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10 Ways International Students Can Pay for U.S. Graduate School

By U.S. News & World Report

Save on a U.S. Graduate Degree

While it may pay off in the future, studying at a U.S. graduate school can put a strain on a student’s finances in the present.

However, some universities and outside organizations offer different types of financial support to international graduate students.

Not all of the resources and strategies mentioned in this slideshow will cover the entire cost of grad school, but they’ll each pay for at least some of a student’s education-related expenses.

Scholarships

Some schools and private organizations offer scholarships for international students.

Good places to begin a scholarship search include a university’s financial aid office website as well as specific academic department websites. There are also scholarship databases maintained by EducationUSA and the Institute of International Education.

Prospective students should never have to pay to search for or apply to scholarships. “If a scholarship search engine or application asks you for a credit card or other financial information before you can use it, stay away,” says one expert.

Fellowships

A fellowship is a monetary award that sometimes comes with a teaching or research requirement. Fellowships are given to students pursuing training in a particular field, usually at the graduate level, and are almost always merit based.

Fellowships typically cover tuition and often include an allowance for living expenses called a stipend.

Some U.S. universities offer fellowships, as do outside organizations. The website of the California Institute of Technology‘s Graduate Studies Office has a list of fellowships for international students offered by outside groups.

Assistantships

Graduate students can assist university faculty with teaching or research part time in exchange for financial support. Assistantships usually cover at least part of the cost of tuition and might include a stipend as well.

One way for prospective international students to learn about assistantship opportunities at a university is to reach out to the academic department that interests them.

Other Types of On-Campus Employment

International graduate students can look into getting a job on campus, such as tutoring undergraduates.

Students who hold F-1 visas can work up to 20 hours per week on campus while they’re taking classes and full time during breaks.

Prospective students shouldn’t expect to cover their tuition costs through part-time, on-campus work, says David Sheridan, director of financial aid at Columbia University’s School of International and Public Affairs. It’s better to think of this amount of income as “pocket money” for miscellaneous expenses, he says.

Home-Country Assistance

International students can research funding offered by the government or other organizations in their home country. However, students should note that funding from these sources might come with certain conditions, such as a requirement to return home after they complete their studies.

In 2015-2016, a foreign government or university was the primary source of funding for 5 percent of international graduate students in the U.S., according to a 2016 report.

Private Loans

Loans must be paid back, usually with interest. This is why students should explore all other types of aid before turning to loans, experts say.

There are some companies in the U.S. that will loan money to prospective or current international students. Many lenders, but not all, require international student borrowers to have a co-signer who is a U.S. citizen or permanent resident. A co-signer agrees to repay the debt if the borrower doesn’t.

Crowdfunding

Some students have been able to cover tuition and other education-related costs with small donations from many different people collected via crowdfunding websites, such as GoFundMe. However, promoting a crowdfunding campaign so potential donors will see it can take time and effort.

Explore tips for prospective students interested in trying to use crowdfunding to help pay for school, such as how to use social media to spread the word about a campaign.

Curricular Practical Training

Curricular practical training is full- or part-time work, such as an internship or co-op, that that is directly related to an international student’s field of study. However, students should note that not all CPT positions are paid.

Examples of the types of programs that might offer or require CPT include education, engineering and public health programs.

Parental Support

Most international students in the U.S. use their own savings or ask family members for help to pay for graduate programs. In 2015-2016, the primary source of funding for 57.6 percent of international graduate students in the U.S. was personal and family resources, according to a 2016 report.

Comparison Shopping

Saving money might be just as effective as raising it.

While graduate school is a big financial investment no matter where a student enrolls, some universities are more expensive than others.

Prospective international students can research tuition costs by exploring the U.S. News Best Graduate Schools directory and by visiting school websites.

More About Paying for Grad School

For additional information about affording graduate school in the U.S., visit the Paying for Graduate School knowledge center.

And don’t forget to follow U.S. News Education on Facebook and Twitter for more education news and tips.

