How does financial aid work?

Paying for College
1

<p>Hello!</p>

<p>I am a prospective undergraduate international student</p>

<p>Recently I realized that I haven't been introduced to the process of receiving financial aid, like, almost at all. You get it an you are good to go. But, when i think about it, I have a lot of unanswered questions, and I hope I will get an answer here.</p>

<p>First of all, is the financial aid like a scholarship (that pays your tuition housing books and food) or is part of it a loan? Secondly, how do they give it to you? Like a paycheck? Every month, like pocket money? Is it plausible to earn something extra, or saving it up? Or do they keep track of me, and if i get a job, they giv me less ''need'' money?</p>

<p>I hope I was clear enough with my questions xD</p>

2

<p>First…as an international student, you need to find schools that award financial aid to international students. Some do, some don’t, and others offer limited aid to international students.</p>

<p>There are two kids of aid…merit and need based.</p>

<p>Merit awards are based in your academic strength, including grade point average and standardized test scores (ACT or SAT). The best merit awards are given by the colleges directly. </p>

<p>Need based aid is based on your financials…your parent’s incomes and assets primarily. You are not eligible for any U.S. Funded need based aid. You would be eligible for need based aid at schools that award this to international students. Not all schools give institutional aid to international students. For need based aid, you will need to submit whatever forms your schools ask you to complete for consideration of need based aid. This can be found on each college’s website in the financial aid section. Look to see what you need to complete, and make sure you have it all done before the DEADLINE. Do NOT miss any deadlines.</p>

<p>A few things to keep in mind. The schools will calculate what they think your family should be contributing. You will not get financial aid to cover that amount (unless you get a HUGE merit award). Most U.S. colleges do NOT meet full need for all accepted students. So, there is no guarantee that your full need will be met. There are some highly competitive colleges that DO meet full need, and for international students. They accept less than 10% of those who apply to their school. Your first hurdle at these schools would be acceptance. </p>

<p>As an international student, your ability to work here will be limited…very limited.</p>

<p>Important…many schools that do give need based aid to international students are need aware for admissions. This means the schools will consider your ability to pay when they consider your application for admission.</p>

<p>NO…you will not receive a paycheck. IF you receive a financial aid award, that amount will be used to pay any bills for the bursar’s office…tuition, room, board, fees. </p>

<p>And most schools require a student contribution. </p>

<p>How much can your parents contribute to your college education? Does YOUR country have any affordable options for college? </p>

3

<p>Thank you for the response!</p>

<p>Yes, I am aware that many colleges do not offer aid to internationals. However, I am considering only the ones who do. I know that it is tough to get them, no need to put emphasis on that one! Nevertheless, I am a relatively strong applicant, and will be applying to international-aid-friendly colleges. I just wanted to get more familiar with the process :)</p>

<p>Since you’ve asked : My parents can contribute nothing. We are middle class here, but very below average for us standards. In my country I already have a guaranteed full-scholarship offer from the best engineering university, and I haven’t even started senior year. I consider it a safety net in the case I don’t make it nowhere else.</p>

4

<p>If you are applying to the colleges that meet full need for all international students, you are indeed applying to the most competitive universities here. </p>

<p>Process is still the same. Check EACH college that is of interest to you. They will have their financial aid application requirements and deadlines clearly listed on their websites. You need to complete whatever is required by the colleges to which you apply. The schools will determine your financial need, and if you are accepted, will send you a financial aid award. The financial aid monies will be used to pay your costs to the university. This includes tuition, room, board, and fees. You are also required to carry health insurance here. The universities do not bill for books, travel and personal expenses, some schools include money in financial aid awards to help with these costs…but most expect them to be paid from the student contribution, which can be several thousand dollars a year.</p>

<p>If you plan to major in engineering, and are a very strong student, you might want to check University of Alabama. They have very generous merit awards for top high achieving students. Engineering majors get an additional $2500 which can be applied to the room and board costs. It wouldn’t be free, but it would be a good amount.</p>

5

<p>

Most “international-aid-friendly” schools will not cover the transportation expenses for international student.</p>