Hello and welcome to a short webinar hosted by the Commission for Educational Exchange
between the United States, Belgium and Luxembourg.
In addition to administering the Fulbright Programs for Belgium, Luxembourg and the European
Union, the Commission for Educational Exchange also offers educational advising for students
in Belgium who are thinking about studying in the United States.
EducationUSA makes applying to a U.S. college or university clear by identifying your five
steps to U.S. Study.
In today’s video, we’ll talk about financing your studies in the United States.
When calculating how much it will cost you to attend a U.S. university, it’s important
to consider both tuition and fees and the cost of living.
Tuition refers to the cost of instruction … and fees to the costs associated with
services like the library or health center.
International students are required to pay both tuition and fees.
Tuition and fees vary greatly from school to school.
Note, for example, that private universities – which do not receive state funding – often
charge higher tuition fees.
Remember that there is no correlation between the level of tuition and fees and the quality
of an institution.
In addition to tuition and fees, students must estimate the living expenses associated
with attending a particular university.
Living expenses include transportation, books, health insurance, and – of course – cost
of living!
Keep in mind that some areas of the country, like California and the Northeast, are traditionally
associated with higher costs of living.
University websites are a good source of information about estimated living costs, and will give
you an idea of what it might cost to be a student in a particular area.
There are many different ways to finance your studies in the United States.
These include scholarships (which are based on merit and typically awarded to very competitive
students based on, for example, outstanding academic performance or talent in sports)
… financial aid (based on demonstrated financial need) … loans (which must be paid back after
graduation) … and student employment.
Students should keep in mind that the vast majority of undergraduate international students
rely on their own personal and family income as their primary source of funding.
Financial assistance for international students may come from home country funds, organized
for example by local government or private foundations, or from a U.S. university.
We’ll talk more about funding from colleges in just a moment.
Since foreign students are usually in competition with U.S. students for financial aid funds,
international students should carefully explore all opportunities for funding in their own
country.
Before talking about institutional aid, I’d like to quickly address the question of student
employment.
Current immigration regulations permit international students in F-1 or J-1 student status to work
on campus up to 20 hours per week when school is in session, and full-time during vacation
periods.
While this is a good way to earn money to pay for incidental expenses, like books and
school supplies or late-night snacks at the library, it cannot be relied upon to cover
your tuition costs.
When people talk about scholarships and financial aid, they are often referring to institutional
aid – that is, aid offered by a student’s university or college.
Institutional aid may be need-based or merit based and typically is comprised of a combination
of scholarships and grants (which do not need to be repaid), loans (which need to be repaid),
or even on-campus jobs.
Financial aid is rare at public colleges and at colleges that offer professional courses
like engineering, business administration, and health professions.
More financial aid may be available from private colleges … but as we’ve already discovered,
these schools may have a higher price tag to begin with!
It is particularly difficult to get a so-called ‘full scholarship’ to cover all the costs
of education, and these are reserved for truly exceptional international applicants.
Most institutions will take a student’s financial situation into account, calculating
how much the student and his or her family can afford to contribute and then offering
financial aid to help meet the calculated ‘financial need’.
Keep in mind that only a handful of wealthy colleges in the United States are able to
meet the financial need of all the students they admit, and admission to these schools
is very competitive.
When financing your studies, do not forget to calculate the cost.
All American universities and colleges are mandated to have a cost calculator on their
website, which you can use to estimate the total cost of attending the university.
It is also important to start early.
Scholarship and financial aid deadlines vary and may be earlier than you think!
Do not wait until you have received an offer of admission to figure out how to pay for
your degree.
Know what makes you special.
So-called niche scholarships are awarded to students based on specific criteria or talents.
They might be based on your academic performance, your intended major, or even your personal
background.
Identify and benefit from the factors that make you unique!
Lastly, be honest.
When allocating financial aid, universities try to fully understand a students financial
situation.
When filling out financial information during the application process, it is therefore important
to provide information that is as honest and complete as possible.
Do your research by perusing college and university websites and using scholarship search engines.
Of course, you can always contact your local EducationUSA Advising Center for personalized
advice.