Many students dream of studying abroad to pursue higher education, hoping that after graduation, they will get merit in job prospects with higher salaries. Even though the journey is exciting and filled with new experiences, cultural discoveries, and academic opportunities, one can’t simply ignore the daunting limits and problems that come with it. Tuning in the environment, substantial cultural differentiation, and ceaseless cash flow are essential, especially when it comes to understanding the intricate web of regulations, resources, and support systems available to you. Instead of spending a king’s ransom, availing of financial aid and scholarships will help you avoid huge debts and loans.
In this comprehensive guide, we will learn about the wealth of services and resources available to help you thrive in the U.S. We will also explore how FAFSA serves as a guiding light for international students and scholars.
What is FAFSA?
FAFSA, the Free Application for Federal Student Aid, is a crucial step in securing financial aid for college education in the United States. It is managed by the U.S. Department of Education to help students financially to complete their education. FAFSA is an application form that needs to be filled out to determine your eligibility for federal student U.S. financial aid programs, including grants, loans, and work-study. Additionally, many colleges use the FAFSA to determine eligibility for their institutional aid programs. FAFSA has a strict deadline policy and must be submitted annually for each academic year the student plans to attend college and receive aid.
What are the Eligibility Criteria for Foreign Students?
To be eligible for federal student aid as an international student, you must meet the following criteria:
Citizenship: You only need to be a U.S. citizen, permanent resident (Green Card holder), or a non-citizen who qualifies for U.S. immigration benefits.
Valid Social Security Number (SSN): You must have a valid SSN unless you are from the Republic of the Marshall Islands, the Federated States of Micronesia, or the Republic of Palau. In such a situation, you can apply for federal student aid but must submit other documentation.
Education Status: You must have a high school diploma, GED, or completed homeschooling.
Enrollment Status: You must be enrolled or accepted for enrollment as a regular student in an eligible degree or certificate program at an eligible institution.
Academic Progress: You are required to meet the Satisfactory Academic Progress Standards as determined by your institution.
Selective Service Registration: All male students aged 18 to 25 are required to register for the Selective Service System. This requirement is the same for all male non-citizens, whether they are green card holders or qualifying immigrants.
What are the Types of Financial Aid you can Acquire Through FAFSA?
1. Federal Grants:
- Pell Grant: A non-repayable, need-based undergraduate student grant based on outstanding financial requirements and entitlement.
- Federal Supplemental Educational Opportunity Grant (FSEOG): A need-based scholarship given to undergraduate students based on financial need provided by the institution in question.
2. Federal Work-Study Program:
It provides students with part-time employment to enable them to earn some money for school expenses.
3. Federal Student Loans:
- Direct Subsidized Loans: Need-based loans for undergraduate students where the government pays the interest while the student is in school.
- Direct Unsubsidized Loans: Subsidized loans that are non-need-based require interest to be charged while the student is in school.
- Direct PLUS Loans: Loans available to graduate students and parents of dependent undergraduate students to help cover educational expenses not covered by other aid.
4. Teacher Education Assistance for College and Higher Education (TEACH) Grants:
Scholarships for students who intend to teach in high-need areas and commit to teaching for four years.
5. Institutional Aids: Some many colleges and universities provide financial support to international students. Check directly with the school and with their financial aid office.
Completing the FAFSA as a Foreign Student
After ensuring you are eligible to apply for FAFSA, you must fill out the application form. For the year 2023 to 2024, the deadline is June 30, 2024. So, don’t miss out on opportunities.
Gather Required Documents: Before filing your application, you will need to assemble several documents, such as your SSN, if applicable, Alien Registration Number, Federal Income Tax Returns, W 2 Forms, and any documentation of income or assets.
Create an FSA ID: Go to the Federal Student Aid (FSA) website and complete the FSA ID, as it will act as your legal signature for FAFSA and other federal student aid purposes.
Start the FAFSA Application: Visit fafsa.gov and click the “Start Here” button to begin the application process. Follow the prompts and provide accurate information about your financial and educational background.
Parental Information: If your federal student aid application considers you dependent, you must submit your parents’ information, including the income earned and the asset info, even if your parents are non-residents of the United States.
Sign and Submit: It is also important to note that after submitting the FAFSA form, you should verify the details provided and make any necessary adjustments. Finally, sign the application online with your FSA ID and complete the form submission.
Other Considerations for Foreign Students
Institutional Student Information Record (ISIR): Once you have completed the FAFSA, the Department of Education shall process your application and, after that, prepare an Institutional Student Information Record (ISIR), which is then forwarded to the institutions you have listed in the FAFSA. Be sure to check through all the details provided in the ISIR and edit whatever has been wrongly written.
Additional Documentation: Your school’s financial aid office may require you to provide other supporting documents to corroborate the information you have provided or ascertain your eligibility for financial assistance.
Financial Aid Eligibility: You may apply for federal loans, including Direct Subsidized Loans, Direct Unsubsidized Loans, and institutional loans offered at the institution you are going to attend as an international student. However, you are ineligible for Federal Grants like the Pell Grant or Federal Supplemental Education Opportunity Grant (FSEOG).
Private Loans and Scholarships: It is also advised that private student loans and scholarships available to international students be considered. They can complement your financial aid offer and contribute to tuition, fees, books, and other expenses.
Conclusion
Navigating the FAFSA as an international student can be challenging. Still, with the proper preparation and understanding of the process, you can increase your chances of securing financial aid for your education in the United States. It is essential to give correct information, meet all the deadlines, and keep in touch with your school’s financial aid office the whole time.
Read more: The new trendsetter of the industry: UGC has stepped up the game