Funding US Study
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USA |
UK |
|---|---|---|
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Tuition |
$21,706 (£14,200) per year – out-of-state $29,056 (£19,008) per year – private four year institutions (average) |
£9,000 ($13,750) |
|
Living Costs (books, room, board, travel, etc for an academic year) |
$15,500 (£10,000) (average) |
LSE: £10,000 ($15,285)
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Sport scholarships aside, there are other alternative options available to international students looking for ways to fund their studies in the USA.
- Over 900 US universities offered international students’ scholarship awards of over $10,000 per year.
- Of these 900, 195 offered scholarships of $20K-$30K per year, 80 offered $30K-$40K, 105 offered $40K+ and 183 offered a “full ride”.
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About 10% of international undergraduate students report a university scholarship as their PRIMARY source of funding
Steps for Funding US Study:
Funding options include: Personal/family savings, scholarships from US universities, scholarships from external funding bodies and loans from a US or UK lender.
- Assess your personal/family savings to determine your financial need.
- Investigate university funding. Applying for funding often happens simultaneous to the admissions process. US universities award funding on the basis of financial need (often called grants) and/or merit (scholarships), as well as sports scholarships.
- Choose your US universities carefully, as some may have significant financial aid, scholarships or even be located in areas with lower costs of living.
- Scholarships – Many scholarships from external funding bodies can be thought of as niche scholarships, as they may be awarded based on very specific personal qualities outlined by the funding body. Enjoy doing volunteer work on the weekend, have a diverse background or participate in community theatre? Well there may be an organisation or university that is willing to reward you for who you are and what you like to do. Scholarships from external funding bodies may also be awarded on the basis of merit.
- Loans – the availability of US-based loans for non-US citizens is limited. In almost all cases, US-based loan programmes require non-US citizens to have a creditworthy US citizen or permanent resident to act as a co-signer. However, UK citizens may apply for a personal loan from a UK bank and apply it toward US study. Please note, US citizens can apply for US government loans via the FAFSA website and may be eligible for loans from a private lender based in the US.
Funding Tips:
- Start your scholarship search early, and be willing to put in extra time and effort to seek out and apply for scholarships.
- Apply to multiple sources of funding (including university and external funding bodies).
- Keep in mind if you are not a US citizen, you will need to demonstrate access to funding for the first year of study in order to apply for a visa.