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.

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!

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.

“Although the tuitions will be raised in universities and colleges in the United Kingdom, it will not affect the international students,” O’Nions told Xinhuanet on the sideline of the Global Summit of University Presidents 2011 (GSUP) held in Tsinghua University.

Read the rest of the story in the People’s Daily Online:

http://english.peopledaily.com.cn/

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Hult offers a very popular one-year MBA program, which allows you to study at up to three of their five worldwide locations. Finishing in one year instead of two, as required by most MBAs, can be a very efficient way to improve your career opportunities faster, saving you money on the way.

Hult also offers scholarships to deserving, accomplished students.  See Hult’s profile page on International Scholarships to see more about their scholarship offer for students from Africa:

http://www.internationalscholarships.com/

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Scholarships available to international students include the Presidential Scholarship and the Provost Scholarship:

Presidential Scholarship (Full tuition waiver for four years): To be considered for the Presidential Scholarship, an international student must be in the top 10 percent of their high school class with SAT scores of at least 1300 in Critical Reading and Mathematics.    For more information, visit:  http://www.InternationalScholarships.com/Ramapo Presidential

Provost Scholarship ($10,000 per year for four years):  To be considered for the Provost Scholarship, an international student must be in the top 10 percent of their high school class with SAT scores of at least 1230 in Critical Reading and Mathematics.  For more information, visit:  http://www.InternationalScholarships.com/Ramapo Provost

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“The down economy, cuts to the university’s budget and fee increases have affected students on many levels. Job-seeking international students have not been immune.

Last summer, the state reduced the 2009-2010 California State University budget by $571 million. Cal State Long Beach’s share of the cut was $44 million. Faculty and staff
furloughs were implemented, about 1,000 classes were cancelled, and tuition jumped by 30 percent from the 2008-2009 price. Nonresident student fees also increased.

“When you have an economic situation where money is really tight, you’re going to see a reduction in opportunities for everyone,” Inemesit Williams, study abroad adviser for the
Center for International Education (CIE), said. “On top of that, when at the same time you have in increase in fees, students are going to scramble to find ways to cover these new
costs.”

Last fall, there were 1,236 international students on campus. That is about 3.5 percent of the nearly 35,000-student population. They come from more than 40 countries from Australia, to Brazil and Zambia, with more than half from East or Southeast Asia. International students have either an F-1 student visa or a J-1 Exchange Visitor visa.  Under U.S. law, these visas allow them to work on campus, or off campus in a field related to their studies for a set time during school and after graduation.

Those who aspire to work for several years need a company to sponsor their application for an H-1B Temporary Worker visa. As the U.S. Department of Labor defines it: “The H-1B
program allows an employer to temporarily employ a foreign worker in the U.S. on a nonimmigrant basis in a specialty occupation or as a fashion model of distinguished merit and ability.”

The spike in unemployment over the past year and a half in Southern California has  increased the stakes for international students who want to land a long-term job. The
seasonally adjusted unemployment rate for Los Angeles County was 12.4 percent in March, up from 7.9 percent in August 2008.

The Career Development Center (CDC) on campus has hosted workshops targeting international students. These include seminars on finding an internship and writing an American-style résumé. CDC Counselor Wayne Tokunaga stressed the importance of doing all one can to be marketable.

“If your experience is the exact same as a U.S. citizen’s, they don’t have to sponsor a U.S. citizen for H1B,” Tokunaga said. “They’ll just go with a U.S. citizen because it’s
easier.”

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Instead of requiring a student to navigate through the site to the appropriate loan product, now students can use the simple form to quickly find out if they are eligible to apply for a loan, and if so, what loan is appropriate. The new system will also allow International Student Loan to work more easily with multiple lenders, making sure that they can keep up with the rapidly changing market and deliver the best loan products to students.

The new site also has a cool new look – wider, with more images and a more current look. The content has been updated and added to, so students can get the information they need quickly.

For international students studying in the USA, and for US students studying overseas, the financing options are more limited than for domestic study.  Through International Student Loan, students can apply for up to the total cost of education, minus any other aid received.  A US co-signer is required for all international students and most US students.

Check out the new site: http://www.InternationalStudentLoan.com

About InternationalStudentLoan.com: InternationalStudentLoan.com is owned and operated by Envisage International Corporation and headquartered in Neptune Beach, Florida. As a NAFSA Global Partner and with an A+ Reliability Rating from the Better Business Bureau, InternationalStudentLoan.com has been helping students from all over the world achieve their goals of international education since 1998, and has become the leading destination for international education financing.

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Unlike searching for yourself through Google and other search sites, the Concierge service is designed to help you – by providing your details to schools who are interested in and looking to build their international student numbers.

The service is totally free, and is a great way to find information about schools – so submit your details today!

http://www.internationalstudent.com/concierge/

Today, US News released their new rankings. Harvard and Stanford tied for number one overall among US business schools, while Thunderbird Global School of Management took top honors in the International speicalty among US business schools. MIT was tops for engineering graduate schools; Yale for law school; Harvard for medical school – research, and the University of Washington (Seattle) for medical school – primary care.

For national undergraduate university rankings, Harvard and Princeton tied for top honors.

Many of the top names will be familiar to international students; however, there are many other categories of rankings that showcase excellent schools that may not be so well known around the world. For instance, Bowdoin College and Pomona College are tied for 6th in the Liberal Arts category – excellent, well-respected schools in the US, but not as well known internationally; and St. Mary’s College of Maryland and New College of Florida are ranked 4th and 5th among public liberal arts schools.

To see all of the rankings and data, visit www.USNews.com/rankings.

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