Financial Aid and Scholarships

Terms:

• Loans - money given by a financial institution that has to be paid back with interest

• Grants - money given by a financial institution, nonprofit organization, corporation, or federal or state agency that does not have to be paid back

• Scholarships - money given by a financial institution, non profit organization, or corporation that does not have to be paid back.

*Scholarships are typically a term used for merit based awards given to students only, while grants can be given to anyone in need. 

• Funding Source - this term describes where students get their money from. Funding sources can describe scholarships, grants, loans, or personal funds

• Need Blind - describes schools who admit students without reviewing any financial information 

• Need Aware - describes schools who require students to submit financial aid information as part of the admissions process 

• Full Ride - a full scholarship that includes tuition and fees, room and board, and sometimes even book stipends

• Merit Scholarship - a scholarship awarded based off of high achievement

• Institutional Aid - aid given directly from the university

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Finances are one of the most important parts of studying in the USA. Learn more about your options:

• Study in the States

• EducationUSA Financial Information

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Financial Aid:

• CSS Profile - explore this site to learn which schools accept this financial aid application for international students

• NAFSA Information about Funding for Undergraduate International Students in the USA

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Additional Tips:

• Research finances depending on type of institution and level of education

• Ask the institution about school specific scholarships that international students can apply for

• Calculate out of pocket costs for each school your student is considering

• Research options for funding in your home country that your student could use to study abroad in the USA