December is here! And before you head off for winter break, it’s important to also think about your finances. Set a few hours each day searching for awards and applying so that you’ll be in good shape in time for the new semester. Our Scholarship Search makes it easy to do, here’s how:
Create an account to allow you to search, save and apply for the awards of your choice. Totally free, all you need to do is register here.
- Search awards
Once you have registered, now you can search awards based on the name of the award, what you are studying, where you are studying, or where you are from. You will be able to narrow down the awards to those your are eligible for.
You will be able to get the information you need to apply for the scholarship. Fill out the appropriate forms and submit the information directly to the organization of your choice.
Not ready to apply? You can also bookmark the awards that you are interested in, and come back later to apply. Yes, it really is that simple!
Scholarships, grants, and fellowships are the perfect award as it is money given to you that is not required to pay back. Depending on the award, you may need to show that you need the money, or it may be based on merit.
If you still need additional help funding your education overseas, then an international student loan can cover the gap. Unlike scholarships, grants, and fellowships, loans require that you pay back the money with interest. Our Comparison Tool will allow you to select your school and citizenship, and find the available loans that will work for you.
Want more information on scholarships? Check out our scholarship blog posts.
This week is a very important week in International Higher Education as it is International Education Week – and thus the week in which the Open Doors Report 2013 is released. In this report are facts and figures that show trends and changes with international students.
As we continue to sift through the data, we were of course especially interested to see what are the Primary Sources of Funding in 2013. As it comes to many as no surprised, the overwhelming majority of international students (63%) reported that their financial support was primarily covered by their own savings or with the help of their family. As a distant second, 20.7% of students said that US colleges and universities were their primary financial support.
In reviewing this data compared to last year, however, the majority of the increase in funding is coming from the U.S. and Foreign Governments. For those of you who have their finger on the pulse of international higher education, it comes as no surprise.
Saudi Arabia had a 30 percent increase in the number of international students in the US compared to last year. This brought the grand total of Saudi students to 45,000 in the US during the 2012-2013 academic term. The bulk of these students are finding their financial support through the Saudi government scholarship program which has given many students the opportunity to get their degree in the US.
Also seeing a spike in international students to the US is Kuwait, who has a governmental scholarship program that helped contributed to the 37 percent spike of Kuwaiti students in the US. This makes the grand total of Kuwaiti students at 5,100 – boosting them up to the top 25 sending countries.
That’s not all, Brazil also saw a 20 percent increase compared to last year, where the majority of the 10,900 Brazilian students are being supported on the Brazil Scientific Mobility Program that has also given students the opportunity to pursue their undergraduate degree in the USA.
Interested in seeing the data? Check out the Open Doors Report and let us know your thoughts.
Dan Beaudry is the former head of campus recruiting at Monster.com and former associate director of corporate recruiting at the Boston University School of Management. On October 10, Beaudry presented “How International Students Can Find Employment in the US” to students at Drexel University, and shared his knowledge of the job search system which he has used to help international students.
Drawing on his own experience, Beaudry shared innovative networking ideas that are valuable for both international and American students. For many international students, the word “networking” is an intimidating term that begins following them the moment they set foot on campus, evoking images of overwhelming career fairs at which they find themselves jockeying with dozens of other students for the recruiters’ attention.
This association can prove especially daunting for international students. After all, how are international students supposed to compete with their American peers when they are often conversing in their second or third language? According to Beaudry, you may not have to.
Many international students dream of studying in the US. However, the cost of such an education is quite high, and many international students end up having to pay that full cost, as international students are not eligible for federal aid programs such as Stafford and Perkins loans or many local scholarships. Some schools in the US offer need-based aid to international students, but such aid is generally offered on a very limited basis. For this reason, many international students believe that it will be impossible for them to study in the United States.
However, international students with a dream of studying in the US shouldn’t despair; US News recently conducted a survey of nearly 1,800 colleges and universities for their 2013 survey of undergraduate programs, and found that nearly 345 ranked US colleges offered financial aid to at least 50 international undergraduate students during the 2012-2013 school year, with the average scholarship totaling $17,721. The study found that some of the top ranked schools in the United States proved to be particularly generous to international students. Read the rest of this entry »
Students who are interested in studying internationally have a lot of decisions to make before they can begin planning. The most important of these decisions is, obviously, what country to study in. A number of factors go into this decision, including area of study and any language barriers that might arise, but one extremely important factor is the issue of cost. As an international student on a budget, you must be very aware of costs such as tuition fees and living expenses in the country in which you are studying.
We will be doing a series on the most expensive places for international students to study, beginning with number one: Australia. According to a recent study by HSBC Bank which compared the combined cost of university fees and living expenses in major countries, Australia is the world’s most expensive country for international students to study. The typical annual cost for international students is $38,516 in Australia, $35,706 in the United States, $30,325 in the United Kingdom, and $26,011 in Canada—all of which are main competitors in international education. Read the rest of this entry »
As an international student in the US, chances are you have to worry more about funding your education in the US than your domestic peers do. Because international students do not qualify for federal loans and often have to pay out of state tuition at state colleges, they generally end up paying more for their education than US students.
This infographic seeks to help international students explore their options when it comes to funding their education in the US. Renata and Cristian are both international students, one at a private university, the other at a community college. Like 63% of international students, each primarily rely on personal and family support to pay for their education. However, when something comes up, they both have to find different ways to support themselves.
We hope that this infographic will prove helpful to you as you learn about your different funding options. With the right combination of financial aid, we are certain that you will be able to afford your US education.
Click the infographic above to zoom in.
