Paying for a U.S. education can be expensive. This is why many domestic and international students seek financial help for their higher education costs.
This kind of help is called financial aid. As you plan on studying at a U.S. college or university, you might have also heard about student loans for international students.
Experience financial empowerment
Get the financial information you need to take charge of your future
Key statistics
Types of financial aid for international students
Financial aid can be broken down into a few options. Below are the main types of financial aid for international students.
Financial aid is any money-based assistance that’s meant for use toward college expenses. These expenses might include tuition and fees for your degree programme, housing, books and supplies.
There are different types of financial aid, and student loans are one kind of financial aid option available to international students. In other words, all student loans are considered financial aid, but not all financial aid is student loans.
Pakistan might have financial aid awards for its citizens that can help you get your education abroad. A good place to start your search is through your government before departing, or with Pakistan’s embassy or consulate office after arriving in the U.S.
You can also find financial aid for international students in the USA. Some schools offer special aid programmes for international students, like institutional student loans, fellowships, or scholarships. Ask your school’s financial aid office about the financial aid you might be eligible for.
Nonprofit organisations in the U.S. also offer financial aid for international students. For example, the Institute of International Education offers a database of grants, scholarships and fellowship awards. Another source of financial aid is the International Education Financial Aid database at IEFA.org, where you can find additional financial aid options that are specifically designed for students who want to study abroad.
When it comes to student loans for international students, you’ll find them through private loan lenders. Private international education loans might be available through your school or through a private bank or lender. Read MPOWER Financing’s comprehensive guide on how international student loans work for everything you need to know.
Depending on your school or the financial aid programme, you might need to submit certain forms to apply for international financial aid.
The International Student Financial Aid Application (ISFAA) is a paper application. It’s meant for international students who want to apply for financial aid and are studying in the U.S.
The ISFAA asks for the student’s and their parents’ information and financial details like household income, assets and expenses. You must also include existing financial aid you’ve received from other sources. If you have a special financial circumstance, you can explain it on the form. After filling out the application, submit it to the college or university that requested it.
Hundreds of U.S. schools and third-party scholarship organisations use the College Scholarship Service (CSS) profile as a requirement for international students.
The CSS is provided by the College Board. It’s an online application for nonfederal financial aid, like institutional scholarships and loans. You can find a list of schools that use the CSS in their financial aid process online. International students can fill out the CSS for a US$25 (PKR 7,158) fee. If you need additional CSS Profile reports, the cost is US$16 (PKR 4,581) each.
Even if international students are not eligible for federal financial aid, filling out the FAFSA might be helpful. Some non-federal aid programmes require all applicants, including international students, to complete a FAFSA as part of the application process. Taking all of the steps needed to meet eligibility criteria can help you find more sources of financial aid for international students.
Financial aid is a broad term to describe money from a third-party source that’s provided to a student for their education. Even if you don’t qualify for U.S. federal financial aid as an international student, there are options to help pay for your education.
Financial aid for international students includes scholarships, grants and education loans. These can be found through nonfederal sources, like your school, home country or independent organisations that offer scholarships and grants to international students.
MPOWER Financing student loan
A loan based on your future earnings
FAQs
Pakistani students have several country-specific funding options, including the Fulbright Scholarship Program administered by USEFP, which funds approximately 200 Pakistani students annually for U.S. master’s and Ph.D. programmes. The HEC Overseas Scholarship Programme offers financial support of up to US$50,000 (PKR 14,315,000) for Pakistani students pursuing graduate degrees in STEM fields at top U.S. universities. The Aga Khan Foundation International Scholarship Programme provides funding for Pakistani students predominantly from Northern Pakistan and other specific regions. Additionally, the USAID-funded Merit and Needs-Based Scholarship Programme supports undergraduate and graduate education in fields critical to Pakistan’s development. Major Pakistani corporations like HBL, UBL and Engro also offer competitive scholarship programmes for Pakistani nationals studying abroad in fields relevant to their business sectors.
