A look at budgeting and affordability for your international students. Presentation at NAFSA Region IV in Rapid City SD as part of the NAFSA regional conference in 2013

1. CAN I AFFORD IT?
A LOOK AT BUDGETING AND AFFORDABILITY FOR YOUR
INTERNATIONAL STUDENTS
NAFSA Region IV
Rapid City, SD

2. Presenters

Apinant Hoontrakul
Marketing Manager
Envisage International

Kevin McMahan
Associate Dean for Intercultural Development
Northwestern College

Mililani Hayselden
International Program Advisor
Park University

3. Overview





Case studies (10 minutes discuss, 5 minutes each group)
Evaluating costs
Affordability, recruitment & retention
Sources of funding
Interactive forum

4. Case Study Instructions

We will analyze 3 case studies of financial
hardship.

As a group, discuss the issues and how you
would address the problem. (10 minutes)

Each group share their findings

5. Case Study #1
A college offers its financial aid package to a new
student, knowing that it falls short of the students’ need
as stated on financial documents. He responds that he
can’t afford it, but the offer does not change. The
student pays the deposit required, and provides bank
statements showing sufficient funds available.
 How much do you know about their financial
resources? Do you issue an I-20? Are there other
questions to ask?


6. Case Study #2
Morrison Kwong from China is a recipient of an
athletic scholarship. He will be arriving early on
July 15th before the semester begins. He will
also be participating in athletic practice during
this time.
What issues do you need to consider for this
students budget?

7. Case Study #3
An international student from Saudi Arabia
comes to your office saying that she doesn’t
have enough money to cover her books and
other classroom supplies. You remember
speaking to her three days prior and she had
purchased a new expensive car.
How do you guide this student and get her back
on the road to financial success?

8. Evaluating costs
Tuition
Room and Board
Other
$10,500
$ 7,686
$ 3,670 [books, health
insurance, fees]
TOTAL COST
$21,856

9. Be Cost Savvy:


How do you evaluate the costs on-campus for
the I-20?
Is a complete summary of costs outlined to
prospective students?

10. Costs




Application, visa/SEVIS fees
Airfare
Lodging and living expenses
Students arriving before semester begins
 Cafeteria
 Dormitories


Health insurance and medical
Transportation with the US

11. Primary Sources of Funding
2011-2012
Personal and Family Funds
(63%)
U.S. College or University (23%)
Home Government/University
(6%)
Current Employment (5%)
U.S. Government (1%)
U.S. Private Sponsor (1%)
Foreign Private Sponsor (1%)
Other Sources (1%)
International Organization (0%)
Open Doors Report 2012

12. Tuition On The Rise
According to MSN, “college tuition has jumped by 500% since 1985”

13. Employment




On-campus employment and with vendors
Curricular Practical Training (CPT)
Optional Practical Training (OPT)
Economic Hardship

14. Internal Sources of Funding

University’s scholarship and financial Aid
 Academic
Scholarships
 Athletic Grants
 Emergency fund

15. Internal Sources of Funding

Northwestern College
 Guaranteed
1/3 of tuition
 Academic, Athletic, Artistic scholarships
 International endowed scholarships
 International Grant (need-based)
 Limited emergency funds

16. Affordability, Recruitment &
Retention

17. Choosing a School
What is the student’s budget and what is your
school’s value proposition?
Rural v. Urban
 Private v. Public
 Community College v. Four-Year Institution
 Financial Assistance v. Personal Funds


18. Bartering Educational Costs ?!?

Institutional Goal
 Assisting
as many students as possible
 within budget

Student/Family Goal
 Getting
the best deal

19. Haggling or Straight Talk ?

Negotiation Process
 Financial
disclosure – Declaration of Finances
 Affordable?
Let’s make a deal!
 High need? Need more data

CSS Financial Aid Profile:
http://student.collegeboard.org/css-financial-aid-profile
offer – Financial Certification Form
 Award acceptance – signature, deposit, bank
statements
 Award

21. Forever & Always ?


Ideal = honest, full disclosure process that
never changes
Too bad – it’s an imperfect world
 When
students know they don’t have enough
 When students don’t know they don’t have
enough
 When they had enough, but it’s not enough
anymore

22. Sources of funding

23. External Free Money



Scholarships
Grants
Fellowships
Home
government
or embassy
Religious
organizations
and
associations
Colleges and
universities
Private
organizations
(U.S. and
international)
Foundations
and
Philanthropies
International
agencies

24. Who Can You Turn To: Institutional Support

Alumni Association(s)


International Clubs




Involvement on campus can include mobilizing clubs to
raise funds for scholarships.
Student Organizations


Can your alumni associations help you develop a
scholarship fund?
Many schools have international organizations (like a
Chinese student association) – can they help?
Non-Profit Organizations
Religious Groups
Immigration Community

25. External Resources for International
Students
IEFA.org
FundingUSStudy.org

26. External Resources for International
Students
InternationalScholarship.com
AbroadPlanet.com

27. External Resources for International
Students
edu.fastweb.com
bigfuture.collegeboard.org

28. Bridge the Gap:
International Student Loans
• Stafford Loan
• Perkins Loan
• PLUS Loan
Which of these are available to an
international student?

29. Compare Lenders for International
Students

30. Budget Risk Factors




Exchange rate fluctuations
Interruption of funds (life changing event)
Inability to stick to a budget
Withdrawal of funds from sponsor

31. Post Arrival Assistance




Meal plans
Student discounts at local stores
Shuttle Service
Budgeting Orientation

32. Interactive Forum


What award programs do you offer
international students at your school and how
do they work?
How much do you rely on these awards to
attract students?

33. Interactive Forum

How do you come up with estimated cost for
living expenses?
 International
student survey?
 Other statistics?

34. Interactive Forum

Do you partner with stakeholders and how did
you develop that relationship?

35. Interactive Forum

What are some challenges that your
international students face when it comes to
financial aid?

36. Thank you!
Apinant Hoontrakul
Kevin McMahan
Mililani Hayselden
ahoontrakul@envisageinternational.com
kmcmahan@nwciowa.edu.edu
Mililani.hayselden@park.edu
Envisage International
Northwestern College
Park University
224 First Street
208 8th St. SW
8700 NW River Park Dr
Neptune Beach, FL 32266
Orange City, IA 51041
Parkville, Mo 64152
(904) 247-1387 Ext 105
(712) 707-7016
(816)584-6831