Shaking The Money Tree

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Shaking the money tree, making the most of financial resources for international students. Presentation at the NAFSA Region X Conference by Jennifer Frankel (Envisage International) and Ruth Kamona (The City University of New York)

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Shaking The Money Tree

  1. 1. SHAKING THE MONEY TREE: MAKING THE MOST OF FINANCIAL RESOURCES FOR INTERNATIONAL STUDENTS NAFSA Region X – Atlantic City, New Jersey
  2. 2. Presenters  Jennifer Frankel Director of Financial Services International Student Insurance  Ruth Kamona University Director, Int’l Student & Scholar Services/PDSO The City University of New York
  3. 3. Agenda      Current Funding Climate Budgeting Appropriately On Campus Assistance External Aid Interactive Forum
  4. 4. 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
  5. 5. Tuition On The Rise According to MSN, “college tuition has jumped by 500% since 1985”
  6. 6. Choosing a School What is a student’s budget and what is your value proposition? Rural v. Urban  Private v. Public  Community College v. Four-Year Institution  Financial Assistance v. Personal Funds 
  7. 7. Be Budget Savvy: Help Students Select the Right School    How do you evaluate the costs for the issuance of the I-20 or DS-2019 Forms Is a complete summary of costs outlined to prospective students, (including health insurance if not mandatory)? Weighing recruitment versus advising Transparency on costs is key.
  8. 8. Budget Risk Factors     Exchange rate fluctuations (exchange rates) Interruption of funds (life changing event) Inability to stick to a budget Withdrawal of funds from sponsor
  9. 9. Other Expenses To Convey     Roundtrip airfare Potential interviews (for schools that require onsite prior acceptance) Lodging (interviews or early arrival) Athletes arrival before semester begins Cafeteria (when closed and students have to eat outside)  Dormitories (on and off campus housing)     Visa application fees SEVIS Fee Transportation (to/fro campus where applicable)
  10. 10. Post-Arrival: Orientation  Using social media:  Twitter  Facebook  Google+  Blogging  Texting  Vibe  Instagram page
  11. 11. On-Campus Employment         Cafeteria Bookstore Campus departments/offices (College Assistants) Tutoring/Writing Centers Libraries Teaching (Graduate Assistants) Computer Labs Paid Internships
  12. 12. On Campus Financial Resources      Scholarships Grants Fellowships Departmental Assistantships Stipends (USS, SGA, etc.)
  13. 13. Connecting With Students      Social media: twitter, Facebook, etc. Listserves Website Polls – track scholarships? Marketing
  14. 14. 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 or SGA: Student Government Associations,USS) – can they help? Non-Profit Organizations Religious Groups Immigration Community
  15. 15. External Free Money     Scholarships Grants Fellowships Assistantships
  16. 16. The Funding Cycle for International Students Home government or embassy Religious organizations and associations Colleges and universities Private organizations (U.S. and international) Foundations and Philanthropies International agencies
  17. 17. External Resources for International Students IEFA.org FundingUSStudy.org
  18. 18. External Resources for International Students InternationalScholarship.com AbroadPlanet.com
  19. 19. External Resources for International Students edu.fastweb.com bigfuture.collegeboard.org
  20. 20. Bridge the Gap: International Student Loans • Stafford Loan • Perkins Loan • PLUS Loan Which of these are available to an international student?
  21. 21. Compare Lenders for International Students
  22. 22. Interactive Forum    Each group gets a case study to analyze and discuss with fellow group members. As a group, discuss the issues and how you would address the problem. One member from each group will give an overview of the case study along with the approach your group would take.
  23. 23. Interactive Forum  What award programs do you offer international students at your school and how do they work?
  24. 24. Interactive Forum  Do you partner with stakeholders and how did you develop that relationship?
  25. 25. Interactive Forum  What are some challenges that your international students face when it comes to financial resources?
  26. 26. Thank you! Jennifer Frankel Ruth Kamona jfrankel@envisageinternational.com Ruth.Kamona@cuny.edu Envisage International The City University of New York 555 West 57th Street, Suite 1401 New York, NY 10019 (646) 664-8783 224 First Street Neptune Beach, FL 32266 (904) 247-1387 ext 104

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