Financial Aid Newsletter

July - Issue #28

Welcome to the Financial Aid Newsletter for International and Study Abroad Students brought to you by IEFA.org, InternationalScholarships.com and InternationalStudentLoan.com.

It’s really encouraging to see the rollout of vaccination programs around the world and the optimism in colleges and universities that study abroad programs will be able to restart.

In this month’s newsletter we’re looking at helping students like you prepare for Fall ‘21 by applying for a loan early and getting lots of information on how to write a great scholarship application essay. We also have a $5,000 USD scholarship opportunity for international students in the US and Canada and our latest blog post for American students who would like to study in Europe. We also explain the financial term: Financial Need.

Sincerely,
The International Financial Aid Team

Get a Head Start on Funding for Fall 2021 If you think you’ll need some additional funds to cover your tuition or living costs this fall, don’t leave it until the last minute to apply. It takes around 6 weeks after a loan is approved for the funds to be paid out, so now is the time to check if you’re eligible and get the ball rolling - then you’ll have one less thing to worry about over the rest of summer.

Check Eligibility

Scholarship Essay Guidance Scholarships can be a great source of extra funding for your studies. One of the biggest parts of many scholarship applications is the essay. That’s why we’ve created our ultimate guide post on the IEFA blog where you can learn all about how to write your best scholarship essay, as well as some common mistakes to avoid.

Read the Guide

Scholarship for Global Citizens The deadline for applications for the MPOWER Global Citizen Scholarship is fast approaching. This scholarship is for any international or DACA student enrolled in a qualifying course at a college or university in the USA or Canada where MPOWER has a program. You do not need to be an MPOWER student to apply, though. You could receive up to $5,000 to put towards the cost of your international education - find out more and apply below: Apply Now

An American Student in Europe? If you’re a US citizen planning to study in Europe - whether for a semester, year, or for your entire degree program - you’ll want to read our latest blog post about your options; including information about scholarships, study abroad loans and foreign enrolled loans. Europe is an incredibly diverse continent with many options for international students, and it’s also quite affordable if you plan and budget correctly.

Read More

Financial Aid Explained: Financial Need Financial Need is the difference between your expected family contribution (EFC) and the amount that your school has calculated as the total cost of attendance. In other words, if you and your family have an EFC of $15,000 but the total cost of attendance is $20,000 then your financial need would be $5,000. You would then need to look for additional funding, scholarships or a loan to cover this shortfall.