Recent reports have come in this month that students are receiving incoming calls – mostly from the emergency 911 number – where either a man or woman will inform the student that they have committed a federal offense and will need to take immediate action. Some students reported that they were advised about an outstanding arrest warrant since they owe money to the US government.
The hoax tells students to pay the owed money to avoid prosecution by calling the phone number 202-470-6070. Students are informed that they need to act immediately in order to avoid further prosecution. In some reports, they threatened that the police would arrive at their front door if they did not pay immediately.
If you, or someone you know, gets a call similar to this hang up immediately and call the police. When in doubt, you can also call your local police station and school. If you are unsure, be sure to stay calm! It’s highly unlikely that any governmental agency will contact you by phone.
- Ask what the call is about.
- Request the full name of the agent and their ID number.
- Get their direct line to call them back at. Remember, any threats like this are highly unlikely!
- Call your international student advisor immediately with any information you have.
It’s important to know that you should never give out our:
- Your social security number
- Your banking information
- Your credit or debit card information
For more details, check out reports from other students here.
This week, new economic data was released by NAFSA that found 764,495 international students contributed $21.8 billion dollars to the US economy and supported approximately 300,000 jobs. In a time when the US economy is recovering from the Great Depression, it is no wonder why an importance has been placed on international education worldwide.
The study also found that for every 7 enrolled international students, 3 US jobs were created in a number of industries including in higher education, accommodations, dining, retail, health insurance, telecommunication, and transportation. This comes as good news as enrollment for international students has been increasing year after year for the last three year, with a 6.5% increase in overall international student enrollments over the 2010-2011 academic year.
The press release by NAFSA shows the economic implication of opening the doors to allow international students and scholars to study and pursue further opportunities after graduation in the United States. Currently, the US immigration system requires international students and scholars to return to their home country upon completion of their program.
While there are some opportunities available to employers to help switch their visa from an international student F1 visa (international student visa) to an H1B visa (work visa), this remains a complicated, difficult and expensive process. With limited opportunities upon graduation, many international students are looking elsewhere to pursue their higher education dreams.
In fact, according to the same report, the overall share of international students studying in the US decreased by 10%. The findings from the report says that immigration reform can further enhance the economic benefits for the United States as well as allow students looking to pursue employment post graduation.
When it comes to paying for tuition, international students must plan ahead and make sure that they do their research to keep their expenses low. Many banks – whether it’s in your home country or in your host country – will charge a wire transfer fee, which can add up especially if your money goes through intermediary banks as it makes its way to your school. Because of this, we’ve created tips for international students wiring tuition:
Find A University-Approved Wire Service
Many US colleges and universities work with a particular few wire services which are designed to help students send substantial amounts of money to the host country. These schools most often times do their research to ensure that they are legitimate and that the money is safe. Contact your bursar or accounting office to find out which companies your school works with. You will also need to find out the banking information from your school if they agree to accept direct wire transfers.
Confirm the Tuition Deadline
International students wiring tuition will need to first confirm the deadline in which the money must be fully received and paid. Depending on the school, you may be required to pay one semester’s (or in some cases, more) tuition and any on-campus room and board fees. While in theory a wire transfer should be immediate, it is not uncommon to find that there are frequent delays with the process. If the money arrives past the specified deadline, this may require you to pay additional late fees. Because of this, we recommend that you do the wire transfer weeks in advance of the deadline to ensure that you have adequate time in case of delays.
Wire Money Directly to the University or College
Many banks charge a fee to do a wire transfer, and this can be deducted from the overall money that is being wired. A $15 USD wire transfer fee by each bank can result in inadequate funds by the time the money is received by your school. Be sure to ask your country’s bank if there are any additional fees associated with the transaction. International students wiring tuition should see whether university will accept the money directly. Often times there may be no fee, or a minor fee, associated with the wire transfer. If you will be sending the money to a US bank, be sure to find out if there is a fee charged by that bank – and if there will be any intermediary banks involved who will be charging a fee as well.
These and other tips for international students wiring tuition can be found here at our IEFA.org blog. Share with us your experience of paying for tuition, what issues you faced, and how you overcame it.
Tax time in the United States is here, with the IRS’s filing deadline of April 15th quickly approaching. Taxes are confusing for anyone, but taxes for international students can add another layer of difficulty given the varying classifications that international students can fall under.
The first thing for international students to determine at tax time is whether they are filing as residents or non-residents. Taxes for international students will mostly fall under nonresident filing status, but to make sure what category you fall under you should go to the Substantial Presence Test on the IRS website. Note that residency status is different from your immigration status, and depends on a number of factors revolving around the dates, length, and nature of your stay in the U.S.
If you find that you need to file as a resident, you can proceed to complete your taxes as any U.S. resident would. Remember that this includes your total worldwide income, not just money earned in the U.S.
But as most taxes for international students are filed as nonresident status, you’ll likely find yourself moving on to the next step: determining whether you’ve had a U.S. source of income. What exactly counts as a U.S. source of income is also outlined in detail on the IRS website.
All nonresidents must file Form 8843. Those without a U.S. source of income get to stop there; nonresidents with a U.S. source of income must also fill out a 1040 NR or 1040 NR-EZ. To fill out either of these latter forms you will need either a Social Security Number (SSN) or Individual Taxpayer Identification Number (ITIN). If you do not have one, you can apply for an ITIN at the time of your filing.
Tax time is a notoriously stressful period for anyone in the United States, and international students certainly aren’t spared. Get started navigating the process as soon as you can so you have time to sort out any snags, and don’t be afraid to reach out to friends, family, or school advisors for help! Check out our partner, International Student’s Tax Return Help, for more information.
* Tax, budget and calculator photo courtesy of Shutterstock