Financial Aid for Undergraduate International StudentsPrepared byNelumSenadiraStudent AdvisorUs-SL-Fulbright Commission(adopted form presentations by Nancy Keteku, Linda Heaney and MihaelaArsene)

Hurdels!90% of SLKN students require massive financial aidScholarships : Virtually noneLoans : local options : study loan, Few optionsLoans : Us options : study loan from US bank (U.S co signer as a stumbling block)Deferred Admission???Limited funding opportunities for transfer studentsInt’l students cannot enroll as freshman if they have earned credit in their home country

Myths and MindsetsWhat assumptions do students make about financing their educationDo you needfinancial aid, or do you merely want it?What would your options be if there were no financial aid?Think realistically

Basic PremisesTwo types of aid : need-based and merit-basedEach school has it’s own budget and policyAdmission with financial aid can be ten times more competitive than admission without aidStudents must plan their finances from the beginning of the admissions process, NOT after the admissions decision is madeDO YOUR HOME WORK!

Student self assesentAsk yourself : Do I haveGood Scores / expected resultsA good GPA, school profileSpecial talentsSignificant accomplishmentsPowerful recommendationsNecessary SAT II, even if not requiredWhat will I add to the diversity of the US classroom?

Where’s the money?Need-blind admissions : Full need metNeed-sensitive decisionsNeed-based, but with limits to maximum amount givenStandard, flat amountEarmarked : countries, majorsPrivate, liberal arts colleges have the mostKNOW EVERY SCHOOLS BUDGET AND POLICY(or at least the 120 most generous ones )

Need-based Aid : Family FundingWith need-based financial aid, the family is expected to contribute to as much as they can affordBe realistic : How much can the family afford to pay, per year for four yearsThe more you need, the more competition you will faceTHEREFORE, DON’T ASK FOR MORE THAN YOU GENUINLY NEED

The Family Contribution:How much?Calculated from parents’ income, assets, living costs, siblings in college and special circumstances (illnesses, rich uncle)Student’s self help: On campus jobBe honest and Realistic! Don’t ask “How much is enough?”Know your FC before you start selecting schoolsInternational students Financial Aid Form

How to compete for Need-Based Financial AidThe Competitive AdvantageRESEARCH AND ENCHANCEMENTResearch which colleges award aid, and how muchEnhance and strengthen your application to make them more compellingDistinguish yourself in a highly competitive applicant pool: It’s not enough to be “just a good student”

Merit-Based ScholarshipsUsually small, less than $5000Based on special quality or talent: music, art, academic performance (GPA or SAT scores)Must be exceptionally distinguished www.guaranteed-scholarships.com

Sports ScholarshipsRequires demonstrated ability, such as winning regional or national competitionsBasic academic competence: high school graduate, good SAT scoresLearn NCAA rulesCorrespond directly with coaches

Cost DefraymentSave on housing costs : Live off campusTake heavy course load, graduate earlyAttend community college for first two yearsLook for best buys, out-of-state tuition waiversWork on campusSearch for schools that offer a good value of moneyReducing tuition through credit transfer

Primary sources for Aid for Int’l studentsFamily and relativesU.S. colleges and universitiesScholarships GrantsLoans Internships (co-op)Campus EmploymentChallenges : No standard methodology / No “right” approach

Student research for fine-tuning the college matchCollege vision and mission (key words)College freshman profileCollege handbooks: entrance requirements“ Secondary school records and personal character most important, followed by class rank, recommendations, essay, talent, activities” – Kenyon College Is this a good choice for an applicant whose strength points are test scores OR extra-curricular activities???

Fine tuning: The applicant’s viewReflection during a student’s admission to Middlebury CollegeShow the college that you are committed to your own work and that you are proud of who and what you are. They love dedication and determination. Therefore, DO tell them what aspect made you choose that particular school. For instance, “I’m very interested in foreign languages and am applying to Middlebury precisely for this reason. You have the best language school in the US ”

Fine tuning: The Admission officer’s viewMiddlebury Admission officer“We liked your achievements at your high school: you really excelled and did well in your final examination. We liked your varied interests, your essays and the sensitivity you displayed, and your willingness to try again to Middlebury. You seemed to be really interested in what we have to offer and to know Middlebury accurately. Clearly you have done your research. Your teacher recommendations were exceptional and you put a lot of thought and work in the application, revealing quite q bit about yourself in the process….

Contd……To sum it up, we could see you contribute to small discussion-based classes, we felt that you’d make a wonderful roommate for any student, we could foresee contributions to the larger community, and your spirit of not being discouraged is impressive, We love dedication and determination. You have lots of leadership potential and qualities”

How Aid recipients are selectedHighest academic profilesOutstanding talentCompelling circumstancesCountry or Region specificSocio-economic mixUnder-represented countryStudent’s interest level