This article attempts to
highlight a few financial aid packages that are awarded to the international
Indian students studying at the US Universities. The financial aids awarded are
generally in the form of scholarships or assistantships. In a few cases educational
loans and grants are also awarded to Indians by the US Universities.
What is financial aid offered by the US
Universities to international students?
Since the cost of
education in US is very high, the tuition fees, living and other expenses are also
very high. It becomes extremely difficult for students, especially
international students to live in USA and pursue higher education. To reduce
the financial burden of the students, US Universities provide financial aid to
aspiring students. Universities in USA provide financial aid to Indian students
in many forms – scholarships, assistantships, educational loan, internships,
co-operative programs, grants and work studies.
Scholarships awarded to International students
and Indian students studying in US Universities
There are many
scholarships made available by the US Government, US Universities, Indian
government, public and private organizations to Indians studying in USA. Fulbright-Nehru
Fellowship, Rotary fellowship, RSM Fellowship, World Bank scholarship and Ford
Foundation scholarships are just to name a few. For complete details regarding all types of scholarships given to Indians
studying in US, visit the following article:
Assistantships for
Indian students at US Universities
The US Universities teachers and professors are in constant
need of assistants for research as well as coursework. The students pursuing
higher education are given assistantships by means of which the students can
provide service to the professors in the Universities and in return they will
receive portion of fee waiver. There are broadly two major types of
assistantships awarded to Indians – Research Assistantships (RA) and Teaching
Assistantships (TA). The RA awarded to graduate students is also called as GA (Graduate
Assistantship). For more details on the assistantships and how to apply for
these, read this article:
Internships and
co-operative programs by Universities
When the international student completes 2 semesters of
coursework in US, he becomes eligible to apply for internships which help the
student earn some money to support his education. Similar to the internships,
some Universities in US have the co-operative program wherein the University
has a tie up with industries and the student can participate in practical
experience based learning. The compensation received for his work helps fund
his education. A co-operative education program is similar to internships, but
it is more of a mutual program by the US University as well as the industries
in the nearby areas.
Educational loans available
to students studying in USA
A number of education loans are available to Indians who are
pursuing higher education in USA.
- Federal Student Loan directly to students: The US government provides a student loan to aspiring young students who require funds to support education. The interest rates of the federal loans are very minimal. The student need not pay the loan as long as he/she gets an internship or job.
- Private Student Loans: These are the loans given by non-Government institutions like banks. Compared to the Federal loans, these loans can be of higher amount, but the interest rates are also high. Similar to Federal loans, the Private loans also need not be repaid until the student secures an internship or job.
- University loans: Many Universities provide loans to students who wish to pursue higher education. But these loans are provided to those students who need it and show merit.
