Studying in the US: 4 Things to Consider

Universities in the United States are known for their cutting-edge laboratories and facilities, sprawling campuses and academic excellence. As a result, studying in the U.S. is a common goal for many international students. In fact, Open Doors reported that the number of international students enrolled in colleges in the United States has increased to 948,519. Today, international students make up 4.7% of the students enrolled in postsecondary institutions in the United States. 

Although the idea of attending school and earning a degree in the U.S. can be appealing, you should know that the education system in the United States can be quite different from that of your home country. 

Essential things to know about studying in the U.S. 

Before applying for admission, there are four key things you should know about attending college in the United States: 

1. Higher education can be very expensive

While postsecondary education is free or low cost in several countries, the cost of attending college in the United States is very high. According to the National Center for Education Statistics, the average costs of attendance, including tuition, fees and room and board at public and private schools is:

• • Public universities: In the United States, students who attend public universities within their state of residence pay a lower rate. Students who live in other states, including international students, pay more for tuition. As of the 2020-2021 academic year, the average cost for out-of-state students was US$27,091 per year. 
    
  • Private universities: Private schools tend to be much more expensive than public universities in the U.S. As of the 2020-2021 academic year, the average cost was US$46,313 per year. 

These costs are for just one year of your education. Most students take at least four years to earn a bachelor’s degree, so you can expect to pay between US$108,364 and US$185,252 to complete an undergraduate degree. 

As an international student, you may have additional costs, too, such as flights to and from your home country, visa expenses and transportation. 

2. The application process can be intensive

Depending on where you want to go to school, the admissions process can be rigorous. When you apply, schools will look for the following information:

• • Your grades: Colleges will request transcripts from your current school.
    
  • Standardized test scores: In the U.S., students are required to complete standardized tests, and international students will have to take these exams too. For undergraduate programs, you’ll need to complete either the SAT or the ACT. If you plan on attending graduate school, you’ll need to complete the GRE or GMAT.
    
  • Language tests: If English isn’t the primary language in your home country, you will likely have to take an English language exam, such as the TOEFL, to prove your English fluency. This is critical, as classes at U.S. colleges are typically only in English.
    
  • Recommendation letters: You will need to submit letters of recommendation from teachers, managers or mentors who speak to your character and academic achievements.
    
  • Essays: Many colleges require you to submit a personal essay as part of the admissions process. 

3. Financial aid for international students may be limited

If your home country offers low-cost postsecondary education, the high cost of college in the U.S. can be shocking. Although the United States does have financial aid programs, the federal programs are limited to U.S. citizens and permanent residents; international students aren’t eligible for federal student loans or grants. 

However, there are other ways to finance your education:

• • Grants: Grants are awarded to students who need financial support. For international students, grants typically come from colleges and nonprofit organizations. FastWeb and the United Nations Educational, Scientific and Cultural Organization (UNESCO) are two excellent places to start searching for grants.
    

• • Scholarships: Scholarships are another option to finance your education. Unlike grants, which are usually awarded solely based on the student’s financial circumstances, scholarships are typically based on your merit. They’re available from several sources, including colleges, nonprofit organizations and private companies. You can find scholarship opportunities through the InternationalStudent.com college scholarship search tool, Scholarships.com and the BigFuture ScholarshipSearch tool.
    

• • Private student loans: When it comes to college loans for students, international students may find getting a student loan is challenging. Many U.S.-based lenders require international students to have a cosigner who is a U.S. citizen; if you don’t have relatives who meet this criteria, you aren’t eligible for a loan. However, there are some lenders, such as MPOWER Financing, that offer loans specifically designed for international students. MPOWER offers no-cosigner, no-collateral loans to international students studying in the United States and Canada.

4. Health insurance is important 

The United States does not have universal health care, so if you don’t have health insurance, you are solely responsible for paying medical bills if you get sick or injured. And those costs can be well into the thousands. For example, the cost of fixing a broken leg can be as much as US$7,500, and a three-day hospital stay averages US$30,000. 

Though health insurance isn’t required for an F visa, many colleges require students to have health coverage. If you’re studying in the United States, it will be important to purchase insurance – and in some cases it could be required. 

Some colleges and universities have health insurance plans you can enroll in for an added cost. You can also purchase a health insurance policy on your own, as long as it meets university requirements. 

Tip: You can find health insurance plans that meet your school’s insurance requirements through one of MPOWER Financing’s trusted partners. 

Attending college in the United States can be costly – but worth it

If you dream of studying in the United States, you should do your homework ahead of time to make sure you understand the admissions requirements and costs involved. Education expenses in the U.S. may be more expensive than you expect, and getting a student loan can be challenging. Being prepared by researching and finding available financing resources, like loan options through MPOWER  Financing, can make it easier to pay for your degree. 

Although college can be very expensive in the U.S., the experience can be well worth the cost. You’ll benefit from a world-class education and diverse campus life, giving you a rewarding experience that will benefit you in your professional career. 

Author:

Kat Tretina

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