big part of the experience of living and studying abroad is what every student thinks in their mind. A part from these things there are also other things to consider and budget for extra-curricular activities such as movies, sporting events, concerts, short trips to visit monuments, museums and other places/activities.
Saving tips: A student activity fee may entitle to attend concerts, lectures, movies and sporting events at a discount. The student can take advantage of these on-campus events. Also the student can check to see if museums and other places offer any special student discount rates. The students can check on signing for a subscription at a local theatre whether they are entitled for any free/low priced tickets for events. They can also volunteer and serve as an usher at the opera or symphony and then can attend it for free.
Textbooks and School Supplies
The student should budget for books and supplies (including notebooks, paper, pens, etc) as these items can add up quickly. In some colleges/universities the students may also be required to purchase a laptop/computer or specific types of software for their courses. Sometimes the colleges/universities offer a special discounted price for the students where the students can check with their department to get an estimate of these costs.
Saving tips: The best way to keep textbook costs low is to buy used ones or loan/rent them from the college/university library. Most campuses have stores near campus that sell used books and the students can check campus bulletin boards for ads offering texts for sale. The students must ensure that the edition of the book they are looking to buy matches the one that is required for the course.
Miscellaneous
The next thing that needs to be included in the budget is the fees required to apply the student visa; check the U.S consulate website for the fees list of the respective country. In addition, it is a good idea to budget for items such as a mobile phones, clothing (especially if the student is moving to an area where the climate is different from their home environment/climate) and even a small general emergency fund. In some graduate fields, the student may also include funds to attend any research conferences and pay membership association fees.
BEWARE OF Credit Cards:
Credit card companies know where and how to find good customers at colleges and universities. The students may likely receive many offers from credit card companies in the mail and even while walking around the campus. Even if the student has some intentions, a credit card can ruin the most carefully planned budget. If a student want to get a credit card, it is always better to find one with a low interest rate, pay off the full balance on time each month and plan to use the card only when needed desperately.
Hidden Fees:
Many banks and credit card companies charge fees for ordering new cheques, or for bouncing a cheque, sending the payment a couple of days late and for using an unaffiliated ATM. Another example is cell phone companies may charge for going over the given plans and the billing period.
Parking Tickets:
Many students struggle with parking tickets. Parking can be difficult on many campuses and students sometimes forget to feed the parking meter or check the posted parking signs. These tickets can range from $25 - $300 USD approximately. The best mode of transport for the students is riding a bicycle or going for the college/university transport (if provided) or use the public transport.
WAYS TO PAY FOR STUDY ABROAD
Applying for Student Scholarships and Loans
The Scholarships and grants are the most desirable way to pay for the education and one (student) should plan ahead and apply for as many scholarships as possible. A student should begin looking into this at least a year in advance, as many scholarship deadlines require that a student should apply early. In addition, if money is a concern, then the student should look into applying to those colleges and universities that offer scholarships and awards to international students at the undergraduate level, only a handful of well-endowed colleges/universities in the USA are able to meet the financial need of all the students they admit and admission to these colleges/universities are usually very competitive. Financial aid in the form of scholarships is more often available at the graduate level, but the amount of support varies and in some professional graduate programs, such as law, business management (MBA) and journalism etc a very little aid is available to support students.
Most types of scholarships for international students are highly competitive and require excellent academic records. The terms "scholarships" and "financial aid" are used interchangeably, but technically speaking a scholarship is a financial award based on merit, including outstanding academic performance, special talent in sports, performing arts or perhaps community service and leadership. Financial aid is a "need – based" grant based on the student's financial need as documented by family income, assets and other factors.
