1. FINANCIAL AID For international students planning to study in the United States November 2006

2. Financial Aid? It’s a jungle out there!

3. Financial Aid for International Students * International or Foreign Students Defined as: Students that will need a visa (F-1) to study in the United States * Financial Aid Defined as (for today’s discussion): Any type of funding outside the student’s family In reality- many colleges separate Financial Aid as being need based & Scholarships as being merit based

4. What is Financial Aid? Money that is supplied by a source outside of the family to help pay for the cost of education Basic premise of Financial Aid: students and parents are the primary source of funds and are expect to contribute to the extent they are able.

5. ???? Financial Aid Is… An assistance device Not designated to replace family’s contribution To supplement parent’s (primary) responsibility Not based on what the parent’s would LIKE to pay

6. Terms and Acronyms Certification of Finances- Documentation to provide information about the amount of funding the student has available School based form Bank letter College Board Form International Student Financial Aid Application- School based College Board Generic Form

7. Terms and Acronyms EFC- Expected Family Contribution COA- Cost of Attendance Need Based- Funding based on family’s income and need Merit Based- Funding based on talents (academic, athletic, leadership, etc.) Unmet Need- Difference between cost and aid award- “ the Gap”

8. Terms and Acronyms NEED BLIND – Students are admitted and fully funded based on the university’s criteria - Less than 10 schools are truly “need blind” MEET FULL NEED – actually means most need is met up to what the university determines – often less than what parents expect, sometimes refers to “full – tuition” MANY are: NEED Conscious NEED Aware NEED Sensitive

9. Cost of Attendence (C.O.A.) DIRECT COSTS Tuition and Fees Room Board/Food INDIRECT COSTS Books and supplies (estimate) Personal expenses (estimate) Transportation (sometimes included) Insurance (may be required)

10. Categories of Financial Aid NEED Based Aid VS. NON-NEED Based Aid (Merit) SELF-HELP Aid VS. GIFT Aid - Work- Scholarships - Loans- Grants

11. Important Factors for Int’l Students If you are looking for financial aid as an int’l student, you MUST apply to institutions that say they offer financial assistance to international students! If in doubt…ASK! Do not assume anything If they say they don’t give financial aid, but you need it, then don’t apply there

12. Important Factors for Int’l Students Make sure you understand if it is based on MERIT or NEED Make sure you know if it is a separate application Make sure you know who/what your competition is…

13. Important Factors for Int’l Students Make sure you understand the requirements to KEEP the funding in subsequent years Know when to apply for financial aid Some applications MUST be regular Early applications may not be appropriate GO WHERE THE $$ IS !!! Do your research…

14. Sources of Financial Aid NOT available to international students Federal $ State $ Can be available to international students Institutional $ Private $

15. Other sources of funds University Grants Private Scholarship Organizations Academic Scholarships Athletic Scholarships Resident Assistant Benefits

16. Private Sources Community Organizations Civic Groups Foundations Religious Organizations Businesses Industry National Ministries of Education

17. ????? Questions to Ask… Does your university offer financial assistance to international students? Are they in the form of Financial Aid (need based) or Scholarships (merit)? What forms are required? What are the deadlines? How competitive are the scholarships?

18. Questions to Ask… Is your university “need blind” when it comes to admissions of international students? Will you do an “admit-deny” status for international students? ADMIT- for admissions purposes but DENY any type of financial assistance? Or is admissions linked to financial need? Will you be denied admissions if your need is more than they can meet?

19. Loans for International Students Here are two examples of loans offered by standard banking institutions: - must have a U.S. Citizen Co-signer Citibank - (Citi-Assist Loans) www.prestamosestudiantiles.com www.studentloan.com Wells Fargo Bank www.wellsfargo.com (Education Center) www.wellsfargo.com http://www.wellsfargo.com/per/student/loans/unde rgrad/education.jhtml http://www.wellsfargo.com/per/student/loans/unde rgrad/education.jhtml

20. Some Websites www.finaid.com www.iefa.com www.iefc.com www.ncaa.org http://www.collegeboard.com/student/pay/index.html Let’s take a closer look…

21. International Student.com www.internationalstudent.com (homepage) www.internationalstudent.com

22. International Student.com www.internationalstudent.com (narrowed-down) www.internationalstudent.com

23. IEFA.org – Basic Scholarship Search www.iefa.org (Homepage) www.iefa.org

24. International Student Scholarships.com www.internationalschoarship.com (Homepage) www.internationalschoarship.com

25. International Student Scholarships.com www.internationalschoarship.com (Scholarships – U.S. – Econ.) www.internationalschoarship.com

26. IIE Passport – Study Abroad Funding www.studyabroadfunding.org www.studyabroadfunding.org

27. StudyAbroad http://www.studyabroad.com/forum/financial_aid.html Study Abroad Scholarship Directory: StudyAbroadFunding.orgStudyAbroadFunding.org is a comprehensive directory of study abroad scholarships, fellowships, and grants to find funding for study outside the US at an undergraduate, graduate, or professional level of study. Study Abroad Financial Aid Websites: AIFS Minority ScholarshipsAIFS Minority Scholarships are awarded one per semester, full tuition for an AIFS study abroad program. One hundred AIFS International Scholarships are awarded annually---$1000 toward an AIFS program. American Association of University WomenAmerican Association of University Women - the largest source of funding exclusively for graduate women in the world, supports aspiring scholars around the globe, teachers and activists in local communities, women at critical stages of their careers, and those pursuing professions where women are underrepresented. Association of Commonwealth Universities - Provides lists of scholarships and fellowships to and from over 480 universities drawn from the Commonwealth countries of Africa and Asia, Australasia and the South Pacific, Canada and the Caribbean, the United Kingdom, Cyprus and Malta.Association of Commonwealth Universities British CouncilBritish Council - lists funding and scholarship information for study in the United Kingdom DAAD – German Academic Exchange ServiceDAAD – German Academic Exchange Service - The edu Undergraduate Scholarship is a flexible scholarship program which offers SHORT-TERM scholarships for participation in summer study abroad, internships, senior thesis research or summer courses at German universities and LONG-TERM scholarships for semester or year study abroad.

28. Questions??