Financial Aid and Scholarships for International Students in the U.S.

Studying in the United States is a dream for many international students. However, for many, it remains just that — a dream — due to the significant financial costs associated with American higher education. For example, the average annual tuition at a public university is around $11,000 — and that’s for in-state residents. For students from out of state or abroad, the cost is considerably higher — often comparable to tuition at private institutions, averaging around $42,000 per year. Add to that expenses for housing, meals, textbooks, and personal needs… and the total yearly cost can reach $55,000–60,000 or more.

So, what can students do if they don’t have that kind of money — but still want to study in the U.S.? Fortunately, many American universities offer financial assistance to their students, including those from other countries. In this article, we’ll look at two major types of financial aid:

• Need-based aid — based on demonstrated financial need
• Merit-based aid — awarded for academic, athletic, or other achievements

We’ll also explain where to find these programs and how to submit a strong application to improve your chances of receiving support.

Contents:

• Need-based vs. merit-based
• Where to find scholarships and financial aid
• How to apply for financial aid

Need-Based vs. Merit-Based

International students applying to universities in the U.S. can typically be considered for two main types of financial aid: need-based (based on financial need) and merit-based (based on achievement). These two approaches differ significantly in how eligibility is determined and how funds are distributed. Let’s take a closer look.

Need-based aid — a lifeline for students with limited income

This type of aid is intended for students whose families cannot afford the full cost of tuition. The amount awarded is calculated individually: the school subtracts the amount the family can reasonably contribute (based on official financial documentation) from the total cost of attendance, and the remainder is covered by aid.

Unlike U.S. citizens, international students are not eligible for federal financial aid (such as Pell Grants). However, many American universities provide financial support from their own institutional resources. This is particularly true for elite schools like Princeton, Yale, Stanford, or Columbia, which promise to meet 100% of demonstrated financial need — provided the student is admitted. That said, most of these schools operate on a need-aware basis for international students — meaning that a student’s financial need may influence the admissions decision (unlike a need-blind policy, where financial ability is not considered during admissions).

To apply for need-based aid, students must submit detailed financial information, typically through the CSS Profile (unlike the FAFSA, which is intended for U.S. citizens). Additional documentation may include tax returns, bank statements, and other evidence of family income. The amount of aid awarded can be significant.

For example, at Princeton University, the average annual aid package for international students in the 2021–2022 academic year was about $57,000. As of Spring 2025, Stanford University awarded an average of $66,259 per year in scholarships to students with demonstrated need.

Merit-based aid — supporting exceptional talent

Unlike need-based aid, merit-based scholarships are awarded based on achievements: high academic performance, exceptional athletic ability, participation in competitions, leadership initiatives, volunteer work, and more. These scholarships may come from universities themselves or from external organizations, foundations, or corporations. For instance, the Presidential Scholarship at Babson College offers up to $25,000 per year (about 50% of tuition), while foundations like The Gates Foundation also fund talented students.

The main advantage of merit-based aid is that it does not require financial documentation and is not dependent on family income. However, it has its own limitations: such scholarships rarely cover full costs, are limited in number, and are highly competitive. Receiving a full ride based purely on merit is the exception rather than the rule.

In summary, the choice between need-based and merit-based aid depends on each student’s personal situation. Students from lower-income families applying to top universities may be eligible for generous financial support, especially with strong academic credentials and well-prepared applications. At the same time, students with exceptional achievements — even from higher-income households — can apply for merit-based scholarships to partially offset costs.

Where to Find Financial Aid and Scholarships for International Students in the U.S.

Finding financial aid as an international student in the United States is not a quick process — but with a strategic approach, it can significantly reduce your cost of education. In general, funding opportunities fall into three main categories: aid directly from universities, external scholarships and foundations, and online search platforms.

1. Financial Aid from U.S. Universities

Many universities in the U.S. offer their own financial aid programs, including both need-based and merit-based scholarships. Some of the most generous support is provided by Ivy League institutions (learn more about these universities and how to apply to them). Several of them cover up to 100% of demonstrated financial need, including for international students.

