How much does college cost?
College education is one of the biggest investments every family makes in their lifetime. As an international student, you will not only take classes but also live in a different country, which implies various expenses:
| + Tuition Fees |
| + Books and other supplies |
| + Housing |
| + Food (meal plan) |
| + Flights for travel to the US |
| + Visa |
| + Health Insurance |
| + Miscellaneous and personal expenses |
| = Total Cost of Attendance |
All of these combined make up the Total Cost of Attendance. Your total cost of attendance can range anywhere from 20,000 USD to 100,000 USD per year. When planning for funding, ensure that you take all costs into account.
Even though these costs are scary, US is one of the very few countries that provides very generous funding to international students, and some of these opportunities encompass full coverage of your costs, including meals and visa expenses. Needless to say, such funding is highly competitive, but hey — you can actually attend any Ivy League university completely for free!
Merit-based scholarships
As an undergraduate international student, you have two possible funding options: Merit-based scholarships and Need-based financial aid.
Merit-based scholarships are awarded for outstanding achievements in academics or other areas such as sports or the arts. They are highly competitive and typically granted to only a few students each year. In some cases, students are automatically considered for this scholarship, while in others, you are required to complete an application. The amount of merit-based scholarships varies, but in the best cases, they can be full and cover 100% of your expenses.
Full merit-based scholarships in the USA
Need-based financial aid
Need-based scholarships, more commonly referred to as financial aid, are offered based on your ability to pay for college. A handful of universities meet 100% of demonstrated financial need, which means if you truly can't pay anything, you might be able to get 100% of your expenses covered, including visas and flights (this is, of course, very difficult to obtain). However, if your family has the ability to pay, you will be expected to contribute.
Let's learn how to calculate the amount of financial aid. You need to be familiar with three terms:
The formula to calculate Demonstrated Financial Need is:
Total Cost of Attendance (COA) - Expected Family Contribution (EFC) = Demonstrated Financial Need
Example Calculation
- Total Cost of Attendance at Pomona College: $89,414/year
- Your family's income and assets allow them to pay: $45,000/year
- Your Demonstrated Financial Need: $89,414 - $45,000 = $44,414/year
- Since Pomona College meets 100% of demonstrated financial need, you could potentially receive $44,414/year in financial aid from them.
Need-aware vs. need-blind
Need-blind and need-aware universities differ in their approach to considering an applicant's financial situation during the admissions process. Need-blind universities evaluate applicants without taking their financial needs into account, focusing solely on their academic and extracurricular achievements. Need-blind universities that meet 100% of demonstrated financial need of international students are:
- Harvard University
- Princeton University
- MIT
- Yale University
- Dartmouth College
- Amherst College
- Bowdoin College
- Brown University
In contrast, need-aware universities factor in an applicant's financial needs when making admission decisions, which may impact their chances of acceptance, particularly for international students or those requiring significant financial aid. However, you can still get accepted and receive full aid at need-aware universities! For example, Stanford is need-aware, but here are stories of students getting full aid.
🗣️ veronica says...
Veronica Lee
Admissions Expert“The amount of financial aid is determined purely by your family's financial situation, not merit. Just because someone got less aid it doesn't mean they are less qualified; it just means that their family had a larger budget.”
