Top 3 Strategies
to Afford College 

August 29, 2024

For international students considering higher education in the United States, one of the most significant concerns is the cost of attendance (COA). The COA includes various expenses such as tuition, room and board, books, supplies, and personal expenses. While these costs can seem overwhelming, strategies and resources are available to help make a U.S. college education more affordable.

Understanding the components of the cost of attendance is essential for budgeting and financial planning. The COA typically includes the following:

Tuition and Fees
This is the largest portion of the COA and varies widely depending on the institution. For international students, tuition at public universities generally aligns with out-of-state rates, ranging from $20,000 to over $45,000 per year. At private universities, tuition alone can exceed $50,000 annually.

Room and Board
This includes housing and meal plans. Depending on the location and type of accommodation, room and board can range from $10,000 to $18,000 per year.

Books and Supplies
Textbooks and other necessary materials typically cost between $1,000 and $1,500 annually, although this can vary depending on the program of study.

Personal Expenses
include personal items, entertainment, and other living expenses. On average, personal expenses range from $2,000 to $3,000 per year.

Health Insurance
Most colleges require students to have health insurance, which can cost anywhere from $1,500 to $3,000 per year. International students often need to purchase a plan through the college if they are not covered by a suitable policy from their home country.

Travel
International students should also budget for travel expenses, including flights to and from their home country. Depending on the distance, annual travel costs can range from $1,000 to $3,000 and more.

The total cost of attendance varies widely depending on the type of institution and its location. According to the College Board's Trends in College Pricing 2023 report:

Public Colleges
While domestic in-state students pay an average of $26,000 per year, international students generally pay the out-of-state rate, which averages around $43,000 annually.

Private Colleges
The average COA at private nonprofit four-year institutions is approximately $57,000 per year for all students, including international applicants. Recently, some top-tier private universities have reported COA figures approaching $100,000 annually. For instance, the University of Southern California (USC) and several other elite institutions have seen their total COA reach near this figure due to rising tuition costs, comprehensive fees, and higher living expenses.

# 1: Identify colleges that meet 100% of demonstrated need

Some private colleges commit to meeting 100% of demonstrated financial need for all admitted students, including international students. This means that after assessing your family's financial situation, the college will cover the gap between what you can afford and the total cost of attendance.  However, while these schools meet 100% of demonstrated financial need, not all of them are need-blind in their admissions process. This means that your ability to pay may be considered during the admissions process if you are an international applicant. In addition, the composition of the financial aid packages (grants, loans, work-study) may vary.

Here is a list of some of these institutions:

Ivy League Schools

• Harvard University

• Yale University

• Princeton University

• Columbia University

• Dartmouth College

Other Private Universities

• Massachusetts Institute of Technology (MIT)

• Amherst College

• Bowdoin College

• Swarthmore College

• Williams College

• Middlebury College

• Pomona College

# 2: Look for colleges offering merit-based scholarships

Merit-based scholarships are another important resource. Unlike need-based aid, merit scholarships are awarded based on academic, athletic, or other achievements, regardless of financial need. Many colleges, such as the University of Southern California, offer merit-based scholarships for which international students are eligible. It's essential to research the availability and criteria for these scholarships at each institution you are considering.

# 3: Run the Net Price Calculator

Before applying, international students can use the Net Price Calculator available on most U.S. college websites to estimate the potential cost of attendance. The calculator considers various factors, including family income, assets, and the number of children in college, to estimate your net cost after financial aid. While the accuracy of these calculators for international students may vary, they can still offer a useful starting point to gauge affordability.

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