Applying for financial aid and scholarships in the US is the only way for many students to realize the “American Dream”. However, applying for scholarships is not easy, especially for international students. The high quality of education in the US also comes with expensive study costs, with tuition and living expenses ranging from $20,000 to more than $80,000 per year. This article will provide knowledge about the types of financial aid at American universities.

Types of financial aid

• Grants: are non-repayable grants, usually based on the financial need of the student’s family or on the student’s academic ability (merit-based). For international students, grants often come from the school.
• Work-Study/Campus Job: is a source of financial support by working on campus.
• Student Loans: is money lent to students and must be repaid. Students will pay back both the principal and interest over a period of time after graduation. Vietnamese families often choose not to accept this support from the school.

These three types of financial support do not require additional application documents. That means you will be automatically considered for the above types of support if you submit your application on time. However, to receive continuous support, students must meet basic requirements such as being a full-time student, meeting the required GPA (usually >3.0/4.0), etc.

Most US universities have a “need-aware” policy for international students, meaning that how much aid you apply for is a determining factor in whether you are accepted or not. Only a few wealthy schools such as MIT, Harvard, Princeton, Yale, Amherst have a “need-blind” policy for international students. This means that they will only admit students based on their application without considering the financial situation of the applicant. Scholarship Packages

In addition to financial aid, schools also have many types of scholarships for students, such as Dean’s Scholarships (usually very generous, covering 100% of tuition), International Grant/Scholarship (they give priority to international students because diversity is an important link in the school’s reputation), Women’s Scholarship, First-generation Scholarship, Honor Scholarship (for top students), Scholarships from benefactors – these scholarships are often named after alumni or families of alumni of the school, etc. These scholarships can range from a few thousand US dollars to full tuition, even full tuition and accommodation (full-ride), meaning you study abroad for free! Some schools have full-ride scholarships.

Scholarships often require students to submit an additional scholarship application that includes a number of essays, and possibly an in-person interview with a school representative (Admissions Committee, Alumni, etc.). Factors considered when considering scholarships include academic ability, standardized test scores, GPA, extracurricular activities, special factors such as being the first-generation student to attend college, special talents, etc.

An interesting point about scholarships is that at some schools, if students are awarded a scholarship, they are required to write a thank you letter and send it to the families that funded the scholarship. Scholarships are also more diverse in their names, which can be the name of an alumnus, the name of a fund (such as Phi Theta Kappa (PTK) Scholarship), or the name of the scholarship awarding factor such as Merit Scholarship, Portfolio Scholarship, Athletic Scholarship, Global Scholar Scholarship, Performing Arts Scholarship, etc. Unlike financial aid, scholarships are very clear in the amount of student support (very « even »), which can be 5,000-10,000 USD or even full support from accommodation, tuition to living expenses, travel.

Scholarships from external funds

In addition to scholarships and financial aid from the school, students can refer to the following scholarship sources:

• Deserve Scholarship: 1,000 USD for 25 international students
• Mpower Financing: 1 scholarship of 5,000 USD and 2 scholarships of 1,000 USD for international students who have been accepted to schools on the list
• #YouAreWelcomeHere: at least 50% of tuition
• College Board Scholarship
• And countless other scholarships can be found on IEFA. IEFA is a scholarship site that most American universities recommend to students when they request additional financial support, so you can rest assured about the diversity and authenticity of this website!

Fulbright Scholarship Program for Graduate Students

There are many organizations that offer different scholarships for international students. One of the most well-known scholarships is the Fulbright Program, which is a student exchange program funded by the U.S. government. There are approximately 155 countries participating in this program. The scholarships offered are very diverse, but this is also one of the most competitive programs due to the large number of applications.

How to apply for financial aid?

The first step is to contact the universities or educational institutions you are interested in directly to get information about the courses that are financially supported, as well as how to apply. This will save you time and avoid inaccurate information.