You’ve likely heard that filling out the Free Application for Federal Student Aid (FAFSA) is a crucial first step to qualifying for financial aid, but what if you’re an Indian student looking to study in the U.S.?
Federal aid, including Pell Grants and federal student loans, is limited to U.S. citizens and permanent residents. You also need a valid Social Security number to fill out the FAFSA online to qualify for other forms of aid.
However, there are some instances where international students can complete the FAFSA. Even if you aren’t eligible for U.S. federal student aid, you may still qualify for financial aid in the form of institutional scholarships, grants and education loans for Indian students.
MPOWER Financing, for example, offers no-collateral, no-cosigner education loans for Indian students looking to study abroad in the U.S. or Canada. Find out if you’re eligible for an MPOWER Financing student loan by clicking the link below.
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Key statistics for Indian students studying in the U.S.
Should Indian students fill out the FAFSA?
The FAFSA is a form issued by the U.S. Department of Education. College and graduate school students must complete it to qualify for federal financial aid, including Pell Grants and federal student loans. Many universities use the FAFSA to determine students’ eligibility for other forms of aid, such as institutional grants or work-study programs.
However, you must meet the U.S. government’s eligibility requirements for federal student aid. You must be a U.S. citizen or permanent resident (meaning you have a Form I-551, I-151, or I-551C, also known as a “Green Card.”) You also need a valid Social Security number to fill out the FAFSA. Indian students and other international students without Social Security numbers cannot complete the FAFSA.
How can Indian students apply for financial aid in the U.S.?
If you aren’t able to fill out the FAFSA, you can still qualify for financial aid in other ways. To qualify for grants, scholarships and institutional loans as an Indian student, you may need to complete one or more of the following applications:
Contact your selected university to find out what the financial aid application process is for Indian students.
Financial aid options for Indian students
There are many grants and scholarships for Indian students; unlike student loans, they don’t have to be repaid. Scholarships and grants can come from universities, nonprofit organisations, government agencies, and private companies.
For example, the Fulbright Foreign Student Program provides funding for graduate students and young professionals to study and conduct research in the U.S., and MPOWER offers a variety of scholarships for Indian students.
You can search for scholarships and grant opportunities with databases like IEFA.org and Edupass.org.
Fellowships and assistantships provide funding opportunities for graduate and doctoral students. These are often paid positions where students assist professors with research or teach undergraduate courses. Some fellowships specifically cater to international students.
For example, students at the Massachusetts Institute of Technology (MIT) can apply for the Josephine de Karman Fellowship, which provides up to US$25,000 (INR 20,85,000) in funding for students completing dissertations.
To explore fellowship opportunities, reach out to your university’s department head or financial aid office.
Federal student loans are only issued to U.S. citizens, permanent residents and eligible noncitizens. However, there are education loans for Indian students available from private lenders.
Many lenders require Indian students to have cosigners who are U.S. citizens or permanent residents to qualify for a loan. However, there are a few lenders – including MPOWER – that offer student loans for Indian students that don’t require cosigners.
Through MPOWER, you can borrow up to US$100,000 (INR 83,40,000) to finance your education, and you’ll only need to make interest-only payments while you’re in school and for six months after you graduate. After this six-month period ends, your outstanding balance will be amortised over the next 10 years, and monthly principal and interest payments will be due.
MPOWER has fixed interest rates, and you can qualify for a 0.25% discount by signing up for automatic payments.
Although students are usually encouraged to fill out the FAFSA as soon as possible, that’s not the case for Indian students. If you aren’t a U.S. citizen, permanent resident or eligible noncitizen with a valid Social Security number, you cannot complete the FAFSA or qualify for federal financial aid.
Even though you can’t take out federal student loans, there are financial aid options for Indian students that can help you manage the cost of studying in the U.S. Scholarships, grants, fellowship opportunities and private student loans can all help you finance your education.
Research your options and contact your university’s financial aid office to find out what types of aid you may qualify for as an international student. If you’re ready to apply for a loan, you can start the process online.
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FAQs
No, Indian students are generally not eligible for U.S. government financial aid. However, they can apply for university scholarships, private loans and assistantships.
Popular scholarships include the MPOWER Monthly Scholarships, Women in STEM Scholarships, Global Citizen Scholarships, MBA Scholarships and the Udaan India Scholarship.
Yes, some lenders like MPOWER Financing offer student loans without requiring a cosigner, but they may have different eligibility criteria.
Eligibility depends on factors including university admission, field of study, previous academic performance, financial background and sometimes a cosigner.
You can apply for scholarships, research assistantships, part-time jobs and work-study programs to offset tuition and living expenses.
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