Examples of universities with strong financial support for international students:

• Harvard University — meets 100% of demonstrated financial need for all admitted students, including international applicants.
• Amherst College — one of the few U.S. institutions with a need-blind policy for international students.
• Yale University — offers both need-based aid and scholarships for outstanding students.
• NYU (New York University) — provides generous grants that can partially cover the cost of attendance.

To apply for university-based aid, students are typically required to submit:

• The CSS Profile (via the College Board platform)
• Financial documents, such as tax returns and bank statements
• In some cases — essays and letters of recommendation

2. External Scholarships and International Foundations

In addition to university aid, international students can also seek funding from private foundations, government programs, and non-profit organizations.

Major international scholarships and funding programs:

• The Fulbright Program — funds graduate-level study and research in the U.S.
• The Gates Scholarship — covers full tuition and expenses for outstanding low-income students (U.S. residents only).
• PEO International Peace Scholarship — supports women pursuing graduate degrees in the U.S. and Canada.
• Joint Japan/World Bank Graduate Scholarship Program — provides full funding for students from developing countries entering master's programs.

3. Online Platforms and Scholarship Databases

There are several helpful websites where students can search for scholarships based on nationality, academic level, field of study, and other criteria.

Popular platforms include:

• Scholarships.com — one of the largest scholarship databases in the U.S.
• IEFA.org (International Education Financial Aid) — tailored specifically for international students.
• Fastweb.com — a popular platform offering scholarships, grants, and internship listings.
• EducationUSA — an official U.S. Department of State resource for international students.

Pro tip: Start your scholarship search 12–18 months before your intended start date. Many deadlines fall between November and February. Be mindful of each scholarship’s requirements and deadlines — and don’t limit yourself to just one or two applications. The more active and organized you are, the better your chances of securing financial support!

How to Apply for Financial Aid and Scholarships

The application process for financial aid in the U.S. can vary depending on the type of aid, the university, and the level of study (undergraduate, graduate, etc.). However, most schools require similar steps and documentation.

1. Gather the required documents

First, you’ll need to collect a standard set of financial documents that reflect your family’s income. For international students, this step can be more complex, since foreign financial records don’t always align with U.S. standards.

Common documents include:

• Family financial statement (e.g., parental income verification, tax returns, bank statements)
• Certified English translations of all documents
• Family composition certificate or similar documentation
• Sometimes: employer letters verifying income

If you’re applying to an undergraduate program, most universities will require you to submit the CSS Profile.

2. Submit the CSS Profile (required by most private universities)

The CSS Profile is an online form provided by College Board, used by many private U.S. universities to evaluate need-based financial aid.

Key features:

• Submission fee: typically $25 for the first school, and $16 for each additional one (fee waivers may be available).
• Requires detailed information on income, assets, and household expenses.
• Submit before the university’s deadline — usually between November and February.

Some universities (e.g., MIT, Stanford) may also require additional documentation through the Institutional Documentation Service (IDOC).

3. University-specific forms (if CSS Profile is not required)

Some schools — especially public universities — use their own financial aid forms instead of the CSS Profile. For example:

• The University of California system does not use the CSS Profile for international students.
• Some schools accept the International Student Financial Aid Application (ISFAA) — a free alternative to the CSS Profile.

Always double-check the official website of each university. Look for sections like “Financial Aid for International Students” or “Apply for Aid”.

4. Apply for external scholarships

If you’re applying for merit-based scholarships from external organizations or foundations, the process will likely be different:

• Complete a separate application on the scholarship provider’s website.
• Attach a motivation letter and resume.
• Sometimes required: letters of recommendation or a portfolio (especially for arts-related fields).
• Track deadlines closely — they often differ from university deadlines.

Useful resources:

• iefa.org — search engine for scholarships available to international students
• fastweb.com — filter scholarships by subject, nationality, and education level
• educationusa.state.gov — official advising and scholarship resource from the U.S. Department of State

5. Meet deadlines and track your application status

• Start early — many scholarships require submission 12 months before your intended enrollment.
• Check your email regularly — universities may request additional documentation or invite you to interviews.
• Keep copies of all forms, confirmations, and correspondence.

Need detailed guidance?

Experts at ED-EX.com will assist you at every stage of the application process — from choosing a country to preparing documents.

You can submit a request in any convenient way:

— in your personal account

— on the page of your chosen university

— or by emailing us at support@ed-ex.com