Financial Aid for international students

Hey guys, 

I am a college student studying at a big public school and a family friend (currently a rising HS senior) reach out to me trying to learn more about US college and working on Wall Street. He is very interested in finance and even tho he is from Germany, he would like to apply to college to the US and hopefully one day work in finance. We have two problems, the first one is that he is not an amazing candidate on paper (he has good grades and extracurriculars but nothing to make him stand out) and the second one is that his family def cannot afford to pay over 200k for 4 years of college. 

I was thinking of recommending him to apply to schools like UVA/Umich/Duke/ND/UNC where he def has a higher chance to get in but since I am from the US and was lucky enough to have my parents pay for college I have no idea about how financial aid works for international students. 

Is anyone able to help? what should I tell him to do?

Thank you!

 
Most Helpful

- Ask him to reach out to the DAAD to get the details for his plans (he will know what this is in Germany)
- There are, afaik, FIVE need-blind admission schools for internationals in the US, list is online - you'd need to be a TOP candidate to make it in, normally. But I don't know him, so can't say whether he has a chance.
- Germans normally have really good, free schools in the nation. What is the purpose here? If all he wants is to live and work in the US, there are other routes without spending 200K. EU passport holders have additional visas in the US, I know people from the EU who had up to 70 different visa variants to apply for.
- Even if he studies in the US, there is no guarantee that he can stay in the country. I hope he knows that. The odds are better with a STEM subject and in certain fields like CS, but otherwise... not a good chance to stay.
- He is only eligible for financial aid from the school, and even that is extremely limited to a few aspects. Any state or federal aid is, rightfully, not available to non-US residents.

- Germans are normally not seen as a group of immigrants that require financial aid if their own education system is free. I am not saying he can't have his wish and I also believe in a free choice in education. But I am fairly certain that there shouldn't be "an international right for anyone to study in the US for free" when their families abroad have never paid a dime into the US tax pot. This one is a divisive and difficult aspect and I hope we can discuss this peacefully.

 

thanks a lot for your reply. His dream is to work as an IB analyst in NY and this is why he would like to go to the US to make that happen

What do you mean by "EU passport holders have additional visas in the US, I know people from the EU who had up to 70 different visa variants to apply for"

 

If he can't foot the bill, he needs to look for a credit line somewhere. Maybe parents, grandparents, uncles, etc. Europeans are relatively wealthy compared to applicants from Africa or Asia. Many Europeans can afford 200K. I studied in the US and the Europeans were the ones with the above average wallet size.

Pretty much the only option unless he gets a package from the US school. But free rides are unlikely to happen unless you are from an extremely impoverished or impressive background. Most run-of-the-mill EU students don't meet that criteria. And then there are only the five schools I mentioned for need-blind.

EU passport holders have other options to get into the US, doesn't have to be through a 200K loan. But if he really wants to break into NYC BB, then his best bet without money is to go to Mannheim, Beisheim, Frankfurt school ,etc and get placed in Frankfurt, and THEN transfer to NYC.

EU passport holders have more visa routes into the US than many other nations. But without money, without an education, without any other skills or experience.. I'd say it would be difficult either way.

edit: UK tuition is now 3x as much as before, so I doubt that'd be worth it.

Also, there are many German companies hiring for staff in the US.  Meaning, the company will train you, pay you, move you, pay for all expenses, including all insurances and other costs. Not sure why that isn't an option for many people. It might not be IB or NYC, but every step of the way will be paved with security, a pension and money. Even a return to Europe is free and an option.

 

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