4 types of financial aid that you can get (Get Accepted to Your Dream University Part #4)

- Hello, everyone!

Welcome back to my channel.

Now that you've made a list of your universities.

If you haven't made them yet,

go back to the previous videos.

Don't skip them 'cause we're going step by step

to finding the right university where you're gonna study.

So now you have the list of universities

and now your task is to figure out

do they have financial aid?

Today, I'm gonna teach you three types of financial aid

that you should look for when you're looking

for a university to get into in The United States.

If you're interested, continue watching.

(bright music)

First step of financial aid is my favorite

and it's called scholarship.

Why is it my favorite?

Because once you get a scholarship,

you don't really owe anything to a university.

So the way it worked for me with John Hopkins University

in Masters in Marketing, they told me that, "Hey, Marina.

"We have this Dean's Scholarship.

"We have only two of them that we award every year

"and you're one of the applicants that we're awarding it to

"and it is $60,000."

$60,000 is the cost of the program.

So what it means, I don't have to pay

and there are no strings attached.

So I'm just getting it because I've shown

that my application is above average.

The university liked my portfolio

and they wanted to encourage me

to start studying at their university

by giving me the Dean's Scholarship.

There are somethings to remember.

Deans and presidents and all of those

full-rights scholarships are really, really limited.

Take for example, Temple University.

I would say, we have so many students

get into Temple University

and every single student got $5,000 scholarship,

$10,000 scholarship but the average tuition is $30,000.

So what's important for you to figure out at this stage

is to find out how big is the scholarship

and how big it can get

'cause again, if your budget is like mine,

it was like $100 or whatever,

so if it's really limited,

you don't want to apply to universities

that would not be able to meet your financial need

'cause what you're gonna end up with is a lot of offers

from the universities and a load of invoices.

And what happens, they're gonna tell you,

hey, our tuition rate is $40,000

and we're awarding you this scholarship which is $5,000

which means that you still owe us $35,000.

You don't wanna end up there if you have a limited budget.

So make sure you take the table

that we've created together in the last video.

Go to the university and check out

what kinds of financial aid you have.

The next type of financial aid is called assistantship

and there are two types of assistantships.

Number one is a teaching assistantship,

which means that if you're getting it,

you're gonna teach other students and help the professor.

There is also administrative assistantship

which means that you're gonna work on campus.

Now, really important.

Pay a lot of attention, guys.

Yes, there is work opportunities on campus

like you can work in a cafeteria, you can work in a library,

and they will give you $15 an hour and that's it.

This has nothing to do with an assistantship

'cause again, assistantship is a kind of financial aid

and if you get it, yes, you'll work

but what you get is actually free tuition

and a stipend for example,

which has a lot, a lot more than what you're getting

if you just do general work on campus thing.

So assistantships are really, really good

and they are more common than scholarships

because with this kind of financial aid,

you're actually giving something back to your university.

Again, teaching assistantship.

They will be looking at higher TOEFL score

'cause if you're an international student,

they would need to make sure that your English

is good enough so you can teach American students.

How that works.

So for example, you got a teaching assistantship.

You get assigned to a professor like say, maths professor,

and you're professor tells you,

okay, could you please help me prepare the deck

for this lecture?

Now tomorrow, I want you to lead a seminar

on the topic that we just discussed.

And the day after tomorrow, I want you to sit down

and check homeworks from my other students.

This is roughly what people do

when they get a teaching assistantship.

They teach, they check homeworks, they prepare debts,

and work with the professor.

Another important announcement.

There are not a lot of teaching assistantships

and they are very competitive.

Apart from a high TOEFL score,

they would also be asking you

to maybe fill out a separate application

which I did when I applied

for a couple of teaching assistantships

and they would compare your application

with other people's applications.

So it's a good practice

to reach out a university and ask them,

oh, I've seen that you have teacher assistantships

on your website.

Could you please tell me who gets them?

How many of them do you provide?

And what is the amount of financial aid that I get

together with that assistantship?

Because again, the common practice is to waive your tuition

and give you some stipends so you can live

but sometimes, it's only half tuition or 30% tuition.

I got a teaching assistantship

when I applied to the University of Florida

and it was 10 hours a week of work

and an administrative position

and it required me to work part-time on campus

doing administrative work.

Normally, that will be maybe working

in the admissions committee,

like going through new applications

or working in an international department,

helping other international students navigate

through their new life.

So there are a lot of types of administrative work on campus

but again, if you get awarded

an administrative assistantship,

you get normally tuition waivers, stipend, etc.

And again, highlighting this all the time,

this is all really, really competitive.

Just imagine average tuition, $40,000.

You're asking a university for $40,000.

If you're an average applicant

and don't want to put a lot of effort in your application,

guess what, you're not gonna get it.

Universities are looking

for very extraordinary, outstanding students

who put a lot of effort in their application,

and they're like, I really, really wanna study with you.

Here are my accomplishments.

This is what you're gonna get if you accept me.

Those kinds of students get awarded financially

so please take it very seriously.

Don't just be like,

oh, I'll send 10 applications and just wait.

No, really put your heart into them.

Read whatever university wants to tell you on their website.

And tip of financial aid number three,

there are different fellowships

provided by professors themselves.

For example, if you are doing PhD,

PhD is very often financed by fellowship.

So imagine we have a professor.

He's doing your research

and the university gives them $200,000 for that research.

What he does with that money, the professor,

he hires or works with four PhDs

and uses that money to pay them stipend

and PhDs get tuition waivers

or whatever from the university.

This is how fellowships work.

Another type of financial aid really depends on your country

but again, I would highly encourage you to check

if there are any government programs from your country

that would sponsor your studies abroad.

But pay attention to a very important thing

is that if you're sponsored by your government

or maybe a full-priced scholarship

which is provided by the American government

to help people come here to do their master's degree.

There is a rule after those programs

that once you complete them, you cannot stay in The US

'cause if you're a A student

that is not involved in any governmental program,

you come here to The US and study at least a year

on a full-time program,

you get one to three years of work permit.

But if you're sponsored by your government,

you would need to go back and work in your country.

Just keep that in mind.

Your task after this lesson

is to go back to your table that you've created

with your universities.

Go to their websites and check out

what kinds of financial aid they provide

and how big is it.

That's really important.

If their website doesn't say anything,

reach out to them, shoot them an email,

tell them how amazing you are

so they would pay attention to your email

and ask them about the amount

of financial aid that they have.

That was it for me, guys.

Please like this video if you've enjoyed the content.

If you have any questions related to university admissions

that I haven't covered yet,

please ask them in comments below.

And I'll see you soon.

Bye!