US Universities Offering Need-Based Scholarships: Financial Aid for International Students in the US
Most students across the globe nurture a dream of pursuing higher education in the US. However, the financial burden proves to be a significant barricade. Many universities in the US offer scholarships and financial aid to make education accessible. Of these, need-based scholarships have come up as a crucial support system for students who portray financial needs. In this blog, we will consider some types of scholarships available for need-based scholarship purposes, and how international students can make good use of these available opportunities.
Scholarship in US Universities
For many international students who come to study in the US, scholarships are a key source of finance. While many opt for private educational loans or self-finance their studies, scholarships can provide a very good alternative to limiting expenses incurred while studying abroad. US universities also offer both merit-based and need-based scholarships to international students, which target different facets of a student’s profile.
Merit-based scholarships are those awarded in exchange for a student’s academic performance, leadership skills, or extraordinary abilities in certain specified areas. To be eligible for such scholarships, students generally need a high GPA, good GRE/GMAT scores, and a demonstrated record of excellence at academics or research.
Need-Based Scholarships are those that help students who portray actual financial needs. These scholarships were created to make education available to students who otherwise would never afford it. Most of the top universities in the US offer quite generous need-based financial aid to international students so that financial constraints do not become an obstacle to educational pursuits.
Need-Blind vs. Need-Aware vs. Need-Based Financial Aid
One should note, while researching the available financial aid options for students, what really need-blind, need-aware, and need-based financial aid mean.
Need-Blind Admissions: Only a few elite US universities follow the need-blind admission process, wherein admission decisions are completely independent of a student’s financial need. Quite often, such institutions cover 100% of the demonstrated financial need for their entire admitted student body, including international students. Examples include Harvard University, Yale University, and MIT.
Need-Aware Admissions: The need-aware admission policy is one in which a student’s financial situation is considered when they are admitted. Although this might influence the admission decision, nevertheless, the students who receive an admit will have a significant financial aid awarded to them based on demonstrated need. New York University and Emory University both follow this policy.
Need-Based Financial Aid: This financial aid is awarded to students strictly on the basis of their financial background. Students would have to submit documents that project their finances, such as the CSS Profile or financial-aid-specific forms of the university concerned. Most of the elite universities, including Princeton University and Stanford University, offer very competitive need-based financial aid.
Assistantships and Tuition Waivers
Other forms of financial aid, excluding scholarships, include assistantships and tuition waivers.
Assistantships are commonly provided to students in return for assistance provided by them to faculty members in research, teaching, and administrative duties. Normally, RAs, GAs, and TAs are provided, accompanied by a tuition waiver that drastically reduces the education costs.
For securing these opportunities, students should actively engage themselves with faculty members and staff involved in research. Building relationships at an early stage of the program, combined with the demonstration of your skills, will definitely keep you in a good position to win an assistantship. One needs to keep a strong academic background and demonstrate one’s potential as a valuable contributor to either research or teaching efforts.
List of Top US Universities Offering Need-Based Scholarships
The following are some of the very good universities that are renowned for their financial aid packages:
Need-Blind Universities include Harvard University, Yale University, MIT, Princeton University, and Stanford University.
Need-Aware Universities include New York University, Emory University, Boston College, Tufts University, Reed College
Need-Based Universities include Harvard University, Yale University, Princeton University, Stanford University, Columbia University
These colleges are known to help international students with different financial aid programs. What each of these colleges has to offer and needs differs from one college to another; therefore, their official websites would be the best source for detailed information.
Conclusion
Looking for financial aid to study in the US requires extensive research and a clear strategy. Ranging from merit-based scholarships to need-blind or need-aware financial aid, and other need-based aids, one has to be aware of what each university can offer and what the application procedure is. Only through this will you find the best possible financial aid that will help you succeed in your academic and financial requirements to study in the United States.
