The document provides information on financial aid for international students, defining it as money from outside the family to pay for education. It explains the types and sources of aid, including institutional, private, and government sources, as well as the application process and required forms. The document also offers advice on creative ways international students can pay for their education, such as scholarships for IB coursework or co-op education programs.

1. FINANCIAL AID FOR
INTERNATIONAL
STUDENTS

2. GOALS
 What Financial Aid Is
 Terms & Acronyms
 Types & Sources of Aid
 Application Process & Forms
 Creative Ways to Pay
 Timeline

3. INTERNATIONAL OR
FOREIGN STUDENTS
 Defined as:
Students that will need a visa (F-1) to
study in the United States

4. WHAT IS FINANCIAL AID?
Money supplied by a source outside the
family to help pay for the cost of education.
In reality, many colleges separate
Financial Aid (need-based)
Scholarships (merit-based)

5. WHAT IS FINANCIAL AID?
Philosophy: the beneficiary of the education
has the primary responsibility for it’s cost
How aid is distributed is influenced by the
government’s view of how higher education
should be funded.
 US vs. UK/Canada/Scandanavia
 1.
 2.
 3.
 4.
Student
Parent
Institution
Government

6. FINANCIAL AID IS...
 An assistance device
 Not designed to replace a family’s (primary)
contribution
 Not based on what the parent’s would LIKE to pay

7. COST OF US INSTITUTIONS

8. TERMS
 Need Based
 Merit Based
 Need Blind
 Need Aware (Most US Colleges & Universities)
 Unmet Need

9. ACRONYMS
 COA – Cost of Attendance
 EFC – Expected Family Contribution
 SAR – Student Aid Report
 CSS Profile – College Student Scholarship

10. EXPECTED FAMILY
CONTRIBUTION
Parent’s Contribution
+ Student’s Contribution
Expected Family Contribution
Calculated ability to pay may not match
family willingness to pay!

11. DETERMINING NEED
Cost of Attendance
- Expected Family Contribution
Eligibility or Financial Need
COA
• Billable Costs: Tuition, Room &
Board, Fees, Health Insurance
• Indirect Costs: Books, Spending
Money, Transportation from Manila,
etc.

12. SOURCES OF AID
 Institutional
 Private
 Student/Family
 Community Organizations
 Civic Groups
 Religious Organizations
 Businesses
 Industry

13.  Measure of Quality
 Academic
 Athletic
 Artistic
 Special Characteristic
 Family resources not a factor
 Award levels based on sponsors’
goals, institutional priorities and
funding levels
Always double check to see if merit aid is an “automatic”
process or a separate application.

14.  Family ability to pay
 Eligibility may vary
 Cost of college
 Availability of funding
 College calculates family
contribution
 College awards aid based on level
of need and available funding

15. HOW TO APPLY

16. APPLYING FOR FINANCIAL
AID
 Research required: forms and deadlines
 International Financial Aid Form
 CSS/Financial Aid PROFILE
 College-Specific Forms
NOTE: Certification of Finances is needed for
ALL non-US citizens.

17. CERTIFICATION OF FINANCES
 Documentation to provide information about the
amount of funding the student has available
 School based form
 Bank letter
 College Board form
ALSO a requirement for
issuing the I-20 visa
documentation

18. INTERNATIONAL STUDENT
FINANCIAL AID APPLICATION
 College Board Generic Form
 School based form
Be sure to use the form
the school asks for!

19. CSS/FINANCIAL AID
PROFILE
http://student.collegeboard.org/css -financial-aid-profile
 Verify if the university also requires CSS Profile
 Beyond the FAFSA: Medical
expenses, elementary and
secondary school tuition, home
equity, variety of unusual
circumstances
 Tailored to an institution
 Fee based form

20. FORMS & DOCUMENTS
 Parent tax returns
 Student tax returns
 Divorced or separated parent information
 Other information to verify




Income
Assets
Family Size
Special circumstances

21. WWW.INTERNATIONALSCHOLARSHIPS.COM

22. CREATIVE WAYS TO “PAY”

23. IB COURSE WORK
Credit Or
Scholarships
http://blogs.ibo.org/funding-opportunities/
Did you know that most
Florida universities will
grant a full year of credit for
an IB Diploma score of 32?
Also Southern Methodist,
Ohio Wesleyan, U of
Minnesota, Oregon State,
and other public
universities

24. NON-RESIDENT TUITION
SCHOLARSHIP
•
•
•
•
•
•
•
Oklahoma State
Colorado State
Auburn
U of Texas
U of Washington
Idaho State University
Minnesota State University Campuses

25. OLIN COLLEGE OF ENGINEERING:
HALF TUITION SCHOLARSHIP

26. UNIVERSITY OF MINNESOTA:
NEW NEED-BASED SCHOLARSHIPS

27. WOMEN’S COLLEGES
Women’s colleges are
traditionally generous with
scholarships for international
students.

28. COMMUNITY/JUNIOR
COLLEGE
Pay lower
tuition for two
years
Guaranteed
matriculation
to a top
university

29. COMMUNITY/JUNIOR
COLLEGE
Pay lower
tuition for two
years
Guaranteed
matriculation
to a top
university

30. FREE MASTER’S DEGREE
http://www.clarku.edu/undergraduate-admissions/majors-academics/tuition-free-masters.cfm

31. CO-OP EDUCATION
Wor k, Make Money, Ear n Credit at the
SAME TIME!
• California Polytechnic State
•
•
•
•
•
•
•
•
•
•
•
•
•
•
University, Sam Luis Obispo
University of Cincinatti
Georgia Institute of Technology
Johnson & Wales
Kettering
Long Island University, CW
Post
University of Louisville
UMass, Dartmouth
Merrimack College
Miami Dade College
University of Michigan,
Dearborn
Northeastern University
Pace University
Rochester Institute of
Technology
University of Toledo

32. WHAT TO DO NOW

33. JUNIOR YEAR
 Research colleges and financial aid websites
thoroughly
 Determine what your real level of need is
 Have realistic conversations with students about
what you can afford now
 Talk to representatives who visit ISM. They don’t
work for the Financial Aid office, but can provide
some insight.
 Visit the Financial Aid office when visiting campuses
 Do well academically

34. SENIOR YEAR: 1 ST
SEMESTER
 Get organized
 Deadlines: Scholarship/Aid deadlines might be earlier
 Complete college applications
 Register for CSS Profile if needed
 Gather information needed for:
 CSS Profile
 International Financial Aid Form
 Check each university’s website

35. SENIOR YEAR: 2 ND
SEMESTER
 February – April




Receive award letters
Evaluate awards
Contact University if necessary
Make decisions
 April – June




Follow university’s procedures
Send required forms
Signatures
Deposit

36. POINTS TO REMEMBER

37. POINTS TO REMEMBER
 US View: Paying for university may require some
sacrifice (vacations, helpers, etc.)
 Deadlines vary by institution
 Write or call the institution if any information is
unclear or if there are any unanswered questions
(DO NOT ASSUME!)
 Be prepared to provide documentation of family
resources

38. POINTS TO REMEMBER
 Some aid requires you to re-apply every year
 Some aid may be contingent on grades/GPA to
maintain aid
 Keep copies of forms completed as well as
supporting documentation
 Tax forms
 Employer’s statements
 Bank statements

39. THANK YOU FOR
COMING!
This presentation will be posted on the HS
Guidance blog in the next week.
http://guidance.ism-online.org/