Financing Your Graduate U S Studies

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Como financiar tus estudios en EUA!

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  • Financing Your Graduate U S Studies

    1. 1. Financing Your Graduate Studies in the U.S.
    2. 2. Choosing the best program for YOU <ul><li>Start Early </li></ul><ul><li>Identify your long term goals </li></ul><ul><li>Determine your available time </li></ul><ul><li>Research diverse institutions and professors </li></ul><ul><li>Consult with an educational adviser </li></ul>
    3. 3. Before You Apply… <ul><li>Assess your financial situation </li></ul><ul><li>Determine your contribution </li></ul><ul><li>Consider different types of institutions </li></ul><ul><ul><li>Public vs. Private </li></ul></ul><ul><li>Remember additional costs: application fees, postage, testing </li></ul><ul><li>Know that tuition & fees will increase every year (around 5%) </li></ul><ul><ul><li>Financial Aid options will too </li></ul></ul>
    4. 4. General Rules to Consider <ul><li>Financial Aid is limited to the most PROMISING applicants with: </li></ul><ul><ul><li>Demonstrated academic potential </li></ul></ul><ul><ul><li>Research and teaching experience </li></ul></ul><ul><ul><li>A polished application </li></ul></ul><ul><li>Start the application process very early </li></ul><ul><li>Do your research </li></ul><ul><ul><li>At an EducationUSA center and on the internet </li></ul></ul><ul><li>Enhance your application </li></ul>
    5. 5. Contact the Department <ul><li>Types of questions to ask: </li></ul><ul><li>What does it take to be admitted and to receive funding in this department? </li></ul><ul><li>What are the common types of financial aid that students in the department have received? </li></ul><ul><li>What other suggestions do you have for reducing costs while studying at your institution? </li></ul><ul><li>If they can’t answer these questions, don’t apply! </li></ul>
    6. 6. Exams <ul><li>TOEFL iBT </li></ul><ul><ul><li>www.ets.org/toefl </li></ul></ul><ul><ul><li>Various authorized centers in Mexico City </li></ul></ul><ul><li>GRE </li></ul><ul><ul><li>www.ets.org/gre </li></ul></ul><ul><ul><li>Mexico City, Guadalajara and Monterey </li></ul></ul><ul><li>GRE Subject Tests </li></ul><ul><ul><li>(Biochemistry, Cell and Molecular Biology, Biology, Chemistry, Computer Science, Literature in English, Mathematics, Physics, Psychology) </li></ul></ul><ul><li>GMAT </li></ul><ul><ul><li>www.mba.com </li></ul></ul><ul><ul><li>Mexico City, Guadalajara and Monterey </li></ul></ul>
    7. 7. The Application <ul><li>Depends on the program or university </li></ul><ul><li>Typical Requirements: </li></ul><ul><ul><li>School/program’s application form </li></ul></ul><ul><ul><li>Statement of purpose </li></ul></ul><ul><ul><li>Letters of recommendation (2-3, translation required) </li></ul></ul><ul><ul><li>Official undergraduate transcripts (translation required) </li></ul></ul><ul><ul><li>Exams (TOEFL, GRE, GMAT etc.) </li></ul></ul><ul><ul><li>Résumé </li></ul></ul><ul><ul><li>Sometimes a portfolio or sample of past work </li></ul></ul><ul><ul><li>Financial statement </li></ul></ul>
    8. 8. Set Your Application Apart <ul><li>Enhance your application: </li></ul><ul><li>Is your statement of purpose the best it can possibly be? Invest time in perfecting it! </li></ul><ul><li>Cultivate effective letters of recommendation. </li></ul><ul><li>Select departments/professors interested in supporting your research. </li></ul><ul><li>Highlight community involvement and community service as they are attractive assets. </li></ul>
    9. 9. Calculating your expenses <ul><li>Application Fees ($35-100/institution) </li></ul><ul><li>Tuition ($15,000-30,000+/yr) </li></ul><ul><li>Room & Board ($5,000-10,000/yr) </li></ul><ul><li>University Student Fees ($100-$300/term) </li></ul><ul><li>Medical and Dental Insurance </li></ul><ul><li>Travel Expenses </li></ul><ul><li>Living Expenses </li></ul>
