The Thirsty Scholar - Deep Dive on Financial Aid (US Colleges) for International Students

Welcome to the inaugural issue of The Thirsty Scholar—if you’re an international high school student in India and elsewhere, looking to study abroad in the US, UK, and beyond, you are exactly where you need to be!

Why this Newsletter?

• This newsletter arises from my belief that education is the greatest equalizer. Period. For me, creating educational opportunities and access for the most deserving international students from around the world is an essential imperative.

From my own experiences as an Educational Advisor:

Over these years, I have mentored and worked with students and guided both undergrads and MBAs to some of the top universities in the US and UK including Stanford, Wharton, Columbia, MIT Sloan, Amherst, Williams, Brown, Dartmouth, Duke, NYU, Carleton, INSEAD, LBS, Imperial and many more. Through this newsletter, I am keen to share my insights and demystify the entire process for as many students (and their families) so that we unlock the secrets of college success and make elite education accessible to all.

IN THIS ISSUE

Spotlight on Need-Blind Admissions for International Students:

We're shedding light on the complete list of ALL 8 U.S. schools that are need-blind for international students. These institutions ensure that an international student's financial situation does not impact their admission chances.

(Regardless, always keep in mind that the US colleges have the most generous financial aid policy for international students that exceed the rest of the world combined)

Understanding the Cost of a US Education: (Harvard, 2024-2025 )

• Plus +$4,202 in health insurance, $2,500 Personal expenses, $1,000 Books, $0-$4,800 in transportation for a TOTAL between $86,000 - $91,000

Surprising Insights: You will find quite a few surprises in the list. So Stanford for all its rah rah and wealth and glory is actually NOT a need blind school for international students. “Stanford has a limited amount of financial aid for international students.” What!!!

I hope Stanford will follow Brown which just became need blind for international students from this year (Class of 2029). Stanford has no business being anything but need blind for every student on the planet. For that matter neither do other big & wealthy schools like Penn, Columbia, Chicago, Duke.

Harvard's Generous Policy: Contrast this with Harvard which has such a generous aspect to financial aid policy for international students: “Getting into Harvard can be challenging. Figuring out how to pay for it shouldn't be. Because we want to bring the best people to Harvard regardless of their financial circumstances or citizenship, …your financial need will never affect your chance of being admitted to Harvard.”

The ENCHANTED 8 (The ONLY Need-Blind Schools in the US for International Students)

FEATURED

1. AMHERST COLLEGE (www.amherst.edu)
   ~1 hr 45 mins from Boston | ~3hrs 30 mins from NYC

   • Considered by many to be the Harvard of small liberal arts colleges; more difficult to get into than some Ivies. Famously dropped legacy preference in admission decisions in 2021.

   • Amherst Admission for International Students

2. BOWDOIN COLLEGE (www.bowdoin.edu) 
   ~2 hrs 30 mins from Boston | ~6 hrs from NYC

   • My alma mater, another "little Ivy" like Amherst. Located in Maine, it's often said to be the most famous college you’ve not heard of. Best college food in America. Reed Hastings (Founder, Netflix) and Peter Buck (Founder, Subway) are graduates.

   • Bowdoin International Student Admissions

3. BROWN UNIVERSITY (www.brown.edu)
   ~1 hr 15 mins from Boston | ~4 hrs from NYC

   • Emma Watson is an alum; famous for its highly flexible Open Curriculum; probably the happiest Ivy League.

   • Brown Financial Aid for International Students

4. DARTMOUTH COLLEGE (www.dartmouth.edu)
   ~2 hrs 15 mins from Boston | ~5 hrs from NYC

   • as quintessentially American as any college can get – When President Dwight Eisenhower visited Dartmouth in 1953, he exclaimed, “Why this is always what I thought a college should look like.”

   • Financial Aid for International Students at Dartmouth

5. HARVARD UNIVERSITY (www.harvard.edu)
   ~15 mins from Boston | ~4 hrs 15 mins from NYC

   • A school that needs no introduction but probably has the most generous financial aid policy for international students; 25% of its students go on full scholarships. How wicked is that?

   • Applying for Financial Aid as an International Student at Harvard

6. MIT (www.mit.edu)
   ~15 mins from Boston | ~4 hrs 15 mins from NYC

   • No school in the world pushes the boundaries of science and technology as much. I’ll let you figure out what IHTFP means in the MIT parlance as both a term of endearment and a nod to the insane pressure that MIT students go through.

