We will all agree that education is expensive especially when you are studying in a country with some of the best schools in the world. No doubt the best investment you can give yourself is your education, but what happens when it becomes too expensive and you cannot Fund Your study in the United States of America?
Education in America is expensive more so for international students. And if you are going to study in the US, the first thing you need to think of is how to come up with the money to pay for your studies.
An average American student or other foreign students studying in the US will most likely settle for a Student loan. And considering the tight academics schedules in school, it might look like the best solution especially when the scholarships are not forthcoming. But then, is it really the best?
And there is the option of financial aid for students. The problem is, the majority of the financial aid funds are reserved for students applying for a master’s degree or higher education. And then, the financial aid funds available are often meant for citizens and residents in the US leaving non-residents to an unknown fate.
However, there are other financial aids that are also available for non- residents. They come as grants, scholarships, loans, getting a job, research, and teaching assistant program. So, in spite of the high cost of education, America records the highest number of international students enrolled each year.
Would you say that the Millions of students applying each year are able to afford education in America? The answer is no. many of the students take advantage of the financial aids mentioned later on in this article.
How Much Does It Cost to Study In the United States of America?
As an American, or a foreign student (Non-resident) you pay thousands of dollars for education in America. Although, as a non-resident, you pay more for everything from tuition down to accommodation. A non-resident in America could pay $18,000 for an in-state four-year public university including room, board, and fees. For out-of-state university, you pay almost double.
For a Resident or an American student, you pay half of what a non-resident pays. Tuition fees range from $5,000 to $50,000 (£4,074 – £40,746) per year. Most undergraduate degrees last four years, so, on average, students are graduating with $132,860 (£101,505) worth of debt. And then you have to take into consideration, the accommodation, your lifestyle, bills, and other household expenses.
The financial aid provided for students in the US comes in the form of scholarships, grants, loans, assistantship, and student jobs. However, we initially stated all these schemes and financial aid will more available to citizens or residents in the US. The foreign students benefit most from scholarships, assistantships, and work-study schemes.
There are a lot of scholarships for international students and even some for American students studying in the US. For example, The Gates Cambridge Scholarships for International Students and the MasterCard Foundation Scholarship For International Students.
Many of the Scholarships programs for students studying in the US are government scholarship programs for international students. Some are provided by institutions and different universities in the US, and few others are provided by school Alumni or other private organizations in the US. The point is that there are lots of opportunities for residents, non-residents, foreigners, and American students to finance and fund their studies in the US with the financial aids available.