The U.S. is renowned for the large selection of high-quality universities and colleges that students around the world can attend. However, like many things in America, tuition rates are expensive. The U.S. recently ranked as #1 amongst the 35 OECD member countries in terms of tuition rates for both public and private universities.
Though this may seem bleak, there are many ways in which you can help yourself in terms reducing the amount you’ll be asked to pay for tuition that can be a lot more simple than you expect. We put together a guide below of useful tips for lowering your tuition and paying it off.
Most common ways to lower your tuition
Scholarships/Grants
Though admission to U.S. universities is often very competitive, they are aware that many students are taking cost into account when making their college decision. With this, you can often find a variety of resources you can apply for to lower your tuition and entice you to attend.
These incentives often come in the way of scholarships or financial aid. Scholarships are usually merit-based so if you have high academic performance, special skills and/or abilities, you’ll often be offered one. Prior to applying to schools, it’s always best to make sure you’re doing things that can be added to your resume.
Once admitted, you can contact your school’s financial aid office and see what resources they provide in terms of scholarships or financial aid. You can view a list of schools that provide aid for international students here.
Useful resources to reference:
- Fulbright Grants For Foreign Students– Perhaps the most well-known grant for international students, provides funding for undergraduate students, young professionals, and artists to research and study for one year or more.
- EducationUSA– a great tool to use to research colleges and financial aid opportunities. This service is provided by the U.S. Department of State and the Institute of International Education.
- ISO’s scholarships resources– Visit our “Scholarships” link in the header for a database of scholarship opportunities and more information on how to apply.
Depending on which country you are coming from, your home country may also provide financial aid or scholarships through non-profits organizations for students studying abroad to utilize. You can contact your ministry of education to see what opportunities are available.
Attend a community college
As stated earlier, the U.S. has a seemingly endless number of schools to choose from. If you’re currently looking to apply and are getting discouraged by high tuition costs, considering going to a community college.
They often offer 2-year programs where you can transfer your course credits to a larger university afterwards. On average out-of-state students pay $8,210 annually for tuition at community college while out-of-state tuition for public 4-year colleges is $26,382.
Community colleges are smaller and often don’t offer housing but many are open to accepting international students. Keep that in mind when reviewing options and if you need help transferring review our article here.
Complete your program earlier
Though schools often have a regular number of credits you’re supposed to take per semester, there is generally no limit on how many classes you can take. With this, it’s possible to complete a 4-year program in quicker than that depending on how much you want to take on.
In addition to paying for your credits, schools often charge fixed costs per semester for other related expenses. If you were to finish your studies in 3 years, you’ll wind up paying the same amount for your credits but will miss out on extra semesters of those fixed costs. It may make for a tougher journey during your time at school but a less expensive one.
Become an Resident Assistant
If you’re an upperclassmen planning to live on campus, you can consider signing up to become a resident assistant (RA) for your university. It does come with a lot of responsibility but RAs will often be offered housing for free and get discounts on meal plans, parking permits, etc.
Purchase health insurance elsewhere
One of the most nagging expenses you’ll have on your tuition as an international student is health insurance. Schools often set up group insurance plans that are as comprehensive as possible to help protect students, which usually include add-ons that drive up the cost but aren’t necessarily essential.
Most schools offer the option to waive out of this plan if you have comparable coverage elsewhere. If you’re looking to save, ISO offers plans for international students that are designed to meet your school’s unique waiver requirements. Enroll today and save hundreds, if not thousands, of dollars this school year.
Tips for paying your tuition
Pay now, stress less later
Once you’ve exhausted the options above, you’ll have to start looking into your own pockets to make your tuition payment. Even with some help, it could wind up looking like large sum of money. However, the biggest tip we can offer is to make sure you pay as much as you comfortably can towards it.
If you are a prospective student in the U.S., begin saving up as much as you can now and discuss with your parents/guardians to see how much you have saved up to see if coming to the U.S. is worth it. If you don’t have enough to pay, there are a variety of loan options to explore but it’s always best to avoid incurring debt at such a young age if possible.
If you need to make some money during your time in school, learn how to find an on-campus job or internship here.
If you need to get a loan, know what to look for
If you’ve exhausted every other option to pay your tuition, it’s probably best to look into a student loan. There are a variety of banks/credit unions that offer options for students but they often take advantage of the situation and charge higher interest rates than usual.
If you do need to get a loan, we strongly suggest looking into an option from your home country. It’s fairly difficult to get a student loan from a U.S. company since international students will not have credit history in the U.S. Most companies will also require a cosigner who is a U.S. citizen/permanent resident or to have lived in the U.S. for at least two years, which will be difficult to find if you don’t have friends/family already here.
When looking through options, always try to look for the lowest interest rate possible, but also weigh other details like if deferred repayment is offered, monthly payment amount, repayment period length and maximum loan amount.
For recommendations on U.S. based student loan options, you can review here.
