The document provides information on financial aid for international students, defining it as money from outside the family to pay for education. It explains the types and sources of aid, including institutional, private, and government sources, as well as the application process and required forms. The document also offers advice on creative ways international students can pay for their education, such as scholarships for IB coursework or co-op education programs.
4. WHAT IS FINANCIAL AID?
Money supplied by a source outside the
family to help pay for the cost of education.
In reality, many colleges separate
Financial Aid (need-based)
Scholarships (merit-based)
5. WHAT IS FINANCIAL AID?
Philosophy: the beneficiary of the education
has the primary responsibility for it’s cost
How aid is distributed is influenced by the
government’s view of how higher education
should be funded.
US vs. UK/Canada/Scandanavia
1.
2.
3.
4.
Student
Parent
Institution
Government
6. FINANCIAL AID IS...
An assistance device
Not designed to replace a family’s (primary)
contribution
Not based on what the parent’s would LIKE to pay
11. DETERMINING NEED
Cost of Attendance
- Expected Family Contribution
Eligibility or Financial Need
COA
• Billable Costs: Tuition, Room &
Board, Fees, Health Insurance
• Indirect Costs: Books, Spending
Money, Transportation from Manila,
etc.
12. SOURCES OF AID
Institutional
Private
Student/Family
Community Organizations
Civic Groups
Religious Organizations
Businesses
Industry
13. Measure of Quality
Academic
Athletic
Artistic
Special Characteristic
Family resources not a factor
Award levels based on sponsors’
goals, institutional priorities and
funding levels
Always double check to see if merit aid is an “automatic”
process or a separate application.
14. Family ability to pay
Eligibility may vary
Cost of college
Availability of funding
College calculates family
contribution
College awards aid based on level
of need and available funding
16. APPLYING FOR FINANCIAL
AID
Research required: forms and deadlines
International Financial Aid Form
CSS/Financial Aid PROFILE
College-Specific Forms
NOTE: Certification of Finances is needed for
ALL non-US citizens.
17. CERTIFICATION OF FINANCES
Documentation to provide information about the
amount of funding the student has available
School based form
Bank letter
College Board form
ALSO a requirement for
issuing the I-20 visa
documentation
18. INTERNATIONAL STUDENT
FINANCIAL AID APPLICATION
College Board Generic Form
School based form
Be sure to use the form
the school asks for!
20. FORMS & DOCUMENTS
Parent tax returns
Student tax returns
Divorced or separated parent information
Other information to verify
Income
Assets
Family Size
Special circumstances
23. IB COURSE WORK
Credit Or
Scholarships
http://blogs.ibo.org/funding-opportunities/
Did you know that most
Florida universities will
grant a full year of credit for
an IB Diploma score of 32?
Also Southern Methodist,
Ohio Wesleyan, U of
Minnesota, Oregon State,
and other public
universities
31. CO-OP EDUCATION
Wor k, Make Money, Ear n Credit at the
SAME TIME!
• California Polytechnic State
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•
•
•
•
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•
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University, Sam Luis Obispo
University of Cincinatti
Georgia Institute of Technology
Johnson & Wales
Kettering
Long Island University, CW
Post
University of Louisville
UMass, Dartmouth
Merrimack College
Miami Dade College
University of Michigan,
Dearborn
Northeastern University
Pace University
Rochester Institute of
Technology
University of Toledo
33. JUNIOR YEAR
Research colleges and financial aid websites
thoroughly
Determine what your real level of need is
Have realistic conversations with students about
what you can afford now
Talk to representatives who visit ISM. They don’t
work for the Financial Aid office, but can provide
some insight.
Visit the Financial Aid office when visiting campuses
Do well academically
34. SENIOR YEAR: 1 ST
SEMESTER
Get organized
Deadlines: Scholarship/Aid deadlines might be earlier
Complete college applications
Register for CSS Profile if needed
Gather information needed for:
CSS Profile
International Financial Aid Form
Check each university’s website
35. SENIOR YEAR: 2 ND
SEMESTER
February – April
Receive award letters
Evaluate awards
Contact University if necessary
Make decisions
April – June
Follow university’s procedures
Send required forms
Signatures
Deposit
37. POINTS TO REMEMBER
US View: Paying for university may require some
sacrifice (vacations, helpers, etc.)
Deadlines vary by institution
Write or call the institution if any information is
unclear or if there are any unanswered questions
(DO NOT ASSUME!)
Be prepared to provide documentation of family
resources
38. POINTS TO REMEMBER
Some aid requires you to re-apply every year
Some aid may be contingent on grades/GPA to
maintain aid
Keep copies of forms completed as well as
supporting documentation
Tax forms
Employer’s statements
Bank statements
39. THANK YOU FOR
COMING!
This presentation will be posted on the HS
Guidance blog in the next week.
http://guidance.ism-online.org/