More from U.S. News

Fulbright Scholarship Program One Path to U.S. Graduate Study

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10 Business Schools With the Most International Diversity

10 Ways International Students Can Pay for U.S. Graduate School originally appeared on usnews.com

Don’t Settle for Student Loans to Pay for Online Education

By WTOP Staff
Online college programs are becoming a more popular choice for prospective students, with one study finding that more than 6 million students enrolled in at least one online course in fall 2015. The popularity of these courses can be attributed in part to their flexibility with working adults' schedules, students' ability to progress more quickly through online programs and, oftentimes, cheaper tuition. [See 10 low-cost online bachelor's programs for out-of-state students.]Online degrees can be beneficial to many college students, but some studies have shown online learners complete their programs at lower rates than students at traditional brick-and-mortar campuses. Individuals with student loans but no degree comprise two-thirds of defaulted borrowers. Though these numbers are not encouraging, just like for traditional programs, there are ways to reduce how much you'll need to borrow for an online program to ensure you won't become one of these statistics. Don't just settle on borrowing student loans to cover the whole cost of your program and living expenses. Instead, start thinking about how to cut costs and cover your balance in different ways, such as the following. -- Grants and scholarships: Even though you are taking an online course, you can still apply and receive grants and scholarships. But your first step should be to complete the Free Application for Federal Student Aid, commonly referred to as the FAFSA, which will allow you to receive a Pell Grant if your expected family contribution is low enough. The EFC criteria and award amounts are adjusted annually, but the 2017-2018 academic year awards range from $606 to $5,920, which could significantly lower the amount you borrow annually. Your next step is to apply for scholarships. You can start by checking online scholarship search engines, such as the Salt Scholarship Search, College Board's BigFuture and Peterson's. But don't forget to take advantage of local organizations and your school's financial aid office. Both may offer scholarships that you can't find with a national scholarship search. [Review these 10 sites to kick off your scholarship search.]For instance, organizations like the Elks Club, Knights of Columbus or the Rotary Club typically offer scholarships annually to local students. Just because you're going to school online doesn't mean you're ineligible. Visit your local library for scholarship listings, and ask around town. You might be surprised how many local organizations offer scholarships. While these scholarships typically aren't large, every little bit counts. Each dollar you receive in a scholarship is a dollar you don't have to borrow and pay interest on. -- Work-study: Another option for online students may be work-study awards. Not all students enrolled in online programs are eligible, but students at some schools -- including, for example, SUNY Empire State College and Liberty University -- are. Work-study awards are not given upfront like scholarships and grants. In most cases, they are an offer to earn up to the awarded amount if you secure an eligible work-study job. While there is a misconception that all work-study jobs must be on campus, students can work for off-campus, nonprofit or public employers as long as the work is in the public's interest. You may be able to work for a for-profit employer if the job is relevant to your course of study. No matter who the outside employer is, it will need to have an established agreement with your college for you to receive work-study funds. Remember, to be eligible for federal financial aid, you must be enrolled and pursuing a degree or certificate. If you're not working toward a credential, Pell Grants and work-study won't be option, but you may still be able to take advantage of private scholarships -- just be sure to read the eligibility criteria carefully. [Explore what to know about financial aid in online programs.]-- Pay as you go: One of the great benefits to enrolling online is the flexible schedule, which can allow you to complete your college coursework around your responsibilities. But prospective students often overlook using their part- or full-time job earnings as an option for paying for college. Almost 80 percent of college students in 2015 worked at least part time while attending classes, according to the National Center for Education Statistics. By budgeting and thinking strategically about your college costs, you can likely reduce your dependence on student loans by paying a portion out of pocket. Many -- but not all -- online programs are less expensive than traditional programs and often have shorter payment periods. Six, eight or 10 weeks are common course durations. Because of the frequency of payments in an online setting, you may be well-placed to pay as you go and possibly avoid borrowing altogether. Attending college online and avoiding student loans may be challenging, but if you are willing to put in the effort, you can limit the amount you need to borrow. More from U.S. News Q&A: Understanding Student Loan Discharge Eligibility Student Loan Refinancing Isn't Right for All Borrowers
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