   • Financial Aid for International Students at MIT

7. PRINCETON UNIVERSITY (www.princeton.edu)
   ~5 hrs 20 mins from Boston | ~1 hr 15 mins from NYC

   • Unequivocally the most blue-blooded school in America, beats Harvard in my opinion for undergraduate education.

   • How Financial Aid Works at Princeton

8. YALE UNIVERSITY (www.yale.edu)
   ~2hrs 15 mins from Boston | ~2 hrs from NYC

   • Comprises the ‘Holy Trinity’ of colleges in America along with Harvard and Princeton.

   • Financial Aid for International Applicants at Yale

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Financial Aid 101: Frequently Asked Questions

1. What is need-blind admissions anyways?

• Definition: Need-blind admissions mean that a university evaluates your application without considering your financial situation.

• From Yale: "Yale operates a need-blind admissions policy for all applicants, regardless of citizenship or immigration status. Yale admits undergraduate students without regard to their ability to pay."

2. What is need-aware admissions?

• Definition: Need-aware admissions mean that a university may consider your ability to pay tuition as one of the factors when reviewing your application. This could influence the admission decision, especially if financial aid resources are limited.

• From Columbia: "International students are evaluated in a need-aware manner. This means that the admissions committee considers how much financial aid a student requires when evaluating an application."

3. Is need-blind the same as merit-based?

• Clarification: No, need-blind refers to the ability to pay.
  From Princeton: "Princeton financial aid is awarded solely based on need; there are no merit scholarships. We consider an applicant's talents and achievements only in relation to admission. Academic and athletic merits are not considered when awarding financial aid."

4. Why are need-blind policies important to US schools?

• Dartmouth says it best: "International students bring an incredible mix of perspectives and life experiences. They enrich classroom discussions as well as casual conversations in the library, the lab, on the sidelines of a game, or in the dining hall.”

5. Should I only apply to schools with need-blind admissions if I'm an international student needing financial aid?

• Advice: No, while need-blind schools do not consider your financial situation in the admissions process, many need-aware schools such as Penn, Columbia, Williams, etc. are known to offer several fully funded scholarships and otherwise have generous financial aid for admitted international students.

6. What does 'meets 100% demonstrated need' mean?

• Explanation: If a school meets 100% of demonstrated need, it commits to providing enough financial aid to cover the difference between the cost of attendance and what your family can afford to pay. Most schools are need-aware for international students and yet once the student is admitted they commit to meeting 100% demonstrated interest.

7. What is the process for applying for financial aid?

• Procedure: Remember there are typically no separate essays if you want to apply for financial aid. International students usually need to fill out the International Student CSS Profile to apply for financial aid. Typically, what they ask for is parents' tax returns, bank statements and detailed analysis of income and expenses.

THE COMMON MISCONCEPTIONS ABOUT FINANCIAL AID

Misconception 1: Financial aid is binary: you get 0% or 100%

• Reality: Financial aid packages can vary widely along the spectrum of full aid and no aid rather. So say, you could end up with 60% of financial aid based on your needs evaluation.

Misconception 2: If I’m really smart, at the top of the applicant pool, I have a chance of getting the most aid

• Reality: Admissions primarily follow the need-blind policy. What this means is that even if you are at the top of the applicant pool, but your family can afford to pay, then you will not get any financial aid.

Misconception 3: If I want aid, I shouldn’t apply to universities that are need-aware for international students

• Reality: Although financial need might be considered at need-aware schools, many still offer substantial aid to international students and prioritize diversity.

Misconception 4: All of the Ivies and Ivy+ (Stanford, Duke, Chicago) are all need blind for international students

• Reality: No. Only few Ivies (such as Harvard, Yale, Princeton, Brown, and Dartmouth are need-blind for international students; Penn, Columbia, and Cornell aren’t). However, other non-Ivies such as MIT, Amherst, and Bowdoin are in fact need-blind for international students.

Misconception 5: Let me first get in, and then once I’m in, I’ll do well in my first year and get aid in the second year

• Reality: Unless you apply for financial aid as a freshman, you will not be considered for financial aid in subsequent years even if your financial circumstances change.

• From Stanford: “International students who do not request consideration for financial aid at the time they apply for admission will not be eligible to apply for aid at Stanford throughout their undergraduate years.”