Financial Aid & Scholarships | Study in the US – Chapter 12 | UniRely

October 27, 2019 0 By Stanley Isaacs

Hi everyone, my name is Pooja and I am an advisor at UniRely. Today, I am gonna be talking about types of financial aid for US universities. There are two types of financial aid available to students applying to US universities. 1) Scholarships 2) Grants First, lets talk about scholarships. Scholarships are non governmental aid offered to exceptional students for academic or other achievements There are often issued by corporations, non-profit organizations or universities themselves. Scholarships are offered to international
students so you just need to find the scholarship that you are eligible for. There are two kinds of scholarships. 1) Need Based Scholarships 2) Merit Based Scholarships Need based scholarships are also known as need based financial aid. You can apply to this by filling out the CSS
profile online. The CSS profile is administered by the College
Scholarship Service which is the financial aid division of the College Board. This form can be used by universities to determine
your eligibility for the non-governmental financial aid, To know more, you can visit
the official College Board website. The CSS application form is very time consuming. So make sure you fill it out well in advance. Also, make sure you are completely honest
on the form because penalties of lying are very serious.They include fines upto $20,000
and 5 years of jail time. It is important to remember that universities
may consider your application less competitive if you apply with a requirement of a need
based scholarship. For example, if there are two students with
the same test scores and profile, one who has applied for scholarship and the other
who hasn’t. Universities may prefer the student who has not applied for scholarship. A merit based scholarship is awarded to students
based on their academic achievements and artistic ability. You may receive this if universities believe that you are a strong applicant. This type of scholarships may be awarded to
you even if you haven’t applied for it. Next, let’s talk about grants. A grant is federal aid offered by the US government
and in order to receive it, you must fill a form online called FAFSA. FAFSA stands for free application for federal
student aid and it is administered by the American department for education. FAFSA also gives students an option to apply
for federal work-study which provides part-time jobs to students with financial need. To know more about FAFSA, you can visit the
official FAFSA website. International students are not eligible for
Federal grants, however some universities may require you to fill this form for their
own need based or merit based scholarship programs. This form allows universities to understand
your financial position better. Hence, we recommend that you fill out the
FAFSA. Every university has its own requirement and
criteria for scholarship so make sure you check the university websites. We hope you found this video helpful. To know more about how to apply abroad, you
can logon to or download the UniRely app now!