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Help International Students Fund Their EducationNAFSA Region I Conference November 7-10, 2012 – Tacoma, WA
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• Jennifer Frankel• Marketing Manager• International Student Loan
• Deborah Park• Program Coordinator, International Programs • South Seattle Community College
• Sage Mwiinga• International Student Program Coordinator • The College of Idaho
Presenters
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• Understanding key factors and decision points for students as they navigate this process
• Understanding funding options
• With a clear picture of international financial aid resources
Walk Away…
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• Current Funding Climate• Closer Look at Funding for International Students
• How Institutions Can Assist• External Options • Discussion
Funding Roadmap
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South Seattle Community College • Part of Seattle Community
College District• Seattle Central Community College
(SCCC)
• North Seattle Community College (NSCC)
• South Seattle Community College (SSCC)
• SSCC has ~8,000 students from 100 countries
• ~360 international students
• Less than numbers at SCCC and NSCC
• 26 countries represented!
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• Idaho’s oldest private college
• Enrollment: Approx. 1,050 students (about 110 International Students representing 53 countries)
• 12:1 Student faculty ratio• Average class size is 10.8
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Current Funding Climate
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Primary Sources of Funding 2010 - 2011
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A Closer Look at Funding for International Students
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Timeline: Financial Considerations for International Students
Choosing Sc
hool
Verifying Su
fficient F
unds
Budgeting fo
r the Aca
demic Te
rm
Arriva
l and St
art Up Cost
School Breaks &
Vacation
Interruption -> Loss of Financial Support
Post-Graduation (O
PT,
Career)Gra
duation
Institutional Scholarships &
Work
Study
Academic
Fees
Continued Funding for th
e New
Academic
Term
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Choosing The School
• Cost of Attendance• Location (Rural vs. Urban)• Private vs. Public• Community College vs.
Four-Year Institution• Financial Assistance
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Pre-Arrival Considerations
• Verifying sufficient funds for one year minimum
• Bank Statement• Conditional Loan Approval • Letter of Financial Guarantee
• Arrival and Start Up Costs • Housing Costs• Cost of Attendance • Living Expenses
• Airfare
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Arrival Considerations
• Start up costs• Room & Board
• Homestay v. Dorm• Bedding, Toiletries, Clothes
• Beginning of the academic term
• Tuition/Lab Fees• Books & Supplies• Insurance
• Semester Breaks
What do students actually budget for?
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Post-Graduation & Transfer Considerations• Transfer• Grad School• Career Options• Optional Practical Training • Flight Home
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Pre-Arrival: Institutional Support
• Communicate the true cost of education
• Provide an Estimated Cost Worksheet to incoming students
• Use easy-to understand terminology
• Skype and answer questions
• Provide institutional scholarship information
http://www.marquette.edu/giving/truecost.shtml
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Creating a Realistic Budget
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Pre-Arrival: Institutional Support
• Communicate the true cost of living
• Housing• On-Campus vs. Off-Campus
• Living & Start-Up Costs• Appropriate clothing
• Transportation• Airport Pick-up/Shuttle• Car vs. Public Transportation
• Discount airfares (e.g. Missionary Fares)
http://www.telegraph.co.uk/finance/personalfinance/borrowing/2791552/The-Real-Cost-of-Living-Index-9.5-per-cent.html
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Arrival: Institutional Support
• Orientation• Welcome Packets • Shopping Trips• Workshops
• Banking Information Opportunities to Save
• Employment Options• Cultural Adjustment
• Courses or Workshops• Personal Finance
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New Academic Term: Institutional Support• Financial Aid
• Institutional Work Program (Work Study)
• Institutional Scholarships• Internal Networking
• On-campus job opportunities• Use of CPT for Internships
and/or Independent Study• Outside Resources
• Work Authorization Due to Economic Hardship
• Provide Information about Outside Scholarships
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Who Can You Turn To: Institutional Support• Alumni Association(s)
• Can your alumni associations help you develop a scholarship fund?
• International Clubs• Involvement on campus can
include mobilizing clubs to raise funds for scholarships.
• Student Organizations• Many schools have
international organizations (like a Chinese student association) – can they help?
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New Academic Term: Institutional Support
Financial Aid
Internal Networking
Outside Resources
• Work Authorization Due to Economic Hardship
• External financial assistance
• Institutional Work Program (Work Study)
• Institutional Scholarships
• On-campus job opportunities• Use of CPT for Internships
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What options exist outside your institution?
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Scholarships, Grants and Fellowships
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Scholarships, Fellowships and Grants:
IEFA.org FundingUSStudy.org
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Scholarships, Fellowships and Grants:
InternationalScholarship.com AbroadPlaner.com
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Scholarships, Fellowships and Grants:
• edu.fastweb.com
bigfuture.collegeboard.orgedu.fastweb.com
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Scholarships, Fellowships and Grants:
• www.miusa.org/ncde/financialaid/nonus
www.aie.orgwww.miusa.org
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International Student Loans
Which of these are available to an international student?
Federal Stafford
Perkins Loan
PLUS Loans
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• Apply online• Borrow total cost of education
• Minus any other financial aid!• Need a US cosigner
• US citizen or US permanent resident• Good credit history• Lived in the US for the past two years
• Initial approval within 2-6 weeks
How it Works
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International Student Loan Considerations
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International Student Loans:InternationalStudentLoan.com
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Compare Lenders for International Students
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Any Questions?
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Thank You!
Jennifer [email protected]
224 First StreetNeptune Beach, FL 32266(904) 247-1387 ext. 104
Deborah [email protected]
South Seattle Community College
6000 16th Ave SW
Seattle, WA 98106
(206) 934-5360
Sage [email protected]
The College of Idaho
2112 Cleveland Blvd
Caldwell, ID 83605
(208) 459-5024