Applying for International Scholarships

Posted on January 23, 2012 
Filed Under International Education, International Scholarships | Leave a Comment

If you are an international student planning to come to the US, you may be interested in applying for international scholarships. While you’ll need to fill out the application and meet the requirements for your scholarship, if awarded you’ll receive a payment to support your education. Scholarships can be awarded for academic or other achievement – and there are many available so make the most of it!

We’ve put together a list of tips to help you when applying for international scholarships:

- Deadlines. When it comes to financial aid in general, timing is everything. Make sure that you know what is due, and more importantly when. Many scholarships have limited funding and are competitive with many applicants. Make sure to keep track of when you’ll need to submit the necessary documents to increase the chances of receiving a scholarships. If you use a calendar, make sure to note deadlines and set reminders to keep you on track.

- Essays. Many scholarships require applicants to write essays. You may find yourself writing, reading, and then re-reading your essay. Many students at the end of the process will end up reading what they thought they wrote – instead of what they actually wrote – and will miss small typos or key words. Have friends, teachers, and family members read over your essay and make any changes. Proofreading your essays can increase your odds of being awarded a scholarship.

- Don’t waste time. Many scholarships have eligibility requirements – before applying make sure you read all the fine print. There are many scholarships out there that you can apply for, but spending time applying to scholarships that you are not eligible for is a sure loss of time. We all know that international students are busy, between wrapping up school, working, and the many other day-to-day tasks. Spend your time wisely by reading the details carefully.

- Best foot forward. While content is #1, there is something to be said for presentation. Make sure that your documents are well organized and presented neatly. If you need to handwrite documents, be sure to spend the extra few minutes to make it clear and legible.

- Application. Not all fields on an application will apply to you. Don’t leave any ambiguity as to whether you forgot to fill it in. Make sure that you fill out every field, if it doesn’t apply to you just indicate “N/A” (or, not applicable).

- Create a timeline. Applying for international scholarships can require many steps, including essays, applications, references, transcripts, and much more! Don’t leave it to the last minute. Create a calendar that divides up the tasks to make sure there is enough time to get everything done.

- Make copies. Before submitting the information, make sure you keep copies on hand. It’s always a good idea to be able to refer back to it for other scholarships or to resubmit it in case it gets lost in transit. No need to do the same work twice if you’ve already done a good job the first time. Make it count, and make the most of your time!

- Last glance. Finally, before you submit your work to the organization make sure you go over all the requirements and dates. If you have additional time, have another trusted person take a look at it as well to make sure that you meet all of the requirements.

Good luck applying for international scholarships! Let us know if you have any additional scholarships tips that you’ve found.

Increase Demand for US MBA Programs

Posted on January 16, 2012 
Filed Under International Education, Study in the USA | Leave a Comment

The economic downturn is evident worldwide. Even with signs of growth in many countries, the employment figures are lagging behind. Those individuals who have the ability will seek higher education as a way to build skills for the competitive job market.

One way people are doing this is by enrolling at a MBA program in the US. Many students and professionals see education in the US as one way to build connections, increase one’s skills, and develop a worldwide prospective. According to a recent report by Council of Graduate Schools, the increase demand for US MBA Programs jumped 6% over last year. Bloomberg BusinessWeek reported that 33.4% of MBA programs are made up of international students. The primary reason for this increase was due to the number of Chinese applicants, followed by Taiwanese and Vietnamese.

The increase demand for US MBA programs has been helped by the increase in F-1 international student visas issued in the US. An increase of 54,000 visas were issued last year, totaling 385,210 visas. This increase in visas has been directly attributed with increasing the number of foreign students enrolling in MBA programs in the US.

This comes as good news to MBA programs in the US, who are competing with other higher education institutions from around the world. Because of the expense and difficulty of going to a US institution, many international students have been opting for schools in Canada or the United Kingdom. With the help of the Department of State, there has been a shift back to America where this year has been the largest increase in demand for US MBA Programs since 2007.

Cornell saw a 12% increase in their international enrollments in New York. On the western coast, University of Southern California saw that 75% of their one-year international MBA program was from Asia. This is just two of the many graduate programs seeing an increase in their international student numbers.

As economies recover, recruiting efforts expand, and the need for a business degree becomes ever more important, it is likely that this is the beginning of a trend for MBA programs in the US as long as the US State Department continues it’s visa policies for international students.

