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FINANCING
YOUR EDUCATION IN THE USA
It
is essential to plan your entire U.S. education-including how to
finance it, before you leave your home country. Some colleges, universities,
and U.S. consulates require foreign students to provide certification
of funding for the entire planned period of study even though the
I-20 form requires proof of funding for the first year only.
Therefore
you should begin research as early as possible. Some scholarships
and grants are available only to students applying from their
home country. You might also investigate all possible home-country
sources of funding. Tuition is only one of many expenses you
should expect when studying in the United States. Other expenses
may include the following:
- Application
fees;
- Standardized
test fees;
- Travel expenses;
- Living costs
(including room and meals);
- Books and
supplies;
- Health insurance;
and
- Incidental
expenses
You may need
to combine several sources of funding to finance your education
in the United States fully. The USIA pamphlet "If You Want
to Study in the United States-Graduate Study" provides information
on evaluating your ability to finance U.S. study, including explanations
of the various costs associated with U.S. study for international
students and a financial worksheet to help you plan your expenses
realistically.
Graduate
students should begin the application process 18 months before the
intended date of study. Ideally, you should begin to plan and research
financial assistance at the same time as-but certainly no later
than one year before-the school year begins. Use the steps below
as a guideline for applying for financial assistance:
- Identify
and target possible resources;
- Request information;
- Organize
and complete application requests; and
- Return completed
financial assistance applications well ahead of the final deadline
date indicated on forms (these dates may be much earlier than
regular application deadlines-as early as 8-9 months before classes
begin).
Remember, competition
for grants is keen in the United States; an incomplete, tardy, poorly
written, or messy application could cause your application to be
rejected. Plan ahead, prepare carefully, and follow instructions!
Take the time to prepare a qualified request for financial assistance
and send your complete application-including application fee, transcripts,
standardized test results, letters of recommendation, and essays
well ahead of the deadline.
For
more information on funding your education in the USA or any other
aspect of studying in the USA contact NAFSA www.nafsa.org
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