Pakistan’s foreign exchange regulations significantly impact education funding through the State Bank of Pakistan’s Student Exchange Remittance Card (SERC), which allows qualified students to remit up to US$70,000 (PKR 20,041,000) annually for verified education expenses. However, applicants must provide documented proof of admission and expense verification for each remittance. Recent currency depreciation has increased costs for Pakistani families by approximately 30-40% over the past two years, making budgeting more challenging. The State Bank also imposes annual documentation requirements, requiring students to submit progress reports and enrolment verification to maintain remittance eligibility. Banking channels like HBL, UBL and Meezan Bank offer specialised education remittance services with reduced fees, though transaction limits may apply. Pakistani students should maintain thorough documentation of all foreign exchange transactions for both Pakistan and U.S. tax compliance purposes.
Pakistani students should highlight their academic achievements from recognised national institutions like the National University of Sciences and Technology, the Lahore University of Management Sciences or the University or the University of Engineering and Technology when applying for merit-based financial aid, as many U.S. universities recognise these as premier Pakistani institutions. Unlike applicants from some countries, Pakistani students should emphasise their English proficiency credentials, as strong TOEFL/IELTS scores can qualify them for additional language proficiency scholarships and teaching assistantships. When demonstrating financial need, Pakistani applicants should provide comprehensive documentation of family income, including property ownership certificates from local revenue departments and tax returns (FBR documentation), which U.S. institutions increasingly require from Pakistani applicants specifically. Pakistani students should also highlight their experience with development projects, social entrepreneurship initiatives or community service that addresses Pakistan’s national development goals, as many U.S. institutions offer specific funding for students from developing countries with demonstrated leadership potential.
The most cost-effective pathway for Pakistani students typically involves combining multiple funding sources, beginning with applications to universities offering substantial financial aid to international students.Pakistani students should target STEM, business and health care programmes where teaching and research assistantships are more readily available. Many successful Pakistani students secure funding through external scholarships from organisations like the Fulbright Program, Aga Khan Foundation and discipline-specific scholarships before supplementing with student loans only as needed. This combined approach can reduce out-of-pocket expenses significantly compared to full-price tuition.
Pakistani students should create a comprehensive loan repayment strategy that accounts for the historical depreciation of the rupee against the dollar (averaging 7-9% annually over the past decade). If returning to Pakistan after graduation, establish an emergency dollar-denominated savings fund equivalent to three to six months of loan payments as a buffer against currency fluctuations. Consider employment with multinational corporations operating in Pakistan, like Unilever, P&G or Nestle, that may offer dollar-indexed salaries or global mobility opportunities. Pakistani professionals often manage currency risk by making accelerated loan payments during periods of relative rupee stability or strength. Some returning graduates negotiate arrangements with family businesses to designate export earnings for loan repayments, avoiding currency conversion losses. For those with technical and professional degrees, explore remote work opportunities with U.S. companies that pay in dollars while living in Pakistan, providing the best of both worlds – earning in the loan currency while enjoying Pakistan’s lower cost of living.
DISCLAIMER – Subject to credit approval, loans are made by Bank of Lake Mills or MPOWER Financing, PBC. Bank of Lake Mills does not have an ownership interest in MPOWER Financing. Neither MPOWER Financing nor Bank of Lake Mills is affiliated with the school you attended or are attending. Bank of Lake Mills is Member FDIC. None of the information contained in this website constitutes a recommendation, solicitation or offer by MPOWER Financing or its affiliates to buy or sell any securities or other financial instruments or other assets or provide any investment advice or service.
2025 © MPOWER Financing, Public Benefit Corporation NMLS ID #1233542
1101 Connecticut Ave. NW Suite 900, Washington, DC 20036 | The Cube at Karle Town Center, 9th Floor, 100 Ft, Nada Prabhu Kempe Gowda Main Road, Next to Nagavara, Bengaluru, Karnataka 560045, India |