    10. 10. Graduate Financial Aid Sources U.S. University 44% Personal/Family 44%
    11. 11. Patterns and Trends in Funding <ul><li>More funding is available for: </li></ul><ul><li>PhD programs </li></ul><ul><ul><li>compared to master’s programs. </li></ul></ul><ul><li>Research and Doctoral universities </li></ul><ul><ul><li>compared to master’s institutions </li></ul></ul><ul><li>Academic programs </li></ul><ul><ul><li>compared to professional programs </li></ul></ul><ul><li> (law, medicine, dentistry, MBAs, etc.) </li></ul><ul><li>Many programs don’t offer funding until the second year. </li></ul>
    12. 12. Funding Varies by Field <ul><li>Engineering, computer science, math </li></ul><ul><ul><li>82% of PhD candidates are funded </li></ul></ul><ul><ul><li>55% of master’s candidates </li></ul></ul><ul><li>Humanities </li></ul><ul><ul><li>56% of PhD candidates are funded </li></ul></ul><ul><ul><li>41% of master’s candidates </li></ul></ul><ul><li>Business, law, and other professions: funding is rare and loans are common </li></ul>
    13. 13. Financial Aid Programs <ul><li>U.S. Universities </li></ul><ul><li>Government </li></ul><ul><li>Private Foundations </li></ul><ul><li>Loans </li></ul>
    14. 14. Types of Funding: U.S. Universities Assistantships <ul><li>Teaching (TA): Awarded by department. Must demonstrate strong spoken English and teaching experience. Can be in other departments (languages, math). </li></ul><ul><li>Research (RA): Awarded by professors. Contributes to your thesis research. </li></ul><ul><li>Graduate (GA): Awarded by grad school. Administrative, library. </li></ul>
    15. 15. The Professor <ul><li>Professors manage teaching and research assistantships. </li></ul><ul><li>You need to communicate with the professors </li></ul><ul><li>Learn about them and their research from the school’s website and scholar.google.com </li></ul><ul><li>Write to them about your academic interests and what you can contribute to their research </li></ul><ul><li>They should know you before they receive your application! </li></ul>
    16. 16. Types of Funding: U.S. Universities Out-of-State Tuition Waivers <ul><li>Several universities and/or state governments offer out-of-state tuition waivers </li></ul><ul><ul><li>(based on country of origin, region or ethnicity) </li></ul></ul><ul><li>In Texas: PASE & Good Neighbor Scholarship Program </li></ul><ul><ul><li>Mexican nationals who demonstrate financial need pay in-state tuition at public universities in Texas </li></ul></ul><ul><li>For more information visit each university’s website </li></ul>
    17. 17. Types of Funding: Government Fulbright-Garcia Robles <ul><li>Scholarships for students, research, teacher exchange, and resident scholars </li></ul><ul><li>Variety of fields of study, </li></ul><ul><ul><li>Excludes medicine, dentistry and veterinary studies </li></ul></ul><ul><li>Scholarship: $15,000 for 9 months </li></ul><ul><ul><li>renewable for 1 year for Master’s, 2 years for Doctorate </li></ul></ul><ul><li>Commission selects student then helps find university </li></ul><ul><li>J-1 Visa obligates students to return to Mexico for a minimum of 2 years afterwards </li></ul><ul><li>www.comexus.org.mx </li></ul>
    18. 18. Types of Funding: Government CONACYT <ul><li>Full and partial scholarships for graduate students already accepted by universities </li></ul><ul><li>Give preference to PhD students </li></ul><ul><li>Focuses on science and technology </li></ul><ul><li>Partners with U.S. universities </li></ul><ul><li>www.conacyt.com.mx </li></ul>
