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OVERVIEW

Meeting the enormous expense of an education in the U.S. often requires significant student dedication to obtain adequate funding. Typically, students and their families pay a higher proportion of education costs. According to the Institute of International Education (IIE) Open Doors 2005 statistics, almost 67 percent of the international students in the United States financed their education through personal and family sources in 2003-2004. Home country governments, current employment, U.S. or foreign private sponsors, U.S. government, international organisations, and American colleges and universities funded the remaining 33 percent. Of that, 23 percent received funds from American colleges and universities.

Table IIE below presents more detailed information on International Students by Primary Source of Funds for academic year 2003/2004

Financial aid is limited and difficult to find. In most cases, foreign students are in competition with American students for financial aid funds. Therefore foreign students are encouraged to explore all opportunities for funding in their own country before applying for US-based aid.

Financial assistance from colleges is awarded at the beginning of the academic year and is rarely available for students entering mid-year in January or at other times.

Opportunities for financial aid as well as types of financial aid are delineated below according to undergraduate and graduate students' status.

UNDERGRADUATE

Funds available in the U.S. for undergraduate study are limited and can be mostly obtained from private colleges and universities. The amount of possible funding may range from $500 to full funding up to $30,000-$40,000 per year in some schools, although rarely covering more than tuition expenses. Very often financial assistance is based on schools desire to diversify their student body. If a school has no students from Russia, or has students from Moscow but not Siberia, they may be willing to fund such a student to increase diversity. (Saying "we have students from 50 countries" sounds more impressive than "we have students from 10 countries.")

Despite encouraging figures on full funding mentioned above, one needs to remember that it is given by a limited number of schools (mostly by top U.S. colleges) and that competition for it is very tough. Also keep in mind that more aid is available for freshman students than for those transferring in from other institutions.

Who Should Apply?
Students who have a greater chance of obtaining financial assistance usually have the following:
• Evidence of high academic achievement
• High standardized test scores (SAT, TOEFL)
• Demonstrable financial need but enough private funding to at least cover part of the cost. Only the most exceptional students might expect to get full support.
• A unique talent or skill, demonstration of leadership qualities, or a record of meaningful involvement in extracurricular activities
• Individualized letters of recommendation enumerating the students' abilities

Types of Financial Aid
The aid is usually provided by a US college or university. How substantial the financial support will be depends on the kind of aid that is available. Frequently it will be a combination of the types listed below:
• Merit Based Scholarship -- Based on academic qualifications irrespective of need. The student has no work or repayment obligations.
• Need Based Scholarship -- Aid is based on financial need but usually in conjunction with academic achievement. The student has no work or repayment obligations.
• Athletic Scholarship -- Generally based on athletic ability of the applicant but not completely irrespective of academic performance.
• Part-time Campus Employment -- The student is able to earn money by working on campus for a certain number of hours per week. Some schools require all students to take on-campus jobs thereby reducing the overall cost of education at that university.
• Co-operative Programs -- These programs allow students to alternate periods of full-time study with full-time work. The work generally begins at the end of the sophomore year and adds one year to a 4-year degree.
• University Loans -- Students receive loans, that are expected to be repaid after graduation. (Russian students are eligible for som eof them in case their American co-signer).
• Advanced Standing -- If a student qualifies, s/he can apply for advanced placement at the institution s/he wants to study at. This does not constitute financial aid in the true sense of the word but is a means of cutting down on costs of the program by reducing its duration.

GRADUATE

Although competition is very intense, more financial aid is available for graduate study and research than for undergraduate study. Aid may come from either public or private universities or private foundations and organizations. There tends to be greater support available for students in the hard and natural sciences, engineering, and mathematics. Limited funding is also available in the humanities and social sciences. Almost no funding is offered in the fields of business, law, and medicine.

Who Should Apply?
Students will have a greater chance of obtaining financial assistance if they have:
• Evidence of high level of academic achievement
• High standardized test scores (TOEFL,GRE, GMAT)
• Demonstrable financial needs but private funding to cover some of the cost. Financial need is not as crucial for some awards at the graduate level
• A field of study or have teaching experience in a subject offered at the undergraduate level (increased opportunities exist for teaching assistantships)
• A field of specialization or research interest, which parallels those of the university's department and faculty or the private funding source (increases opportunities for research assistantships and grants)

Types of Financial Aid
Sources of funds can come from US universities, private foundations, US government agencies, civic organizations, private companies, etc.
• Scholarships -- Based on academic merit. Generally require no repayment obligations. They usually cover full or partial tuition.
• Fellowships -- Based on academic merit and generally have no teaching or research obligations. Fellowships usually cover tuition plus cash stipend.
• Grants -- Generally based on financial need and merit with no work or research obligations.
• Teaching Assistantships -- Awards are based on academic qualifications. They usually require a student to work 15 to 20 hours per week in such areas as lecturing, grading papers, supervising laboratory classes, etc. Students are usually paid a salary or stipend. Additional tuition waivers are sometimes included. "TA’s” are customarily offered to advanced students.
• Research Assistantships -- Awards are based on academic qualifications and research interests. The student assists a faculty member to conduct research and is usually paid a salary or stipend. Many assistantships include tuition waivers.
• Administrative Assistantships -- Awards are based on need and academic qualifications. They usually require 10 to 20 hours of work per week, generally in the administrative offices of the university. The work may provide a tuition waiver or a salary.
• Miscellaneous -- Aid from foundations, government agencies, private organizations, etc. The amount or type of financial assistance varies with each grant. It may or may not require students to perform a service, do research, or to work on a certain study project.

Source: Information obtained from Open Doors Report on International Educational Exchange 2005, NAFSA web site.