What to Do If You Have a Place at a US University But No Money

Congratulations on a successful application to a US university! If you have only just begun to think about financing your studies then the following information provides some ideas on sources of funding for latecomers.

Universities Require Proof of Funds
You should be aware that the university will not be able to issue you with the form I-20 until you can prove that you have the money to pay for at least the first year of study. The I-20 is the essential form you need to apply for the F1 student visa at the US Embassy or Consulate. You will also need to submit proof of finances to the visa officials before they can issue a visa.

The bad news is that you should have applied for financial aid at the same time, if not earlier, as you had applied to universities. The good news, however, is that you still have some options left.

Costs
First of all you should estimate the costs of attending the university: take into account tuition fees, realistic living expenses, travel to and from the US, health insurance, books, etc. Find out what money you can supply from personal resources and work out the shortfall.

Independent Foundations
Unfortunately many of the deadlines for scholarships from independent foundations which would cover a substantial portion of the costs may have passed. Deadlines tend to fall 9 to 12 months in advance of the September in which you plan to enrol. There may be a few smaller awards whose deadlines may still be open. To find out if any scholarships are available you will need to do some research from the various funding directories. Guides such as Study Abroad, The Grants Register, Funding for US Study are available for reference use in the EAS library and may be in some university careers libraries or major public libraries.

World Wide Web
The World Wide Web is also a good place to search for funding. Allow yourself a few hours/days as there is a wealth of information on the Web. See our list of Links for Financial Aid that may be helpful to your search.

Funding from the US University
At this late stage you need to look to the US university department for funding. Aid, if available, is usually in the form of Graduate, Teaching or Research Assistantships. These involve students working for the department for up to 20 hours per week and payment is usually in the form of a tuition waiver (full or partial) and possibly a living allowance. The number of assistantships available vary from year to year and department to department.

Applying for Financial Aid
Once you have received written confirmation of your place at the university, contact the department and enquire about assistantships. It is a good idea to let them know how pleased you are to be accepted but point out that you need help to cover the costs of the programme. If you want to work with a particular professor at the department, contact him/her personally and enquire about possible assistantships.

It is often the case that the situation regarding funds for assistantships may change weekly. If you are turned down at first, keep in contact with the department and professors and keep asking about assistantships. Make a strong effort to obtain money from personal sources and enquire with banks in the UK about loans (e.g. Career Development Loans or the Association of MBA loan scheme ). If you are seen to be making an effort yourself then the department may look more favourably on your situation.

Other Options
If you speak another foreign language fluently or are a talented musician/athlete/dancer, etc., find out if the university has departments that match your skills and ask if they need graduate assistants. They may be willing to provide an assistantship even if you are doing a programme in another department.

Enquire with the housing office to see if they need any resident assistants (RAs). These positions provide free board and lodging in campus dorms in return for administrative/pastoral duties.

Seek sponsorship from business. The EAS knows of students who have received money from major corporations, merchant banks, etc. Using reference guides available at public libraries, develop a list of possible sponsors and write to them outlining details of the programme and the costs involved. If you can, indicate how your studies in the US could benefit others - perhaps the local community or the company itself. If your research will be of benefit to certain areas of business or industry, then concentrate your search on appropriate companies. The EAS does not maintain a list of companies that look favourably on US-bound students, however use your initiative - you never know what you might find!

Finally...
When you have exhausted all possibilities and the situation remains unfavourable, consider deferring your place until the next academic year. Not all departments allow students to defer so you should check with the department about the possibility to do so. If the department agrees to your request, then use the available year to apply for the major scholarships, e.g. Rotary, Fulbright Awards, etc.; to build your savings; and acquire skills to assist your chances of getting an assistantship e.g. teaching practice, computer skills for research work etc. Keep in contact with the department during your deferred year to let them know that you are still interested in attending.

Instead of deferring, some departments ask that you re-submit your application for consideration for the next year. However, you do not usually need to fill out all the forms again and supply fresh transcripts, etc. Nevertheless keep in touch with the department during your year out to let them know that you are still interested in the programme. Let them know what you will be doing in your year out and build contacts with the faculty in the department. If your GRE scores were weak the first time you applied then consider retaking the test and prepare well in advance. Sometimes GRE scores may be the deciding factor in awarding assistantships. Ensure that the scores reach the department before the relevant deadline date. Also consider applying to more graduate programmes if you only applied to one or two with limited funding opportunities.