Once a student is offered admission in a particular course, they have to be sure to contact the department head and enquire about institutional awards and possible assistantships or part-time jobs on campus. (An assistantship usually involves 10 – 20 hours a week of work as a teaching assistant in a classroom or lab, or doing research. This position often includes a tuition waiver and in some cases an hourly wage). Some departments may also have listings of private and outside non-profit organizations that offer scholarships to students in the same field of study. The students should also research on possible funding from the country's local government, corporate or foundation sectors. Fulbright grants are another way to pay for a graduate level studies in USA; deadlines are usually in May and the student would need to apply at least one year in advance before the beginning of their course program. For more information please visit the United States India Educational Foundation (USIEF) website or log on to http://www.usief.org.in/
After the funds of the students are exhausted that do not need to be repaid, then they may want to consider student loans to cover the remaining costs. A word to wise though: before taking a loan, make sure that the students are aware about the modes of the repayment method and how a loan will affect their plans for graduate and other further studies and for returning home. The international students are not eligible for low interest rate loans sponsored by the U.S federal government, but there are a number of banks that offer loans to non U.S residents provided that they have a guarantees/co-signer who are U.S citizens or permanent residents. Also there are number of different loan options from India too.
Employment
As per the current immigration regulations in USA, the international students are permitted to work on campus up to 20 hours a week during the academic year and up to 40 hours a week during the summer vacation/holidays. By working 10 to 15 hours a week, the students can earn enough to pay for their regular expenses. The jobs are not guaranteed until the student arrives in USA and this future income cannot be used to prove the financial ability when they apply for a student visa.
Campus jobs may include working at the university's cafeteria or restaurants, bookstore, library or health club or within the university's administrative offices. After one year, the student can apply for employment as a resident assistant (RA) in a university dormitory. The RA's are the first point of contact for other international students who needs assistance or who have queries regarding their dorm life. In return, these RAs receive free accommodation and sometimes a small pay/salary and/or meal plan.
Under current regulations, after the first year of study, the students can meet with their international student advisors on campus and may apply for authorization to work off-campus in the related field of study (again for up to 20 hours a week during the academic year, and up to 40 hours a week in holidays/summer vacation). If the student is in extreme financial hardship, then the student is permitted to apply for any off-campus employment authorization irrespective/unrelated of their course. However, there is no guarantee that these requests will be granted. If any of the students are married and are on an F-1 visa, their spouse does not have any permission to work. As there are many regulations on employment, they should always check with their respective international student advisor before considering any form of off-campus employment.
Here are the details of specific costs involved.
1. Application Costs
A study abroad plan for a student starts with the application process. If a student plans to apply to four or five different colleges/universities, then the student should consider the costs like: application fees, international courier charges, documentation fees and miscellaneous expenditure like stationary etc.
In USA, the application fees may range between $25 - $ 100 USD per institution with most of them ranges between $ 50 - $75 USD. Very few institutions will process applications without this fee and it must be paid be once a decision has been made on the application.
2. Standardized Tests
In most cases, students have to take one or more standardized tests such as TOEFL/GRE/GMAT/SAT/IELTS as a prerequisite for admission. Test registration fees range from $165 - $ 250 USD each, without including the possible extra score reporting fees (if students does not know which college/university they plan to send the scores at the time of registration). If a student wants to send additional score reports after taking the tests, these fees may range from $10 - $28 USD per institution. In addition, if a student plans to take any test preparation course/coaching, then there might be the coaching fees as well.
3. Tuition Fees
Please note that all the costs indicated are approximate and may vary depending on the courses and universities. Also please note that the tuition costs can increase from one year to another; the average increase may be around 5 – 10% per annum.
4. Living Expenses
The cost of food may cost at an average of $300 USD per month approximately. The other incidental expenditures like rent, utilities, entertainment, transportation and other expenses, the average may be around $800 - $ 1,500 per month for a single student depending on the location and the style of accommodation. (Some urban areas like Boston, New York City and San Francisco etc are more expensive than others). If a dependent like spouse or children are accompanied by the student then the amount may increase approximately around $ 500 for each dependent. (Note: Dependents are not authorized or allowed to accept employment in USA).
5. Health Insurance
Health insurance is mandatory for all international students who plan to study abroad in USA. Depending upon the company and policy taken, the cost of insurance for a student may be approximately from Rs.30,000/- to Rs.75,000/- per annum.
6. Books and Supplies
The cost of books and supplies can be anywhere between $ 400 - $ 1,200 USD per annum depending upon the course and field of study. For some programs, students are required to purchase a laptop, computer and also softwares.
