Guide to Financial Aid for International Students - Ivy Scholars (2024)

• Sasha Chada
• October 7, 2022

International students face many challenges when applying to American colleges, but one of the ones we hear about often is the challenge of paying for college. We have discussed financial aid before, but only in the context of US citizens and residents. We have also written a guide to admissions for international students, but this covers more practical questions of how to apply, without delving into finances deeply.

In this article, then, we’ll explore what the options are for financing college for international students. First we’ll cover how the various financial aid options like need based aid, merit aid, and loans apply to international students, and then we’ll go over some top colleges which provide financial aid to international students. Let’s get started!

Types of Financial Aid for International Students

The various kinds of aid offered work differently for international students, because while US colleges do enjoy having international students, many of them see them as a source of income. Thus financial aid options for international students are more limited across the board.

This is on top of how difficult admissions is for international students generally. Where aid does exist for international students, it is often very competitive, since you are compared with the best students from around the globe. We do not want to discourage you from applying, but to be aware of the challenges which may await.

Merit Aid for International Students

This is the easiest way for international students to get financial aid. This does not mean it is guaranteed, but a number of colleges which offer merit scholarships also offer them to international students. As with all merit aid, these awards can vary from a few thousand dollars to the full cost of tuition. They also all require you to maintain high academic performance to continue receiving the scholarship.

Not all schools offer merit aid to international students, and some merit aid scholarships have citizenship or residency requirements. That said, many schools which have large merit scholarships you can apply for also allow international students to apply. These are often specific to school. For more on this generally, check out our article on merit aid. Note that some schools, such as the Ivy League, do not offer any merit scholarships at all.

Need-Based Aid for International Students

This is much harder to get, as the majority of need-based aid available to students at US colleges comes from the federal government. This money is set aside for citizens and permanent residents through FAFSA. Thus the only need-based aid available to international students comes from the colleges they attend.

The issue here is that many colleges require tuition money to balance their fiscal budgets, and view international students as a major source of that funding. This limits the amount of scholarship money they are able to furnish for international students. Generally, only schools with very large endowments are able to offer funding freely to international students. This is also generally limited to private colleges; public universities do not offer need-based aid to international students.

These schools come in a few flavors:

• Need blind. These schools do not take into account your ability to pay when making admissions decisions. Many top colleges are need blind for US citizens and residents.
• Need aware. These schools take into consideration your ability to pay when making admissions decisions. Many colleges which are need blind for US citizens are need aware for international students. For a deeper exploration of these terms we explore them in an article here.
• Limited funding. These schools will meet need while they have funding. They may or may not take into account your ability to pay, but they do not guarantee scholarship funding if you are admitted.
• Full need met. These schools will meet your demonstrated need fully if you are admitted. Many of the schools which promise this are need aware in admissions, because they have a limited amount of total scholarship money. Most of these schools will also require you to do work study on campus.

Work Study for International Students

While most work-study is federally subsidized, international students are still eligible to work on campus if they are on an F-1 visa. This is often included as part of a financial aid package, just as it is for domestic students.

Loans for International Students

There are no federally guaranteed loans available for international students, as the paperwork for these is also handled via FAFSA. Private loans are available for international students, and colleges will often support students when they are applying for these loans.

Colleges That Provide Aid for International Students

Here is a table of colleges which provide aid for international students. In the notes column, we indicate whether the school is need blind or need aware, and what funding they guarantee, along with any other important notes.

This is not a comprehensive list of all colleges, nor is it every college which offers aid to international students. We hope it is a good starting place for international students who are looking to build a college list, and who are conscious of how they will pay for college. We will only be listing colleges’ stances on need-based aid on this table. If a college does not provide need based aid to international students, they are not included here.

Note that this table does not reflect how these colleges determine aid for domestic applicants.

Limited available means either that the university is severely limited in the number of students it may take on who need aid, or that their grants will not cover the full cost of tuition (often both). Even colleges which meet full need may not cover associated costs, including travel or supplies. We recommend you check each college’s policies carefully.

Also note that financial aid awards can include loans as well as grants. While some colleges are committed to meeting full demonstrated need with grants alone, some awards will include loans, work study, or expected student contributions.

Final Thoughts

College is expensive in the US, especially compared to many countries around the world. That said, colleges in the US are also some of the most prestigious in the world, and draw tens of thousands of applicants from across the globe. We hope that this article has given you the information you need to apply to the colleges in the US which best support your needs and interests.

Of course, paying for college only becomes a challenge once you get in. If you are looking for support with your application, or assistance in navigating what American universities are looking for, schedule a free consultation today. If you are concerned about paying for our services, check out our pro bono program. Either way, we’re always happy to hear from you, and to help you on your collegiate journey.