Loans for Spring Semester

Posted on January 10, 2012 
Filed Under International Student Loans | Leave a Comment

It’s that time of year again! Many of you have enjoyed your winter vacation filled with holiday cheer and New Year celebrations. As you head back for Spring semester, you may realize that your holiday money did not exactly match the tab for your education. If this is your case, you may consider loans for Spring semester.

International Student Loan matches students will loans for their upcoming academic school semester. If you are an international, study abroad, or foreign enrolled student, you are not too late to apply for loans for Spring semester. To do this, you can simply compare your loan options, and apply right online.

You can apply for up to the total cost of education, as determined by your school, minus any other aid received. After you apply and receive credit approval for you and your co-signer, your school must certify the amount of the loan. The proceeds are then disbursed directly to the school. Most US students and all international students must have a US co-signer thatis a US citizen or permanent resident with good credit and income history and who has lived in the US for the past two years.

Check the eligible school list to see if your school has been approved so that you can start applying for loans for Spring semester!

Study Abroad Scholarships for High School Students

Posted on January 3, 2012 
Filed Under International Scholarships | Leave a Comment

Kennedy-Lugar Youth Exchange and Study (YES) Abroad Program
Scholarship Deadline: January 11, 2012

Kennedy-Lugar Youth Exchange and Study (YES) Abroad program is offering 55 scholarships to US high school students interested in studying abroad in Bosnia and Herzegovina, Egypt, Ghana, India, Indonesia, Malaysia, Morocco, Oman, Thailand and Turkey.

Funded by the U.S. Department of State, the Study (YES) Abroad program gives high school students (ages 15-17) the opportunity to study in selected countries. Bringing US citizens overseas, as well as non-US students to the US, this exchange was started back in 2002, “as a key component of renewed commitment to building bridges between citizens of the U.S. and countries around the world, particularly those with significant Muslim populations.”

These are full merit-based scholarships covering program costs, travel, tuition, room and board, food, and much more! These full scholarships will cover students planning to study overseas for a year, thanks to the U.S. Department of State’s Bureau of Educational and Cultural Affairs.

To be eligible for a scholarship, applicants must be U.S. Citizens, high school students at the time of application, and 15-18 years of age. The deadline for applying is January 11, 2012.

International Student Loan Comparison Tool

Posted on December 27, 2011 
Filed Under International Education, International Financial Aid News, International Student Loans | 2 Comments

As more students decide to study overseas, financial aid plays a critical role for many students looking to make this a reality. Financial aid comes in many forms, including scholarships, grants, and loans. For many international students, even with the assistance of scholarships and grants, there is still a need to secure additional financing by taking out a loan.

Many international students have had difficulty finding lenders that will loan to international students. Some lenders require students to be a US citizen or permanent resident and all lenders work with specific school (and these lists of approved schools vary by lender). Because of this, many international students have to read through the terms and conditions or complete the application to see whether they meet the eligibility requirements for each lender.

This has all changed thanks to International Student Loan’s new loan comparison tool. This loan comparison tool takes all of this information into consideration to match international students with the right loan options instantly. International students simply indicate their school, citizenship, and whether they have a cosigner, and they will be given a list of lenders to compare that have been matched based on their eligibility. Once international students have chosen their loan, they can proceed to the application and apply for the loan directly.

International Student Loan’s Comparison Tool is making financial aid easier for students to study overseas, saving  time and providing students with option to make studying abroad a possibility. For any questions on how this works, you can contact representatives at International Student Loan.

What is the net price calculator?

Posted on December 22, 2011 
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Did you ever want to know what the total cost of your education would be as an international student studying in the US? Are you trying to budget properly so that you make smart financial decisions? Curious about the price difference between schools? Now, the US Department of Education is making it easier for you to determine the cost of your education. It’s called, the Net Price Calculator.

So you may be asking yourself, what is the net price calculator? Thanks to the Higher Education Opportunity Act of 2008, the Net Price Calculator was introduced to increase the transparency of how much a student must pay or borrow to enroll. Previously, the cost of education was not all that clear. Adding up all of the costs, like books and living expenses, was difficult to measure.

That’s where the net price calculator comes in. By entering in your personal information, like income, residency, assets, among other details, you can determine approximately what the cost will be to enroll. Tuition and fees, room and board, books and personal expenses, as well as scholarships and grants, are all clearly laid out for you to evaluate on many college and university websites.

Keep in mind, however, that tool has been designed for US students attending US schools so there may be variations in the prices for international students. At the same time, many schools have taken the tool one step further and have adjusted rates for international students. The net price calculator was formally implemented across the United States on October 29, 2011.