7. Other Costs
A student Visa application fees (presently approximately Rs.6.580/-), airfare and other miscellaneous expenditure like a security deposit for a room/house/apartment rented, basic necessities etc. are also to be considered while calculating the expenditure involved when studying abroad. A round trip air fare from India to USA can be approximately between Rs.50,000/- to Rs.1,00,000/- depending upon the time of travel in the year and also the airlines.
Chart of Average Educational Costs in USA (All amounts are indicated in $ USD):
| USA (PUBLIC) | ||
| TUITION FEES | LIVING EXPENSE | |
| Undergraduate | 10,000-30,000 US $/Year | 7,200-12,000 US $/Year |
| Graduate | 10,000-30,000 US $/Year | 7,200-12,000 US $/Year |
| USA (PRIVATE) | ||
| TUITION FEES | LIVING EXPENSE | |
| Undergraduate | 15,000-45,000 US $/Year | 8,000-12,000 US $/Year |
| Graduate | 15,000-45,000 US $/Year | 8,000-12,000 US $/Year |
FINANCIAL PLANNING
Students who study abroad often regard it as the experience of a lifetime. It is an exciting time where the student learns almost everything inside/outside the classroom. But, it can be very expensive, and it takes some advance planning. By creating a sensible budget and sticking with it a student can manage the finances while studying abroad in a much better way.
SETTING A BUDGET
It is always recommended making a budget for a one year's study and to get an idea of approximately how much money a student needs for a comfortable living. When looking at the overall cost of studying in the USA, it is important to distinguish between fixed costs, fixed tuition fees to be paid to the college/university and the rent versus indirect costs like living expenses.
Once this has been figured out how much tuition fees and educational fees will cost, it is a good idea to make an annual budget for other non-fixed costs such as food, entertainment, books and supplies, transportation and other miscellaneous costs. Because there are strict limitations on off-campus employment for international students, when a student applies for a student visa, they will need to show proof that they have enough funds to cover all the cost of one year of study.
WAYS TO REDUCE EDUCATIONAL/TUITION COSTS
The tuition fees is obviously very expensive aspect of studying abroad, so if finances are a concern, there are few important things to consider before a student chooses the course or college/university.
BEST VALUES:
Every year U.S News and World Report, a magazine comes up with a list of what are called "Best Values: Great Schools at Great Prices" and the list includes schools that have strong academic reputation and are more affordable. The data also includes tuition costs and the amount of financial aid and scholarships that are disbursed annually.
ACCELERATED PROGRAMS:
Completing a four or five year bachelor's degree in three or four years can save a student thousands of dollars. Students can accelerate their programs by earning transfer credit or advanced standing for college-level studies completed in the home country (for example, through A-levels, International Baccalaureate, advanced placement exams or courses taken at local accredited post secondary institutions in the student's home country; if accepted by the institution in the USA) taking courses at a nearby community college if tuition fees is less and credits are transferable; attending classes during the summer if they are available or taking one additional course each term.
TWO-YEAR AND COMMUNITY COLLEGES:
Many students, international and American, save thousands of dollars in tuition by attending community colleges for their first two years and then transferring to four-year institution to complete their Bachelor's degree. There are many excellent community colleges and often they have strong transfer programs to competitive colleges and universities.
NON – FIXED COSTS: What's included and how to reduce these costs
Housing
After a student gets admission in a specific course, the college/university's housing office will contact the student with information on the availability of on-campus housing. In many cases, on-campus housing can be less expensive compared to that of off-campus housing and provides some benefits like proximity to campus, subsidized services such as computer labs, cafeteria services and lounges with television and/or other entertainment and also the opportunity to meet many other American and international students.
In some cases if on-campus housing is not available or is not desirable then a student may prefer to live off-campus. Depending on the type of housing a student needs and the location, the cost of off-campus housing can vary considerably. In general, housing in large urban areas and on the West and the East coasts is the most expensive. In addition to rent, a student should also budget for furniture and other household essentials because most rentals in the USA are not furnished. In addition to monthly rental fees, in many cases a student must also need to budget for utility costs which may include gas, electricity, water, garbage services, cable TV and/or internet services and in some urban areas parking too. These additional costs can be from $50 - $200 USD a month excluding the housing rent/costs.
Saving tips: It is always a better idea to share the house with roommate(s) to split the cost of rent and other bills. Buying furniture used and look for garage sales and checking the campus bulletin boards for sales.
