Types of Financial Aid Available to Study in USA

 

USA is one of the most preferred study destinations by the students who are planning to pursue their education overseas. International students move to USA to fulfil their study abroad dream. A 4-year bachelors degree in USA, can cost up to 1 crore whereas a 2-year masters program can cost around 40-50 lakhs. Naturally, students will look for scholarships, grants, fellowships when it comes to fund their foreign education. In this blog, I am going to tell you the financial aids available to study in the USA.

Government Scholarships: 

Students are unaware about the wide range of scholarships introduced by Indian Government who are looking forward to pursuing their higher education in the USA. Right from category-based scholarships to interest subsidy schemes, there are various options available for the students who wishes to pursue their higher education in the USA. Apart from Indian scholarships, there are various popular scholarships to study overseas that are offered by American government. Students are required to check the websites of central, state government and American government for the regular updates regarding scholarships.

University Scholarships: 

There are majority of Foreign universities offering scholarships in the USA to the meritorious international students to help them fund their foreign degree. These scholarships can be partial or fully paid, depending on the criteria of the university. Check the eligibility criteria and if you are lucky to meet it, apply without any further ado.

Fellowships: 

Various multi-national companies both in India and in the USA offer fellowships for bachelors and masters level. These scholarships can be fully or partially funded and are offered to a limited number of deserving candidates.

University Prizes: 

For students securing outstanding marks in their academics during the duration of the course, university prizes are introduced. Such prizes can waive off the semester fees and also award with the prestigious title of ‘University Scholar’.

Sports Scholarships: 

There is an advantage for all the sportsperson who are looking to pursue their higher education in the USA. They have access to all the government and university scholarships reserved for the sports quota. Students don’t necessarily need to have represented at the national or state-level. Even a sports practitioner who has represented the sports team at university or college level is also qualified to apply for the scholarship.

Education Loans: 

Education loan for studying in the USA is the most secured option to fund your international degree. Students usually opt for any one of these two types of loans i.e., Secured Education Loan and Unsecured Education Loan. These loans are offered by nationalized banks, private banks, Non-Banking Financial Corporation (NBFCs) and International lenders. Availing an education loan gives various benefits like income tax rebate and few others.


With these six financial aid options available you can afford to study in the USA. Do a thorough research and plan in advance. Once you finalize on your funding option, submit the application as the earliest and increase your chances of getting the financial aid. If you have any questions related to education loans or study abroad, we are here to resolve those. Just reach out to us.


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