University Financial Aid – fee waivers, scholarships and assistantships!

University financial aid needs no introduction! Financial aid is the major factor that haunts ms in us aspirants as the cost of living in USA is higher than many other countries and without financial aid, it is rather impossible for most of the students to pursue masters in USA!

How to get university financial aid:

-First and foremost, students must mention the need for financial aid while filling the application form.

– You need to have a splendid academic track record

– You should have reasonably good scores in GRE or other entrance exams

– If you have teaching experience, you have good chances of getting assistantships

–  A research experience is a plus

– Last but not the least, you need to have good SOP and LOR’s

The major financial aid sources are

Education Loans:

There are again two types of education loans – bank loans and trust loans. Bank loans are usually associated with number of rules and regulations and a percentage of the amount has to be beard by the candidate. Repayment starts after 6 months of the course completion or after the candidate gets a job- whichever is earlier. Trust loans are those from trusts that have comparatively less rates of interest and most of the people are unaware of that. Some of the trusts include J.N. Tata Endowment, K.C. Mahindra Education Trust, K.C. Mahindra Education Trust, R.D. Sethna Scholarship Fund, Sahu Jain Trust etc

Fellowships:

Many fellowships are available for international merit students. Few of them include Aga Khan Foundation, Inlaks Scholarships, AT&T Leadership Awards , Rotary Ambassadorial Scholarships and ITC Scholarships. Scholarships or fellowships are awarded based on candidates academics and performance.

Tution waivers:

Those who get tution waivers are ultra lucky as they do not need to pay the tution fee and need to pay only the general fee for facilities like sports, library etc. This is also associated with the merit of the student

Assistantships:

Assistantship is a cash stipend that lets a student earn enough for his/her expenses The student who gets assistantship works for about 20 hours a week and this is the maximum. The work is either teaching or research. The information can be obtained from university brochures. You need to prove yourself to get assistantships. Prove that you have the teacher in you and you are interested in research during first semester and impress you professors. You will get assistantship for sure!

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