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Potential Sources of Funding for College in America

Careful and timely planning is important to successfully financing your college education in America. This is especially true for international students.
By GPA Admin

Potential Sources of Funding for College in America

Financing your Education in the U.S.

When looking into personal resources, prospective students will need to discuss with their parents what finances are available for their yearly education.  It is also advisable to tap into other family resources because scholarships in U.S. institutions are not guaranteed for international students, and in cases where they are awarded, they usually only cover part of education and living costs

Scholarship & Financial Aid

As for financial assistance within a university or college, this mainly comes in the form of “scholarships” and “financial aid”.  Although the two terms are used interchangeably, the technical difference between the two lies in that scholarships are awarded based on merit and financial aid is granted based on need.  Merits that may lead to a student’s scholarship award include demonstration of special academic achievement, outstanding talent in sports and the arts, commitment to community service, leadership, etc.  And for financial aid to be granted, a student must prove a financial need by submitting documents pertaining to family income and assets. 

Please note that not all U.S. institutions offer financial aid to international students.  In fact, only less than half of the universities and colleges offering Bachelor’s degrees provide financial assistance to students who are not U.S. citizens or permanent residents.  Therefore it is important to research carefully which institutions offer aid to international students.  If offered, in addition to scholarships and financial aid, assistance also comes in the form of grants,  part-time work programs and even sometimes in loans.

Government Grants

Alternatively, another source of financial assistance available to international students is home country funds.  Some governments, corporations and foundations in other countries offer scholarships to their students who wish to study abroad.  Looking into these local sources could help reduce the cost of an international education.

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