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![Evaluating costs
Tuition
Room and Board
Other
$10,500
$ 7,686
$ 3,670 [books, health
insurance, fees]
TOTAL COST
$21,856](https://image.slidesharecdn.com/financialaidpresentationregionivfinal-131111092440-phpapp01/85/Can-I-Afford-It-8-320.jpg)
Uploaded byInternational Student Insurance
Can I Afford It?
The document discusses budgeting and affordability for international students, highlighting case studies of financial hardship and potential solutions. It evaluates costs associated with tuition, living expenses, and funding sources, and emphasizes the importance of transparent financial processes for student recruitment and retention. Additionally, it covers various forms of financial aid and scholarships available to international students, and the challenges they may face regarding budgeting and expenses.
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Can I Afford It?
- 1. CAN I AFFORDIT? A LOOK AT BUDGETING AND AFFORDABILITY FOR YOUR INTERNATIONAL STUDENTS NAFSA Region IV Rapid City, SD
- 2. Presenters Apinant Hoontrakul Marketing Manager EnvisageInternational Kevin McMahan Associate Dean for Intercultural Development Northwestern College Mililani Hayselden International Program Advisor Park University
- 3. Overview Case studies (10minutes discuss, 5 minutes each group) Evaluating costs Affordability, recruitment & retention Sources of funding Interactive forum
- 4. Case Study Instructions Wewill 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 Acollege 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 MorrisonKwong 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 Aninternational 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 andBoard Other $10,500 $ 7,686 $ 3,670 [books, health insurance, fees] TOTAL COST $21,856
- 9. Be Cost Savvy: Howdo 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 Lodgingand living expenses Students arriving before semester begins Cafeteria Dormitories Health insurance and medical Transportation with the US
- 11. Primary Sources ofFunding 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 TheRise According to MSN, “college tuition has jumped by 500% since 1985”
- 13. Employment On-campus employment andwith vendors Curricular Practical Training (CPT) Optional Practical Training (OPT) Economic Hardship
- 14. Internal Sources ofFunding University’s scholarship and financial Aid Academic Scholarships Athletic Grants Emergency fund
- 15. Internal Sources ofFunding Northwestern College Guaranteed 1/3 of tuition Academic, Athletic, Artistic scholarships International endowed scholarships International Grant (need-based) Limited emergency funds
- 16.
- 17. Choosing a School Whatis 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 StraightTalk ? 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.
- 23. External Free Money Scholarships Grants Fellowships Home government orembassy Religious organizations and associations Colleges and universities Private organizations (U.S. and international) Foundations and Philanthropies International agencies
- 24. Who Can YouTurn 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 forInternational Students IEFA.org FundingUSStudy.org
- 26. External Resources forInternational Students InternationalScholarship.com AbroadPlanet.com
- 27. External Resources forInternational Students edu.fastweb.com bigfuture.collegeboard.org
- 28. Bridge the Gap: InternationalStudent Loans • Stafford Loan • Perkins Loan • PLUS Loan Which of these are available to an international student?
- 29. Compare Lenders forInternational Students
- 30. Budget Risk Factors Exchangerate fluctuations Interruption of funds (life changing event) Inability to stick to a budget Withdrawal of funds from sponsor
- 31. Post Arrival Assistance Mealplans Student discounts at local stores Shuttle Service Budgeting Orientation
- 32. Interactive Forum What awardprograms 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 doyou come up with estimated cost for living expenses? International student survey? Other statistics?
- 34. Interactive Forum Do youpartner with stakeholders and how did you develop that relationship?
- 35. Interactive Forum What aresome challenges that your international students face when it comes to financial aid?
- 36. Thank you! Apinant Hoontrakul KevinMcMahan 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