Thinking of studying in the US? Worried about the costs? You're not alone. Finding funding for study in the US is a challenge for both American and international students. However, many are able to fully fund their studies without loans. QS Top Universities talked to Lauren Welch, head of advising for the Fulbright Advisory Service on the types of funding available, steps for success and resources to help you secure that much needed money.
Types of Funding
Generally speaking, there are four types of funding for study in the US: personal and family savings, student loans from a US or UK lender, scholarships from a US university and scholarships from an outside organization.

After assessing your personal and family savings, your best resource for funding will likely be university scholarships.A scholarship is a financial award that does not have to be repaid. For that reason, scholarships are the preferred type of funding and the area in which we receive the most enquiries.

University scholarships tend to be awarded based on financial need and/or merit. Merit can include not only outstanding academic performance, but also special talent in sports or performing arts, community service participation or extracurricular involvement. Many scholarships are renewable for a student's four years of study based on maintaining specified academic standards or grades.

Scholarships from professional, charitable or government organizations, external to the university, are also available.Often, scholarships from external organizations can be thought of as niche scholarships, as they are based on very specific criteria outlined by the funding body such as country of origin, ethnicity, religious faith, interest in a particular field, gender, interests, or talents. There are thousands of funding bodies, if you are unique in any way (and by simply being an international student, you will be), there is likely to be a funding body with a scholarship out there for you. You just have to find it!

As the cost of higher education rises in the US and UK, more students are turning to student loans to cover all or part of their studies.Loans may be available from a lender in the US or UK. However, please note, most US lenders will require a US citizen to co-sign any loans given.
Steps for Success
1. Start early: Applying for funding often happens simultaneously to the admissions process, so you will want to begin your search for funding early. Ideally, you should research funding opportunities as you research universities in the summer before and autumn of Year 13.

2. Be committed: Keep in mind securing university funding will require time and commitment on your part to find, research and apply for scholarships.The more time you put in and the more scholarships you apply for, the better your chances of getting funding.

3. Chose universities carefully: As you're researching universities, look for 'best buys' such as public (state-funded) universities, which tend to charge significantly less tuition and fees than private universities. Additionally, you may want to look for universities with specific scholarships for international students.As scholarships are often reserved for top applicants, you may also want to apply to universities where you are well above the average SAT and marks of admitted students.

4. Apply for university funding first: Often the process of applying for university scholarships may be as simple as submitting your admissions application by an earlier date or writing an extra essay or two.This process can be less time consuming than submitting a separate application for scholarships from external funding bodies.Therefore, we recommend students start by exploring the university first. Make sure you check with the financial aid office about funding opportunities for in-coming students and how you can apply for these.



5. Keep in mind additional funding will be available when you enrol: While these sources cannot be taken into account when supplying proof of funding information at the visa interview stage, rest assured there will be additional sources of funding available once you enrol.Many universities offer scholarships for second, third and fourth year students. International students can also work up to 20 hours per week during term time and 40 hours per week during holidays on campus.Upperclass students (those in their third or forth year of study) may also apply to become a resident advisor, receiving free on-campus housing and meals in exchange for helping professional staff manage a floor or a residence hall. For more information on managing your student finances see the QS Top Universities article Debt Control: Making the grade without making a huge bill.
Resources
For a more thorough overview of each type of funding discussed above, as well as information on what expenses to anticipate and a host of resources and services to support students interested in study in the US contact the Fulbright Advisory Service here.

As you explore university funding, you will want to consult each university individually, as tuition rates and scholarships will vary from university to university.This information should be readily available on the financial aid pages of university websites.

You will also want to research scholarships from external funding bodies.To search for this type of funding, you may want to use websites such as www.fundingusstudy.org or www.iefa.org Alternatively, the Fulbright Resource Library contains print funding directories and is open Mondays (1:30 pm ' 7:00 pm) and Wednesdays and Fridays (1:30 pm ' 5:00 pm).