    19. 19. Types of Funding: Foundation Magdalena O. Vda. De Brockmann (MOB) <ul><li>Full and partial scholarships for graduate students already accepted by universities </li></ul><ul><li>At least 2 years of work experience </li></ul><ul><li>Any field of study </li></ul><ul><ul><li>except medicine, architecture, sports and fine arts </li></ul></ul><ul><li>Must return to Mexico for a minimum of 5 years </li></ul><ul><li>Must reimburse MOB 30% of the scholarship within 3 years </li></ul><ul><li>www.becasmob.org.mx </li></ul>
    20. 20. Types of Funding: Foundation American Association of University Women (AAUW Foundation) <ul><li>Fellowship for full-time study or research to support community-based projects that are designed to improve the lives of women and girls in the fellow’s home country. </li></ul><ul><li>Female graduate students already accepted by universities </li></ul><ul><li>One year: </li></ul><ul><ul><li>$18,000 for Master’s, $20,000 for Doctorate $30,000 for post-doctorate </li></ul></ul>
    21. 21. Types of Funding: Mexico Loans FIDERH, FUNED & OAS <ul><li>FIDERH (Banco de Mexico): loan for graduate degrees </li></ul><ul><ul><li>Funding for up to 3 years </li></ul></ul><ul><ul><li>Must repay the loan within 10 years </li></ul></ul><ul><ul><li>www.fiderh.org.mx </li></ul></ul><ul><li>FUNED: loan for students accepted by a university </li></ul><ul><ul><li>Covers most expenses </li></ul></ul><ul><ul><li>Must repay the loan within 6 years </li></ul></ul><ul><ul><li>www.fundacionbeca.net </li></ul></ul><ul><li>OAS-PAN: Interest-free loans for Latin American students </li></ul><ul><ul><li>Must complete studies in 2 years </li></ul></ul><ul><ul><li>Must repay the loan within 5 years </li></ul></ul><ul><ul><li>www.oas.org/rowe </li></ul></ul>
    22. 22. Types of Funding: U.S. Loans <ul><li>Most U.S. banks require U.S. citizens or permanent residents to co-sign the loan </li></ul><ul><li>Some universities have made arrangements with local banks </li></ul><ul><li>For more information on loans, look at International Education Finance Corporation www.iefc.com </li></ul><ul><li>Sallie Mae International www.salliemae.com </li></ul><ul><li>CitiAssist www. studentloan.citibank.com </li></ul>
    23. 23. Tips for Reducing Costs <ul><li>Request an application fee waiver </li></ul><ul><li>Mail all your applications to one person in the U.S. to send them to separate universities </li></ul><ul><li>Prepare and study for admissions exams so you only have to take them once </li></ul><ul><li>Research options for taking summer courses </li></ul><ul><li>Find a job on campus ($1,000-2,000/semester) </li></ul><ul><li>Apply to be a Resident Assistant after your first year (save on living expenses) </li></ul>
    24. 24. Homework to get started <ul><li>Make an advising appointment </li></ul><ul><li>Visit www.petersons.com and create a list of potential schools </li></ul><ul><li>Find out the deadlines , costs , and requirements for each school. </li></ul><ul><li>Assess how much you (and your family or sponsor) can contribute to your higher education </li></ul><ul><li>Visit www.fundingusstudy.org and create a list of possible scholarship opportunities. </li></ul>
    25. 25. The student visa <ul><li>3 types of student visas </li></ul><ul><ul><li>F-1 SEVIS I-20 </li></ul></ul><ul><ul><li>J-1 DS-2019 </li></ul></ul><ul><ul><li>M-1 SEVIS I-20 </li></ul></ul>http://www.usembassy-mexico.gov/smxvisitar.html
    26. 26. Thank You! <ul><li>EducationUSA </li></ul><ul><li>Liverpool 31, Col. Juárez </li></ul><ul><li>06600 México, D.F. </li></ul><ul><li>Horario: 11:00 – 17:00 de lunes a viernes </li></ul><ul><li>Tel: 5703-0167, 5080-2801 </li></ul><ul><li>Email: info@iielatinamerica.org </li></ul><ul><li>http: // educationusa.state.gov </li></ul><ul><li>http :// iielatinamerica.org </li></ul>

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