While some people are asking what is the net price calculator, others are looking for ways to improve it. Currently, the tool only provides the annual cost so don’t be fooled. If you are going for a four year degree, make sure to multiply the number by 4.

So, if you are an international student, make sure you know what is the net price calculator – and even more importantly, how to use it!

Funding for International Students

Posted on December 12, 2011 
Filed Under International Education, International Financial Aid News, International Scholarships, International Student Loans | 6 Comments

Funding for international students is a critical factor for any student looking to receive a degree or certification overseas. Think about it. Housing, food, tuition, and books are just a few of the necessary expenses students will need to consider when they budget for their education.

One way students reduce their costs is by applying for scholarships and grants. While many students hope for a full scholarship supported by their college or university, this can be a challenge. In fact, only 23% of international students in the US cover the majority of their expenses with assistance from their college or university. This is the largest external source of funding for international students (excluding self and family funding) – see the graph below that reflects funding for foreign students in the US.

The Institute of International Education publishes an annual report monitoring data on international students in the US called the Open Doors Report. This publication, released last month, confirmed that funding remained consistent over last year with relatively minor fluctuations. What does this means? In the 2010-2011 academic year 63% percent of international students primary funding for international students was by personal and family funds.

Here are some important tips for students looking to budget responsibly:

1. Know the cost of your education.

The initial budgeting stage for your education overseas is to know what expenses you can expect. You should be aware of costs that include your tuition, books, living expenses, etc. The Net Price Calculator can be a useful addition to develop an accurate budget.

Since October 29, 2011, in compliance with the Higher Education Opportunity Act of 2008, those colleges and universities who participate in Title IV federal student aid programs are required to estimate the cost of attendance for current and prospective students seeking a degree and/or certificate. The idea of the Net Price Calculator is to provide students with transparency on the cost of their education as well as any grants/scholarship awards they typically distribute to students. This tool will outline tuition and associated fees, books and supplies, room and board, personal expenses, transportation, grant aid, etc. Keep in mind that the tool was developed for US students so results may vary for international students, however this can be a good start!

2. Apply for scholarships and grants.

It is important for international students to apply for scholarships and grants to reduce their personal expenses. Be aware of programs, dates, and eligibility requirements, and add them to your calendar to stay on top of those awards that are distributed by your school. Funding for international students can also be found through your home country as well as non-profit organizations or third parties. You can use resources like International Education Financial Aid (IEFA) and International Scholarships to begin researching your overseas funding.

3. For additional financial assistance, you may need to apply for an international student loan.

Once you have maximized your scholarships and grants, you may consider looking for a loan for international students. If you have a US co-signer, you may be eligible for a US-backed loan that can help you support your education overseas. Be sure to read through the terms and conditions before you apply.

Student loans can assist you in supporting the many costs that you may incur as an international student. Keep in mind, however, that this aid is expected to be paid back along with interest. While funding for international students can vary, this may be a helpful alternative for students looking for financial assistance from a US bank.

Data for graph was extracted from the Open Doors Report as noted above.

Number of International Students in US Grows

Posted on December 6, 2011 
Filed Under International Education, Study Abroad, Study in the USA | 2 Comments

The annual Open Doors Report, published on November 14 by the Institute of International Education, shows that the number of international students studying in the USA for the 2010/2011 academic year increased by 5%, to a total of 723,277.  This follows an increase of 3% last year, and continues the upward trend that started in 2005/2006, when enrollment numbers started to rebound after post-9/11 setbacks.

Countries of Origin

A big story this year, like last year, is Chinese student enrollment.  The number of Chinese undergraduates studying in the US increased by 43%, and overall Chinese enrollment increased by 23% to 157,558, ensuring that China was the largest sending country again this year.  Saudi Arabia also had a large percentage increase of 44%. Here are the top ten countries of origin for international students in the USA:

Rank Place of Origin 2009/10 2010/11 2010/11 % of Total % Change
WORLD TOTAL 690,923 723,277 100.0 4.7
1 China 127,822 157,558 21.8 23.3
2 India 104,897 103,895 14.4 -1.0
3 South Korea 72,153 73,351 10.1 1.7
4 Canada 28,145 27,546 3.8 -2.1
5 Taiwan 26,685 24,818 3.4 -7.0
6 Saudi Arabia 15,810 22,704 3.1 43.6
7 Japan 24,842 21,290 2.9 -14.3
8 Vietnam 13,112 14,888 2.1 13.5
9 Mexico 13,256 13,713 1.9 2.0
10 Turkey 12,397 12,184 1.7 -1.7

Taken together, the top 3 countries sending students to the US (China, India and South Korea) account for almost half of all international students in the US.