Transportation
Depending on the student decision to live, the transportation costs will depend. If a student thinks of own transportation like using a car while at college/university then the student must need to budget for operating expenses such as fuel, parking fees and routine maintenance that will be incurred. In some institution campuses, the parking cost can be around $ 100 USD approximately every month.
If a student wants to save money, they can look into public transportation, it is often economical than having a car, particularly in urban areas it can be very convenient. The other alternatives like walking, cycling are good options to consider if a student lives near the campus. Finally, students also need to budget for airfares during their visit to homes on holidays and other academic breaks.
Saving tips: Many universities offer a free or low-cost shuttle bus service both on-campus and the areas surrounding the college/university. In addition, a student can check if their institution provides any discounted public transportation passes. If any student planning to drive or buy a car, it is always better looking at purchasing a fuel-efficient used car, and see the possibility of carpooling (Sharing rides) with other students so that they can share the costs of fuel/car.
Health Insurance
Most of the USA colleges/universities require their students show proof of health insurance coverage and this is quite expensive and is something to be sure to include in the budget. Many institutions offer their own health insurance plans for their students which is often subsidized and cost them very less than it would normally be if the students purchase themselves. The students can also budget other things like vitamin supplements, general medicines (for ill, body pains etc) and a gym membership so that they can have a regular exercise and relieve the stress of being a student.
Saving tips: Many colleges/universities have on-campus health clinics offering health services at a very low cost. They may also offer classes in stress reduction or other health-related areas that the student can take advantage. If there is no health clinic on campus students have to look for other community clinics off-campus that offers low cost health services. Always it is better to check with the doctor and make sure that they accept the student health insurance. If the student like to join a gym, see if there is any inside the campus and/or if any local gyms have student discounted rates available.
Food
For most of the undergraduates, the college/university may offer a "meal plan" that allows a student to eat their meals on campus in cafeterias or restaurants for a monthly fee. The food may not be as delicious as home cooking, but it is convenient for students and usually offers many choices and it is often a good deal financially.
Saving tips: If a student lives off-campus then they can use generic products instead of name brands, clip coupons and pack a lunch rather than eating out. Many restaurants in college/university offers discount to students.
Entertainment and Extra-curricular Activities
A big part of the experience of living and studying abroad is what every student thinks in their mind. A part from these things there are also other things to consider and budget for extra-curricular activities such as movies, sporting events, concerts, short trips to visit monuments, museums and other places/activities.
Saving tips: A student activity fee may entitle to attend concerts, lectures, movies and sporting events at a discount. The student can take advantage of these on-campus events. Also the student can check to see if museums and other places offer any special student discount rates. The students can check on signing for a subscription at a local theatre whether they are entitled for any free/low priced tickets for events. They can also volunteer and serve as an usher at the opera or symphony and then can attend it for free.
Textbooks and School Supplies
The student should budget for books and supplies (including notebooks, paper, pens, etc) as these items can add up quickly. In some colleges/universities the students may also be required to purchase a laptop/computer or specific types of software for their courses. Sometimes the colleges/universities offer a special discounted price for the students where the students can check with their department to get an estimate of these costs.
Saving tips: The best way to keep textbook costs low is to buy used ones or loan/rent them from the college/university library. Most campuses have stores near campus that sell used books and the students can check campus bulletin boards for ads offering texts for sale. The students must ensure that the edition of the book they are looking to buy matches the one that is required for the course.
Miscellaneous
The next thing that needs to be included in the budget is the fees required to apply the student visa; check the U.S consulate website for the fees list of the respective country. In addition, it is a good idea to budget for items such as a mobile phones, clothing (especially if the student is moving to an area where the climate is different from their home environment/climate) and even a small general emergency fund. In some graduate fields, the student may also include funds to attend any research conferences and pay membership association fees.
BEWARE OF Credit Cards:
Credit card companies know where and how to find good customers at colleges and universities. The students may likely receive many offers from credit card companies in the mail and even while walking around the campus. Even if the student has some intentions, a credit card can ruin the most carefully planned budget. If a student want to get a credit card, it is always better to find one with a low interest rate, pay off the full balance on time each month and plan to use the card only when needed desperately.
