There are two types of financial aid available to students applying to universities in the US for an undergraduate degree: Scholarships and Grants. Get in touch with mentors and counselors at UniRely who are studying at 100% scholarships in top universities abroad to improve your chances of getting financial aid.

Scholarships

Scholarships are non-governmental aid given to exceptional students for academic or other achievements. These are often issued by corporations, non-profit organizations and the universities themselves. Scholarships are available to international students and have a variety of criteria such as your country of residence, age, academic major and financial background. You just need to find a scholarship that you are eligible for. There are two types of scholarships:

1. Need-based scholarships
2. Merit-based Scholarships

Need-based scholarships

These are also known as need-based financial aid. An applicant can apply for this by filling out the CSS profile online. The CSS Profile is administered by the College Scholarship Service (CSS) which is the financial aid division of the College Board. This form allows universities to determine your eligibility for non-governmental financial aid. The CSS application form is time-consuming and you should register at least two weeks before the earliest application date that you need to meet. 

Make sure you are honest on your CSS Profile form. The penalties for lying on the CSS Profile are very serious. They may include fines of up to $20,000 and up to five years of jail time, in addition to repaying the financial aid received by the student. 

Remember that your application may be considered less competitive when you apply to a university with a requirement for a need-based scholarship. For example, if there are two students with the same profile and test scores. One has applied for scholarships while other hasn’t, universities would prefer the student who has not applied for scholarships. So do not apply for the need-based scholarships, unless you truly require the financial assistance.

Merit-Based scholarship

This type of scholarship is aid that is awarded to students based on academic achievement and other exceptional aspects of their profile. You may receive this if the university believes that you are a strong applicant and they want to retain you as their student. This type of scholarship may be awarded to you even if you haven’t applied for it 

Grants

Grants are Federal Aid offered by the US government. In order to receive federal grants, you have to fill a form called the FAFSA, which stands for Free Application for Federal Student Aid. This application is administered by the American Department of Education.

The FAFSA also gives students an option to apply for federal work-study, which provides part-time jobs for students with financial need, allowing them to earn money to help pay education expenses. You can find this free form on the FAFSA official website: https://fafsa.ed.gov/

International students are not eligible to receive this Federal Financial Aid. However, many universities will ask you to fill the form as they require it for their own merit or need-based scholarship programs. This form allows universities to understand your financial position better and this is why we would recommend that you fill out the FAFSA. 

Remember that every university has its own requirements, deadlines and criteria, so make sure you check their official website for information on the different types of financial aid offered.