Leading Host Institutions and Fields of Study

The University of Southern California maintained its top spot as the US school hosting the most international students with a total of 8,615.  Here are the ten schools in the United States, by total international student enrollment:

TOP 10 INSTITUTIONS HOSTING INTERNATIONAL STUDENTS, 2010/11
Rank Institution City State Total Int’l Students
1 University of Southern California Los Angeles CA 8,615
2 University of Illinois – UC Champaign IL 7,991
3 New York University New York NY 7,988
4 Purdue University – Main Campus West Lafayette IN 7,562
5 Columbia University New York NY 7,297
6 University of California – Los Angeles Los Angeles CA 6,249
7 Ohio State University – Main Campus Columbus OH 6,082
8 University of Michigan – Ann Arbor Ann Arbor MI 5,995
9 Michigan State University East Lansing MI 5,748
10 Harvard University Cambridge MA 5,594

International students have been consistent in the fields of study that they choose, as the top five have not changed.   Business and Management and Engineering are by far the most popular two choices for international students at US schools, followed by Physical and Life Sciences, Math and Computer Science, and Social Sciences to round out the top five.

US Students Abroad

Not only are the numbers for international students growing, but so are the numbers of US students going overseas. According to the Open Doors Report, the number of US students studying abroad increased almost 4% to 270,604. Consistent with previous year records, the most popular destinations for US study abroad students included the United Kingdom, Italy, Spain, France and China as reflected below:

Rank Destinations 2008/09 2009/10 2009/10 % of Total % Change
WORLD TOTAL 260,327 270,604 100.0 3.9
1 United Kingdom 31,342 32,683 12.1 4.3
2 Italy 27,362 27,940 10.3 2.1
3 Spain 24,169 25,411 9.4 5.1
4 France 16,910 17,161 6.3 1.5
5 China 13,674 13,910 5.1 1.7
6 Australia 11,140 9,962 3.7 -10.6
7 Germany 8,330 8,551 3.2 2.7
8 Mexico 7,320 7,157 2.6 -2.2
9 Ireland 6,858 6,798 2.5 -0.9
10 Costa Rica 6,363 6,262 2.3 -1.6

Interestingly, while there are more students studying overseas they are going to non-traditional destinations. There was an eight percent increase for each of the following destinations: Africa, Asia and the Middle East.

For more information, please visit the 2011 Open Doors Report published by the Institute for International Education.

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Study USA – Creating a Budget

Posted on June 22, 2011 
Filed Under International Education, Study in the USA | Leave a Comment

One of the most important parts of international education is figuring our what you can afford.  Can you attend that high-priced private school in an expensive city?  Or is a more affordable option required?  You can get basically the same education in an area with a lower cost of living, or attend a state school or community college.  You can work, get loans and apply for scholarships.  But until you know how much money you will need, its hard to figure out how you’re going to get it.

Creating an overall budget is a critical part of affording your study overseas.  Truly, there are options for people regardless of what your overall budget is, but you have to know the budget to know your options.  The Study USA section of InternationalStudent.com has a good article on creating a budget.  Also review these earlier posts on this blog on Estimated vs. Actual School Budget and Evaluating School Program costs .

With a little effort, you can have a much better handle on where your money will be going, and what schools and programs you can afford.

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Interest Rates Still Low on International Student Loans

Posted on June 14, 2011 
Filed Under International Education, International Student Loans, Study in the USA | 2 Comments

One positive by-product of a relatively weak ecomony is the continuing low interest rates for international student loans for study in the USA. Interest rates for loan programs offered by International Student Loan range from 2.25% APR to 9.11% APR with no origination fees. When you consider that there is no collateral required for a student loan, unlike a home or car loan, it is impressive that student loan programs can operate at such rates. Since student loans are often based on LIBOR, a low LIBOR is certainly helping the situation.

Lenders offered through the loan center on InternationalStudent.com also offer excellent rates, and you can compare and contrast them.  A quick search today showed current APRs beginning at 3.16%.

Private student loans are available for international students studying at approved schools in the United States.  All international students need a US co-signer.  The interest rate for each student is set by the loan underwriter based largely on the credit score and income history of the US co-signer, so a stronger co-signer can mean a lower rate. You can apply for up to the total cost of education, minus other aid received.

Check both options to figure out which works best for you and your school:

http://www.internationalstudentloan.com

http://www.internationalstudent.com/loans/

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