Hidden Fees:
Many banks and credit card companies charge fees for ordering new cheques, or for bouncing a cheque, sending the payment a couple of days late and for using an unaffiliated ATM. Another example is cell phone companies may charge for going over the given plans and the billing period.
Parking Tickets:
Many students struggle with parking tickets. Parking can be difficult on many campuses and students sometimes forget to feed the parking meter or check the posted parking signs. These tickets can range from $25 - $300 USD approximately. The best mode of transport for the students is riding a bicycle or going for the college/university transport (if provided) or use the public transport.
WAYS TO PAY FOR STUDY ABROAD
Applying for Student Scholarships and Loans
The Scholarships and grants are the most desirable way to pay for the education and one (student) should plan ahead and apply for as many scholarships as possible. A student should begin looking into this at least a year in advance, as many scholarship deadlines require that a student should apply early. In addition, if money is a concern, then the student should look into applying to those colleges and universities that offer scholarships and awards to international students at the undergraduate level, only a handful of well-endowed colleges/universities in the USA are able to meet the financial need of all the students they admit and admission to these colleges/universities are usually very competitive. Financial aid in the form of scholarships is more often available at the graduate level, but the amount of support varies and in some professional graduate programs, such as law, business management (MBA) and journalism etc a very little aid is available to support students.
Most types of scholarships for international students are highly competitive and require excellent academic records. The terms "scholarships" and "financial aid" are used interchangeably, but technically speaking a scholarship is a financial award based on merit, including outstanding academic performance, special talent in sports, performing arts or perhaps community service and leadership. Financial aid is a "need – based" grant based on the student's financial need as documented by family income, assets and other factors.
Once a student is offered admission in a particular course, they have to be sure to contact the department head and enquire about institutional awards and possible assistantships or part-time jobs on campus. (An assistantship usually involves 10 – 20 hours a week of work as a teaching assistant in a classroom or lab, or doing research. This position often includes a tuition waiver and in some cases an hourly wage). Some departments may also have listings of private and outside non-profit organizations that offer scholarships to students in the same field of study. The students should also research on possible funding from the country's local government, corporate or foundation sectors. Fulbright grants are another way to pay for a graduate level studies in USA; deadlines are usually in May and the student would need to apply at least one year in advance before the beginning of their course program. For more information please visit the United States India Educational Foundation (USIEF) website or log on to http://www.usief.org.in/
After the funds of the students are exhausted that do not need to be repaid, then they may want to consider student loans to cover the remaining costs. A word to wise though: before taking a loan, make sure that the students are aware about the modes of the repayment method and how a loan will affect their plans for graduate and other further studies and for returning home. The international students are not eligible for low interest rate loans sponsored by the U.S federal government, but there are a number of banks that offer loans to non U.S residents provided that they have a guarantees/co-signer who are U.S citizens or permanent residents. Also there are number of different loan options from India too.
Employment
As per the current immigration regulations in USA, the international students are permitted to work on campus up to 20 hours a week during the academic year and up to 40 hours a week during the summer vacation/holidays. By working 10 to 15 hours a week, the students can earn enough to pay for their regular expenses. The jobs are not guaranteed until the student arrives in USA and this future income cannot be used to prove the financial ability when they apply for a student visa.
Campus jobs may include working at the university's cafeteria or restaurants, bookstore, library or health club or within the university's administrative offices. After one year, the student can apply for employment as a resident assistant (RA) in a university dormitory. The RA's are the first point of contact for other international students who needs assistance or who have queries regarding their dorm life. In return, these RAs receive free accommodation and sometimes a small pay/salary and/or meal plan.
Under current regulations, after the first year of study, the students can meet with their international student advisors on campus and may apply for authorization to work off-campus in the related field of study (again for up to 20 hours a week during the academic year, and up to 40 hours a week in holidays/summer vacation). If the student is in extreme financial hardship, then the student is permitted to apply for any off-campus employment authorization irrespective/unrelated of their course. However, there is no guarantee that these requests will be granted. If any of the students are married and are on an F-1 visa, their spouse does not have any permission to work. As there are many regulations on employment, they should always check with their respective international student advisor before considering any form of off-campus employment.
