4 ways international women can pay for studying abroad
Studying abroad opens endless possibilities, especially for international women in STEM and other specialized fields. Many women face significant challenges in their home countries, including limited access to higher education, societal pressures and underrepresentation in key industries. However, funding an international education remains a major hurdle for many women dreaming of studying abroad in the United States and Canada.
Why do international students want to study abroad?
Studying abroad offers the chance to gain a world-class education while experiencing new cultures and building a global professional network. It can be a transformative experience for women from countries where access to higher education or specialized fields is limited. Beyond academics, studying abroad fosters personal growth, independence and confidence – making it a powerful stepping stone for women striving to become leaders in their communities and industries.
According to the Institute of International Education’s 2024 Open Doors Report, roughly 1.1 million international students from more than 210 places of origin studied at U.S. higher education institutions for the 2023-24 academic year. The majority of these international students pursued STEM fields, followed by business and management.
Thanks to targeted initiatives encouraging female participation in these traditionally male-dominated areas, women have increased access to academic programs and funding opportunities to help make their dream of studying abroad a reality.
Encouragingly, the National Center for Science and Engineering Statistics (NCSES) report found that women earned nearly half of all science and engineering degrees in 2020, including 50% of bachelor’s, 49% of associate’s, 46% of master’s and 41% of doctoral degrees. Here are a few ways that international women are funding their study abroad journey.
Funding options for international women studying abroad
Paying for an international education isn’t cheap. But several options are available to help international women achieve their goals. Here are the most common funding sources for international women in STEM and other popular programs:
Personal and family savings
Most international students rely on family funds as their primary source of funding. However, this isn’t feasible for everyone, especially long-term programs in high-cost countries.
Fellowships and scholarships for women
Many universities and organizations offer fellowships or scholarships for international women in STEM fields, business, and other high-demand areas. Here are a few to research:
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- American Association of University Women (AAUW). Provides fellowships for international women pursuing graduate studies in the U.S., with a focus on academic excellence and leadership potential.
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- P.E.O. International Peace Scholarship. Offers financial support to women around the world who wish to pursue higher education, emphasizing peace-building and global connections.
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- Margaret McNamara Education Grants (MMEG). Focuses on women from developing countries who are dedicated to improving the lives of women and children in their home countries.
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- MPOWER International Women in STEM Scholarship. Awards scholarships to women in STEM fields, aiming to empower future leaders in science, technology, engineering and mathematics.
Note that MPOWER also offers a variety of international student scholarships, including unique monthly scholarship opportunities.
Research and teaching assistantships
Graduate assistantships are a highly sought-after position. They can be a great way to receive a tuition waiver or stipend (or both). However, teaching and research assistantships are awarded by department. So, interested students should make contact with their program and become friendly with faculty members to increase odds of selection.
Study abroad student loans
Unfortunately, most international students aren’t eligible for federal financial aid, such as federal student loans. It can also be hard to secure private financing if you don’t have a cosigner who’s a U.S. citizen or permanent resident. Fortunately, some private lenders, like MPOWER Financing, offer international graduate student loans without a cosigner or collateral.
MPOWER provides competitive fixed-rate loans from US$2,001 to US$100,000 to cover up to 100% of education expenses, including room and board. Additionally, MPOWER provides visa support and career services to round out a student’s study abroad experience.
Start planning for study abroad education
Studying abroad can be a life-changing experience. But it requires careful planning when it comes to funding. With the right financial tools and resources, international women can make a lasting impact in their chosen fields.
That’s where MPOWER Financing can be an invaluable resource. From study abroad student loans to career support, we’re dedicated to empowering international students to achieve their educational dreams.
